EximBank, leader on the export factoring market

Bucharest, July 01, 2019 – EximBank has been the leader of the local export factoring market last year with a net turnover of more than 155.61 Million Euro, according to Factors Chain International (FCI), the most important international organization in the field.

”EximBank has succeed in convincing last year more and more companies of its ability on generate flexible and advantageous financial solutions that satisfy the needs for optimizing cash-flows and financing, managing and collecting debt  and this boosted-up our presence on top of the banks offering factoring for export. During the last four years we have focused on the expanding and refining our offer of complementary products to financing and our performance on export factoring segment comes to support the correctness of the principles we base our strategic thinking on and is so relevant to us as we have managed to come first between high profile competitors that represent top banks on the local financial ranking.”, said Traian Halalai, Executive President of EximBank.

Last year, EximBank’s clients have been interested mostly in factoring without recourse (bot internal and external) that has the main advantage of covering the non-payment risk, factoring with recourse coming second in their options.  In terms of clients’ profiling, the flexible offer and its advantages as well as the fast track in processing demands have attracted companies both from corporate and small and medium enterprises segments.

The bank’s constant focus on offering financial solutions tailored both to corporate practices but mostly to the clients’ needs has translated in expanding the portfolio: starting from this year, EximBank has approached the market with an offer that integrates the reverse factoring and the export factoring with an insurance policy issued in the name and on the account of the Romanian State.

Through reverse factoring EximBank supports the efficient relationship between the debtor and its suppliers, getting longer payment terms whilst the suppliers benefit from financing   before due term of the invoices based on the acceptance of payments, thus reducing the risk of payments’ default.  

The export  factoring  with an insurance policy issued in the name and on the account of the Romanian State allows the bank to expand the addressability towards those companies involved in high risk international transactions thus offering to Romanian exporters a new instrument  that contribute to increasing their comfort level in doing business with foreign partners.

EximBank has been actively involved in supporting the Romanian business environment by endorsing local companies’ projects through a competitive portfolio of treasury, cash management, trade finance and factoring products that add-up to the financing and guarantees pillars.

In 2018, the bank has registered a consistent increase of exposures, high quality assets and increase of the market share on corporate segment financing, as well as record profits. At the end of 2018,  the bank managed total exposures of 8 Billion Lei, 30% higher as compared to the end of 2017, registering 113.5 Million Lei profit, the best financial performance of the bank in the last nine years.