MUMBAI: Export Import Bank of India (Exim Bank) plans to raise Rs. 24,000 crore in the current fiscal, a top bank official said.
“We plan to borrow Rs. 24,000 crore during this fiscal as against Rs. 20,266 crore raised during the previous fiscal,” Executive Director N. Shankar told reporters here on Friday.
During the last fiscal, the bank raised Rs. 20,266 crore comprising rupee resources of Rs. 13,037 crore and foreign currency resource of $1.61 billion equivalent.
In 2009-10, the bank received Rs. 300 crore from the Government, increasing its paid-up capital to Rs. 1,700 crore.
The Government, in the budget this year, has announced that it would be infusing Rs. 300 crore into Exim Bank during the current fiscal.
“In 2009-10, the Government infused Rs. 300 crore which increased our paid-up capital to Rs. 1,700 crore. We will receive Rs. 300 crore this fiscal also,” Mr. Shankar said.
In the year under review, the bank's net profit jumped by 8 per cent to Rs. 513 crore from Rs. 477 crore in the previous fiscal, he said. During the year, the bank made a net provision of Rs. 259 crore towards income tax as against Rs. 133 crore in the previous year.
Exim Bank's loan assets increased by 14 per cent to Rs. 39,371 crore in 2009-10 from Rs. 34,505 crore in 2008-09, Mr. Shankar said. It approved loans worth Rs. 38,843 crore against Rs. 33,628 crore, he said.
Total disbursements in 2009-10 were Rs. 33,249 crore as compared to Rs. 28,933 crore in the previous year. Net non-performing assets (NPAs) of the bank decreased to 0.20 per cent of net loan assets as on March 31, 2010, as compared to 0.23 per cent in the previous year.
During 2009-, the bank extended 22 lines of credit, aggregating $753.31 million covering 20 countries to support export projects, goods and services in the country.
The Bank supported project contracts amounting to Rs. 13,993 crore. — PTI