In 2006, MAIB produced 156.9% growth in net profits, 126.2% growth in total assets and a 126.4% expansion in Tier 1 capital. The bank is maintaining an improving profitability trend with RoE rising to 28.8% in 2006 from 22.4% the previous year.
The bank has an extended network of 65 branches and 23 representative offices spread across the country with 93 ATMs, 54 of which are in the capital city of Chisinau. This is the country’s largest national network.
In terms of market share, MAIB is undoubtedly a key institution: at June 30, 2007, it accounted for 20.6% of all banking assets in the country, 23.2% of all loans by commercial banks and 21.8% of all deposits. MAIB-Leasing is a leading player with a 37% market share and MAIB is a leader in the card market with a share of about 25% of the total number of cards in circulation, both debit and credit.
The bank has introduced new technology, Temenos Globus, which is expected to optimise the sales of new products and services, especially in the retail sector. It has improved its cost-income ratio significantly, moving to 48% at the end of 2006 from 55.7% the previous year.
Established in 1991, MAIB has grown into the country’s most reliable universal bank. In 2006, it posted net profits of 212.1m lei ($16.4m) – a 80.5% increase year on year – a record level in MAIB’s history. The bank’s assets grew by 29% up to 4.8bn lei, the equity capital totalled 782.3m lei (a 28.3% growth).
“Our results place the bank first among the country’s financial institutions, with a 23.5% share of the credit market, 20.7% of the assets market, 18.8% of the capital market and 22% of the deposits market,” says the bank’s president, Natalia Vrabie. “To maintain its leading market position, the bank plans to increase the profitability of capital [RoE] to 25%, will focus on providing innovative products and developing the bank’s risk management, and will constantly upgrade the training and quality of its personnel.”
