{"id":2480,"date":"2020-06-26T06:46:05","date_gmt":"2020-06-26T06:46:05","guid":{"rendered":"https:\/\/bengalnewstimes.com\/?p=2480"},"modified":"2020-06-26T06:46:05","modified_gmt":"2020-06-26T06:46:05","slug":"exim-bank-to-raise-up-to-2-billion-in-fy21","status":"publish","type":"post","link":"https:\/\/bengalnewstimes.com\/?p=2480","title":{"rendered":"Exim Bank to raise up to $2 billion in FY21"},"content":{"rendered":"<p><\/p>\n<div>\n<div class=\"article-image\">\n<figure><img loading=\"lazy\" decoding=\"async\" class=\"lazy lazy-hidden size-full wp-image-2004311\" data-lazy-type=\"image\" src=\"https:\/\/images.financialexpress.com\/2020\/06\/1-643.jpg\" alt=\"Exim Bank managing director David Rasquinha said that the institution had raised $1 billion in January.\" width=\"660\" height=\"440\" srcset=\"\" sizes=\"auto, (max-width: 660px) 100vw, 660px\"\/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"lazy lazy-hidden size-full wp-image-2004311\" data-lazy-type=\"image\" src=\"https:\/\/images.financialexpress.com\/2020\/06\/1-643.jpg\" alt=\"Exim Bank managing director David Rasquinha said that the institution had raised $1 billion in January.\" width=\"660\" height=\"440\" srcset=\"\" sizes=\"auto, (max-width: 660px) 100vw, 660px\"\/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-2004311\" src=\"https:\/\/images.financialexpress.com\/2020\/06\/1-643.jpg\" alt=\"Exim Bank managing director David Rasquinha said that the institution had raised $1 billion in January.\" width=\"660\" height=\"440\" srcset=\"https:\/\/images.financialexpress.com\/2020\/06\/1-643.jpg 660w, https:\/\/images.financialexpress.com\/2020\/06\/1-643-300x200.jpg 300w, https:\/\/images.financialexpress.com\/2020\/06\/1-643-620x413.jpg 620w, https:\/\/images.financialexpress.com\/2020\/06\/1-643-401x267.jpg 401w, https:\/\/images.financialexpress.com\/2020\/06\/1-643-440x293.jpg 440w, https:\/\/images.financialexpress.com\/2020\/06\/1-643-80x54.jpg 80w, https:\/\/images.financialexpress.com\/2020\/06\/1-643-313x209.jpg 313w\" sizes=\"auto, (max-width: 660px) 100vw, 660px\"\/><\/noscript><\/noscript><span class=\"article-caption\">Exim Bank managing director David Rasquinha said that the institution had raised $1 billion in January.<\/span><\/figure>\n<\/div>\n<p>India\u2019s Export Import (Exim) Bank will look to raise up to $2 billion in the current financial year, subject to business conditions and the spread of the Covid pandemic, the lender\u2019s top executive said on Thursday. The organisation reported a 51% year-on-year (y-o-y) rise in net profit for FY20 to Rs 124 crore.<\/p>\n<p>Exim Bank managing director David Rasquinha said that the institution had raised $1 billion in January. \u201cWe do have debt-servicing requirements in the current year, of course. We\u2019ve already cleared a debt-servicing requirement of $500 million in April; we have another $500 million coming up in August, for which we\u2019ve already kept the liquidity ready. So I would say we would be looking at maybe coming back to the international markets towards the end of the calendar year and hopefully, we\u2019ll be looking at raising $1-2 billion,\u201d he said.<\/p>\n<p>Exim Bank\u2019s loan portfolio rose 6.23% y-o-y to Rs 99,446 crore in FY20 and its non-funded portfolio expanded 12.59% to Rs 15,869 crore. Its capital to risk assets ratio improved 106 basis points (bps) to 20.13%. Net non-performing asset (NPA) ratio fell 67 bps to 1.77%.<\/p>\n<p>During FY20, Exim Bank extended 27 lines of credit (LOCs), aggregating $3.4 billion, to support export of projects, goods and services from India. It has built up a portfolio of 259 GOI-LOCs with credit commitments aggregating $5.46 billion, which are at various stages of implementation. The institution supported 38 project export contracts valued at $2.81 billion under its commercial window. An amount of $31.58 million was disbursed during the year under the sanctioned facilities, and the outstanding buyers\u2019 credit under National Export Insurance Account (BC-NEIA) portfolio stood at $1.35 billion as on March 31, 2020.<\/p>\n<p>During FY20, Exim Bank sanctioned funded and non-funded assistance for 16 corporates aggregating Rs 2,837 crore for part financing their overseas investments in eight countries.<\/p>\n<div class=\"common-bottom-text\">\n<p>Get live <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/\" target=\"_blank\" rel=\"noopener noreferrer\">Stock Prices<\/a> from <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/s-p-bse-sensex-stock-price\/\" target=\"_blank\" rel=\"noopener noreferrer\">BSE<\/a>, <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/nifty-50-stock-price\/\" target=\"_blank\" rel=\"noopener noreferrer\">NSE<\/a>, <a href=\"https:\/\/www.financialexpress.com\/investing-abroad\/\" target=\"_blank\" rel=\"noopener noreferrer\">US Market<\/a> and latest NAV, portfolio of <a href=\"https:\/\/www.financialexpress.com\/mutual-funds-india\/\" target=\"_blank\" rel=\"noopener noreferrer\">Mutual Funds<\/a>, calculate your tax by <a href=\"https:\/\/www.financialexpress.com\/income-tax-calculator\/\" target=\"_blank\" rel=\"noopener noreferrer\">Income Tax Calculator<\/a>, know market\u2019s <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/nse-top-gainers\/\" target=\"_blank\" rel=\"noopener noreferrer\">Top Gainers<\/a>, <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/nse-top-losers\/\" target=\"_blank\" rel=\"noopener noreferrer\">Top Losers<\/a> &amp; <a href=\"https:\/\/www.financialexpress.com\/mutual-funds-india\/equity-funds\/\" target=\"_blank\" rel=\"noopener noreferrer\">Best Equity Funds<\/a>. Like us on <a href=\"https:\/\/www.facebook.com\/thefinancialexpress\" target=\"_blank\" rel=\"noopener noreferrer\">Facebook<\/a> and follow us on <a href=\"https:\/\/twitter.com\/FinancialXpress\" target=\"_blank\" rel=\"noopener noreferrer\">Twitter<\/a>.<\/p>\n<p class=\"telegram-text\"><img loading=\"lazy\" decoding=\"async\" class=\"telegrma_img\" src=\"https:\/\/images.financialexpress.com\/2020\/04\/telegram.png\" width=\"24\" height=\"24\" style=\"margin: 0px 5px 4px 0px; float: left;\"\/>Financial Express is now on Telegram. <a href=\"https:\/\/t.me\/TheFinancialExpressOnline\" target=\"_blank\" rel=\"noopener noreferrer\">Click here to join our channel<\/a> and stay updated with the latest Biz news and updates.<\/p>\n<\/div>\n<\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\\\"https:\/\/www.financialexpress.com\/industry\/banking-finance\/exim-bank-to-raise-up-to-2-billion-in-fy21\/2004308\/\\\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Exim Bank managing director David Rasquinha said that the institution had raised $1 billion in January. India\u2019s Export Import (Exim) Bank will look to raise up to $2 billion in the current financial year, subject to business conditions and the spread of the Covid pandemic, the lender\u2019s top executive said [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":2481,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[36],"tags":[],"class_list":["post-2480","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking-business"],"jetpack_featured_media_url":"https:\/\/bengalnewstimes.com\/wp-content\/uploads\/2020\/06\/1-643.jpg","_links":{"self":[{"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/posts\/2480","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2480"}],"version-history":[{"count":0,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/posts\/2480\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/media\/2481"}],"wp:attachment":[{"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2480"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2480"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2480"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}