EximBank insurance products package – ”The banking product of the year”

Bucharest, December 12, 2012 – EximBank will continue to promote its insurance products both to the business and finance banking environment, considering the fact that using these facilities we can take over the exporters’ risks as well as those of the financing bank, declared Traian Halalai, President of EximBank, at the Piata Financiara Awards Gala, that took place yesterday at the National Bank of Romania.

“We do believe that we will succeed in developing the partnership that we have with the commercial banks, especially during this period when EximBank is a valuable resource for them. By combining our products with the ones offered by the commercial banks we can present to the business environment complete financial solutions and added comfort by significant minimizing the risks”, also added Traian Halalai.

The insurance products package was appointed as The banking product of 2012 by the publication Piata Financiara due to the supplementary protection offered to the Romanian companies involved in foreign commercial relationships.

”The economic and financial volatility of the foreign markets determined an increase of the notoriety and requests for the insurance products offered by EximBank to the Romanian exporters. As long as situation was stable and predictable on the foreign markets, the exporters did not feel the need for additional protection especially in terms of collecting payments. But once the economic crisis has become more and more present, things changed and the Romanian companies active on these markets started to look for products able to mitigate the business risks. This is why we receive more and more requests for insurance products, the exporters being more interested in the insurance for the external payment default risks.” also stated the President of EximBank.

The insurance products package offered by the Bank includes:
Insurance policies covering the external payment default for non-market risks– offering the certainty of cashing up to 85% of the value of exported goods in countries with non-market risks, regardless of the financial situation evolution of the buyer or the evolution of the commercial, political and force majeure risks in its country;

Insurance policies for credits on medium and long term- EximBank guarantees the recovery of up to 85% of the losses incurred by the export contracts with foreign partners on medium and long term;

Insurance policies for buyer credits– it covers the Romanian exports financed by crediting the foreign buyer or its bank for paying the imported goods or services. EximBank covers the recovery of up to 95% of the buyer credit value.

Insurance policies for Romanian capital investment abroad – it covers the capital investments of the Romanian companies abroad. The insured amount is a maximum of 90% of the total value of the investment project.

In order to facilitate the access to its special products, Exim Bank implemented on its website (www.eximbank.ro) an on-line selling platform for insurance policies, allowing also the costs calculation.

EximBank is a specialized institution whose threefold product portfolio focused on financing, guarantee and insurance, enables it to grant assistance to current activities and development of exporters, SME-s and companies involved in projects pertaining to key economic sectors, particularly those contributing to the absorption of EU funds.