EXIMBANK activity on behalf of the state rose by 40 pc in 2010
EXIMBANK's activity on behalf of the state rose by nearly 40 pc in 2010, compared to the end of 2009, while the total volume of contracts (loans, guarantees and insurance) is about four times larger than in 2008. "In the course of the last year, the bank reported significant rises on all categories of products offered on behalf of the state, and the most significant rise, compared to December 2009, namely, 162 pc, was reported on the insurance segment. 2010 saw a substantial rise in exposure on insurance against risks of default for non-market risks, with a large contribution from exposures on the Russian Federation", Ionut COSTEA, CEO of EXIMBANK, stated, in a press release. He added that, at the same time, loans had risen by nearly 30 pc, and guarantees by 33 pc.
With net earnings of nearly RON 75 million in 2010, slumping by 44 pc compared to 2009, and assets rising by nearly 5 pc, at RON 3.4 billion, EXIMBANK managed to make it among Romania's ten most lucrative banks. These results are over 60 pc above the level targeted in last year's expenditure and revenue budget, which had been similar to the 2009 figures. "The guarantees sector had the most striking dynamics, reaching a RON 1.03 billion-threshold, four times higher than the 2008 level", the EXIMBANK official further argued.
Published on 03.05.2011
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