Exim Bank Profit Rises 51% In FY20
Money & Banking
Export-Import Bank of India (Exim Bank) reported a 51 per cent increase in net profit at ₹124 crore in the year ended March 31, 2020, against ₹82 crore in the previous year.
The bank’s loan portfolio, including export finance, term loan to exporters and overseas investment, increased by 6.23 per cent year-on-year (yoy) to ₹99,446 crore as of March-end 2020 from ₹93,617 crore as of March-end 2019.
Exim Bank is a wholly-owned Government of India financial institution that provides financial assistance to exporters and importers.
The non-funded portfolio, comprising financial guarantees, and project-related and other guarantees, increased by 12.59 per cent to ₹15,869 crore as of March-end 2020 from ₹14,096 crore as of March-end 2019.
David Rasquinha, Managing Director, said Exim Bank plans to raise about $2 billion this year to support business growth and repaying maturing foreign currency loans. In January 2020, the bank raised $1 billion for a 10-year tenor at a coupon of 3.25 per cent per annum.
To a question on whether the bank had availed the ₹15,000-crore line of credit extended by the Reserve Bank of India (RBI), Rasquinha emphasised that this facility is backstop for the bank in case it is not able to raise resources overseas. He added that the bank has not tapped this facility so far.
Published on
June 25, 2020
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Export-Import Bank of India (Exim Bank) reported a 51 per cent increase in net profit at ₹124 crore in the year ended March 31, 2020, against ₹82 crore in the previous year.
The bank’s loan portfolio, including export finance, term loan to exporters and overseas investment, increased by 6.23 per cent year-on-year (yoy) to ₹99,446 crore as of March-end 2020 from ₹93,617 crore as of March-end 2019.
Exim Bank is a wholly-owned Government of India financial institution that provides financial assistance to exporters and importers.
The non-funded portfolio, comprising financial guarantees, and project-related and other guarantees, increased by 12.59 per cent to ₹15,869 crore as of March-end 2020 from ₹14,096 crore as of March-end 2019.
David Rasquinha, Managing Director, said Exim Bank plans to raise about $2 billion this year to support business growth and repaying maturing foreign currency loans. In January 2020, the bank raised $1 billion for a 10-year tenor at a coupon of 3.25 per cent per annum.
To a question on whether the bank had availed the ₹15,000-crore line of credit extended by the Reserve Bank of India (RBI), Rasquinha emphasised that this facility is backstop for the bank in case it is not able to raise resources overseas. He added that the bank has not tapped this facility so far.
Published on
A letter from the Editor
Dear Readers,
The coronavirus crisis has changed the world completely in the last few months. All of us have been locked into our homes, economic activity has come to a near standstill.
In these difficult times, we, at BusinessLine, are trying our best to ensure the newspaper reaches your hands every day. You can also access BusinessLine in the e-paper format – just as it appears in print. Our website and apps too, are updated every minute.
But all this comes at a heavy cost. As you are aware, the lockdowns have wiped out almost all our entire revenue stream. That we have managed so far is thanks to your support. I thank all our subscribers – print and digital – for your support.
I appeal to all our readers to help us navigate these challenging times and help sustain one of the truly independent and credible voices in the world of Indian journalism. You can help us by subscribing to our digital or e-paper editions. We offer several affordable subscription plans for our website, which includes Portfolio, our investment advisory section.
Our subscriptions start as low as Rs 199/- per month. A yearly package costs just Rs. 999 – a mere Rs 2.75 per day, less than a third the price of a cup of roadside chai..
A little help from you can make a huge difference to the cause of quality journalism!
Support Quality Journalism
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