FIMBank plc - Interim Directors’ Statement

Thursday, November 5th, 2015

On 05 November, FIMBank plc issued its Interim Directors’ Statement updating the market on its performance since the publication of its interim results as at 30 June 2015. The Board of Directors explained that during the third quarter of 2015 FIMBank continued with its consolidation strategy to turnaround the core operating business, mainly through the reorganization of its risk management processes as well as further diversification of its funding sources. The Group reported a profit during the third quarter of the current financial year.

The Directors also explained that a new core factoring strategy has been adopted and is being rolled out across the Company’s subsidiaries and joint-ventures. This will allow FIMBank to respond with agility to the changes in its businesses. Moreover, FIMBank will continue to focus on its core operations, namely: banking, forfaiting, factoring and treasury management.

Together with the recent appointments of Mr. Murali Subramanian as FIMBank’s new Chief Executive Officer (CEO) and Mr. Simon Lay as Deputy CEO, on 02 November 2015 FIMBank also appointed Mr. Howard Gaunt as the Group’s new Chief Operating Officer. The latter is however still subject to regulatory approval.

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