EximBank is closing the sixth consecutive year with record profits and significant presence in top banks by assets
Bucharest, June 12, 2019 – EximBank has continued its ambitious development strategy for the last six years and reports for 2018 a consistent increase of its exposures, high quality assets, increase of the market share on corporate financing sector and record profits.
At the end of 2018, the bank had total exposures amounting at 8.0 billion Lei, 30% higher than at the end of 2017, with profits of 113.5 million Lei, the best financial results in the last nine years.
”The results underline the bank’s efforts to make the best of its resources and capacities as well as the total control of risks and operational costs against the competitive market restraints. We have increased the financing by 27% last year as compared to 2017, having a credit portfolio of 4.6 billion Lei, which supported the consolidation of our positioning on the corporate financing market by gaining market share. Assets increase placed us on the 12 position in the bank’s top on local market, the highest ranking of EximBank up until now. In terms of the significant variance of profits as compared to last year this was highly related to higher quality assets and the increase of the recovery rate for non-performant receivables as well to the good management of the complementary products portfolio – treasury and cash management – that increased their intake in bank’s profits”, said Traian Halalai, Executive President of EximBank.
The bank’s representative mentioned that the efforts made to convince the business environment in terms of the bank’s ability to offer complex attractive financial solutions for all types of companies have bloomed in 2018 by doubling the number of clients and tripling up the disbursed credit balance (from 1 billion Lei to more than 3.4 billion Lei) as compared to 2012.
”Our portfolio includes new partners in various domains, EximBank concluding contracts with companies from the Romanian business elite as well as with small and medium companies. Financing and guaranteeing facilities for SMEs count for 84% out of the new contracts, confirming the placement of the bank’s resources in supporting the needs of the companies with growth potential, accordingly to our mission”, added Traian Halalai.
Also, 2018 is benchmarking for EximBank the reachof a maximum of the representative capacity as the expansion process of the commercial network has continued: the bank has now 25 representation points as compared to 12 at the end of 2012.
”As for our goals in 2019 we are pursuing the consolidation of our business in a natural rhythm after previous terms of aggressive expansion and we are confident that our evolution so far offers all the necessary premises for closing a new year of growth”, mentioned Traian Halalai.
EximBank has been actively involved for more than 25 years in supporting and promoting the Romanian business environment by endorsing local companies’ projects. EximBank has started out as export agency but it developed out of these boundaries keeping its unique features at the same time. The bank is now capable of offering an attractive portfolio of products and services to any type of company, either SME or large company, involved in international transactions or active only on the local market.
In addition, by acting as state agent on the Romanian market of guarantees and insurance, EximBank is the main channel for infusing the public funds made available by the Romanian state into the real economy, thus contributing to the increase of local companies’ competitive level.