Bangkok--5 Aug--EXIM Thailand
EXIM Thailand posted a net profit of 301 million baht with a total loan outstanding amount of 61,189 million baht as a result of the growth of both domestic and overseas long-term loans. The Bank also extended 8,684 million baht to SMEs, accounting for 43% of the total loan approval for the first half year.
Mr. Kanit Sukonthaman, President of Export-Import Bank of Thailand (EXIM Thailand), revealed that EXIM Thailand has achieved its operational targets for the first half year. The Bank registered a net profit of 301 million baht, leaping by 106% from 146 million baht in the corresponding period last year. The Bank’s total loans outstanding at the end of June 2011 reached 61,189 million baht, expanding by 13.31% from the first half of 2010. Such an increase was mostly ascribed to the growth of both domestic and overseas long-term credit. Moreover, total non-performing loans (NPLs) at the end of June 2011 stood at 3,174 million baht or 5.15% of the total loans and accrued interest receivables, down from 6.22% at 2010 year-end.
In the first half of 2011, EXIM Thailand provided 22,540 million baht in loans and export credit insurance to Thai business operators against its full-year target of 34,400 million baht for 2011. Of the 20,409 million baht approved to finance business transactions of Thai exporters, importers and investors at home and abroad, 11,246 million baht was in short-term working capital credit while the remainder 9,163 million baht constituted medium- to long-term loans. To help safeguard Thai exporters against non-payment risks incurred by overseas buyers and boost the exporters’ confidence in business expansion in the global arena, EXIM Thailand approved export credit insurance facilities worth 2,131 million baht. From January-June 2011, the Bank’s insured export credit insurance turnover totaled 66,338 million baht, soaring by 50% compared to the same period of 2010, while insurance obligations at the end of June 2011 accounted for 45,281 million baht, up 59.72% from the corresponding period last year.
Mr. Kanit added that, in response to the government’s policy to support small and medium enterprises (SMEs), in the first half of 2011 EXIM Thailand provided SME exporters with total credit lines of 8,684 million baht or 43% of the total loan approval worth 20,409 million baht. Furthermore, EXIM Thailand also arranged training courses to furnish SME exporters with better understanding on export-related issues such as “Fundamental Risk Management for SME Exporters” and “Export Documents Preparation,” with an aim to enhance their competitiveness in the long run. Another mandate given to EXIM Thailand by the Cabinet was a loan approval target of 5 billion baht to be achieved during March 22, 2011 to March 21, 2012 under the Financial Measures to Support Maritime Businesses. Up to the end of June 2011, 335 million baht has been earmarked for disbursement to maritime business operations, with another 2,746 million baht worth of loans under consideration.
In the latter half of 2011, EXIM Thailand continues to earnestly promote and support the expansion of Thai exports and investments abroad while sharpening SME exporters’ competitive edge in the global marketplace.