Credit Europe Bank has strengthened its position as a solid international financial services group, growing towards the top 10 ranking among Dutch banks as measured by its total balance sheet size.

In the field of commodity finance and project finance, the bank achieved a record transaction volume of $12.5 billion (2007: $12 billion), though it applied stricter risk control mechanisms to its counterparties because of the volatility on the markets.

The direct retail business in the euro-zone countries Belgium, Germany, Malta and the Netherlands pursued its long term growth strategy and increased the total deposit size to €5.2 billion (2007: €2.9 billion).

Outside the euro-zone, the bank further consolidated its position in commercial banking activities.

Mr TC Beriker, CEO of Credit Europe Bank said:
“I am pleased to announce that Credit Europe Bank has shown stability and growth in a very difficult financial environment. Assets size has grown substantially and our net profit has also recorded a significant increase. Our traditional banking model, focusing on trade and project finance, commercial banking and retail banking has proven to be successful. Also in difficult market circumstances we have been able to retain our clients’ trust. We will maximize our focus on matching our short term credits with funding and will enrich the commodity finance franchise by adding new commodities next to metals, petrochemicals, agrochemicals, energy and soft commodities.”

Key figures (Euro - millions)

As at end 2008, Credit Europe Bank had a total asset size of €9.5 billion. It employs over 6,000 professionals in Belgium, Germany, Malta, the Netherlands, China, Dubai, Romania, Russia, Switzerland, Turkey and Ukraine, serving more than 3 million customers worldwide.