Romanian state-owned bank increases profit fivefold

Romanian state-owned bank EximBank made in the first quarter of 2015 a profit of EUR 7.8 million, five times higher than the one recorded in the same period last year. Its net banking income went up by 45% to EUR 13.4 million. The assets increased by 5% compared to the end of 2014, to EUR 921 million. EximBank’s volume of new assumed exposures reached EUR 61.8 million in the first three months of the year. The bank’s net loan portfolio went up by 6% compared to the end of last year, said the bank’s president Traian Halalai. The total exposure amounted to EUR 1 billion. It granted loans mostly to companies active in the production and distribution of energy, or in the metallurgy or mining industry. EximBank manages on behalf of the Romanian state exposures of EUR 516 million. editor@romania-insider.com