Thai EXIM Bank sees 2008 loans and credit insurance up 47%

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The Export-Import Bank of Thailand (EXIM Bank) saw its loans and export credit insurance during last year increase by 47.3 percent while the business turnover rise 2.7 percent, when compared with those of the previous year.

Dr.Apichai Boontherawara, president of the EXIM Bank, yesterday disclosed that the total value of new loans and guarantees to Thai exporters, export-related businessmen and oversea Thai investors have reached nearly 29.8 billion baht, an increase of 47.3 percent from 2007, and the bank’s business turnover slightly gone up to almost 120.7 billion baht, about 2.7 percent more than that of 2007.

Meanwhile, he said, the bank’s outstanding loans at the end of last year stood at some 50.7 billion baht, declining by 3.8 percent when compared with the previous year-end.

Dr.Apichai said EXIM Bank last year earned a pre-provision operating profit of 1.36 billion million baht, up 1.2 percent from 2007, but had to make provision for bad debts and doubtful accounts at the amount of 1.16 billion baht, resulting in a net profit of 201 million baht form 506 million baht in 2007.
This year, Dr.Apichai said, EXIM Bank will further emphasize its development banking role, furnishing Thai entrepreneurs with complete business solutions, ranging from loan, export credit insurance and financial advisory services, to fulfill its commitment to provide more than just export finance but also economic development solutions.

Moreover, the EXIM Bank president also disclosed that the bank will cooperate with public and private sectors, as well as commercial banks, in being an export credit insurance service center for Thai exporters seeking international trade risk coverage and is expecting an capital increase of five billion baht from the Ministry of Finance so that it could provide more export credit insurance facilities to Thai exporters hit by the world’s financial dislocations.

As the measures to play more proactive role in international trade promotion and support, EXIM Bank will set up specialized “Country Desk” and “Industry Focus Desk” units consisting of bank staff members possessing in-depth knowledge on target industries in the CIVIL countries, namely Cambodia, Indonesia, Vietnam, India and Lao PDR, and to help Thai entrepreneurs explore new business opportunities, the bank has also established Thai EXIM International Company Limited, which will open its first branch in Moscow, expectedly to be within this month.

 

 

 

 

 

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