Moldova-Agroindbank (maib), Moldova\u2019s 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 1.1 billion Moldovan leu (MDL) (EUR 56.3 million) in the first nine months of this year, which is 10.9% more than in the same period last year.<\/p>\n
\u201cMaib is constantly earning recognition and continues showing extremely good, stable results. The third quarter of 2024 was especially strong for maib, with 21.4% growth of profit year-on-year. The bank is heavily focused on not just digitalisation but also on the use of artificial intelligence in its operations. Another important event was the referendum in October in which the people of Moldova voted in favour of joining the European Union,\u201d says Vytautas Plunksnis, the Chairman of the Supervisory Board of maib and Head of Private Equity at INVL Asset Management.<\/p>\n
This September Global Finance magazine named maib as \u201cthe Best SME Bank in Central and Eastern Europe\u201d and \u201cthe Best SME Bank in Moldova\u201d. It said that the recognition reflected maib\u2019s commitment to supporting small and medium sized enterprises with strong customer service and innovative financial solutions.<\/p>\n
The bank\u2019s net interest income in January-September 2024 totalled MDL 1.68 billion (EUR 86.38 million) and was 1.9% larger than in the nine months of 2023. Maib\u2019s net commissions income increased 14.2% versus the same period of 2023 to MDL 390.8 million (EUR 20.1 million). Other income decreased 9.2% to MDL 37.5 million (EUR 1.9 million).<\/p>\n
The bank\u2019s loan portfolio amounted to MDL 27.6 billion (EUR 1.4 billion) at the end of September and was 17% larger than at the same time last year. Business loans grew 7.1 % in the year as retail loans increased 29.5%.<\/p>\n
Customer deposits by the end of September totalled MDL 44.5 billion (EUR 2.3 billion), 24.3% more than a year earlier.<\/p>\n
As of the end of September 2024, maib had assets of MDL 58.4 billion (EUR 3.0 billion), 20% more than a year earlier. The bank had a capital adequacy ratio of 20.8%, a liquidity ratio of 377.4% and the return on equity amounted to 18.8%.<\/p>\n
Last year maib had net profit of MDL 1.22 billion (EUR 64 million), or 7.5% more than in 2022. The bank paid dividends of MDL 757 million (or EUR 39.4 million) for the years 2021-2023.<\/p>\n
About maib<\/strong><\/p>\n Maib is the largest bank in Moldova. As of 30 September 2024, it accounted for 35% of the country\u2019s 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\u2019s largest employers. Maib has a high level of capitalisation \u2013 as of 30 September 2024, its capital adequacy ratio was 20.8%. The bank has been recognised for customer service quality and product innovation.<\/p>\n Since 2018, maib\u2019s largest shareholder is a consortium of investors consisting of the European Bank for Reconstruction and Development, Invalda INVL \u2013 the leading Baltic asset management group, and Horizon Capital \u2013 a private equity fund manager focused on emerging Europe.<\/p>\n About Invalda INVL Group<\/strong><\/p>\n Invalda INVL is the leading Baltic asset management group with a track record spanning over 30 years. Growing and developing with an open approach, it creates well-being for people through its work. The group\u2019s companies manage or have under supervision more than EUR 1.5 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\u2019s 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.<\/p>\n","protected":false},"excerpt":{"rendered":" Moldova-Agroindbank (maib), Moldova\u2019s 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 1.1 billion Moldovan leu (MDL) (EUR 56.3 million) in the first nine months of this year, which is 10.9% more than in the same period last year. […]<\/p>\n","protected":false},"author":4,"featured_media":200516,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[313],"tags":[369],"class_list":["post-200518","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-invl-special-opportunities-fund","tag-private-equity"],"acf":[],"yoast_head":"\n