Starting this week, the EximBank agency in Timisoara will function in a new location as a new step in the bank’s strategy for optimizing the working flows and operational costs reduction, said the bank in a statement.
”We continue our actions directed to maintaining an efficient administration framework for EximBank and part of this process is the costs’ optimization related to the locations of some of our units in the country. There are spaces – such was the one in Timisoara – that are not responding to our current needs, vast spaces more adequate for retail banking. We will continue to increase the efficiency of our commercial network especially now, when the real estate market is still offering opportunities, so that we will be able to identify the solutions allowing us to have a better interaction with the business community and to facilitate the communication between the businessmen and our consultants.”, said Traian Halalai, Executive President of EximBank.
EximBank Timisoara is now functioning in Timisoara, 10, Coriolan Brediceanu Street, City Business Centre, Building C, 6th floor. The agency covering the Timis, Hunedoara and Caras-Severin counties, may be reached at phone +4021.405.37.04, or e-mail: timisoara@eximbank.ro
During the last two years, on the background of the restructuring processes implemented by the banking industry, EximBank extended its network with 9 units, reaching now a total of 20 agencies. The expansion model was focused on ensuring the efficient national coverage, with agencies employing a maximum of three officers, no back office services and serving an average of two counties.
EximBank is a specialized bank exclusively targeted to the corporate segment, actively involved in supporting and promoting the Romanian business environment, offering its financial instruments to local companies’ projects. Its specific financial instruments of financing, guaranteeing and insuring may be accessed by any company, either SME or big company, involved in international transactions or active only on internal market.
The bank reported a net profit of almost 40 Million Lei for the first semester of this year, 26% higher than the one registered for the same period in 2014, extending its portfolio and national presence.
Additional details on products: www.eximbank.ro or informatii@eximbank.ro.
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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