Institution details
EXIM Hungary - Hungarian Export-Import Bank (Hungary Eximbank)
Key facts
- Established in 1994
- Ownership: Public
Part of the OECD
Part of the Berne Union
- Nagymezö utca 46-48
- +361 374 9200
- https://www.exim.hu
Latest update: 03/12/2021
rating type | rating agency | type | rating |
---|---|---|---|
Institution rating | S&P | Foreign currency | BBB |
Country rating | S&P | Local currency | BBB |
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
Performance highlights
What's new?
- In April 2021, Hungary Eximbank opened a representative office in Kazakhstan.
- Certification of Hungarian content is required for all supported transactions
- OECD compliance, and additional environmental and social policies specific to Eximbank
- Adheres to anti-corruption policy
- Data protection policy (in compliance with GDPR)
- Anti-money laundering and anti-terrorist financing policy