Moldova's largest bank closer to listing its shares in Bucharest

The leader of the Moldovan banking market (36.3% by assets), maib (Moldova Agroind Bank), received its shareholders' approval for having its shares listed on Bucharest Stock Exchange, the bank said in a press release?mc_cid=a3609172e2&mc_eid=cd1f92f96c).

Also, a decision to accept the registration of maib shares with the Romanian Financial Supervisory Authority and with the Romanian Central Depository's system was approved.

"Successful listing of maib shares on the international stock exchange would be an important achievement not only for the bank but for the whole country, as it would place Moldova under the spotlight of investors and attract foreign capital to the country. Maib is on its way to achieving a long-term ROE target of 20%," said Vytautas Plunksnis, Chairman of the Board of Directors of maib.

He said he expects fast growth of the underbanked Moldovan market combined with dividend payments of 35-50% of the net profit, which would attract investors to the transparent leader of the Moldovan banking industry.

The main shareholders of maib are the European Bank for Reconstruction and Development (EBRD) and Dealbeata Investments, which own 41% of the bank's shares (48% of the voting rights) indirectly through HEIM Partners Limited (UK).

(Photo source: Maib.md)