July 23 (SeeNews) - Moldova Agroindbank (MAIB), the largest bank in Moldova, will distribute 209 million lei ($11.6 million/ 9.8 million euro) in dividend for 2020, one the bank's shareholders, Invalda INVL, said on Friday.
Last year, no dividend for 2019 was distributed in order to conserve capital in the face of the COVID pandemic, Invalda said.
MAIB’s 2020 net profit totalled 524 million lei, down 26% on the year, mainly due to coronavirus-related economic slowdown. Last year, the bank's loans grew by an annual 9%, assets increased by 17% and deposits were up by 18%.
Since 2018, MAIB's largest shareholder, with a 41.09% stake, is HEIM Partners, a UK-based company representing a consortium of investors consisting of the European Bank for Reconstruction and Development (EBRD),asset management group Invalda INVL and private equity fund manager Horizon Capital. The remaining shares are in the hands of more than 3,000 local shareholders.
MD Partners and the EBRD each hold 37.5% of the shares of HEIM Partners, while US-based Emerging Europe Growth Fund III, managed by Horizon Capital, owns a 25% stake.
Moldova Agroindbank was the largest bank in Moldova at the end of June, with total assets of 33.2 billion lei, latest data published by the Moldovan central bank showed.
(1 euro=21.1972 lei)
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