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UK Export Finance 2014/15 Annual Report PDF Print E-mail
Friday, 19 June 2015

UK Export Finance – the UK’s official Export Credit Agency (ECA) – issued its Annual Report and Accounts on 18th June 2015.  The results provide further encouraging evidence that UKEF now has the product suite and reach to more effectively complement export support offered by the private market.

Key points of note:

•    £2.73bn of exports supported (£2.27bn in 2013-14)
•    593 facilities issued, 160 exporters directly supported with a focus on SMEs (129);
•    Proportionately less support to the commercial aerospace sector, reflecting the strong appetite in the commercial banking market for aircraft financings
•    £1.6bn support for the civil sector (£1.3bn in 2013-14) shows an improving diversification of UKEF’s book
•    Premium income £104m (£120m in 2013-14), claims paid £6m (£13m in 2013-14); UKEF remains a net contributor to HM Treasury - c.£1bn cash returned to HM Treasury from net operating income over the last 5 years
•     UKEF now offers 9 out of 10 of the key ECA products
•    The work of the 24 UKEF regional advisers in raising awareness of UKEF support is further enhanced by their ability to direct potential exporters to the private sector as evidenced by 68 exporters (worth £99m) assisted by UKEF engagement  

British Exporters Association (BExA) Chairman, Jon Coleman, commented: "UKEF’s 2014-2015 Annual Report and Accounts illustrates the importance of a vibrant ECA to the UK’s exporters.  The improvements to UKEF’s product range over the last 5 years, championed by BExA, have resulted in the number of exporters benefitting from UKEF support rising from fewer than 20 in 2011-12 to 160 in 2014-15. 

"The implementation of the wider powers in the Small Business, Enterprise and Employment Act during the coming year should further enhance UKEF’s ability to provide supply chain finance and address the evolving nature of global trade.  UKEF remains a key Government department in the context of the National Export Challenge and the recently announced Export Task Force.’

BExA’s 6th ECGD Benchmarking Paper will be released later this year comparing the performance of UKEF against other OECD ECAs.

(Source - BExA Press Release)  

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