Estonia, Export, Financial Services, Loan, Markets and Companies

Since being founded in 2000, KredEx has earned a profit of 4 million euros altogether.

KredEx' manager Andrus Treier said that last year's results were strong, KredEx's gross income grew by 6.2% while operating costs were at the previous year's level.

"The losses connected to economic recession were expressed primarily in KredEx's 2010-2011 results, by today the payment problems of loan-takers have considerably decreased and thus results have improved. While in crisis years, every fifth company had problems paying loans, by now less than 5% of companies have problems," said Treier.

KredEx issues loans and loan guarantees to companies, provides partial loan guarantees for home loans of young families and specialists and provides loans and loan guarantees for apartment buildings for renovation.

At the end of 2012, KredEx's foundation capital was 70.9 million euros, balance sheet volume 191.7 million euros and portfolio of guarantees 149 million euros.