กรุงเทพฯ--31 ต.ค.--EXIM BANK
Mr. Pisit Serewiwattana, President of Export-Import Bank of Thailand (EXIM Thailand), announced the Bank's operating results for the first nine months of 2016. EXIM Thailand posted satisfactory performance with a net profit of 931 million baht and achieved its target of enhancing trade and investment competitiveness of Thai entrepreneurs, particularly SMEs. As of the end of September 2016, the Bank recorded outstanding loans of 74,468 million baht, a 928 million baht growth from the end of 2015, with new loan drawdown of 16,020 million baht during the year and partial repayment of existing loans. This contributed to a business turnover of 90,717 million baht, of which 59,707 million baht was that for SMEs. Outstanding SME loans amounted to 30,867 million baht, surging 7,604 million baht or 32.68% year-on-year. This was attributable to EXIM Thailand's strengthened collaboration with public and private enterprises concerned and development of new products catering for SMEs, especially small businesses which have limited access to financial facilities of commercial banks. Recently, EXIM Thailand has introduced "EXIM Instant Credit," a pre- and post-shipment working capital loan at an interest rate of 3.5% p.a. and requiring only personal guarantee. Offering a credit line of up to 500,000 baht, the new facility features quick approval within seven business days and is aimed to help boost SME exporters' liquidity as well as drive Thai export growth in the fourth quarter of 2016.
EXIM Thailand's non-performing loan ratio as of the end of September 2016 stood at 5.07% or 3,774 million baht. The Bank's allowance for doubtful accounts was 6,424 million baht, of which 3,111 million baht was minimum provisioning requirement by the Bank of Thailand, representing a ratio of loan loss provision against the requirement of 206.52%, hence enabling the Bank to maintain a strong financial status.
In addition, EXIM Thailand has leveraged on its unique strength as an export credit insurance agency to boost Thai exporters' competitive advantage by enabling them to offer attractive payment terms and expand markets with confidence and without concerns about foreign buyers' non-payment. With the launch of "Instant SMEs Export Insurance" facility in mid-2016, the Bank recorded an increasing number of export credit insurance customers, and generated 41,671 million baht during January-September 2016 in export and investment business turnover, of which 8,135 million baht came from SMEs' exports, representing 19.52% of the Bank's total export credit insurance business. Export credit insurance business turnover is expected to gradually improve and meet the target set for the end of 2016.
From the fourth quarter of 2016 and through the year 2017, EXIM Thailand aims to accelerate its development of products and services to serve Thai entrepreneurs' trade and investment in emerging markets known as New Frontiers and CLMV (Cambodia, Lao PDR, Myanmar and Vietnam). At present, the Bank has approved a total accumulated amount of 52,328 million baht in international trade and investment loans, with outstanding loans accounting for 31,641 million baht as of September 2016. EXIM Thailand has planned to open representative offices in Myanmar, Lao PDR, Cambodia and Vietnam in the next 1-2 years to promote and support Thai trade and investment in CLMV.
Meanwhile, EXIM Thailand will team up in a more concrete way with public and private enterprises, especially those with SME support mission, such as Office of Small and Medium Enterprises Promotion, Small and Medium Enterprise Development Bank of Thailand, Ministry of Commerce and Ministry of Foreign Affairs, to foster partnership in the expansion of financial facilities, EXIM Thailand's export credit insurance in particular, and work closely with them as "Thailand Team." The Bank is ready to serve as a financial mechanism to facilitate Thailand's international trade expansion and fuel export and economic growth
"We have been striving to develop our organization and products to become a center for financial support and risk protection for Thai entrepreneurs engaging in trade and investment overseas. Such effort is in response to the government's policies and goals, building on our expertise in risk management of international trade and investment and closing the gaps in the banking system, to ensure successful cross-border expansion of Thai businesses," added Mr. Pisit.
For further information, please contact Public Relations Division, Office of Top Management
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