Exim Bank

Editorial Team

EXIM Bank’s profit 1.5 bn in 2022

EXIM Thailand announced a 2022 performance with leapfrog growth and over 1.5 billion baht profit for two straight years.

Dr. Rak Vorrakitpokatorn, president of Export-Import Bank of Thailand (EXIM Thailand), announced EXIM Thailand’s operating results with double-digit growth was recorded in the Bank’s 2022 business operation in various dimensions.

Dr. Rak Vorrakitpokatorn, president of Export-Import Bank of Thailand (EXIM Thailand)

EXIM Thailand has proactively supported Thai entrepreneurs with full-fledged financial and non-financial products and services to enhance their potential for expansion of trade and investment both at home and overseas in a secured and sustainable manner.

Total outstanding loans of 168.33 billion baht, a year-on-year growth of 15.55 billion baht or 10.18%, which was a double-digit growth for 2 consecutive years and the highest since the bank’s establishment in 1994, as well as twofold higher than the industry average.

New loan approvals of 94.40 billion baht, a double-digit year-on-year growth of 19.21% in overall and 17.91% for SMEs.

Outstanding loans to support sustainability amounting to 47.62 billion baht, a 21.83% year-on-year growth, representing almost 30% of total outstanding loans and a double-digit growth for 2 straight years.

Accumulated insurance business turnover amounting to 169.33 billion baht, a 10.34% year-on-year growth, which was a double-digit growth for 2 straight years and the highest since the Bank’s establishment, the same as the lending side.

Number of loan and insurance customers recorded at 6,102, a 24.00% increase from the previous year, which was a double-digit increase for 2 straight years and more than twice higher than the target set forth. As of the end of 2022, EXIM provided financial and non-financial assistances to over 21,000 entrepreneurs, involving over 90 billion baht.

NPL ratio of only 2.90%, which was below the target and lower than large commercial banks’ average for 2 straight years, and allowance for expected credit loss amounting to 12,821 million baht, which was a strong level and constituted an NPL coverage ratio of 262.99%.

With high determination to further business expansion, EXIM Thailand posted an operating profit of 2.73 billion baht, a year-on-year growth of 14.51% which was a double-digit growth for 2 years in a row, and a net profit of 1.5 billion baht, a level above 1.5 billion baht for 2 straight years despite the bank’s scheme to relieve customers’ interest burden by keeping its prime rate unchanged for more than 6 consecutive months until the end of January 2023.

He said the global economy in 2023 is clearly on a slowing trend. According to the World Bank and the Economist Intelligence Unit (EIU), global economy in 2023 is predicted to expand below 2%, the lowest in 30 years, amid the prevailing high inflation and upward trend of interest rates.

This could affect Thai export which is expected to grow up to only 2% or a decelerating rate of more than twofold of that in the foregoing year in the face of economic slowdown of trade counterpart countries, particularly the US and Europe, declining prices of export goods and considerable fluctuations of Thai baht.

The bank aims to promote penetration of trade and investment in markets with high potential and upgrade Thai products and services to meet international standards by focusing on the policy to drive bio-circular-green (BCG) economy.

Priority is given to taking good care of the employees by providing them with flexible welfare packages to serve individual needs, boosting knowledge and skills, future skills in particular and environmental awareness and supports the goal of carbon neutral organization by 2030.