Ion Vrabieh
LP: – How many medium, small and micro enterprises (SMMEs) from the viticulture and wine industry are served by maib?
– According to the National Bureau of Statistics, there are 3161 such enterprises in Moldova, of which only 69 are medium and small, the rest are micro. Of the total number of SMMs, 387, or 12%, are clients of maib. This group consists of 15 small and medium and 372 micro enterprises, which looks significant.
LP: – How important is this group of clients to the largest bank in the system?
– The presence of wineries among our clients is quite symbolic, because even the Republic of Moldova on the map looks like a bunch of grapes. Viticulture and winemaking are the business card of the country and its economy. These clients in general are very important, regardless of their size, because they are closely linked to other sectors and industries, in which a huge number of people work. That is, they are jobs, salaries, taxes and provision for family members. Despite the crises the industry has faced, it has shown great resilience and continues to grow. Banks should support it.
LP: – Are there currently any special international programs aimed at supporting SMMEs with which maib cooperates ?
– Currently, maib is working with resources from a number of foreign programs:
- FIDA (International Fund for Agricultural Development),
- FIDA 8 (for young people under 40 years old and/or women; if the total land area is not more than 10 ha; subsidy – up to 40% of the loan amount, maximum 320 thousand lei),
- RISP (Rural Services Investment Project),
- KfW (for rural development),
- Eu4Business (for business modernization; contains a grant component of 10% or 15%).
- FCA (for the purchase of agricultural and post-harvest equipment; grant component of up to 30% of the loan amount; fixed interest rate of 5.1% per annum for the whole term),
- FACEM (Fund for Entrepreneurship and Growth of the Moldovan Economy; loans are mainly for energy efficiency, including for energy-efficient equipment; interest rates: 4.5% for loans in euros and dollars and 5.5% in lei).
The mentioned interest rates are very favorable, as the other interest rates vary, depending on the company, from 9 to 12%. They consist of two components – the refinancing rate of the NBM and the bank’s margin. If the enterprise has signed a contract with maib, the bank’s margin remains at the same level. And if the NBM reference rate changes, the interest rate automatically changes. If the NBM reference rate goes down, the interest rate for the client also goes down. Since inflation is decreasing, we hope that the NBM will also reduce the interest rate, which will favorably affect the clients.
LP: – What are the services that other banks do not offer for medium, small and micro enterprises?
– The bank concludes a general contract for 15 years with all legal entities, and other contracts are linked to it. Therefore, for the next transaction, the client does not need to go to the bank again to sign some papers and go through the instances again (to the cadastre, to the notary). I believe that a general contract for 15 years is a very big advantage of maib.
Like for large clients, a credit limit (with and without collateral) has also been created for this category of companies. Within this limit, one can take a loan at any time without a package of documents. And lately an individual limit is offered, which we approve for 12 or 24 months. The client can also use the required amount, but by taking out a pledge.
In other banks, for example, there is no such service as registration of collateral. We have long been working with movable property – machinery, equipment, which is left as collateral. Even if the company is located in the region, the client does not have to go to a notary, he comes to the bank, sits next to our specialist who serves him, and they connect online with the bank’s pledge registrar. Everything is done in 5 minutes. The client has signed the loan and other agreements, and immediately signs the contract on the registration of the pledge.
A similar project has been launched with real estate pledge. Currently, a pilot project is being implemented in Chisinau mun. Chisinau for objects worth up to 3 million lei. Then it will be extended to the whole country and the limit on the value will be removed. All this is done in order to make our clients comfortable, they do not waste their time and get money quickly.
LP: – In your opinion, what are the advantages of maib, thanks to which especially small wineries choose to become its clients?
– We have the most widespread network in Moldova, so every third client of the banking system is serviced in maib. We offer a lot of very diverse products for all categories of clients, including from foreign resources. There are no external financing programs of the country that the bank does not work with, and we have no restrictions on transactions.
As of 2019, the bank is going through a process of reorganization and restructuring to improve its services. There are very good conditions in maib offices throughout Moldova. This is primarily due to infrastructure and digitalization. And the very approach to clients is such that all of them are important. We work with everyone individually, find what they need and solve the issue at the highest level. This is even reflected in the fact that large representative offices have a special Alta zone for managers and founders of companies, where they are served without waiting in line.
But many questions can be solved without visiting a bank office, as recently a lot has been invested in digitalization of services to save customers’ time. Thanks to this, it is possible to open accounts or business cards online with us.
Each client from the group of medium and small enterprises, if the sales volume exceeds 18 million lei, has a personal manager who answers all questions. But the rest, smaller enterprises, can also solve many questions without coming to the bank, just by phone. They know they have a dedicated manager for that. If there is no manager (on weekends), there is the “1314” service, where you can call at any time and plus there is a chatbot where you can write.
Since our bank is the largest in the country, it has so many features that other banks don’t have. For example, because the Customs Service and Treasury are serviced at maib, their accounts receive money from our customers very quickly (through other banks it can take up to three or four days). This is extremely important, for example, when a shipment is standing in customs. The program works 24/7, i.e. any payments can be made on Saturday and Sunday, without restrictions. So there is no need to wait until Monday, everything can be paid online. Also, transfers to counterparties can be made even at night, and the money quickly appears in their accounts.
Entrepreneurs always evaluate in any bank the cost of borrowed resources. In terms of interest rates on loans maib is very competitive compared to other banks. Of course, all banks want to retain good customers and try to give them favorable interest rates. We explain to customers what other benefits they can get besides the interest rates that are acceptable to them. In general, we solve these issues, and customers are satisfied.
LP: – What are currently the most popular areas for investment in the segment of medium, small and micro enterprises from the viticulture and winemaking industry?
– In my region (south), 11 maib units serve some wineries that have been with us since our inception and have grown before our eyes. Every year they took out loans: first to replenish working capital, then they started investing in projects to modernize their equipment. When they replaced it, they started to build something and plant vineyards. Gradually they reached another level – modern full-cycle enterprises.
We talk to them a lot, the owners and business leaders say that today this is no longer enough for winemaking. It is necessary to develop infrastructure to receive tourists – to open a restaurant, a store, a hotel at the winery, because rural tourism has become very popular. Thanks to tourists you can get good sales on the spot. And also it contributes to the country and brand awareness abroad. Many tourists, returning to their country, tell where they have been, bring Moldovan wines, which they treat their friends with. They start to wonder where Moldova is, and some of them want to visit Moldova too, having heard about our delicious food, interesting traditions and hospitable people.
Our country is very beautiful, you just need to know how to show it to people. That is why we need to develop the hospitality sector. Some enterprising people have realized this and come with their projects to maib for financial support. It is important that they believe in their future in Moldova and want to create it here.
LP: – Thank you for the interview. May all the projects be successful.
