Current chairman of Moldovan commercial bank re-elected for second mandate

Chisinau, 10 May /MOLDPRES/ – The Council of Moldova – Agroindbank gave Serghei Cebotari a new confidence vote for his second mandate as head of bank for a new term of five years. The decision was unanimously adopted by the Council of Bank on 10 May 2018.

The members of Council have reasoned their decision by "outstanding activity of Serghei Cebotari in position of Chairman of the Bank's Board of Directors, manifested by consolidation of position of a leading bank of banking system in Moldova – increasing bank's market shares in assets, loans, deposits, as well as strengthening image of bank as a sound, transparent and accountable institution."

The decision of Council of Bank mentions: "Serghei Cebotari is an integrity, honest person with impeccable reputation in business circles and society, being considered one of most powerful and efficient private sector managers. The merits of Cebotari Serghei were recognised at highest level, being decorated with state distinctions, including highest state distinction of the Republic of Moldova – "The Order of the Republic". "

In this context, President of Bank Council, Victor Miculet, said that "although recent 5 years were extremely difficult and sometimes unfavourable for banking sector, Serghei Cebotari managed to develop bank's business, strengthen management team and whole team, due to dedication and his qualities as manager and banker."

His work as Chairman of Management Committee, as well as Bank's results, have also been appreciated internationally, with the bank obtaining several times the title of best bank in Moldova from regular publications such as "Global Finance",  "Global Banking&Finance Review." The international financial agency SEE News ranked the bank 69 among best performing banks in Southeast Europe – best result for a bank in Moldova.

The leader of largest domestic bank is author and promoter of some important projects for economic development of the Republic of Moldova, directly contributing to market entry of foreign investors with renown, opening of the first leasing company in Moldova, establishment of MAIB business centre. In the position of Chairman of the Management Committee, despite unprecedented crisis that affected banking system over recent 3 years, Serghei Cebotari significantly strengthened the Bank's leadership position, ensuring a 50 per cent increase within most important performance indicators.

Serghei Cebotari was elected Chairman of the MAIB Steering Committee on 28 June 2013, with a mandate valid until 30 June 2018. He has over 23 years of experience into banking sector and before that he had held managerial positions: director Deputy Branch (Branch), Head of Department, Deputy Chairman, First Deputy Chairman.