Exim Hungary | Export Credit Agency (ECA) in Hungary

Export Credit Agency (ECA) in Hungary

Exim Hungary |
Export Credit Agency (ECA) in Hungary
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About Exim Hungary

EXIM Hungary is the official export credit agency of Hungary, the joint entity of two legal persons: the state-owned Hungarian Export-Import Bank Plc. (Eximbank Zrt.) and the Hungarian Export Credit Insurance Plc. (MEHIB Zrt.), operating within an integrated framework which allows them to provide both financing and insurance facilities. EXIM Hungary operates under the direct supervision of the Ministry of Foreign Affairs and Trade.

With its 28-year experience, the Hungarian ECA provides a wide range of financial products and services covering the entire export structure. As an official ECA, EXIM Hungary has already been involved in the export of Hungarian products and services to nearly 150 countries, and currently has relationships in 69 countries. The basic objective of EXIM Hungary is to facilitate the sale of Hungarian goods and services in foreign markets. Their operation is governed by the relevant OECD and European Union regulations. EXIM Hungary is a member of the Berne Union, an international association for the export finance and insurance industry. In 2021 EXIM Hungary hosted the Annual General Meeting of Berne Union, where it was elected by the organisation as a member of its Management Committee. 

EXIM Hungary ended the year of 2021 with a total exposure of more than € 5.4 million and entered a new strategic period in 2022. EXIM aims to support domestic enterprises as a financial engine for their global success to strengthen their foreign market presence and expansion with the help of innovative financial solutions.

EXIM Hungary’s work is driven by its specialised global experience; its strategic objectives include export education, engaging employer, sustainability, value-creating partnership and digitalisation. 

A summary of Exim Hungary

Products and services offered by EXIM Hungary

Financing products:

  • Investment credit – for foreign investments
  • Capital expenditure loan
  • Leasing and investment loan
  • Working capital loan
  • Buyer’s credit
  • Supplier’s credit facilities
  • Forfaiting, short-term purchase of receivables
  • Tied aid

Risk sharing products:

  • Investment insurance
  • Commercial guarantees
  • Manufacturing risk insurance
  • Loan guarantee
  • Export receivables insurance
  • Supplier credit insurance
  • Supplier credit discounting insurance
  • Factoring insurance

History of Exim Hungary

The Hungarian Export-Import Bank was established in 1994 by Act XLII of 1994 on Eximbank with the aim of financing the foreign trade activities of companies operating in Hungary.  In 1996, EXIM Hungary joined the Berne Union as an observer and its Prague Club as a founding member. In 1998 EXIM became a full member of the Berne Union. Since 2012, the Hungarian Export-Import Bank and the Hungarian Export Credit Insurance – which previously operated as separate organisations – have been operating within an integrated framework, under one Board of Directors and common Committees. 

Since 2014 EXIM Hungary has been a member of the European Association of Public Banks (EAPB) and has established close relations with the International Finance Corporation (IFC), and the World Bank Group. In 2021 EXIM hosted the Annual General Meeting of Berne Union, when where it was elected as a member of the Management Committee. 

EXIM Hungary is based in Budapest and operates offices in twelve towns and cities in Hungary, and 4 foreign representative offices in Europe and Asia.

Raw Materials – From tobacco to spices, gold to bronze, commodities represent a large proportion of our trade finance portfolio

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Finished Goods – Our innovative structuring capabilities allow us to put together complex finance structures, even if the end goods are finished

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Metals – From scrap metal to alloys, we help traders and distributors access trade, receivable or PO finance for iron, steel and non-ferrous metals

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Key Stats

Name:

EXIM Hungary

Country:

Hungary, Europe

CEO Information:

Gergely Jákli

Founded:

1994

Employees:

251-500

Government:

Private Limited Company

Company Registration Number:

No. 01-10-042594 by the Metropolitan Court as Companies Registry

Address:

H-1065 Budapest, Nagymező street 46-48.

E-mail Address:

exim@exim.hu

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About the Author

Sheena Magdaraog is responsible for the TFG Weekly Trade Briefings and content at Trade Finance Global.

With an extensive background in WordPress CMS and Digital Marketing, she loves the digitalization of trade and is fascinated about its impact on day to day transactions.

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