Bangkok--1 Aug--EXIM Thailand
Mr. Kanit Sukonthaman, President of Export-Import Bank of Thailand (EXIM Thailand), announced that for the first half of 2013, EXIM Thailand registered a net profit of 652 million baht, a year-on-year growth of 27.92 percent from 510 million baht. While income remained at approximately the same level as last year, the rise in profit was mainly attributed to a decrease in loan provision, as a consequence of the already satisfactory provisioning level. As at end-June, the total credit outstanding reached 67,710 million baht, rising by 2,545 million baht, representing a 3.95 percent increase. Non-performing loans stood at 3,260 million baht, equivalent to 4.82 percent of total loan, up from 4.22 percent from 2012 year-end.
On export credit insurance, the Bank’s insurance volume improved by 10 percent amounting to 80,318 million baht. This was due to EXIM Thailand’s ability to maintain the existing customer base and an increase in insurance turnover following the burgeoning intraregional trade within ASEAN while claim payment was relatively low.
In 2013, EXIM Thailand was given a specific mandate to support and promote Thai entrepreneurs in the international trade circle, particularly SMEs. The Bank approved an addition of 5,200 million baht in loan to 114 SMEs. Further, EXIM Thailand joined forces with 5 ministries and 5 other specialized financial institutions in an attempt to enhance SMEs’ access to funding sources.
Further, to sharpen the country’s competitive edge in the maritime sector, EXIM Thailand extended merchant marine loans to 11 Thai-flagged carriers, amounting to an aggregate merchant marine credit line of 1,683 million baht.
Amid international trade constraints following the prevailing economic uncertainties in Thailand’s major trade counterparts, which adversely affect Thailand’s export sector, EXIM Thailand’s trade finance activities are expected to slow down.
In the next stage, EXIM Thailand will increase its roles in the area of trade, service and investment facilitation to help tackle business obstacles in neighboring countries. As a state-owned financial institution, the Bank is committed to helping Thai entrepreneurs mitigate international trade risks through the provision of export and investment insurance coverage against both commercial and political risks while continuing to facilitate Thai businesses’ international trade and investment transactions and enhance their liquidity.
In addition, EXIM Thailand will continue to give full-fledged support to investment projects beneficial to the Thai economy, especially those concerning energy and alternative energy production, as well as logistics, infrastructure and public utilities development.
For further information, please contact Public Relations Division, Office of Top Management
Tel. 0 2271 3700, 0 2278 0047, 0 2617 2111 ext. 1140-6