State-owned lender Eximbank, which specializes in financing exporting companies, made a net profit of EUR 12.4 million in the first nine months of this year, up by 58% compared to the same period of last year, as it increased the lending activity.

In the third quarter, the bank’s profit was close to EUR 3.4 million.

The bank’s assets went up by 16% at the end of September 2015 compared to September 2014, but the asset value was not disclosed. At the end of March this year, Eximbank had total assets of some EUR 900 million.

At the end of last year, the bank was 19th in the local banks’ ranking with a market share of 1%. The Government plans to turn Eximbank into a development bank that would finance a broader range of local companies.

editor@romania-insider.com