Eximbank signs agreements to expand export capacities of SMEs

MNB

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.

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