Serghei Cebotari concludes his activity as Moldova Agroindbank CEO

Serghei Cebotari, CEO of Moldova Agroindbank, the leader of the country's banking sector, is to conclude his activity on 29 January 2021. The banker's decision has been prompted by the completion of the strategic objectives assumed by  Serghei Cebotari in his capacity as CEO.

"It has been an honour to lead the team of the best bank in Moldova over the past 8 years and to be part of this team for over 26 years. Now that the strategic objectives set for me as president have been met, I decided to start a new chapter in my career that would allow me to reach new heights. I plan to remain close to the bank and do not rule out joining MAIB’s Board of Directors", Cebotari said.


Serghei Cebotari thanked the more than 2,000 MAIB employees for their "professionalism, consistency and commitment, which enabled us, as a team, to build the strong foundation underpinning MAIB’s business ". He voiced confidence this "will enable the team to continue to excel in all respects and strengthen the bank's status of undisputable leader in Moldova".

"I express my gratitude to our shareholders for the trust and support granted to me and my team, which helped us turn MAIB into an invaluable institution for the development of our country. I would like to thank our clients for almost three decades of cooperation and share my confidence that the ties we have developed over the years will only strengthen, to the benefit of those who we have the privilege to serve, so that we can all be proud of our joint achievements here, at home”, Cebotari added.

"The actions taken over the years allow me to confidently state that I leave to my successors a strong, stable and reliable institution, one that is very well capitalized and has a huge potential for further development", Cebotari noted.

For his part, Vytautas Plunksnis, Chairman of the Board of Directors, thanked Serghei Cebotari, on behalf of the entire team, for his excellent work as CEO.

"Over the past eight years, Mr. Cebotari has played a critical role in shaping MAIB's direction, contributing to the bank maintaining and consolidating its position as the undisputable no. 1 bank in Moldova. Given his utmost professionalism, I hope that we can count on Mr. Cebotari's ongoing precious expertise, eventually within the Board of Directors," Plunksnis said.

Until the appointment of a new CEO, Serghei Cebotari's duties will be performed by MAIB’s First Vice-President, Mrs. Aliona Stratan.

Serghei Cebotari has been a member of MAIB team since 1995. In 2000 he was appointed as Vice-President of the bank, being promoted subsequently to First Vice-President role in 2012. In 2013 he was named as the CEO of the bank. Cebotari was part of the core team that laid the foundation for the largest bank in Moldova, developing and consolidating the bank’s regulatory basis, setting its development strategy as a private bank, independent from state institutions.

In his capacity as CEO, Serghei Cebotari led the bank through the 2014-2015 crisis that hit the entire banking sector, guiding the institution to ensure the transparency of its shareholding structure, a process that culminated in the acquisition of 41.09% of MAIB’s shares by HEIM Partners, an international consortium of investors composed of EBRD, Invalda and Horizon Capital, in 2018. The 2020 pandemic crisis reconfirmed MAIB's resilience and strengthened its status as undisputable leader of Moldova's banking sector, proving the soundness of the development strategy implemented by the management team led by Serghei Cebotari.

During the 2013-2020 period, MAIB's assets and net income nearly doubled, deposits were up 2.5 times, while loans balance increased 1.7 times. At the same time, the number of active clients was up 1.8 times and the total customer base rose 1.6 times. Throughout this period, MAIB team focused relentlessly on delivering a superior customer experience, diversifying the product offering and speeding up the digitization of financial services provided.

 

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