Iute strengthens governance at Energbank with appointment of Madis Toomsalu to the Supervisory Board

Iute strengthens governance at Energbank with appointment of Madis Toomsalu to the Supervisory Board

Tallinn, Estonia, 29 April 2026. Iute Group, a leading European personal finance group, has appointed Madis Toomsalu to the Supervisory Board of its Moldovan subsidiary Energbank. The appointment strengthens Energbank’s governance and institutional framework as the bank continues to expand its activities within Iute Group’s digital banking strategy.

Madis Toomsalu brings extensive experience in banking and financial services. He served for nearly nine years as Chief Executive Officer of LHV Group and held various senior roles within the group over more than 16 years. His experience is expected to support Energbank in areas such as governance, risk management, and operational oversight.

Tarmo Sild, CEO of Iute Group, said: “We are building a digital bank in every country where we operate, and Energbank is developing along the same lines. This requires strong leadership, clear processes, and disciplined growth. With Madis Toomsalu, we are adding extensive banking experience to the Supervisory Board to support this development.”

Madis Toomsalu, designated member of the Supervisory Board of Energbank, added: “Energbank operates in a market where digital banking still offers significant potential. The key will be to combine transparent governance, a strong risk culture, and customer-focused technology with local market requirements. The role of the Supervisory Board is to maintain this balance.”

The appointment is subject to regulatory approval by the National Bank of Moldova.

Contact:

Kristel Kurvits, Group Chief Financial Officer (CFO)
Email: investor@iute.com
Phone: +372 622 9177

About Iute Group:

Iute Group is a digital banking group focused on everyday financial services in Southeast Europe. Established in 2008 and headquartered in Estonia, Iute serves customers in Albania, Bulgaria, Moldova, North Macedonia, and Ukraine. Through the Myiute app and its local operations, Iute provides digital financial services including payments, banking, financing, and insurance intermediation. Iute Group finances its operations through equity, deposits, and secured bonds listed on the Regulated Market of the Frankfurt Stock Exchange and the Nasdaq Baltic Main List.

www.iute.com