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Openings Words

Dear Colleagues!

I present to you the Annual Report of the State Specialized Russian Export-Import Bank for 2018.

As a result of its efficient operation, the Bank, as a part of the Russian Export Center Group managed to strengthen its position as a key export support institution (hereinafter referred to as the REC Group). Thus, in 2018, the amount of the financing in the framework of the export support significantly exceeded both the planned targets and the results of the last year. The number of all supported exporters exceeded the last year's number by more than 50%. The overperformance of the majority of the performance indicators established for 2018 was noted. At the same time, against the background of increasing the volumes of support and performing the established objectives, all stable positive financial indicators and the liquidity level being sufficient to maintain the safety margin were ensured considering an instability of the financial markets and sanctions restrictions.

The support provided by the Bank made a significant contribution for developing export in the Russian Federation and facilitated the delivery of a wide range of goods and services to various markets. The projects supported by the Bank cover almost all continents. The industry support structure is also characterized by a high degree of diversification.

According to the results of the year, the Bank provided the relevant support to 203 exporters from 40 different regions of the Russian Federation. The total volume of supported export amounted to USD 1.7 bln.

In 2018, the Bank expanded the customer base of the companies using various guarantee instruments. Except for the provision of the guarantee services to the large exporters, much attention was paid to different supporting enterprises – the SME entities.

In 2018, the Bank continued to develop and improve the instruments for the financial support of exports, and the first transactions on the export factoring were made.

The priority objectives for the next year include an increase in the volume of support for all Russian non-resource exports, as well as the continual improvement of the quality of the services provided.

The development of a globally competitive non-resource export support system is one of the main challenges that are faced by our country and the REC Group.

In May 2018, the President of the Russian Federation set the objective of increasing the volume of all non-resource and non-energy exports of the Russian Federation by more than one and a half times by 2024. The goal of EXIMBANK OF RUSSIA, as a part of the REC Group, within the framework of this objective, is to ensure the availability of financial resources for Russian companies engaged in the export activities and the relevant conditions for the provision of financial resources for the competitiveness of the Russian offer in foreign markets.

EXIMBANK OF RUSSIA is constantly improving its working methods and tries to satisfy the needs of the exporters with the highest quality. The Bank’s cooperation with other companies of the REC Group ensures the synergy effect from the use of comprehensive support instruments. Moreover, the use of the insurance coverage of EXIAR, JSC allows the Bank to diversify all risks and provide the relevant support to the exporters while maintaining the financial stability and break-even operation.

In order to perform the objectives for 2019, the Bank plans to promote the products approved at the end of 2018 and develop new products for the companies represented in the SME segment as a part of the credit and guarantee support for the exporters.

The main goal of all innovations is to strengthen the support of the SME exporting manufacturers by developing a flexible product range and different standardized solutions for this sector.

While considering the growing demand of the Russian exporting manufacturers for the modernization of all fixed assets and the expansion of the production capacities, the Bank plans to develop a new product aimed at providing the the relevant financing for the creation of various export-oriented industries and their modernization.