Eximbank signs agreements to expand export capacities of SMEs
Hungaryʼs state-owned Eximbank yesterday signed agreements with 15 commercial banks to help expand export capacities of SMEs and large companies with foreign currency funding of about HUF 142 bln in the next 12 months, Hungarian news agency MTI reported.
The limit can be increased based on demand from the credit institutions. Under the agreement, the participating credit institutions will renew their preferential refinancing contracts with maturities longer than two years with Eximbank.
The agreement was signed by state secretary of the Foreign Ministry László Szabó, Eximbank CEO László Urbán and representatives of Budapest Bank, CIB Bank, Commerzbank, Erste Bank, FHB Bank, Gránit Bank, KDB Bank Europa, K&H Bank, MKB Bank, MNB, Oberbank AGʼs Hungarian branch, OTP Bank, Raiffeisen Bank, Takarékbank and UniCredit Bank Hungary. Urbán said Eximbank had disbursed new loans amounting to HUF 139 bln by the end of June of this year and plans to have new placements of HUF 327 bln in 2015.
The volume of loans is expected to reach HUF 774 bln by the end of this year. The volume of refinancing is expected to exceed HUF 500 bln this year, including HUF 400 bln of prefinancing loans with maturities longer than two years.
Hungary Gasoline Prices 3% Over Regional Avg
Hungary to Address Future of Cohesion Policy During EU Presi...
Cordia’s Marina City Project Begins
Budapest Airport Wins 'Best Airport in Eastern Europe' for 1...
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
