GARANTAREA The history of FNGCIMM

• 2002-2004

The first years of activity of the FNGCIMM saw the company position itself according to the economic context of the moment. In 2004, the Fund saw 100 new guarantees granted, amounting to 27 million lei, for loans granted of approximately 60 million lei and in support of over 10,000 jobs.

• 2005-2006

The local guarantee funds get created, which are autonomous joint stock companies affiliated to the Fund (in which FNGCIMM SA - IFN is a majority shareholder) headquartered in Craiova, Focşani and Sfântu Gheorghe (county of Covasna).

Also, starting with 2005, the Fund became an active member of the AECM.

In 2006, The Fund begins the regulation process to become a non-bank financial institution (IFN), together with the other guarantee funds, thus becoming regulated and overseen by the NBR. At the end of 2006, the subscribed and paid-in share capital of the Fund had increased to 261,412,300 lei, from 90,842,300 lei at the end of 2005.

• 2007

The creation of products which would contribute to the absorption of structural funds by SMEs, and that is inconsult or ininvest

Also, two new financing products were drafted, namely rizont 2007 and inancing facility for leasing companies

• 2008

In Q4, the banking sector and the Romanian economy faced the impact of the international economic and financial crisis.

In 2008, the accomplishments of the guarantee activities were 836.1 million lei in granted guarantees. Compared to the accomplishments of 2007, the value of the guarantees granted increased 52.5%, and the volume of guarantees made using its own funds, represents a value increase of about 26.5%, even though the number of guarantees granted has decreased, due to the important changes which occurred in the request for guarantees.

• 2009

The activity of the Fund was expanded for the management of state guarantees, based on the mandate granted by the Ministry of Public Finance, as part of the Government program intended for individuals who do not own a home, the well-known rima Casa (First Home) program.

The Fund also acted towards granting government guarantees for the eligible beneficiaries of Government Emergency Ordinance 79/2009 concerning the regulation of some measures for stimulating the absorption of funds allocated through the National Rural Development Program.

• 2010

Starting in April, it began the cooperation with FRCG and using counterguarantees related to the two de minimis schemes for SMEs.

In 2010, the subscribed and paid-in share capital was increased, from 261,412,300 lei, on December 31st, 2009, to 681,292,300 lei, on December 12th, 2010.

• 2011

The best year in terms of the value of the guarantees granted, of the loans backed, as well as of the number of jobs created or preserved in the economy.

• 2012

With a portfolio of approximately 162 million euros granted in the first quarter of 2012 alone, FNGCIMM is also a co-organizer of the AECM Annual General Assembly meeting.