Bangkok--Aug 2--EXIM
Mr. Sataporn Jinachitra, President of Export-Import Bank of Thailand (EXIM Thailand), announces the Bank’s operating results in the second quarter of 2005 which registered a net profit of 50 million baht, declining from 61 million baht in the same period in 2004. Net interest and dividend income accounted for 334 million baht, equivalent to the corresponding period of last year while non-interest income rose by 87.4% to 207 million baht. In the second quarter of 2005, the Bank had provisions for bad debts and loss from debt restructuring of 335 million baht and non-interest expenses of 156 million baht, a year-on-year increase of 40.7% and 6.9%, respectively. Nevertheless, in 2005 first half, the Bank posted a net profit of 203 million baht, similar to the same period in 2004.
EXIM Thailand’s total assets as of the end of June 2005 stood at 60,644 million baht, rising by 14.8% from 52,806 million baht at year-end 2004. The loans and accrued interest receivables as of June 2005 totaled 52,047 million baht, an increase of 5.3% from year-end 2004. Meanwhile, the Bank’s non-performing loans (NPLs) slightly increased to 5,196 million baht, accounting for 9.98% of total loans and accrued interest receivables, when compared to 4,905 million baht or 9.92 of total loans and accrued interest receivables as of end-2004. The capital adequacy ratio at the end of June 2005 was 17.7%.
According to EXIM Thailand President, in support of the government policy to develop SME exporters, the Bank opened the “SME Export Service Center” in June 2005 to serve as an advisory service center for SMEs wishing to start export business but lacking relevant knowledge or experience. The EXIM Thailand’s SME Export Service Center also provides integrated pre- and post-shipment financing to SME exporters.
Mr. Sataporn added that recently EXIM Thailand won the top award for Thailand’s state-owned financial institutions in 2005 given by the world’s leading independent arbiter of branding, Superbrands Thailand. The Superbrands award highlights the Bank’s success in establishing a strong and outstanding stature among Thai financial institutions as well as winning the trust and support of Thai exporters and investors as a government-owned financial institution specialized in serving Thai exporters and investors abroad with both financial and advisory services. It is also hoped that the Superbrands status will help stimulate interest among Thai exporters in the value and importance of brand building.
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.
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