International Finance Corporation (IFC), part of the World Bank, has increased by USD 20 million the financing granted to local lender Bancpost, which is part of Greek group Eurobank. The bank will use the money to support the import-export activities of local companies.

Bancpost has thus accessed total loans worth USD 80 million through IFC’s Global Trade Finance Program (GTFP). IFC’s USD 5 billion GTFP program helps banks deliver trade financing by providing companies with risk mitigation in new or challenging markets.

Bancpost recorded a net profit of EUR 7.8 million in the first half of the year. This was due to the cut in operational costs and the drop in non-performing loans (NPL).

editor@romania-insider.com