EximBank registers 35 Mil Lei gross profit at the end of first semester 2012
Bucharest, September 03 2012 – EximBank continued to consolidate its position on the corporate banking market reporting 35 Mil Lei gross profit at the end of the first semester.
“Results reported after the first 6 months are excellent and have been generated mainly by the strategic decisions regarding an increase of the Bank’s involvement in the economy development by financing and guaranteeing SMEs and big companies projects. Under the difficult conditions of the economic crises, the total exposure towards nonbanking clients’ growth by 700 Mil Euro counter balances the slow crediting activity of the foreign banks and represents a confirmation of the fact that Romania needs strong, local banks able to support the development of the Romanian economy”, declared Ionut Costea, President of EximBank.
The Bank’s results at half year, double as compared to the forecasts, have been reached both through the aggressive increase of the commercial activity, translated into additional revenues (especially form interests and commission fees) as well as through severe costs control policies, especially in terms of risks costs.
“As we accelerated the financing activity during last years, we are glad to observe that we are the only Bank in the system that did not finish 2011 with provision costs but with revenues of approximately 6 Mil Lei which reflects the health of the credit portfolio.”, added Ionut Costea.
EximBank representative also stated that taking into account the goal regarding the implementation of the internal workflows based on corporate principles has been reached, the Bank’ strategy for the next 4 years is to double its clients number.
EximBank is a specialized institution whose threefold product portfolio focused on financing, guarantee and insurance, enables it to grant assistance to current activities and development of exporters, SME-s and companies involved in projects pertaining to key economic sectors, particularly those contributing to the absorption of EU funds.