Institution details

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EXIM Hungary - Hungarian Export-Import Bank (Hungary Eximbank)

Key facts

  • Established in 1994
  • Ownership: Public
Part of the OECD Part of the Berne Union

Latest update: 03/12/2021

Products

  • Buyer credit financing
  • Loan guarantee
  • Commercial guarantee
  • Insurance
  • Other products

Buyer credit financing


  • Buyer credit financing for the purchase of goods and/or services of Hungarian origin supplied under a commercial contract concluded between Hungarian exporters and their foreign buyer
  • Facility is typically secured by MEHIB insurance policy
  • Amount: Minimum of EUR 1 million or USD 1 million
  • If a transaction exceeds EUR 20 million, Eximbank typically provides the credit in a co-financing arrangement with the involvement of commercial bank(s)
  • Currency: EUR, USD
  • Tenor:
    - Minimum of 2 years and maximum of 10 years, as allowed by OECD Arrangement
    - A tenor of less than 2 years must be approved on an individual basis
  • Interest rate:
    - Medium- to long-term: Fixed at minimum CIRR
    - Short-term: Floating, based on EURIBOR or USD LIBOR + margin
  • Eximbank will finance 85% of the supply contract value, and requires a minimum 15% down payment
  • Content requirements:
    - Goods and services greater than 50% Hungarian
    - Construction and installation greater than 25% Hungarian
  • Other financial modalities:
    - Interbank buyer credit provides credit to the buyer’s bank, which on-lends proceeds to the buyer
    - Project risk buyer credit
    - Tied aid


Loan guarantee


  • The bank provides partial security for the repayment of loans granted by commercial banks to improve the international competitiveness of companies domiciled in Hungary
  • Cover: Typically, 50% but cannot exceed 80% of the principal amount of the guaranteed loan
  • Currency: HUF, EUR, and USD
  • Amount: Minimum of HUF 50 million, EUR 150 thousand, or USD 150 thousand
  • Expiry: Final maturity of the loan secured with guarantee + 15 days
  • Collateral: Based on individual appraisal, and may include a pledge on current assets, mortgage on property, cash collateral, corporate guarantee, pledge on shares, etc.
  • Risk premium: Determined on a case-by-case basis  


Commercial guarantee


  • The bank offers guarantees for the fulfilment of export transactions to SMEs and large companies with export sales
    - Purpose of facility includes bid (tender) guarantee, advance payment guarantee, performance guarantee, and warranty guarantee
  • Cover: As per export transaction and purpose of guarantee (usually 2%–30%), but cannot exceed 80% of the value of the export contract
  • Currency: EUR and USD
  • Amount: Minimum of EUR 150 thousand or USD 150 thousand
  • Expiry: Determined individually in line with the export transaction
  • Collateral: Based on individual appraisal, and may include a pledge on current assets, mortgage on property, cash collateral, corporate guarantee, pledge on shares, etc.
  • Risk premium: Determined on a case-by-case basis  


Insurance


  • Short-term insurance products:
    - Export receivable insurance
    - Factoring insurance
    - L/C confirmation insurance
  • Medium- to long-term insurance products:
    - Buyer credit insurance
    - Supplier credit insurance
    - Supplier credit discounting insurance
    - Manufacturing risk insurance
    - Investment insurance
    - Tied aid insurance


Other products


  • Export Promotion Credit Program: Assists Hungarian exporters and their suppliers in fulfilling their orders and implementing the necessary developments and investments
    - The financial constructions of the Export Promotion Program can be accessed directly via Eximbank or via Hungarian financial institutions
  • Discounting facilities: Purchases deferred-payment receivables arising from export supply
  • Direct export pre-financing: Provides small, medium, and large corporations with financing for the period prior to the export shipment of goods or services


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