EximBank consolidates its positioning on factoring market 47% turnover increase
Bucharest, July 09, 2018 – EximBank has registered last year a turnover of almost 162 Million Euro from factoring operations for the third year of accelerated growth in a row.
”In 2017, EximBank has continued its ascending trend for factoring operations the registered turnover being with 47% higher than in previous year and four times higher than in 2015. This trend comes to stand for the market interest in this type of financing and as well for our capacity in generating flexible financial solutions profitable for the clients that are looking for optimizing the cash –flow and financing, the liabilities management and collections. We are delighted that our efforts from the last three years to offer complete financial solutions on the market by prioritizing not only the financing but also the complementary financial services such as factoring are now paying off”, said Traian Halalai, Executive President of EximBank.
Last year the EximBank clients have preferred the factoring without recourse that involves taking over the risks against the foreign debtor (the importer), the risks being covered by a factoring factor or an insurance company. This type of operation counts for 93% of the respective turnover, having more than doubled its volume – the turnover for this segment reaching up to 151 Million Euro.
”In terms of client profiling the majority of the portfolio is made up by big companies but we feel it is important to underline that as compared to 2016 we have managed to attract small businesses as well as a natural following of our increased attention for the respective segment. Their share is still pretty low but considering factoring as the most accessible form of financing – as most of the times the companies can’t provide the necessary guarantees for acquiring credits we are expecting an increase in the small business clients’ numbers”, added Traian Halalai.
He also stated that during this year EximBank would continue to strategically support the development of Romanian exports sector and sustaining the development and competitive profile improvement of the Romanian SMEs and views as a priority the factoring products adjustment to the market needs. ”We are working on extending and refining our offer and we are designing new products that will be announced as we go. We are convinced that our improved factoring offer will be considered by more and more companies and this is why we are optimistic in terms of results for this year.”, the bank representative added.
EximBank is a specialized institution actively involved for more than 25 years in supporting and promoting Romanian business environment. Its specific financial instruments are targeted exclusively to corporate segment and offered in advantageous terms to any type of company – SME, big company, involved in international transactions or only active on local market.
The companies benefit from a competitive portfolio of treasury, cash management, trade finance and factoring products, that add on to the financing and guarantees products. In addition, acting under the Romanian State mandate on the Romanian market of insurance and state guarantees, EximBank is the main channel for the state funds to be directed towards the real economy.