Exim Thai­land’s profit tops Bt1 bn for 9 months

The Nation - - BUSINESS -

THE Ex­port-Im­port Bank of Thai­land (Exim Thai­land) posted a net profit Bt1.01 bil­lion in the first nine months of this year, the bank’s pres­i­dent Pisit Serewi­wat­tan said yes­ter­day.

He said the bank recorded out­stand­ing loans of Bt84.93 bil­lion, a Bt10.46 bil­lion growth year on year, de­rived from a new loan draw­down of Bt18.57 bil­lion dur­ing the year with par­tial re­pay­ment of ex­ist­ing loans. This con­trib­uted to a busi­ness turnover of Bt115.71 bil­lion.

The bank helped boost the com­pet­i­tive­ness of Thai en­trepreneurs, par­tic­u­larly small and medi­um­sized en­ter­prises (SMEs) in in­ter­na­tional trade and in­vest­ment. SME busi­ness turnover was Bt74.03 bil­lion. Out­stand­ing loans to SMEs amounted to Bt35.89 bil­lion, rep­re­sent­ing a Bt5.02 bil­lion or 16.27 per cent year-on-year growth, Pisit said.

Exim Thai­land's non-per­form­ing loan (NPL) ra­tio at the end of Septem­ber stood at 3.96 per cent, with NPLs amount­ing to Bt3.36 bil­lion or a Bt407 mil­lion year-onyear drop. The bank's al­lowance for doubt­ful ac­counts was Bt7.68 bil­lion, of which Bt3.41 bil­lion was min­i­mum pro­vi­sion­ing re­quire­ment by the Bank of Thai­land, rep­re­sent­ing a ra­tio of loan loss pro­vi­sion against the re­quire­ment of 225.07 per cent, hence en­abling the bank to main­tain a strong fi­nan­cial sta­tus.

In ad­di­tion, Exim Thai­land has served as an ex­port credit in­sur­ance agency to en­hance ex­porters' con­fi­dence and com­pet­i­tive ad­van­tage in their busi­ness ex­pan­sion to new fron­tiers with­out con­cerns about for­eign buy­ers' non-pay­ment. In the first nine months of 2017, the bank recorded Bt50.89 bil­lion in ex­port and in­vest­ment in­sur­ance busi­ness turnover, of which Bt8.8 bil­lion came from SMEs' ex­ports, rep­re­sent­ing 17.30 per cent of the bank's ac­cu­mu­lated in­sur­ance busi­ness turnover. Out­stand­ing ex­port and in­vest­ment in­sur­ance as of the end of Septem­ber was Bt20.47 bil­lion.

As for sup­port of Thai en­trepreneurs' in­ter­na­tional trade and in­vest­ment, Exim Thai­land has a to­tal ac­cu­mu­lated loan ap­proval amount of Bt67.07 bil­lion, with out­stand­ing loans ac­count­ing for Bt35.55 bil­lion at the end of Septem­ber. The bank has con­sis­tently pro­moted Thai trade and in­vest­ment ex­pan­sion to emerg­ing mar­kets such as the CLMV coun­tries: Cam­bo­dia, Laos, Myan­mar and Viet­nam. In June, it opened a rep­re­sen­ta­tive of­fice in Yangon and plans to open more in Laos and Cam­bo­dia.

“Exim Thai­land has been work­ing closely with both the pub­lic and pri­vate sec­tors. We aim to as­sist Thai ex­porters so that they can com­pete well in the world mar­ket and ex­pand their busi­nesses more be­yond Thai­land amid the ex­ist­ing am­ple busi­ness op­por­tu­ni­ties, es­pe­cially in CLMV where there is high pur­chas­ing power and de­mand for Thai goods in the con­text of so­cial and cul­tural fa­mil­iar­ity be­tween Thai­land and those coun­tries,” Pisit said.

“This will help drive not only Thai­land's but also the re­gion's ex­port and eco­nomic growth.”

THE BANK HAS CON­SIS­TENTLY PRO­MOTED THAI TRADE AND IN­VEST­MENT EX­PAN­SION TO EMERG­ING MAR­KETS SUCH AS THE CLMV COUN­TRIES: CAM­BO­DIA, LAOS, MYAN­MAR AND VIET­NAM. IN JUNE, IT OPENED A REP­RE­SEN­TA­TIVE OF­FICE IN YANGON AND PLANS TO OPEN MORE IN LAOS AND CAM­BO­DIA.

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