Bangkok--6 May--EXIM Thailand
Mr. Kanit Sukonthaman, President of Export-Import Bank of Thailand (EXIM Thailand), announced that for the first quarter of 2012 EXIM Thailand posted a net profit of 159 million baht, increasing by 9% compared to the first quarter of 2011’s net profit of 146 million baht. In the first quarter of 2012, net interest income increased by 32% due to a 7% increase in average loans outstanding and rising interest margin over the corresponding period in 2011. The Bank’s operating costs decreased by 5% from the year earlier. As of end-March 2012, EXIM Thailand’s total loans outstanding increased by 3% to 64,371 million baht, compared to 62,571 million baht in the first quarter of 2011. Such increase was ascribed to the growth of long-term loans extended to support domestic projects, especially Term Loan for Business Expansion and Merchant Marine Financing. At the end of March 2012, the Bank’s non-performing loans (NPLs) stood at 3,374 million baht which was equal to 5.24% of the total loans and down from 5.54% as of the end of March 2011.
EXIM Thailand’s President revealed that in the first quarter of 2012, the Bank’s loan approval amount increased by 5,784 million baht. Of this total, 1,504 million baht was export-import working capital credit and 4,280 million baht was term loans for project investments and national development. Business turnover of export-import financing facilities accounted for 39,570 million baht. Furthermore, EXIM Thailand provides export credit insurance to help exporters mitigate overseas non-payment risks caused by commercial or political reasons while boosting exporters’ confidence in expanding businesses in both existing and new markets. Export turnover covered by EXIM Thailand’s credit insurance totaled 32,414 million baht, a 35% increase over the corresponding period in 2011 while insurance obligations at end-March 2012 accounted for 46,138 million baht, a 30% growth from the same period in 2011.
With regard to the Bank’s implementation of the government’s policy to support Small and Medium Enterprise (SME) exporters in 2012, EXIM Thailand approved 1,741 million baht in loans for SME exporters, constituting 30% of the Bank’s total loan approval amount. For the Financial Assistance Scheme for Maritime Business designated by the Ministry of Finance, the Bank approved additional loans of 586 million baht, making up the total amount of 3,666 million baht in loan approval with the drawdown amount worth 324 million baht as of end-March 2012.
For 2012, EXIM Thailand will continue to focus on bolstering the competitiveness of Thai SME exporters by extending financial facilities, namely short- and long-term credit for export, import, domestic and overseas investment promotion as well as export credit insurance. The Bank will also emphasize non-financial assistance including SME training programs to furnish SME exporters with basic knowledge on export businesses as well as preparing business entrepreneurs for the establishment of ASEAN Economic Community (AEC) in 2015 while continuing to steadfastly support the government’s economic development policy through various financing facilities.