Moldavian MAIB, Managed By Giorgi Shagidze To List Its Shares On A Stock Exchange
Moldova Agroindbank (MAIB), the leading bank in Moldova will list its shares on the London Stock Exchange. The bank is managed by Giorgi Shagidze from February this year.
On November 15, MAIB jointly with Renaissance Capital has hosted the Moldovan Capital Market Day at the London Stock Exchange.
When Giorgi Shagidze became CEO of Moldova Agroindbank (MAIB), he stated that his goal was to make the Moldovan Bank go public.
Maib is the largest bank in Moldova, with a 34% share of loans and 31% share of deposits of the entire banking system. The bank serves nearly 30% of the country's population and is one of the largest employers in the country. Maib’s medium-term targets include 40% market share in loans, 55% share in payments, under 45% cost-to-income ratio and 20%+ return on equity to be achieved by 2024. Since 2018, the bank's largest shareholder is a consortium, which includes European Bank for Reconstruction and Development (EBRD), Invalda INVL, a leading asset management group in the Baltics, and Horizon Capital, a private investment fund focused on emerging markets in Europe.
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