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  Business   Companies  08 Jul 2017  Exim Bank net plummets 87 per cent to Rs 41 crore in FY17

Exim Bank net plummets 87 per cent to Rs 41 crore in FY17

PTI
Published : Jul 8, 2017, 12:26 pm IST
Updated : Jul 8, 2017, 12:26 pm IST

Export finance institution's transfer of profit to the govt also declined to a trickle at Rs 4 cr in fiscal 2017.

 Bank raised Rs 21,604 crore as rupee borrowing and Rs 18,800 crore as forex borrowing in the year. (Photo: PTI/Representational)
  Bank raised Rs 21,604 crore as rupee borrowing and Rs 18,800 crore as forex borrowing in the year. (Photo: PTI/Representational)

Mumbai: The Export Import Bank (Exim Bank) has reported a massive 87 per cent fall in net profit at Rs 41 crore in fiscal 2017. The bank had reported a post-tax profit of Rs 316 crore in the year to March 2016 and Rs 710 crore in fiscal 2015.

The bank did not offer any reason for the steep fall in net income. The export finance institution's transfer of profit to the government also declined to a trickle at Rs 4 crore in fiscal 2017 from Rs 32 crore in 2015-16 and Rs 433 crore in 2014-15, according to a note on its official website.

In the reporting year, Exim Bank's total loan assets stood at Rs 1,02,641 crore while non-funded portfolio stood at Rs 12,231 crore. It received Rs 500 crore as capital from the government in 2016-17.

The bank raised Rs 21,604 crore as rupee borrowing and Rs 18,800 crore as forex  borrowing in the year. It extended 15 lines of credit amounting to USD 2.27 billion to various countries in the year.  

Tags: exim banks, loan assets, revenue, profit, debts
Location: India, Maharashtra, Mumbai (Bombay)