The Ministry of Public Finance, main shareholder of EximBank has decided to appoint Mrs. Crina Cosma as the second Vice-president of the board and Executive Vice-president of EximBank. The nomination is to be sent to the National bank of Romania for authorization, said the bank in a statement.
Crina Cosma (63) has a vast experience in banking acquired during her activity in the management team of Banca Romaneasca, member of National Bank of Greece Group, where between 2007-2013 she has hold the position of Deputy General Director, followed by the position of the Counselor of the General Director. At the same time, between 2009-2010, she was in charge with the management of Banca Romaneasca until the appointment of a new General Director.
Her career in banking includes holding the position of General Director for Support and Operations Department and Deputy General Director (2003-2007) in Bancpost and respectively in Alpha Bank (1998 – 2003). She has graduated the Academy of Economic Studies – Faculty of Finance and she has followed varied post-graduation studies.
The main shareholder of EximBank is the Romanian state which owns through the Ministry of Public Finance 95,37% of the shares, the rest of them belonging to SIF Oltenia, SIF Banat-Crisana, SIF Moldova, SIF Transilvania and SIF Muntenia. As of autumn 2012, EximBank’s President is Mr. Traian Halalai and Mr. Paul Ichim holds the position of Vice-president.
EximBank targets exclusively companies, having a portfolio focused on three business pillars – financing, guarantees 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.
The bank has registered at the end of 2013 with a net profit of almost 50 million lei, a level four times higher as compared to 2012, under the circumstances of improving the commercial activity and efficiently managing resources.
The neutral nominal rate in Romania has been falling since the start of inflation targeting in 2005. The Taylor Rule clearly shows that interest rates peaked in 2022 and have been on a clear downward path ever since.Furthermore, the model estimates a long-term neutral nominal rate of around 3.9%, which is the equivalent of approx. 1.4% real.Using a more sophisticated model (i.e. New York FED’S HLW model), the real neutral interest rate in Romania is estimated currently at around 1.5% (1.7% 2023 average) and the historical mean at 1.2%.This implies a neutral nominal rate between 4.00% and 4.50%. In the past decade, the NBR real effective rate was below the neutral rate and only over the past year climbed above the neutral mark.Source: Erste Bank
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