{"id":18379,"date":"2023-05-22T09:33:34","date_gmt":"2023-05-22T06:33:34","guid":{"rendered":"https:\/\/www.invaldainvl.com\/?p=18379"},"modified":"2023-05-22T09:33:37","modified_gmt":"2023-05-22T06:33:37","slug":"moldova-agroindbanks-first-quarter-net-profit-increases-25-8-year-on-year-to-eur-16-9-million","status":"publish","type":"post","link":"https:\/\/www.invaldainvl.com\/en\/group-company-press-releases\/moldova-agroindbanks-first-quarter-net-profit-increases-25-8-year-on-year-to-eur-16-9-million\/","title":{"rendered":"Moldova-Agroindbank\u2019s first-quarter net profit increases 25.8% year-on-year to EUR 16.9 million"},"content":{"rendered":"\n<section  class=\"invl-block invl-block-1-columns invl-columns\">\n\t\t\t\t\t<div class=\"column column-1-of-1 c-white padding-top-00 padding-left-40 padding-right-30\" >\n\t\t\t\t\t\t<p>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 341.4 million Moldovan leu (MDL) (EUR 16.9 million) in the first quarter of this year, which is 25.8% more than in the same period last year.<\/p>\n<p>The bank\u2019s net interest income for January-March was MDL 649 million (EUR 32.4 million) and was 56% larger than in the first quarter of 2022. Net commission income rose 42% in period of comparison to MDL 99 million (EUR 5 million). Other income fell 9% to MDL 114 million (EUR 5.7 million).<\/p>\n<p>The bank\u2019s loan portfolio amounted to MDL 22.36 billion (EUR 1.11 billion) at the end of March 2023 and was 9.3% larger than a year earlier. Business loans grew 14% in the year as loans to households stayed the same.<\/p>\n<p>Customer deposits at maib at the end of March this year totalled MDL 31.97 billion (EUR 1.58 billion), 20.1% more than a year earlier.<\/p>\n<p>\u201cThe Bank continues to show consistently good results and strengthen its position in the market despite the tense economic and geopolitical environment,\u201d says Vytautas Plunksnis, the Chairman of the Supervisory Board at maib and Head of Private Equity at the INVL group.<\/p>\n<p>As of the end of March 2023, maib had assets of MDL 44.66 billion (EUR 2.21 billion), 14,1% more than a year earlier. The bank had a capital adequacy ratio of 21.8% and a liquidity ratio of 486%.<\/p>\n<p>Last year, maib had a net profit of MDL 1.13 billion (EUR 56.8 million), which is 56,8% more than in 2021. The 2022 profit was boosted by a one-off transaction in the first quarter of the year involving the sale a written-off loan for EUR 11.5 million.<\/p>\n<p><strong>About maib<\/strong><\/p>\n<p><em>Maib is the largest bank in Moldova. As of 31 Mach 2023, it accounted for 33% of the country\u2019s bank assets market and 37% 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 31 March 2023, its capital adequacy ratio was 21.8%. The bank has been recognised for customer service quality and product innovation.<\/em><\/p>\n<p><strong>About INVL<\/strong><\/p>\n<p><em>INVL is the leading investment management and life insurance group in the Baltic region. Its companies manage pension and mutual funds and life insurance directions, individual portfolios, private equity and other alternative investments. Over 300,000 clients in Lithuania, Latvia and Estonia and international investors have entrusted the group\u2019s companies with the management of more than EUR 1.9 billion of assets. In the business for more than 30 years now, the group has solid experience in managing private equity assets and building market players that are leaders in their respective fields in the Baltic countries and Central and Eastern Europe.<\/em><\/p>\n\t\t<\/div>\n\t<\/section>\n","protected":false},"excerpt":{"rendered":"<p>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 341.4 million Moldovan leu (MDL) (EUR 16.9 million) in the first quarter of this year, which is 25.8% 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-18379","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-group-company-press-releases"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - 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