Exim Bank to grow asset size

KUALA LUMPUR: Export-Import Bank of Malaysia Bhd (Exim Bank) targets to grow its asset size against gross domestic product (GDP) to at least three per cent by 2018

Source from (Business Times): http://www.btimes.com.my/Current_News/BTIMES/articles/exims/Article/
Published: Jun 06, 2013

On a year-on-year basis, its asset size expanded by 16 per cent to RM7.3 billion last year, which is equivalent to one per cent of GDP.

Exim Bank is a government-owned development financial institution providing credit facilities to support exports and imports of goods, services and overseas projects.

"We are benchmarking ourselves against peers, such as the Exim banks of South Korea and China.

"Their total assets to GDP are three per cent and we are just at one per cent.

"We want our total asset size to be at least three per cent of GDP by 2018," said Exim Bank chief executive Datuk Adissadikin Ali in a press briefing on its financial year 2012 performance last Friday.

In order to achieve the target within the stipulated time frame, Exim Bank has to sustain a 30 per cent loan growth momentum annually.

Since the bank revised its business model in 2011, there has been a significant improvement in its financial performance.

Exim Bank's net loans and financing grew by 62 per cent to RM3.15 billion last year, compared with RM1.9 billion in 2011.

The construction sector constituted the largest chunk with a total disbursement of RM1.13 billion, followed by manufacturing and mining sectors.

It is targeting a total loan disbursements of RM5 billion this year.