Business Year in Review
Private Export Funding Corporation's ("PEFCO") new loan commitments were 5 million in 2017, compared to new loan commitments of 2 million in 2016.
Private Export Funding Corporation's ("PEFCO") new loan commitments were $165 million in 2017, compared to new loan commitments of $292 million in 2016. New commitments in Medium – Term Loan Programs were $98 million in 2017 and $24 million in 2016.
PEFCO’s net loss in 2017 was $3.0 million compared to net loss of $0.6 million in 2016. Net financing income decreased to $5.9 million in 2017 from $7.8 million in 2016. The average balance of financing assets decreased in 2017 by $654 million and the average balance of financing liabilities decreased by $1.2 billion in 2017. The average financing revenue interest rate increased by 0.43% and the average financing expense interest rate increased by 0.55%.
PEFCO did not declare a dividend for the fiscal year ending September 30, 2017. Given the Export-Import Bank of the United States reauthorization and its Board quorum issues in fiscal 2017, PEFCO's Management believes that preservation of capital is in the best interest of PEFCO and its shareowners.
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