Romanian lender EximBank reports 80% growth in gross profit in first half of 2011

Romanian lender EximBank recorded a gross profit of around EUR 17.94 million in the first half of this year, 80 percent higher than the one reported during the same period in 2010, according to the bank. "All the bank's activities achieved profit increases, but we also achieved a nearly 20 percent lower spending compared to the indicators in the budget”, said Ionut Costea, President of EximBank (in picture).“Guarantees continues to record the best dynamic, considering that the new guarantees commitments' total at the end of June was nearly eight times higher than the level recorded at the end of the same month of 2010”, he added. Eximbank is a specialized banking institution that has a product portfolio focused on three strands - finance, guarantee and insurance. The bank has territorial units in Bucharest, Bacau, Brasov, Constanta, Cluj, Craiova, Timisoara, Buzau, Oradea, Deva, Iasi and Sibiu. Irina Popescu, irina.popescu@romania-insider.com (photo source: Eximband)