Eximbank financing rises to $21.4 billion in first half
About $13.1 billion of the financing support in the first half was provided in the form of cash loans while the remaining $8.3 billion came in the form of insurance.
All the financing support from Turkish Eximbank corresponded to 25.5 percent of the country’s total exports, the bank said in a statement on July 18.
Eximbank aims to provide financing support of $48.4 billion to local exporting companies this year, which will amount to a support of 27 percent of the total exports.
In 2018, Eximbank’s financing support to local firms stood at $44.2 billion, which accounted for 26 percent of Turkey’s exports.
In the new economic program, released in September, the government said it targets to boost export revenues to $182 billion this year and further to $191 billion in 2020.
Eximbank is the eighth largest financial institution in the Turkish banking system in terms of credit size, according to a July presentation on the lender’s website.
It operates a network of 16 domestic branches and 14 liaison offices with a total of 727 employees.
Eximbank’s non-performing loans (NPL)/total loan ratio was 0.3 percent as of the end of May compared with the sector average of 4.2 percent.