ID :
192227
Fri, 07/01/2011 - 09:54
Auther :
Shortlink :
https://oananews.org//node/192227
The shortlink copeid
Eximbank aims to increase long-term, green biz loans
(ATTN: UPDATES chairman's remarks in para 2; ADDS para 3)
SEOUL, July 1 (Yonhap) -- The Export-Import Bank of Korea (Eximbank) said Friday it plans to boost long-term and green industry loans over the next decade as part of its efforts to strengthen its footing as a global policy lender.
"Eximbank aims to increase the size of its lending to 150 trillion won (US$141 billion) by 2020, as demand for public trade financing is on the rise," Eximbank Chairman Kim Yong-hwan told reporters at a press conference.
Kim said Eximbank will strive to become a front-runner in trade financing and also bolster its investment banking function by expanding financial advisory and merger and acquisitions services.
The move comes as the policy lender hopes to capitalize on the rapidly growing global project financing market. The market size for plant and infrastructure developments between 2011-2030 is forecast to reach $40 trillion, according to Eximbank.
Under the envisioned plan, Eximbank plans to increase the percentage of mid- and long-term loans to 71 percent in 2020, up from the current level of 45 percent.
The state-run lender also aims to boost loans on green business and resource development projects by nearly five-fold from the current 11 percent level, it said.
Meanwhile, Eximbank said it will continue to push the ceiling of its equity capital higher in a bid to support more overseas projects, adding that it plans to nearly double the current limit to 15 trillion won.
Under the current law governing the trade bank, Eximbank is allowed to raise its capital up to 8 trillion won. A law revision is required to increase the ceiling.
As of the end of March, the bank's equity capital stood at 6.9 trillion won. In April, the financial regulator approved a plan to increase Eximbank's capital by 1 trillion won.
SEOUL, July 1 (Yonhap) -- The Export-Import Bank of Korea (Eximbank) said Friday it plans to boost long-term and green industry loans over the next decade as part of its efforts to strengthen its footing as a global policy lender.
"Eximbank aims to increase the size of its lending to 150 trillion won (US$141 billion) by 2020, as demand for public trade financing is on the rise," Eximbank Chairman Kim Yong-hwan told reporters at a press conference.
Kim said Eximbank will strive to become a front-runner in trade financing and also bolster its investment banking function by expanding financial advisory and merger and acquisitions services.
The move comes as the policy lender hopes to capitalize on the rapidly growing global project financing market. The market size for plant and infrastructure developments between 2011-2030 is forecast to reach $40 trillion, according to Eximbank.
Under the envisioned plan, Eximbank plans to increase the percentage of mid- and long-term loans to 71 percent in 2020, up from the current level of 45 percent.
The state-run lender also aims to boost loans on green business and resource development projects by nearly five-fold from the current 11 percent level, it said.
Meanwhile, Eximbank said it will continue to push the ceiling of its equity capital higher in a bid to support more overseas projects, adding that it plans to nearly double the current limit to 15 trillion won.
Under the current law governing the trade bank, Eximbank is allowed to raise its capital up to 8 trillion won. A law revision is required to increase the ceiling.
As of the end of March, the bank's equity capital stood at 6.9 trillion won. In April, the financial regulator approved a plan to increase Eximbank's capital by 1 trillion won.
