Bangkok--10 Aug--EXIM Thailand
Export-Import Bank of Thailand (EXIM Thailand) registered a net profit of 779 million baht in the first half of 2015 and total credit outstanding of 70,111 million baht. At the end of June 2015, NPLs ratio stood at 6.98%, accounting for 4,894 million baht. Provisions for doubtful accounts totaled 5,212 million baht, 3,024 million baht of which was set aside to comply with the Bank of Thailand's regulations, representing a ratio of loan loss provision against the Bank of Thailand's requirement of 172.36%.
Mr. Suthanai Prasertsan, EXIM Thailand's Acting President, revealed that EXIM Thailand's core business consisted of two main facilities: financing and insurance. During the first half of 2015, business turnover derived from the Bank's financing activities amounted to 69,410 million baht. Loan outstanding accounted for 70,111 million baht while new loan disbursement in 2015 totaled 12,266 million baht. Meanwhile, business turnover under export credit insurance and investment insurance accounted for 35,615 million baht, of which 4,379 million baht came from SME business or 12.30% of the overall insured amount. The insurance outstanding accounted for 30,530 million baht at the end of June 2015.
Giving priority to SME exporter promotion, EXIM Thailand has fostered cooperation with related public and private agencies, resulting in an expansion of the Bank's SME customer base to reach 80% of overall customer portfolio. EXIM Thailand's new SME loan approval amounted to 14,221 million baht, with an aggregate SME loan approval amounting to 59,933 million baht, and loan outstanding to SME exporters worth 20,815 million baht.
With respect to EXIM Thailand's role in supporting the government's strategic plan and policy, including renewable energy development, telecommunication-related infrastructure development, merchant marine and logistics financing, at the end of the first half 2015, the Bank approved new term loans for national development projects in the amount of 3,585 million baht with an aggregate loan approval amount totaling 20,403 million baht and loans outstanding worth 12,417 million baht.
In sync with EXIM Thailand's vision to "be a bank that paves the way for new opportunities for Thai businesses in the global arena, particularly in the ASEAN Economic Community (AEC)," the Bank approved AEC intraregional trade and investment financing facilities in the amount of 83,391 million baht. New loan approval accounted for 11,897 million baht while loan outstanding at the end of 2015 first half was 38,429 million baht. In addition, risk mitigation facilities to promote investment in AEC expanded consistently, reaching 24,809 million baht.
According to EXIM Thailand's Acting President, in the latter half of 2015 the Bank will continue to focus on offering full-fledged financial support to exporters, export-related entrepreneurs, investors, and particularly small-scale entrepreneurs wishing to commence or expand their export businesses. New products to promote SMEs entrepreneurs' competitiveness comprise of "SMEs Start-up Credit" to support new SME exporters already obtaining purchase orders but lacking working capital by providing them with funds for goods preparation during the pre- and post-shipment period and "SMEs R&D and Innovation Credit" to promote Thai SMEs' research and development for product/service improvement and innovation leading to further business expansion while adding more value to Thai exports, especially those projects in cooperation with related public and private agencies. Other products to provide integrated services to SME exporters include SMEs Export Delight, SMEs Border Trade, SMEs Relocation & Expansion, Financing Facility for Special Economic Development Zones and Buyer's Plus Supplier's Credit, which were introduced since the beginning of 2015.