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EximBank goes up to the fourth position in top export factoring

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2016-04-20 10:13

Having a 56.6 Mio Euro turnover in 2015, EximBank has gone up to the fourth position in the ranking of the Romanian export factoring institutions as per the data of Factors Chain International (FCI), the most important international organization in the field, said the bank in a statement.

”Our positioning in the first part of the top FCI affiliated suppliers of factoring on the local market comes as a result of the last three years of efforts to strengthen our capacity of generating customized financial solutions by giving priority not only to financing activity, but also to complementary banking services such as factoring. The companies have approached us more confidently which allowed us to constantly grow on this segment: by doubling up the turnover on external factoring we have managed to register a total turnover three times higher in 2015 than in 2014, on consolidated figures. We have seen the same trend for the first part of this year and we feel optimistic in terms of the end of 2016 results.”, said Traian Halalai, Executive President of EximBank.

According to the Factors Chain International data, in 2014, EximBank has ranked fifth among the export factoring suppliers, with a total value of the exporters’ assigned invoices of 21.8 Mio Euro. The bank has been a member of FCI since 2013.

During last year, EximBank has focused its activity on two types of products – export factoring without recourse and internal factoring (with and without recourse), the international factoring operations having the most important contribution to the bank’s turnover (85%).

In terms of the clients’ profiling, the offer flexibility and its advantages – the fact that financing may be up to 100% of the nominal invoice value, as well as the process rapidity have attracted both corporate and SME companies, small companies being more active ( 69% out of the clients portfolio).

EximBank is a specialized financial institution, actively involved in supporting and promoting the Romanian business environment. Its specific financial instruments are targeted exclusively to the corporate segment and accessible to any kind of company SMEs or big companies, active only locally or involved in international transactions. During the last three years, the bank has focused on the improvement of its complementary banking services and it developed and consolidated its portfolio of treasury products, cash management, trade finance and factoring.

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