Bangkok--3 May--EXIM Thailand
Mr. Kanit Sukonthaman, President of Export-Import Bank of Thailand (EXIM Thailand), announced that for the first quarter of 2011, EXIM Thailand posted a net profit of 146 million baht, increasing by 32% compared to the first quarter of 2010’s net profit of 111 million baht. As of end-March 2011, the Bank’s total loans outstanding increased from the end of 2010 by 11% to 62,571 million baht. Such increase was mostly ascribed to the growth of long-term overseas credit facilities. At the end of March 2011, the Bank’s non-performing loans (NPLs) stood at 3,469 million baht, equal to 5.50% of the total loans and accrued interest receivables, down from 6.22% at 2010 year-end.
EXIM Thailand’s President revealed that in the first quarter of 2011, EXIM Thailand approved 15,381 million baht in loans to Thai exporters, importers and investors overseas. Of this total, 7,775 million baht was aimed at boosting production capability of the export and manufacturing sectors and 7,606 million baht earmarked for Thai investors overseas. Furthermore, EXIM Thailand also approved export credit insurance facilities in the amount of 1,838 million baht to protect Thai exporters against non-payment risks caused by overseas buyers, helping to enhance their confidence in business expansion in the global market. From January-March 2011, total export credit insurance amounted to 24,354 million baht, increasing by 24% compared to 19,634 million baht for the same period in 2010.
Mr. Kanit also added that in 2011, EXIM Thailand planned to further consolidate its support for Small and Medium Enterprise (SME) exporters in order to enable their business expansion. The Bank will focus on developing exporters’ potential while also giving them financial support. Emphasis will also be placed on the product development strategy that meets SME exporters’ needs along with enhanced cooperation with business alliances.