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Export-Import Bank of the United States

Export-Import Bank earned a profit of $432 million for taxpayers last year despite shutdown

Export-Import Bank earned a profit of $432 million for taxpayers last year despite shutdown

The federal Export-Import Bank, which helps U.S. companies sell their products abroad, said Thursday it earned a profit of $432 million for taxpayers last year despite a lengthy shutdown after congressional critics allowed its authorization to lapse.

The bank is funded by interest and fees on the loans it makes to foreign buyers of U.S. goods and other aid it gives to exporters.

Last year, the bank provided $12.4 billion in assistance to finance about $17 billion in exports, it said in its annual report.

The assistance was down from $20.5 billion the previous year. And profit was down as well, from $675 million.

But a key reason for both declines was that the...

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