{"id":17179,"date":"2022-11-10T10:49:14","date_gmt":"2022-11-10T08:49:14","guid":{"rendered":"https:\/\/www.invaldainvl.com\/?p=17179"},"modified":"2022-11-10T10:49:17","modified_gmt":"2022-11-10T08:49:17","slug":"moldova-agroindbanks-net-profit-is-up-66-this-year","status":"publish","type":"post","link":"https:\/\/www.invaldainvl.com\/en\/group-company-press-releases\/moldova-agroindbanks-net-profit-is-up-66-this-year\/","title":{"rendered":"Moldova-Agroindbank\u2019s net profit is up 66% this year"},"content":{"rendered":"\n
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Moldova-Agroindbank (maib), Moldova\u2019s largest commercial bank, of which the leading Baltic investment management and life insurance group Invalda INVL is a shareholder, had an unaudited net profit of 836.7 million Moldovan leu (MDL) (EUR 44.1 million) in the first nine months of this year, which is 66% more than in the same period last year.<\/p>\n

A significant factor in this year\u2019s profit growth was a one-off transaction in the first quarter involving the sale a written-off loan for EUR 11.5 million.<\/p>\n

The bank\u2019s revenue in January-September 2022 totalled MDL 2.2 billion (EUR 116.1 million) and grew 52% compared to the same period a year earlier.<\/p>\n

Maib\u2019s net interest income increased 64% versus the same period of 2021 to MDL 1.5 billion (EUR 79.7 million). Net commission income rose 11% from the year-ago period to MDL 267.9 million (EUR 14.1 million). Other income grew 47% to MDL 424.0 million (EUR 22.3 million).<\/p>\n

The bank\u2019s loan portfolio amounted to MDL 21.81 billion (EUR 1.15 billion) at the end of September and was 18.4 percent larger than at the same time last year. Business loans increased 22% in the period of comparison, while loans to households grew 16%.<\/p>\n

Customer deposits at maib at the end of September 2022 totalled MDL 28.6 billion (EUR 1.51 billion), 4.5% more than a year earlier.<\/p>\n

\u201cMaib has further increased its market share in all business segments and has progressed significantly towards its strategic goals. Nonetheless, economic and geopolitical factors are strongly impacting the Moldovan economy. Weakened consumer and business confidence, record high inflation, and the National Bank of Moldova’s severe tightening of monetary policy are leading to a slowdown in borrowing by businesses and individuals. But the situation in the Moldovan banking system is stable and maib has sufficient capital and liquidity to continue operating successfully,\u201d notes Vytautas Plunksnis, the Chairman of the Supervisory Board at maib and Head of Private Equity at INVL Asset Management.<\/p>\n

As of the end of September, maib had a capital adequacy ratio of 22% and a liquidity ratio of 117%.<\/p>\n

About maib<\/strong><\/p>\n

Maib is the largest bank in Moldova. As of 30 September 2022, it accounted for 32.5% of the country\u2019s bank assets and 36.3% of loans. The bank serves more than a third of the people in Moldova and is one of the country\u2019s largest employers. Maib has a high level of capitalisation \u2013 as of 30 September 2022, its capital adequacy ratio was 22%. The bank has been recognised for customer service quality and product innovation.<\/em><\/p>\n

Since 2018, maib\u2019s largest shareholder is a consortium of investors consisting of the European Bank for Reconstruction and Development, Invalda INVL \u2013 a leading investment management and life insurance group in the Baltic region, and Horizon Capital \u2013 a private equity fund manager focused on emerging Europe.<\/em>\u00a0<\/em><\/p>\n\t\t<\/div>\n\t<\/section>\n","protected":false},"excerpt":{"rendered":"

Moldova-Agroindbank (maib), Moldova\u2019s largest commercial bank, of which the leading Baltic investment management and life insurance group Invalda INVL is a shareholder, had an unaudited net profit of 836.7 million Moldovan leu (MDL) (EUR 44.1 million) in the first nine months of this year, which is 66% more than in the same period last year.<\/p>\n","protected":false},"author":19,"featured_media":17180,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[14],"tags":[],"class_list":["post-17179","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-group-company-press-releases"],"acf":[],"yoast_head":"\nMoldova-Agroindbank\u2019s net profit is up 66% this year - Invalda INVL<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.invaldainvl.com\/en\/group-company-press-releases\/moldova-agroindbanks-net-profit-is-up-66-this-year\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Moldova-Agroindbank\u2019s net profit is up 66% this year - 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