Maib, the largest bank in the Republic of Moldova, informs about the initiation of the succession process of the CEO. After a very prodigious period as CEO, Giorgi Shagidze will pursue new career opportunities, and will end as CEO of the bank in June 2024, after almost 3.5 years in office. The successor in this position will be announced following a rigorous selection competition.
Giorgi Shagidze joined the team maib as Chairman of the Bank's Management Committee in February 2021. Under Giorgi's leadership, maib managed an ambitious transformation, resulting in increases in market share in all business segments, progress in financial performance and tripling the number of users of the mobile application maibank, consolidating the position of the bank as an undisputed leader of the banking system in the Republic of Moldova.
Vytautas Plunksnis, Chairman of the Bank's Board: „Giorgi led maib through an absolutely extraordinary transformation and I am very grateful for everything he has accomplished with the team. I am convinced that the foundation he has built will serve us for many years to come, and his successor will continue those initiated based on a very strong foundation ”.
Giorgi Shagidze, CEO maib: „Maib has always maintained a strong market position. We worked hard with the team to achieve continuous achievements in all areas, while going through a substantial transformation towards a banking model well prepared for the challenges of the future. I am deeply grateful to the exceptional management team and all employees for their extraordinary dedication and support for our common goals. I express my gratitude to our customers for the partnership and to the shareholders for their trust. I feel honored to be part of this remarkable journey and I will continue to admire the success of this incredible team ”.
Vasile Tofan, Chairman of the Appointments and Remuneration Committee of the Bank's Board: „As a member of the Bank's Board, we will ensure that the successor CEO will meet the very high standards set by Giorgi. We have already identified a number of strong candidates and we will take all action to ensure that the new CEO has enough time to work with Giorgi for a smooth transition ”.
Maib is the largest bank in Moldova, with a market share of 33.8% of deposits and 38.2% of loans to the entire banking system at the end of the third quarter of 2023. Maib is a disciplined creditor, with an NPL of 3.1% and well capitalized, with a CAR of 23% as of September 30, 2023. The bank is of systemic importance and serves almost a third of the country's population and is one of the largest private employers in Moldova, with over 2,400 employees. Since 2018, the largest shareholder of maib is a consortium, which includes the European Bank for Reconstruction and Development (EBRD), Invalda INVL, a leading asset management group in the Baltic countries and Horizon Capital, a private investment fund focused on emerging markets.
