EXIM Hungary: Best Cross-Border Financing Bank Hungary 2021

EXIM Hungary was established in 1994 and plays a crucial role in driving the country’s national exports, which account for above 80 percent of GDP. It stands out as a fully licensed bank and an insurer. Part of a global network of 84 export credit agencies, EXIM Hungary is able to finance and insure international trade for customers in 126 countries — with SMEs prominently featured. EXIM Hungary offers direct and indirect cross-border financing and export credit to cover clients’ trade risks, buyer credit, discounting facilities, export credit and foreign investment insurance. The banking and insurance divisions are separate entities working together under one brand, board and executive committee. This organisational structure affords greater flexibility and speed. It is the largest state-owned investor in the country and shares funds with the International Finance Corporation, as well. It has 74 investments in 25 countries and has achieved significant growth over the past five years. The EXIM portfolio totalled $3.5bn in 2016 — and $5.5bn by the end of 2020. When the global pandemic began to cause complications in international trade, the bank focused on domestic financing, offering fixed-interest loans to cover working capital needs. Now it’s moving forward with plans to unlock new export markets for Hungary. The CFI.co judging panel recognises an agile organisation that efficiently collaborates with clients and financial institutions to achieve positive outcomes. EXIM Hungary wins the 2021 award for Best Cross-Border Financing Bank (Hungary).