Credit Europe Bank N.V. reports exceptional growth in 2007

13.06.2008

Credit Europe Bank N.V. has announced an exceptional financial performance for the reporting year 2007. Experiencing a 54% growth, on the previous year, as at 31 December 2007, the asset size of the Bank increased to € 5.9 billion on a consolidated level. Pre-tax profit grew 70% to € 70.2 million (2006: €41.2 million) and net profit was up by 69% to € 49.3 million (2006: € 29.2 million). Total operating expenses went up by 62% - reflecting the current growth and expansion of the business.

In line with these developments, Credit Europe Bank N.V. further strengthened its capital base and, with 2007 net income, has increased the equity level to €385 million (excluding Tier II capital in the form of subordinated debt amounting to €179.6 million).

75% increase of savings deposits in Western Europe
The Retail Banking Division of Credit Europe Bank N.V. in Western Europe in particular, was able to perform strongly in 2007. Savings deposits increased from € 1.7 billion in 2006 up to € 3 billion in 2007, representing 75% growth. The amount of outstanding retail loans went up 90%. The Bank continues to offer “consistently superior interest rates” - something that it is known for in the market and recognised by the German consumer safety group ‘Stiftung Warentest’.

“We know that our customers require quality products with attractive conditions but  without superfluous extras. To meet these requirements our emphasis is on offering simple, straight-forward and easy to understand savings and lending products. The 2007 results show that the combination has proven to be very successful. Credit Europe Bank N.V. today is well established to assert its top position in the market”, says Eric Schröder, Head of Retail Banking, Europe.

Credit Europe Bank N.V. on steep growth trend
In 2007, investment in Russia was increased by €108 million and in Ukraine by €43 million.
In line with its growth strategy, Credit Europe Bank N.V. opened a new branch in Malta while its Retail operations were launched in the beginning of 2008, offering Savings and Fixed Term Deposit accounts at very competitive rates of interest. The Branch also offers Corporate banking services specialising in commodity and marine finance. 

Further growth in this sector is planned for the coming years.  The Branch employs 21 people, the vast majority of whom are Maltese.  A representative office in China (Shanghai) also commenced its operations during the year.

Find more information at the CEB Annual Report 2007 on http://www.crediteurope.com.mt/fb/sites/mt/en/about/downloads/

Background Information on Credit Europe Bank N.V.
Founded originally as Finansbank (Holland) N.V. in 1994, a major restructuring led to a rebranding into Credit Europe Bank N.V. in 2007. Today, with its headquarters in the Netherlands, Credit Europe Bank operates in Belgium, Germany and Malta, with representative offices in China (Shanghai) and Turkey (Istanbul). Furthermore, as part of the restructuring, Credit Europe Bank N.V. acquired Credit Europe Bank (Suisse) SA and Credit Europe Bank (Romania) SA. Credit Europe Bank N.V. began as a specialized trade finance bank, focusing on wholesale financing of international trade through asset based lending to both local and international corporates. In 1997, retail banking was launched. Today, Credit Europe Bank N.V. is a leading provider of direct services to consumers. It has a large customer base for call money, time deposits and consumer loans in a number of markets.
More than 5,000 experienced bankers work for Credit Europe Bank N.V.

For more information on Credit Europe Bank N.V. and its products you may visit the Malta Branch at 143/2 Tower Road, Sliema; call us on Freephone 8007 3232 or; visit our website www.crediteurope.com.mt.

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