Maib has been named the Best SME Bank in Central and Eastern Europe and the Best SME Bank in Moldova by Global Finance. This recognition underscores maib’s commitment to supporting small and medium sized enterprises with great customer service and innovative financial solutions.
Progress of the SME Business Unit
The transformation of the maib SME Business Unit started in 2021. The focus of the transformation was on the following:
* Conversion of frontline teams into Agile work format;
* A new sales model, centered around a dedicated team, to enhance direct sales;
* Streamlining of support function, focusing on swift service and a centralized approach;
* Re-segmentation of customers to better address their needs;
* A KPI system was implemented for all sellers to incentivize high performance;
* Five zonal HUBS were established, ensuring personalized service for each SME client;
* Refined the product portfolio in line with customer demand.
Maib managed to grow its SME loan portfolio by 102% from MDL 2.7 billion at the end of 2020 to MDL 5.9 billion in at the end of 2023 while reducing the size of the team by 26%.
Maib Business – a digital banking solution for SMEs
Micro, small and medium sized enterprises have an issue specific to them, one which larger firms can deal with significantly easier – they don’t have time for physical banking. So in 2023, maib launched a solution to this issue, named maib Business, a digital banking app for SME clients. It has, to this date gained over 11,800 clients, over 43% of which are monthly active users. The app allows businesses to perform the following:
* All types of payments and money transfers
* Foreign exchange transactions
* Full account, deposit, and card management
* Salary payments
* Digital signature
The wide release of the app began in 2024 and the take-up has been impressive with nearly a third of all maib SME clients now using it.
Green portfolio
In 2023, maib launched a dedicated loan for renewable energy power generation aimed at SMEs. The loan takes the client from plan to project in a quick and efficient manner, needing very little upfront investment and effort from the customer themselves. Favorable financing conditions mean that up to 80% of the project can be covered by the loan without the need for additional collateral, which is especially important for SMEs. Moreover, maib has established a trusted network of partners that install solar panels, meaning that clients can choose from installers with a proven track record already. All of this has increased the SME business unit’s green loan portfolio to MDL 418 million as of the end of 2Q 2024.
"I would like to thank Global Finance for recognizing our efforts. The progress that the SME Business Unit achieved in recent years has been nothing short of remarkable, and I would like to thank the team and our loyal customers. Maib Business, our new digital banking app for SMEs that we released this year, represents a significant leap in modernizing financial solutions for our clients and will further solidify our success. Our green loan portfolio has seen amazing growth and acts as a contribution to Moldova’s energy independence. Consistent improvements to our client offerings have been instrumental in expanding our SME unit's loan market share from 22.5% in 2020 to 37.0% in 2023, demonstrating our dedication to our customers’ success," - Andrii Glevatskyi, Vice President and Head of SME Business Unit, commented.
Maib is the largest bank in Moldova, with a share of 36.1% of deposits and 38.0% of loans of the entire banking system at the end of 2Q 2024. Maib is a disciplined lender with NPL ratio of 1.9% and is well capitalised with CAR of 22.2% as of 30 June 2024. The Bank is of systemic importance to the country, it serves almost a third of the population and is one of the largest private employers in Moldova, with a workforce of over 2,400 people. Since 2018, maib's largest shareholder is a consortium, which includes the European Bank for Reconstruction and Development (EBRD), Invalda INVL, a leading asset management group in the Baltic States, and Horizon Capital, a private investment fund focused on emerging markets.
