EX-IM BANK ANNOUNCES TOP LENDERS FOR FY2003
WASHINGTON, D.C. - The Export-Import Bank of the United States (Ex-Im Bank) today announced its top lenders for fiscal year 2003, ranked by the amount authorized by Ex-Im Bank for loan guarantees, working capital loan guarantees, export credit insurance, and direct loans. The Ex-Im Bank-supported financing facilitates U.S. exports, creating and sustaining U.S. jobs.
The 10 most active banks overall were: Citigroup Inc., USA; Barclays PLC, UK; BNP Paribas (formerly Banque Nationale de Paris, France); Societe Generale, France; ABN Amro Holding NV, Netherlands; Royal Bank of Scotland, UK; JP Morgan Chase & Co., USA; The Toronto-Dominion Bank, Canada; ING Group, Netherlands; and Imperial Bank Limited, South Africa.
Citigroup and Barclays retained their first and second rankings on the FY 2001 list. (An Ex-Im Bank top lenders list was not issued in FY 2002 during implementation of a new data base system.)BNP Paribasclimbed from 25th place. Toronto-Dominion Bank moved up from 35th place in 2001 by increasing its transactions with Ex-Im Bank from three to 59.
Silicon Valley Bancshares ranked 13th on the list overall, but led all banks in the number of working capital transactions guaranteed by Ex-Im Bank; Silicon Valley provided 45 Ex-Im Bank guaranteed working capital transactions in FY 2003, compared with 28 in FY 2001. Bank of America Corp., 16th on the overall list, was second in working capital financing with 30 transactions. M&T Bank was the top user of Ex-Im Bank insurance at 56 policies, up from 33 in 2001. M&T also topped the list in terms of number of transactions of all kinds, at 72.
Ex-Im Bank this year marks its 70th year of helping finance the sale of U.S. exports, primarily to emerging markets throughout the world, by providing loan guarantees, export credit insurance, and direct loans. In fiscal year 2003, Ex-Im Bank, an independent federal agency, authorized financing to support $14.3 billion of U.S. exports worldwide. For more information on Ex-Im Bank, and to access the list of Ex-Im Bank customer banks for FY 2003, visit http://www.exim.gov/about/library/reports/index.cfm.