Skopje, 29.01.2022

During the period of recovery of domestic economy from the health crisis in 2021, the Development Bank of North Macedonia JSC Skopje (DBNM), as the only fully state-owned development bank, has achieved positive results, by putting all its financial and operational capacity in function of justifying the basic purpose of its establishment - support of the Macedonian economy development in accordance with the state strategic policies, goals and priorities.

Compared to the previous year, the Bank's total assets in 2021 has increased by 21% and amounted to Denar 16.1 billion, with appropriate growth of the loan portfolio by 19%, the loan insurance portfolio by 38% and the factoring portfolio by 11%.

This year, the Bank's activities were aimed at introducing new products such as customs guarantees and the credit-guarantee scheme, realized through the Guarantee Fund, in the name and at the expense of the state. The first two tranches of the EIB 6 credit line in the amount of EUR 59.1 million have been withdrawn and extended on extremely favorable terms for the economy. The third interest-free credit line with a grant component - "Covid 3", funded by the EU through EU4Resilience IPA II Programme and the Government of the Republic of North Macedonia, has been fully realized in the amount of EUR 31 million.

The Bank has achieved a positive net financial result at Denar 39.6 million, which is a 25% increase compared to the achieved result in 2020. According to the Law, the realized profit has been distributed in the Bank's reserves, which strengthens the potential for further support of the real sector in the country.

Skopje, 22.12.2021

Development Bank of North Macedonia has disbursed today the second tranche in an amount of EUR 42.2 million from the European Investment Bank loan. The funds are intended for financing small and medium-sized companies and this tranche will provide support to 132 projects of domestic small, medium and mid-cap companies that will create 373 new jobs.

Most of the funds from the tranche are earmarked for the companies in the trade and production segment (16.4 million euros). The companies use the funds from the credit line through their commercial banks, for financing working capital with interest rate up to 1.6%.

The total amount of 59 million euros, from the both tranches, was disbursed for 182 companies which are expected to create new 463 jobs.

This loan, which agreement was concluded in 2021 between the DBNM and EIB, provided 100 million euros on favorable terms, such as direct support to small, medium-sized and mid-cap companies. The loan supports domestic companies from labor-intensive industries such as production, tourism and services, for fast recovery from the COVID-19 crisis. The EIB loan will help companies ensure business continuity and job retention, while at the same time increasing their productivity and expanding their business.

Skopje, 01.12.2021

As of 19.11.2021, the current members of the Managing Board of the Development Bank of North Macedonia AD Skopje have been reappointed for the same positions with a term of 6 (six) years.

The National Bank of the Republic of North Macedonia issued a decision with preliminary consent for the reappointment of Kire Naumov as Chief Executive Officer and Faruk Ismaili as Chief Operating Officer of the Development Bank of North Macedonia. The members of the Managing Board had already received the confidence for a mandate from the members of the Supervisory Board of the bank, in accordance with the Law on Banks.

The members of the Managing Board of the Development Bank began their mandates in November and December 2019 and managed the state-owned bank for the past two years. The Development Bank actively participated in the implementation of economic sets of measures adopted by the Government to deal with the negative effects caused by the COVID-19 pandemic.

In 2020 and 2021, the Development Bank extended loans to the private sector in the total amount of EUR 132 million, of which EUR 45 million in the form of interest-free loans. During this period of two years, the Development Bank signed the sixth financial agreement with the EIB for 2021/2022 in the total amount of EUR 100 million. By improving the terms and conditions in credit insurance and factoring, the volume of insured and purchased receivables in factoring increased significantly. As of September 2021, the volume increased by 73% and 20% respectively, compared to 2019.

The further capitalization of the bank made in 2020, was of particular importance. It enabled a direct expansion of the bank's product portfolio so that now the Development Bank can offer a customs guarantee to export companies. Recently, through a change of the Law on Development Bank of North Macedonia, a Guarantee Fund was organized within the bank, which established the state credit-guarantee scheme that benefits micro, small, medium companies, as well as large export companies.

The goal of the Managing Board is to continue to develop the state-owned bank as a dynamic, financially strong institution specialized in financial support to small and medium enterprises and wider export support.

Skopje, 26.11.2021

Development Bank of North Macedonia has disbursed today the first tranche in an amount of EUR 16.9 million from the European Investment Bank loan. The funds will provide support to 50 projects of domestic small, medium and mid-cap companies that are expected to create 90 new jobs.

Мost of the funds from the tranche (EUR 12.8 million) are earmarked for the companies in the trade and production segment. The companies use the funds from the credit line through their commercial banks, for financing working capital with interest rate up to 1.6%.

The DBNM loan from the EIB, which agreement was concluded in 2021, provided 100 million euros on favorable terms such as direct support to small, medium-sized and mid-cap companies. The loan supports domestic companies in North Macedonia from labor-intensive industries such as production, tourism and services, for rapid recovery from the COVID-19 crisis. The EIB loan will help companies ensure business continuity and retain jobs, while at the same time increasing their productivity and expanding their business.