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EximBank posts profit of 113.5 mln lei, at end-2018

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EximBank registered a profit of 113.5 million lei at the end of last year, the best financial performance of the bank in the past nine years, according to a press release issued on Wednesday for AGERPRES.

At the end of 2018, the bank managed total exposures worth eight billion lei, up 30pct over the similar period in 2017.

"Last year we increased lending by 27pct from 2017, reaching a loan portfolio of 4.6 billion lei, which strengthened our position on the corporate lending area by gaining market share. The increase in assets has propelled us to the 12th place in the rankings of the banks on the local market, EximBank's highest position so far. As regards the significant change in profit over the previous year, it was marked by assets quality improvement and higher recovery of non-performing receivables, but also the good management of the portfolio of products complementary to finance - treasury and cash management products - which have increased their contribution to the bank's profit," said Traian Halalai, executive president of EximBank.

EximBank doubled its customer base in 2018 and tripled its credit balance (from 1 billion lei to over 3.4 billion lei) compared to 2012.

The year 2018 marked EximBank's reaching a maximum in terms of representation capacity, with the expansion of the business network having been continued from 12 units in 2012 to 25 at the end of 2018.

EximBank has been actively involved for more than 25 years in supporting and promoting the Romanian business environment, backing the projects of the local companies. At the same time, because it acts as a state agent on the Romanian guaranteeing and insurance market, EximBank is the main channel through which the public funds made available by the Romanian state are infused into the real economy, contributing to the increase of the competitiveness of the local companies.

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