Maib, the largest bank in Moldova, reports net profit of 57 million euros, up 11 percent in the first nine months

Maib, the largest bank in Moldova, delivers net profit of 57 million euros in the first nine months, up 11 percent year-on-year. The YoY growth was largely driven by higher net interest income and increased net foreign exchange gains.

The results were consolidated in the third quarter by a net profit of 20.7 million euros, up 21.4 percent compared to the same quarter of 2023. In the third quarter, the return on equity (ROE) was 20.6 percent, compared to 17.8 percent in Q3 2023, reflecting this year’s performance.

Giorgi Shagidze, CEO maib: “I am very pleased with the performance of maib which demonstrates our ability to maintain profitability regardless of the economic cycle. We have seen a new quarterly increase in the use of digital channels of interaction with our customers. More than 70 percent of individuals’ loans were granted in Q3 online and we have over 722,000 active users. All this underlines the success of our efforts in the field of digitalization. Among the key initiatives we recently launched is the artificial intelligence – AI in banking, which can be transformative. This project will equip us with advanced tools to improve operational efficiency and provide our customers with personalized banking experiences.”

Maib, the largest bank in Moldova, is considering an international expansion with an exclusively digital offer in Romania, focused on the relationship with the diaspora and the further expansion of services on the consumer market in Romania.