Maib’s net profit grew to EUR 73.4 million last year

Moldova-Agroindbank (maib), Moldova’s largest commercial bank, whose one of the shareholders is the leading asset management group in the Baltics Invalda INVL, had an unaudited net profit of 1.41 billion Moldovan leu (MDL) (EUR 73.4 million) last year, which is 15.7% more than in 2023.

“Maib continued to demonstrate strong financial performance in 2024, which reflects both its resilience and sustained growth across all business segments. New long-term financing deals signed with the European Bank for Reconstruction and Development and the European Investment Bank will allow maib to step up its financing of Moldovan small businesses and contribute to sustainable economic advances. For several years in a row, maib has been internationally recognised as the best bank in Moldova, and last year it was also recognised as the best SME bank in Central and Eastern Europe and Moldova as well as the best sustainable finance bank in Moldova,” says Vytautas Plunksnis, the Chairman of the Supervisory Board of maib and Head of Private Equity at INVL Asset Management.

The bank’s net interest income in 2024 totalled MDL 2.27 billion (EUR 118.15 million) and was 4.4% larger than the previous year. Net commission income grew 20.5% compared to 2023 to MDL 537.7 million (EUR 27.9 million). Other income decreased 9.3% to MDL 50.6 million (EUR 2.6 million).

The bank’s loan portfolio amounted to MDL 30.3 billion (EUR 1.57 billion) at the end of last year and was 28.1% larger than a year earlier. Corporate loans grew 18% in the year, while retail loans increased 41.5%.

Customer deposits at maib totalled MDL 46.06 billion (EUR 2.39 billion) at the end of December 2024, 18.1% more than at the end of 2023.

Maib had assets of MDL 59.65 billion (EUR 3.09 billion) at the end of December 2024, 14.5% more than a year earlier. The bank had a capital adequacy ratio of 20.6%, a liquidity ratio of 274.1%, and an annual return on equity of 18%.

Maib also shared its good operating results with shareholders. During 2024, maib returned MDL 757.5 million to shareholders (EUR 39.4) through dividends and another MDL 231 million (EUR 12 million) through buy-back of its own shares.

About maib

Maib is the largest bank in Moldova. As of 31 December 2024, it accounted for 35% of the country’s bank assets market and 38% of loans. The bank serves more than a third of the people in Moldova and is one of the country’s largest employers. Maib has a high level of capitalisation – as of 31 December 2024, its capital adequacy ratio was 20.6%. The Banker, a magazine published by The Financial Times, last year named maib the best bank in Moldova for the sixth consecutive year, and Global Finance named it the country’s best sustainable finance bank.

Since 2018, maib’s largest shareholder is a consortium of investors consisting of the European Bank for Reconstruction and Development, Invalda INVL – the leading Baltic asset management group, and Horizon Capital – a private equity fund manager focused on emerging Europe. 

About Invalda INVL group

Invalda INVL is the leading Baltic asset management group with a track record spanning over 30 years. The group’s companies manage or have under supervision more than EUR 1.6 billion of assets across multiple asset classes including private equity, forests and agricultural land, renewable energy, real estate as well as private debt. The group’s scope of activities also includes family office services in Lithuania, Latvia and Estonia, management of pension funds in Latvia, and investments in global third-party funds.

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