Gross profit of EximBank soared 80% in the first semester

Bucharest, July 11, 2011 – EximBank reported for the first half-year period financial fundamentals on the rise, with a gross profit of over RON 45 million which accounts for an amount almost 80% in excess of that recorded in the same period of 2010.

“Such performance actually results from the bunch of activities having shown a leap in bank’s profit in line with curtailed expenses by nearly 20% against budget indicators. On the whole, total exposure of the bank flared by nearly 40% in the first six months of the year as compared to the same period in 2010, which proves that EximBank is consistent with its trend of accelerated surge present in the last two years”, asserted Ionuţ Costea, president of the bank.

In order to turn its business most effective, EximBank has boosted efforts onto both piers involved, i.e.: activities deployed for State’s account and for bank’s account. Therefore exposures for bank’s account exceeded by 36% the level recorded in the first half-year of 2010, on account of increased lending business. Likewise, the activities for State’s account underwent an increment of almost 40% backed by the guarantees sector.

„Guarantees keep showing the best dynamics since the total of new guarantee commitments at the end of June was eight times higher than the amount reported at the end of June 2010”, added Ionuţ Costea.

The activities carried out for bank’s account enable EximBank to provide products and services designed for companies like any other commercial bank in the market. Specifically, there are loans for investments, applicable to current business or financing for those commercial companies involved in EU funded projects.

However, the distinct part played by EximBank from among the other commercial banks lies with its feature of state’s agent which makes it a relevant supplier of special products, unique in the banking market. This range includes sovereign guarantees available to any commercial company willing to engage a loan with a commercial bank but lacks enough collaterals, or credits at subsidized interest rate – the rate is 5 pp below market rate and is stable throughout the lending term; moreover partial interest offset is granted which enables any company to recover up to 50% of the interest rate paid for RON engaged investment loans.

„The year 2011 is the first to materialize the latest sales strategy implemented at year-end 2010. The impetus given to bank’s commercial activities is quite obvious thus paving the way to the fierce competition ahead after the crisis period elapses which mostly mean facilities reshuffle. The business pattern implemented in EximBank is a sound and efficient one – resulting in a profit of more than RON 300 million recorded in the last two years and a half – therefore we feel confident in the large potential to be used in future, as well by this bank”, stressed out Costea.

EximBank is a specialized institution whose threefold product portfolio is focused on financing, guarantee and insurance.To most entrepreneurs EximBank means exporters’ bank which is only part of its mission presently. Market share and request of meeting latest needs of prospective customers have pressed for a revised scope thereby expanding significantly the recipients’ array for bank’s offer. As a result, EximBank is able to extend support by means of particular financial instruments to any kind of commercial company either an SME or a large company, involved or not in exports.

Companies expressing an interest in EximBank products may apply directly to the territorial units of the bank, located in Bucharest, Bacau, Brasov, Constanta, Cluj, Craiova, Timisoara, Buzau, Oradea, Deva Iasi and Sibiu. Likewise further information may be reached at the website or the address informatii@eximbank.roon particular products and documents.