Exim Bank Exceeds 2016 Target In Disbursing Loans Of US$2.39 Bln To Date

KUALA LUMPUR, Oct 25 (Bernama) -- The Export-Import Bank of Malaysia Bhd (Exim Bank)has disbursed loans of about US$2.39 billion (RM10 billion) year-to-date, exceeding its target of RM7.5 billion for 2016, said President/Chief Executive Officer, Norzilah Mohamed. She said the bank aims to grow its loan portfolio by between 10-15 per cent this year, lower than the 30 per cent achieved in 2015, due to the unfavourable external environment. She added that EXIM Bank's target is however, significant, when compared to the loan growth performance of other commercial banks at about six per cent. "Every year, we review our strategic direction and based on the softening market globally, we believe 15 per cent is moderate and achievable. "We really have to be more selective in terms of (who) we support overseas and those who can sustain their business," she told reporters after delivering the welcoming remarks at the 33rd Asian Exim Banks Forum Training Programme here Tuesday. Norzilah said for next year, the projected loan growth is also in line with the 2017 Budget unveiled by Prime Minister Datuk Seri Najib Tun Razak last Friday. In the budget, the government allocated RM200 million in loan financing insurance credit facilities with coverage of up to RM1 billion for small and medium enterprises (SMEs) through EXIM Bank. "I think there will be a good demand (for loans) as a focus for next year is for SMEs to boost their capacity to go abroad," Norzilah added. On non-performing loans, she said the bank would try to keep it at below 10 per cent in 2017. (US$1 = RM4.17) -- BERNAMA