MUMBAI, 11 MAY, 2022 (GPN): Export Import Bank of India (EXIM Bank) on Thursday reported a nearly three-fold jump in its profit after tax (PAT) to Rs 738 crore in the fiscal ended in March 2022 compared to Rs 254 crore in the year-ago period.

The development finance institution sanctioned loans aggregating to Rs 68,863 crore under various lending programmes during FY2022.

Its net loan portfolio registered a growth of 13.26 per cent to Rs 1,17,619 crore from Rs 1,03,851 crore last year

In the current financial year (fiscal 2023), the bank is targeting a 12 per cent growth in loan, its Managing Director Harsha Bangari told GPN.

Non-fund portfolio rose by 7.15 per cent to Rs 15,247 crore from Rs 14,229 crore in FY2021.

Its total business grew by 5.69 per cent to Rs 2,51,246 crore as against Rs 2,37,714 crore in FY21.

Bangari said the bank was able to halve its gross non-performing assets (NPAs) to 3.56 per cent in the fiscal ended March 31, 2022. Its slippage ratio reduced by 128 basis points to 0.24 per cent in FY22 from 1.52 per cent in FY21.

Provision coverage ratio (PCR) stood at 100 per cent as against 96.74 per cent in FY21.

The export credit agency raised foreign currency resources aggregating USD 2.05 billion equivalents, through a variety of instruments and rupee resources amounting to Rs 19,046 crore, in FY2021-22.

It is looking to raise between USD 2 billion and USD 3 billion of overseas borrowing in 2023 fiscal.
Of this, USD 1.5-2 billion will be raised through overseas bonds,Bangari said.

In FY22, the government infused Rs 750 crore capital into Exim Bank. A capital infusion of Rs 1,500 crore for FY 2022-23 has been announced by the government in Budget 2022.

During FY2021-22, the bank, on behalf of the government of India, sanctioned six Lines of Credit (LOC), aggregating USD 1.13 billion, to support the export of projects,goods, and services from India.

It has a portfolio of 310 government-LOCs with credit commitments aggregating USD 31.96 billion,which are at various stages of implementation.

In FY2022, the bank supported 75 project export contracts valued at Rs 19,380.34crore under its commercial portfolio, in 39 countries.

As of March 31, 2022, it provided aggregate overseas investment finance of Rs 63,877.51crore to 652 joint ventures / wholly-owned subsidiaries, set up by 483 Indiancompanies in 78 countries.

Under the Bank’s newly launched Ubharte Sitaare programme, credit facilities of around Rs 306.32 crore were extended to 15 companies in sectors including aerospace, auto, pharmaceuticals, engineering and consumer durables.

The Department of Commerce, Ministry of Commerce & Industry, Government of India is engaging with Exim Bank to conduct an impact assessment of Free Trade Agreements for the EU and Canada. The Bank has also partnered with the Government of Andhra Pradesh for preparing an export strategy paper for the state.
Exim Bank conducted 19 seminars/workshops for exporters, with themes such as export capability creation, business opportunities, industry, country & region focus, and export potential of Indian states.
Exim Bank, under its grassroots initiatives, has been supporting and assisting rural artisans, craftsmen and farmers to widen their domestic as well as international presence by organizing design, skill-building and training workshops. Some of these programmes organised during the year were for weavers of Banarasi Silk in Varanasi and Waril artisans of Maharashtra. The Bank has identified 12 products from 11 districts under the Government of India’s One District One Product initiative and is engaging with stakeholders to provide relevant interventions.

SOCIAL INITIATIVES

During FY 2021-22, 12 projects / programmes in seven states and one UT were sanctioned in the areas of education & skill development, environment, healthcare & sanitation, and livelihood activities. Some of the notable projects implemented during the year include upgrading facilities in hospitals in Assam, Jharkhand, Maharashtra and Rajasthan; education infrastructure development in 20 schools in Solapur (Maharashtra); sponsoring underprivileged women weavers in Mizoram for skill development; and construction of all-weather toilets and renovation of training centres in Ladakh for the local weaver community. Exim Bank has identified two villages in Maharashtra for an overall improvement of health and education infrastructure, and livelihood and skill development, under its ‘Dream Village’ initiative.Ends
For more information, please contact: Ms. Deepali Agrawal, Chief General Manager, Export-Import Bank of India, Centre One Building, Floor 21, World Trade Centre Complex, Cuffe Parade, Mumbai 400005; Phone +91-22-22172700; E-mail: [email protected].