BUSINESS

EximBank’s profits in Q1 2015 – five times higher than in Q1 2014

EximBank continues its aggressive strategy of growth registered during the last two years and registers a net profit of almost 35 million Lei in Q1 2015, five times higher than the one registered during the similar period of 2014.

”EximBank has a very good start of the year, and the fact that we are registering a net profit 28 Million Lei higher than in the first quarter of 2014 proves the principles we have applied in our strategic thinking are correct.  We consider this a remarkable achievement especially having in mind our increased level of support for the real economy in difficult times when the corporate financing market is dominated by adverse conditions such as low levels of demand and intense competition on offering side. During the first three months of the year the volume of the new exposure borne by the bank both under the State name and account and on own name and account has reached almost 275 Million Lei out of which 80% have been directed towards financing the companies the rest representing letters of banking guarantees or multi- levels products. At the same time, the net credits portfolio increased with 6% as compared to the end of last year”, said Traian Halalai, President of EximBank.

During the first quarter of 2015, the net banking revenue of EximBank has increased with 45% as compared to the similar period in 2014, up to 59.8 Million Lei, the trend being supported by the increase of net revenues from interests and the positive evolution of the revenues derived from transactions with State titles. At the same time, operational expenses have reached 23.8 Million Lei, higher by 8% than in Q1 2014 following the expansion of the clients’ and products portfolio as well as the network enlarging.

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.

 

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