Bangkok--Feb 10--EXIM
Export-Import Bank of Thailand (EXIM Thailand) continued to grow its
loan book in the fourth quarter of 2004 and showed satisfactory operating results
for the quarter. Mr. Sataporn Jinachitra, President of EXIM Thailand, expressed
satisfaction for the Bank’s steady performance, with outstanding loans increasing
by 826 million baht and the net profit of 150 million baht for the last quarter
of the year. Unaudited financial performance for the whole year of 2004 resulted
in a net profit of 477 million baht, compared with the record high profit of 717
million baht in 2003. The decline in net profit was largely explained by the
lower income from write-back of written-down debt this year which was only 265
million baht, compared with 516 million baht last year. Net interest income also
declined somewhat due to rising cost of fund and the highly competitive nature
of export financing in Thailand.
The Bank made provisions for bad debts and valuation loss on
restructured loans totaling 1,010 million baht, somewhat lower than 1,205 million
baht last year.
The total assets as of end-2004 amounted to 52,806 million baht, up by
10.2% from 47,930 million baht at end-2003, while the total loans and accrued
interest receivables as of end-2004 totaled 49,436 million baht, up by 14.6%
when compared to 43,129 million baht at end-2003. The business turnover of export
bill negotiation and collection accounted for 109,621 million baht, increasing by
56.5%, while that of export credit insurance accounted for 30,307 million baht,
increasing by 7.2 % from the previous year.
At the end of 2004, the Bank’s non-performing loans (NPLs) stood at
4,905 million baht or 9.9% of total loans and accrued interest receivables, up
from 4,834 million baht at the end of the third quarter in 2004 and 4,106 million
baht or 9.5% at the end of 2003. The capital adequacy ratio stood at 17.9%.
According to EXIM Thailand President, in 2004 the Bank placed the prime
focus on the promotion of SME exporters which constituted 88.3% of the Bank’s
total customers. In 2004 the Bank approved credit lines for 736 SME exporters
totaling 15,741 million baht, rising by 6,659 million baht or 73.3% from 2003.
In its role in supporting Thai investment overseas, the Bank provided
loans and guarantees to Thai businessmen investing overseas totaling 22,183
million baht at end-2004, or up by 30.6% from the previous year. The newly
approved credit lines in 2004 which totaled 7,302 million baht included financing
facility for Thai restaurants overseas and long-term loan to the Myanmar government
for the purchase of capital goods such as machinery, equipment, construction
materials from Thai exporters and services from Thai companies.
Moreover, in 2004 EXIM Thailand signed a number of agreements
with several organizations abroad to further benefit Thai exporters and investors.
These agreements included the memorandum of understanding (MOU) with the Banque
pour le Commerce Exterieur Lao Limited (BCEL) for mutual promotion and good relation
s in trade and investment, the MOU with Kreditanstalt fuer Wiederaufbau (KfW) for
financial and technical cooperation which will support the role of Thailand as the
hub of economic activities and transport network in the Greater Mekong Subregion
(GMS), the agreement with Banco National de Desenvolvimento Economic e Social
(BNDES) of Brazil for information exchange and business cooperation, and the
agreement with Vneshtorgbank of the Russian Federation to provide the Revolving
Trade Financing Facility.
In addition, the Bank arranged training courses and seminars for
exporters, investors, and interested persons, under the topics of export document
preparation, risk mitigation for export business, trade and investment
opportunities in potential markets, regulations and trade cooperation between
Thailand and key trade partner countries, promotion of Thai restaurants overseas,
totaling 50 programs with 1,700 participants.
Regarding EXIM Thailand’s policy in 2005, Mr. Sataporn revealed that
the Bank will pursue the active role in developing Thai exporters and investors
investing overseas with financial and non-financial assistance. The missions of
particular attention in 2005 consist of developing domestic entrepreneurs to be
new exporters and strengthening small-sized exporters, promoting small- and
medium-sized exporters’ expansion of their export businesses, and encouraging
large exporters and potential Thai businessmen to expand their investments abroad,
with continuous development of the Bank’s role as exporters’ informed and
dependable friend.
About Export-Import Bank of Thailand
Export-Import Bank of Thailand is a financial institution wholly owned
by the Royal Thai Government under the Ministry of Finance’s supervision. The Bank
was established by the Export-Import Bank of Thailand Act B.E. 2536 (1993) which
empowered the Bank to engage in any financial activities customary to commercial
bank practices, except for accepting deposit from the general public. The Bank’s
objective is to provide financial services to strengthen the competitive edge of
Thai exporters and investors abroad while contributing to the earning or saving
of foreign exchange.
Export - Import Bank of Thailand (EXTM Thailand)
Operation Resolts
Approved Credit Lines End of Dec End of Dec
2004 2003
1.Credit facilities 95,051.0 77,749.2
Pre-Shipment Financing 55,939.5 48,139.6
Term Loan for Business Expansion 8,678.3 5,852.7
ท Term Loan for Machinery Upgrading 183.3 259.5
ท Financing Facility for Hotel Businesses 2,668.9 102.9
Merchant Marine Financing 3,591.6 2,192.9
Financial Facilities for Overseas Investment 22,104.3 16,976.1
Debt restructuring 4,737.3 4,587.9
2.Export Credit Insurance 11,500.0 10,962.5
Total credit lines 106,551.0 88,711.7
Business Turnover Jan - Dec Jan - Dec
2004 2003
ท Export bills under negotiation and collection 109,620.6 70,056.9
ท Export Credit Insurance 30,306.9 28,264.5
Total business turnover 139,927.5 98,321.4
Export - Import Bank of Thailand (EXTM Thailand)
Statement of Income
For the periods
Unit : Million Baht
2004 2003
Quarter 4 Jan - Dec Quarter 4 Jan - Dec
(Unaudited) (Audited)
Net interest income 338 1,264 438 1,409
Non-interest income 342 823 449 1,034
Total income 680 2,087 887 2,443
Non-interest expenses 191 600 135 521
Profit before provisions for loan loss and possible loan loss and loss 489 1,487 752 1,922
from debt restructuring
Provisions for loan loss and possible loan loss and loss from debt 339 1,010 485 1,205
restructuring
Net profit 150 477 267 717
Balance Sheet
Unit : Million baht
2004 2003
As of Sep 30 As of Dec 31 As of Dec 31
Assets (Reviewed) (Unaudited) (Audited)
Cash, interbank and money market items - net 3,322 2,822 4,071
Investments 2,329 2,672 1,578
Loans and accrued interest receivables 48,610 49,436 43,129
Less Allowance for doubtful accounts 4,095 4,404 3,523
Other items 1,494 2,280 2,675
Total assets 51,660 52,806 47,930
Liabilities and Capital
Deposits 4,956 4,860 3,287
Interbank and money market items 7,313 8,681 10,129
Borrowings 30,122 30,050 24,837
Other liabilities 408 436 328
Capital 8,861 8,779 9,349
Total liabilities and capital 51,660 52,806 47,930
Non-performing Loans (NPLs)
NPLs as of end-2003 4,106 Million baht
Add New and re-entry NPLs 1,659 Million baht
Less NPLs exit and reduction 860 Million baht
NPLs as of end-2004 4,905 Million baht
For further information, please contact Public Relations Division, Office of Top
Management Tel. 0 2271 3700, 0 2617 2111, 0 2278 0047 Ext. 1140-1146 End.