Turkish Eximbank General Manager Adnan Yıldırım Güney has announced that they aim to increase export support to $50 billion in 2023.

Ali Güney, the General Manager of Türk Eximbank, has stated that they aim to increase their export support to $50 billion in 2023. The net profit of Türk Eximbank, which was 3.11 billion TL in 2021, increased to 6.23 billion TL in 2022. Güney commented, “As Türk Eximbank, we provided $19.6 billion in cash credit to our exporters in 2022 and created a secure environment for our exporters to make sales by insuring $25.3 billion in deferred receivables, thus providing a total of $45 billion in export support. In 2023, we aim to increase our total support to the level of $50 billion.” Güney also stated that they will continue to sign agreements that allow cooperation in general and third countries in 2023.

Güney further added, “The number of export companies supported by our bank reached 15,440 in 2022. In line with our policy of reaching a wider base, we aim to reach more export-oriented SMEs, and we are pleased that 99% of the 1,744 companies that benefited from our bank’s support for the first time in the last year are SMEs. While the share of SMEs among the exporters benefiting from our bank’s services was 60% in 2017, this rate increased to 81% in 2022.”

-Swap Agreements-

Güney reminded that they performed the first transaction of the Swap Agreement-based Rediscount Credit implemented with the CBRT in December 2022, and said, “We aim to expand the credit in 2023.” Güney said, “The Swap Agreement-based Rediscount Credit is an important product to support trade in local currencies, which is provided based on the swap agreement between the central bank of the relevant country and the Central Bank of the Republic of Turkey, to be used for financing trade activities between the Republic of Turkey and the People’s Republic of China, the Republic of Korea, the United Arab Emirates, and Qatar. We plan to expand the credit to cover other countries in the near future, starting with imports from the People’s Republic of China.”

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