IMB Group Public Limited Increases 2007 Loan money disbursed to the Client by the Bank for a certain period and on terms as specified in the agreement. Loan Portfolio By 193%
Kyiv, Ukraine, April 25, 2008,— IMB Group Public Limited (IMB Group), and its subsidiaries International Mortgage Bank (IMB) and Favorit Capital (Family Credit), increased its gross loan money disbursed to the Client by the Bank for a certain period and on terms as specified in the agreement. Loan portfolio from $65 million to $126 million in 2007. The mortgage lending portfolio, which constitutes the largest part of the portfolio, increased 203% from $47 million to $95 million respectively. The sales finance and cash loan money disbursed to the Client by the Bank for a certain period and on terms as specified in the agreement. Loan portfolio increased 70% from $18 million to $31 million.
In 2007, IMB Group secured long term funding resources in the form of a $100 million equity placement in June from several large Private Equity firms and over $109 million in long term funding from international financing institutions such as IFC, EBRD, FMO and DEG to grow both the mortgage and sales finance portfolios.
Driven by the growth of the portfolio, lower cost of funding, improved risk dynamics, IMB Group narrowed its operating loss from -$7.5MM in 2006 to -$5.9MM in 2007.
Greg Krasnov, CEO of IMB Group, said “2007 was a year of building a solid foundation for IMB Group. Our focus on operational and risk excellence helped us to achieve productivity gains both in the sales and headquarters areas. In addition, we increased our sales finance network to approximately 600 points of sales and piloted a very successful cash loan money disbursed to the Client by the Bank for a certain period and on terms as specified in the agreement. Loan product. In 2008, we plan to continue to add value for our shareholders.”
Todd Esposito, CFO of IMB Group, added “The steps we took in 2007 to strengthen our balance sheet will aid IMB Group for several years. In the challenging debt and equity markets we see in 2008, the balance sheet strategy implemented in 2007 is already providing stability for our operations. As we continue to grow, we will remain focused on the profitability of our institution first and foremost.”
For a detailed analysis of 2007 results, corporate governance and shareholder structure, please visit: http://www.imbgroup.com.ua.
About IMB Group Public Limited
IMB Group Public Limited (IMB Group) is Ukraine’s leading consumer finance company that is focused on offering loans to retail customers. IMB Group operates under the brand names International Mortgage Bank (IMB) and Family Credit. Combined, these companies offer mortgages,
Point of Sale
a point at a store or in the selling area where the consumer lending manager (the bank representative) will inform you about the terms of loan, answer to your questions and prepare documents required for loan obtaining.
a point at a store or in the selling area where the consumer lending manager (the bank representative) will inform you about the terms of loan, answer to your questions and prepare documents required for loan obtaining.Point of sale loans, personal loans, and deposits to customers. Both IMB and Family Credit are 100% owned by IMB Group. The main shareholders of IMB Group are Horizon Capital, Warburg Pincus and East Capital with Warrants being traded on the Vienna Stock Exchange and global depositary receipts (GDRs) held with Bank of New York/Mellon. For more information please visit www.imbgroup.com.ua.
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