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The General Yearly Shareholders' Meeting of the JSCB "Eximbank" has taken place.
On April 15, 2003, the General Yearly Shareholders Meeting of the JSCB "Eximbank" has taken place, having analyzed the financial results of the Bank's activity in 2002.

According to the shareholders decision, 48% or 4.4 mln MDL out of the Bank's 9.2 mln MDL net profit will be directed to the payment of dividends for 2002. The reserve fund will be completed with 5% of net profit or 0.5 mln MDL, and for the bank's development will be allocated 4.3 mln MDL or 47%.

The Shareholders' Meeting has examined and approved the Bank Council Report, the Revision Committee Report, the yearly Report of the Bank's Board of Administration and the Report on the Fulfillment of the Business-Plan for the year 2002.

At the meeting it was stated that the JSCB "Eximbank" has fulfilled the basic indicators envisioned in the Business-plan for 2002. The bank's Return on Assets (ROA) in 2002 constituted 4.2%, and the Return on Equity (ROE) - 22.5%. The bank's foreign currency balance has increased in 2002 with 73.7 mln MDL (37.1%) and constituted by the end of the year 272.3 mln MDL. The bank's credit portfolio has increased with 24.3 mln MDL (25.3%), reaching the amount of 120.6 mln MDL. The overall amount of granted credits by the end of 2002 was 498.3 mln MDL. The aggregate remainder of bank's attracted resources has increased with 60.4 mln MDL (56.0%), attaining the amount of 168.3 mln MDL, including the deposits of individuals increasing with 41.0 mln MDL (104.3%), deposits of corporate clients - with 19.4 mln MDL (28.4%) and constituting respectively 80.3 mln MDL and 88.0 mln MDL.

The growth of bank's client base in the reporting year has accounted 31.9%. By December 31st 2002 the bank had 11861 clients, out of which 3483 were corporate clients and 8378 - individuals.

In 2002 the bank became an associate member of the international payment system "VISA International" and has began the issuance and maintenance of credit and debit cards in the framework of international payment systems "MasterCard" and "VISA International", has involved more actively in the agricultural and small business crediting project, set up by the International Fund for Agricultural Development (IFAD) and United Nations (UN).

The general shareholders' meeting has approved the strategy for further territorial development of the bank, according to which in 2003 the opening of new Representative Offices of the bank is planned in Chisinau, as well as in Balti, Soroca, Orhei, Edinet, Hancesti, and Cahul.

The bank's auditing company selected for 2003 is "KPMG-Moldova"

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