Export-Import Bank of India reported a 15.6 per cent increase in net profit at Rs 675 crore in the year ended March 31, 2012, against Rs 584 crore in the corresponding year-ago period.

In FY12, the loan portfolio of the development financial institution (DFI) increased by 18 per cent (or by Rs 8,489 crore) to Rs 54,530 crore.

Overseas investment assistance was approved to 54 corporates aggregating Rs 4,178 crore for part-financing their overseas investments in 23 countries during the year.

Last year, the DFI extended overseas investment assistance to 64 corporates aggregating Rs 8,325 crore for part-financing their projects in 28 countries.

The bank extended lines of credit aggregating $1.499 billion ($2.378 billion in FY11) to support export of projects, goods and services from India.

Steady growth

According to Mr T.C.A. Ranganathan, Chairman and Managing Director, Exim Bank, the bank will maintain a steady 18 per cent growth in its loan portfolio. The thrust will be on financing micro, small and medium enterprises in various clusters across the country.

Mr David Rasquinha, Executive Director, Exim Bank, said this year the bank will be borrowing almost the same quantum of funds as it did last year. It borrowed Rs 27,630 crore in FY12 — Rs 14,297 crore in rupee debt and foreign currency borrowing equivalent to Rs 13,333 crore.

In FY12, the bank tapped the Japanese retail bond market by issuing ‘Uridashi bonds'. It raised $124 million equivalent.

Referring to borrowing programme in the current fiscal, Mr Ranganathan said the bank will borrow around $3-4 billion in foreign currency and the similar amount in the domestic currency.

The bank raised borrowings of varying maturities aggregating Rs 27,630 crore in FY-12, out of which foreign currency loans stood at Rs 13,333 crore.

“I don’t think cost of borrowing is going to be higher after yesterday’s S&P rating update. Also, it is too premature to gauge an impact due to such development at this point of time,” he said.

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