Exim Bank Reports 62% Profit, Corporate Loan Book Records 49% YoY Growth

The India Exim Bank sanctioned fresh loans aggregating to Rs 1,06,312 crore this year. The loan portfolio grew by 17 per cent in the financial year 2023-24 (FY24), driven by strong growth in sectors such as clean and renewable energy, automotive, engineering goods, pharmaceuticals and telecommunications.

The Bank also witnessed growth in strategically important sectors mainly e-mobility, high-tech, and aerospace. Net interest income (NII) increased by 4.6 per cent to Rs 3,540 crore for the FY24, primarily on account of higher increase in interest income from loans and advances.

In terms of the Non-Performing Assets (NPAs), with the improvement in asset quality and reduction in incremental slippages, the Gross NPAs declined significantly from 4.09 per cent as on 31 March 2023 to 1.93 per cent as on 31 March 2024 and the Net NPAs declined from 0.71 per cent as on 31 March 2023 to 0.29 per cent as on 31 March 2024.

During FY24, the bank extended Rs 98,014 crore for building export capacities, enhancing export competitiveness and supporting the globalisation efforts of Indian companies. The corporate loan book recorded a growth of 49 per cent during the year while maintaining strong asset quality with nearly 90 per cent of the portfolio above investment grade.

The Bank supported 90 project export contracts valued at Rs 43,695 crore in 34 countries, propelling India’s project exports to new heights. Further, 24 corporates were sanctioned funded and non-funded assistance of more than Rs 6,739 crore for their overseas investments in 12 countries. So far, the Bank has provided finance to 700 JV/WOS, set up by 510 Indian companies in 78 countries.

The Bank’s Trade Assistance Programme (TAP) is bridging the financing gaps in trade transactions by providing an effective bridge between local banks in partner countries and banks in India.
The Bank raised resources aggregating Rs 74,768 crore, including foreign currency resources of USD 3.26 billion equivalent during FY24.

The Bank supported a wide range of developmental projects in partner countries through the Lines of Credit (LOCs) extended at the behest of the Government of India (GOI). As on 31 March 2024, the Bank has a portfolio of 324 GOI-supported LOCs with credit commitments aggregating USD 31 billion.

These LOCs are supporting socio economic development in partner countries while facilitating access to new markets and opportunities for Indian companies. As of 31 March 2024, 952 contracts valued at nearly USD 16 billion have been covered under LOCs, creating opportunities for over 300 Indian companies, and benefitting a multitude of MSMEs in the value chain. During FY 2023-24 alone, the Bank supported 21 new contracts valued at over USD 1 billion.