Exim Thailand’s profit tops Bt1 bn for 9 months
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.