Bangkok--9 Feb--EXIM Thailand
Mr. Kematat Saicheur, EXIM Thailand's Acting President, revealed the 2015 operating results of Export-Import Bank of Thailand (EXIM Thailand) that EXIM Thailand posted a net profit of 1,520 million baht, increasing slightly from 1,516 million baht of last year and a total credit outstanding amounted to 73,540 million baht. At the end of December 2015, new loan disbursement during the year totaled 20,307 million baht and non-performing loans (NPLs) ratio stood at 5.43%, accounting for 3,993 million baht. Provision for doubtful accounts totaled 5,654 million baht, 2,890 million baht of which was set aside to comply with the Bank of Thailand's regulation, representing a ratio of loan loss provision against the Bank of Thailand's requirement of 195.65%
EXIM Thailand's core business consists of two main facilities: financing and insurance. In the 2015 Operating results, business turnover derived from the Bank's financing activities amounted to 136,634 million baht. Loan outstanding accounted for 73,540 million baht. Meanwhile, business turnover under export credit insurance and investment insurance accounted for 64,386 million baht, of which 10,142 million baht came from SME business or 15.75% of the overall insured amount. The insurance outstanding accounted for 15,497 million baht at the end of December 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 beyond 87% of overall customer portfolio. EXIM Thailand's new loan approval for SMEs amounted to 32,009 million baht, with an aggregate loan approval amounting to 73,861 million baht, and business turnover for SMEs accounted for 81,767 million baht. At the end of December 2015, SME loan outstanding was worth 29,183 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, the Bank approval new term loans for national development projects in the amount of 11,217 million baht with an aggregate loan approval amount totaling 46,411 million baht and loans outstanding worth 27,565 million baht at the end of December 2015.
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 has approved an aggregate loan amount of 87,099 million baht in AEC intraregional trade and investment financing facilities in. New loan approval accounted for 25,589 million baht while loan outstanding at the end of December 2015 was 41,628 million baht. In addition, risk mitigation facilities to promote investment in AEC expanded consistently, reaching 26,551 million baht.
According to EXIM Thailand's Acting President, in 2016 EXIM Thailand will continue more aggressively to promote its proactive marketing by establishing Marketing Strategy Department to oversee product development and marketing strategy formulation in order to provide entrepreneurs with better access to financial resources available at EXIM Thailand. These facilities include working capital loans and insurance for start-up exporters or business expansion, innovation research and development, cross-border trading, investment in special economic development zones, industrial estates, border provinces and other areas designated by the government as special economic zones. Furthermore, EXIM Thailand will establish a new work unit to develop and deliver financial literacy programs to enhance public knowledge and understanding on international trade and how to manage business, promote Thai product brands and stay competitive in the global market in the long run.