Posted: 2 years ago

MAIB CEO Giorgi Shagidze Shares 4 Priorities of Moldova's Largest Bank

Giorgi Shagidze, CEO of Moldova's largest bank - MAIB - spoke to BMG Checkpoints exclusively about the bank 's future development plans. MAIB currently accounts for 35% of Moldova's bank loan portfolio and is the most important private financial institution in the country.

According to Giorgi Shagidze, he has four priorities, which the bank is already working on. These include the bank's digital development, as well as regional expansion, service improvements and IPOs:

''Number one is the quality of service, the customer is at the center of everything we do. We have updated the brand and changed the operating model especially in large branches.

Number two is the development of digital services. We develop and improve our digital offerს as well as our digital app and internet banking. We are taking steps to create a so-called "Super application".

The third priority is to go public and hold an IPO; When the country's largest bank conducts an IPO, it opens up a new way for investors to enter the country. Consequently, going to the MAIB exchange is a more important event than just listing our bank, as it opens the way for new investors to invest in Moldova and this will have a positive impact on the whole business climate. We have started working on this, however many regulatory changes are needed. We also recently held a Moldova Introduction Day on the London Stock Exchange and plan to have fairly close communication with investors this year.

The fourth priority is regional expansion and development. We also want to do this by strengthening our digital channels, for example, 1 million Moldovans live in the EU and we want to offer them new services and opportunities.

When asked when the bank plans to go public, Giorgi Shagidze said that implementing IPO is considered in the first half of 2023.

Source: BMG Checkpoints