EximBank registers a 29% higher profit during the first semester of 2014
EximBank has registered during the first semester of 2014 a net profit of almost 32 Million Lei, 29% higher than the one counting for the first six months of the last year, in the context of clients’ portfolio expansion, extension of the national coverage and implementation of a sustainable business model with an improved revenue generation capacity.
The new total exposure granted during the first six months of the year (both on state’s name and account and own) reached almost 475 Million Lei out of which 90% have been directed towards financing the companies, the difference representing banking guarantee letters or multi-product limits.
“EximBank’s strategy implemented during the last two years, focused on proactively engaging the market and improving the capacity of rapid answering to the clients ‘needs allowed an increase of the net credits granted by the bank with 24% as compared to December 2013. We have managed to rapidly modernize the products’ portfolio and we will continue to develop on this line so that to transform the bank into a high quality financial products supplier. We do have now a complete and complex offer and we will keep on modernizing our financial solutions on every level – financing, guaranteeing, insurance, factoring, trade finance or cash management. We are convinced that 2014 will sum up with EximBank maintaining its top position on the ranking of the most profitable banks in the Romanian financial system” declared Traian Halalai, President of EximBank.
He added that during the whole mentioned period, the cost optimization process continued at a prudential yet constant pace, the share of operational costs in the total banking revenue declining from 54.7% in 2012 at 52.5% in 2013 and 46.1% during the first semester of 2014 respectively.
As compared to the end of last year, at 30.06.2014 the bank’s assets have increased with 244 de Million Lei, due to the ascending trend in crediting activity, higher by 24% as compared to December 2013.
“One of the strategic business directions of this period was improving the assets’ structure by re-directing the investments from state titles to interbanking investments (on short term) the final goal being to make more funding available for supporting the growth of the crediting activity. Also, we have focused on maintaining the prudential policy in terms of thorough analysis of the credit applications as well as on the continuous effort of debts recovery. We are proudly registering a rate of non-performant credits of only 9,55%, much lower than the average of the banking system that at the end of March ranged at 22,26%”, mentioned the EximBank representative.
In the same context of the assets quality, the bank mentioned that 94% of the non performant credits related to the activity registered by the end of 2012, the following rate reaching only 1.4% .
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.
The process of developing the operational network has started last year by launching four new agencies. The newest agency has been opened in Arad last month, another two units being currently in the set-up process. The Bank has a network of 17 units; also, interested companies may access additional information on www.eximbank.ro. or at email@example.com.