EximBank ascends 13 positions in Top 100 Banks in South Eastern Europe
Bucharest, July 9, 2019 – EximBank has gone up 13 positions in Top 100 Banks in South Eastern Europe ranked by managed assets in 2018, now classifying on 49th place due to an almost 30% growth in assets as compared to last year, accordingly to the yearly ranking of the SeeNews press agency.
This year’s edition includes 13 Romanian banks and EximBank maintains its ranking amongst top 10 most profitable local banks, being on sixth position between them.
The total net profit of the top 100 lenders by assets in the region rose to 4.354 billion euro ($4.894 billion) in 2018, up by 24% as compared to the aggregate net profit of the entrants in last year’s ranking. At the same time, the combined assets of the top 100 banks totaled 279 billion euro in 2018, up by a mere 1.45% as compared to 275 billion euro of the region’s biggest banks a year earlier.
“The banks in SEE put up a solid performance in 2018, operating in an improving economic environment amid high liquidity and in the absence of major external or internal shocks. Expanding loan portfolios combined with shrinking NPLs and asset impairments to support a rise in net profit which soared to a historic high despite low interest rates”, according to SeeNews that analyzed 190 financial institutions in 11 states.
EximBank has continued its ambitious expansion strategy implemented during the last six years and reported a consistent exposures growth in 2018, high quality assets, increase of the market share on corporate financing segment 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 bank increased financing by 27% as compared to 2017, reaching a credit portfolio of 4.6 Billion Lei that consolidated its positioning on the corporate credit segment gaining market share. Assets growth propelled EximBank on 12th place on local banks ranking, the highest position up until now.
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.