MOLDOVA AGROINDBANK ANNUAL GENERAL MEETING APPROVES DIVIDENDS PAYMENT FOR 2020

On Thursday, the largest financial institution in the country, Moldova Agroindbank (MAIB), is holding its annual general meeting to approve the payment of dividends to shareholders. The agenda of the meeting includes such issues as the approval of the financial report for 2020, the report of the bank's board for 2020, profit distribution rates for 2021, amendments to the charter, as well as a system of long-term incentives for management, middle management and key employees of the bank.

In connection with the epidemiological situation, the bank's board has taken a set of all necessary measures to protect against COVID-19.

As Infotag reported earlier, according to the results of 2020, MAIB earned 524 million lei in net profit. Due to the pandemic crisis, the bank did not pay dividends for 2019, when the profit reached a record high of 703 million lei. The new development strategy of the bank provides for the bank to reach the profit indicator of 1.5 billion lei.

The MAIB Council and Board received permission from the National Bank to pay dividends, but in a smaller amount than the bank requested. The regulator allowed 17% of profits to be allocated for dividends. The shareholders of the AGM are invited to approve the decision, according to which the bank will pay for each share slightly less than 200 lei.

Infotag's dossier: At present, MAIB's assets amount to 32 billion lei, capital - 5.2 billion lei, loan portfolio - 16 billion lei, volume of deposits - 25 billion lei.