Bangkok--10 Feb--EXIM Thailand
EXIM Thailand successfully extended new loans and export credit insurance beyond its 2009 targets. The Bank approved new credit lines in the total amount of 54,298 million baht or 146% of the goal set by the Ministry of Finance (MOF). Of this total, new credit approval under the EXIM Credit Fast Track program accounted for 17,579 million baht or 352% of the target set by the MOF while export credit and investment insurance amounted to 7,617 million baht, increasing by 368% from 2008. The Bank posted a net profit of 347 million baht with declining non-performing loans (NPLs). For the year 2010, the Bank will continue to actively expand business, launch new financial facilities, open more sub-branches and engage in business process improvements.
Dr. Apichai Boontherawara, President of Export-Import Bank of Thailand (EXIM Thailand), said that the successful expansion of new loans and export credit insurance coupled with efficient organizational management resulted in the satisfactory 2009 operating results with a net profit reaching 347 million baht or 347% of the year-end target. New credit approval totaled 54,298 million baht or 146% of the target placed by the MOF. Credit approval under the EXIM Credit Fast Track program was 17,579 million baht or 352% of the MOF-designated target of 5,000 million baht. Meanwhile, export credit and investment insurance approval amounted to 7,617 million baht, increasing by 368% from 2008, with the insurance value totaling 60,357 million baht, up 51% compared with the year 2008’s figure. In addition, NPLs stood at 4,370 million baht or 8.16% of the total loan outstanding, decreasing from 9.24% in 2008.
In 2009, EXIM Thailand strengthened its cooperation with banks in foreign countries, such as Indonesia and Russia, under the “Buyer’s Credit” scheme which aims to promote Thai goods and services abroad. The Bank also introduced a new service called “EXIM for Your Suppliers” to boost liquidity of suppliers of the Bank’s customers. The approved credit amount under EXIM for Your Suppliers facility was 106 million baht with additional loans valued at 313 million baht under legal document preparation procedure.
Furthermore, EXIM Thailand enlarged its branch network by launching new sub-branches under the “One Branch Two Banks” or dual-bank branches program in collaboration with the Government Savings Bank (GSB). At present, EXIM Thailand operates 7 sub-branches located in Bang Rak, Om Yai, Wongwian Yai, Tiwanon, Sathu Pradit, Chakkrawat and Surat Thani. The Bank plans to open another five sub-branches in Bangkok and the vicinity areas by year-end.
EXIM Thailand’s President also stated that, following the directives of Mr. Pruttichai Damrongrat, Deputy Finance Minister, EXIM Thailand would place more emphasis on streamlining its business processes and export promotion, particularly via the Bank’s Buyer’s Credit and EXIMSurance facilities. This year EXIM Thailand will also continue to step up loan and EXIMSurance provision in parallel with launching new sub-branches and accelerating its BPI project in order to better serve customers, upgrade banking operations and management as well as expanding import finance facilities and the Bank’s role as a development bank.
For further information, please contact Public Relations Division, Office of Top Management
Tel. 0 2271 3700, 0 2278 0047, 0 2617 2111 ext. 1140-7