EXIM Bank Aims To Raise Total Assets To 3 Per Cent Of GDP By 2018

KUALA LUMPUR, May 31 (Bernama) -- Export-Import Bank of Malaysia Bhd (EXIM Bank) aims to increase its total assets to three per cent of the country's gross domestic product (GDP) by 2018.

Source from (Bernama): http://www.bernama.com/bernama/v7/bu/newsbusiness.php?id=953225
Published: Jun 02, 2013

Source from (The Star Online): http://biz.thestar.com.my/news/story.asp?file=/2013/6/1/business/13185629&sec=business
Published: Jun 02, 2013

Source from (The Sun Daily): http://www.thesundaily.my/news/723649
Published: Jun 02, 2013

Managing Director and Chief Executive Officer Datuk Adissadikin Ali said the bank has made the benchmark in order to achieve the same performance level of the export-import banks in Korea and China.

"This is what we aspire to be, we look at the total asset size against the size of GDP," he said during the financial year 2012 results briefing here today.

"Currently, the company's total assets are less than one per cent of the country's GDP," he added.

He said to achieve this target the bank needs to grow its loan book at least 30 per cent year-on-year.

"Last year, the bank's net loans and financing grew by 62 per cent to RM3.151 billion from RM1.943 billion in 2011, which is double the company's target.

"This year we are targeting to disburse a total of RM5 billion, up from 2012's total disbursement of RM3 billion," he added.

He said EXIM Bank recorded a net non-performing loan (NPL) ratio of about 10 per cent in 2012, and this year the aim is to bring it down to a single digit.

Asked on the Syariah financing segment's contribution to its total loan disbursement, he said the Islamic loan division grew a commendable 14 per cent last year from five per cent in 2011.

"This year, we aim to increase the syariah loan and financing segment's contribution to our total loan disbursement to 20 per cent and 30 per cent within two years," he added.

EXIM Bank posted a higher pre-tax profit of RM169.7 million for the year ended Dec 31, 2012, a 16 per cent increase from RM146.4 million in 2011.

The higher profit was mainly driven by the banking business' improved overall performance, other operating income and Islamic business, with lower allowances on loans.

Adissadikin said the bank's initiatives, which include improvements in vigilance, have started to show positive results.

"The bank is now at its best since 2008," he added.

-- BERNAMA