Exim Bank profit jumps 3-fold in FY22

Export Import Bank of India (EXIM Bank) reported a nearly threefold jump in its profit after tax (PAT) to Rs 738 crore in the fiscal ended in March 2022 compared to Rs 254 crore in the year-ago period.

The development finance institution sanctioned loans aggregating to Rs 68,863 crore under various lending programmes during FY2022.

Its net loan portfolio registered a growth of 13.26 per cent to Rs 1,17,619 crore from Rs 1,03,851 crore last year.

In the current financial year (fiscal 2023), the bank is targeting a 12 percent growth in loan, its Managing Director Harsha Bangari told.

Non-fund portfolio rose by 7.15 per cent to Rs 15,247 crore from Rs 14,229 crore in FY2021.

Its total business grew by 5.69 percent to Rs 2,51,246 crore as against Rs 2,37,714 crore in FY21.

Bangari said the bank was able to halve its gross non-performing assets (NPAs) to 3.56 percent in the fiscal ended March 31, 2022. Its slippage ratio reduced by 128 basis points to 0.24 per cent in FY22 from 1.52 percent in FY21.