Exim Bank

EXIM Bank boosts credit to exporters hit by tariffs, eyes Africa expansion

EXIM Bank is also offering more shorter-tenure credit and credit against future receivables to address exporters' immediate working capital needs

Exim Bank withdraws planned 10-yr bond issuance over high yield demands

The bank had planned to raise Rs 2,500 crore through 10 year bonds. The base issue size was Rs 500 crore and the green shoe option was Rs 2,000 crore

EXIM Bank recruitment 2025: Check vacancies, salary, and steps to apply

EXIM Bank issued a recruitment drive for various roles including Management Trainee, Deputy Manager, and Chief Manager. The online application process will be held between March 22 and April 15, 2025

Exim Bank provides input on US reciprocal tariffs impact with govt

Trump had threatened to impose reciprocal tariffs on several countries, including India, Brazil, and China. He also threatened to impose tariffs on Mexico and Canada

Exim Bank to provide $300 mn credit to Vietnam for boats, patrol vessels

The Export Import Bank of India will provide lines of credit totalling USD 300 million to Vietnam for procuring high-speed guard boats and offshore patrol vessels. The Exim Bank had entered into an agreement on July 31, 2024 with the Government of the Socialist Republic of Vietnam (GO-VNM), for making available to the latter, Government of India supported Line of Credit (LoC) of USD 180 million for procurement of four Offshore Patrol Vessels (OPV), the Reserve Bank said. The bank had also entered into an agreement with GO-VNM for making available to the latter, India supported LoC of USD 120 million for procurement of high-speed guard boats, it said in another circular. Both agreements are effective from January 20, 2025 and the last date for disbursement will be 60 months after the scheduled completion date of the project. The export of eligible goods and services from India would be allowed subject to the Foreign Trade Policy.

Aggressive pricing for Exim Bank's $1 bn debt hints at another robust year

Exim sold 10-year dollar-denominated bonds at 5.50 per cent, a spread of 100 basis points above the US Treasury yield and 30 bps below its initial guidance

Exim Bank India raises $1 billion from overseas via 10-year bonds

Exim Bank of India has raised USD 1 billion (about Rs 8,570 crore) from overseas at lowest ever spread to fund business growth, the Department of Financial Services said on Tuesday. "Fantastic start to the year by Indian issuers in global capital markets, with state-owned @IndiaEximBank raising $1 bn 10-year USD-denominated bonds at lowest ever spread (100bps) for USD-denominated public bond by a BBB-rated issuer in Asia," the Department of Financial Services (DFS) said in a post on X This demonstrates the confidence of overseas investors in the India story, it said, adding, this landmark transaction marks a strong start to the year for Indian issuers in the international debt markets, supporting Exim Bank's mandate and contributing to the vision of Viksit Bharat. Exim Bank provides financial assistance to exporters and importers, and functions as the principal financial institution for coordinating the working of institutions engaged in financing export and import of goods and ...

Exim Bank raises $1 bn via 10-year dollar bonds at tightest-ever spreads

Capitalising on strong demand, Exim Bank managed to tighten the final price by 30 basis points from the initial price guidance to achieve pricing of UST10+100 basis points

Merchandise exports estimated to grow at 1.85% in Oct-Dec: Exim Bank

The Export Import Bank of India on Tuesday said it expects India's merchandise exports to grow 1.85 per cent to USD 107.5 billion in the October-December period of 2024. The non-oil exports will grow 7.39 per cent to USD 91.7 billion, estimates released by the policy bank said. Non-oil and non-gems and jewellery exports are forecast to amount USD 82.7 billion, which will be a growth of 7.8 per cent over the last year, it said. "Positive growth in India's exports could be as a result of India's continued strong economic activity backed by sustained momentum in manufacturing and services sector, improving demand prospects in trading partners, supported by expected global monetary easing," it said. There are risks which make any outcome uncertain, including uncertain prospects in select advanced and emerging economies, geoeconomic fragmentation, the Middle East and West Asia crisis, risk of intensification of protectionist policies, and global supply chain disruptions, it said. The b

SBI, Exim Bank helping Africa's businesses by filling trade financing gap

The State Bank of India and the India Exim Bank are helping businesses in African countries to fill the gap in trade finance, the South African heads of the two organisations told the India Entrepreneurs Forum (IEF) here. The event was initiated by Consul General of India Mahesh Kumar who said it is the first of a series of ongoing engagements with the IEF. We did this to assist all companies doing trade or some form of other business with India in their capacity building because generally for bigger businesses they are able to sort out their trade financing needs. For smaller business, a lot of issues look very difficult and insurmountable and they find the complexities of the trade world very bewildering sometimes, Kumar said. CEO of State Bank of India (SBI) Ashutosh Kumar and Shyamashish Acharya, Resident Representative at the Johannesburg Representative office of India Exim Bank, both explained the benefits of using their services in dealing with import and export trade between

India Exim Bank looks for $3.5 bn foreign currency borrowings in Fy25

The bank raised foreign currency resources of $3.26 billion equivalent during the financial year 2024

Exim Bank expects 12.3% growth in exports during Apr-Jun quarter to $116 bn

The Export-Import Bank of India on Thursday said India's merchandise exports would grow by 12.3 per cent year-on-year to USD 116.7 billion in the April-June quarter this fiscal. "These positive growth rates are expected to be witnessed in continuation of the positive growth witnessed during the last two quarters of the previous financial year," India Exim Bank said in a statement. The positive growth in India's exports could be the result of the country's GDP growth fundamentals and outlook, and sustained momentum in the manufacturing and services sector, it added. "Export-Import Bank of India forecasts India's total merchandise exports to amount to USD 116.7 billion, witnessing a y-o-y growth of 12.3 per cent," it said. It added that the growth in exports is expected to continue to witness a positive momentum in the forthcoming quarters. However, it cautioned that the outlook is subject to risks of uncertain prospects for advanced economies, geopolitical shocks, and the Middle Ea

Exim Bank extends $23 mn line of credit to Guyana for aircraft procurement

The Export-Import Bank of India (Exim Bank) on Tuesday announced it has extended a USD 23.37 million (about Rs 194 crore) line of credit to the government of Cooperative Republic of Guyana for the procurement of two aircraft from India for the South American country's defence forces. An agreement was signed on March 15 between Guyana's senior minister in the office of the President with responsibility for finance and the public service, Ashni K Singh, and the policy bank's deputy general manager Sanjay Lamba in the presence of High Commissioner of India to Guyana, Amit Telang. With this line of credit (LOC), the bank has 292 LOC in place now, covering 62 countries in Africa, Asia, Latin America, CIS, and Oceania, with credit commitments of around USD 2.72 billion available for financing exports from India.

Exim Bank looks to raise up to $1 billion in FY24 for commercial lending

The liquidity is comfortable in the international market, and the conditions are better for Indian entities than a few months ago in terms of raising resources, Bangari said

Merchandise exports set to moderate to $435 billion in FY24: Exim Bank

India's merchandise exports are likely to moderate to USD 435.3 billion in FY24 against 447.46 billion in FY23, the Exim Bank said on Wednesday. The merchandise exports are set to grow by nearly 3 per cent to USD 118.2 billion in the March quarter compared to the same period a year ago. It can be noted that the merchandise exports declined for the first two quarters of the ongoing 2023-24. In its quarterly study on the overall exports, the policy bank said the non-oil exports will grow 4.55 per cent to USD 95 billion in the January-March 2024 quarter. "Positive growth in India's exports could be as a result of India's strong GDP growth fundamentals and outlook and expected global easing of monetary tightening spurring global demand," the bank said in the report. The oil exports are likely to remain subdued during the year, contracting by USD 12.5 billion compared to FY23, the bank said. The outlook is subject to risks of uncertain prospects for advanced economies, geopolitical sh

Exim Bank launches Finserve at GIFT City to offer trade finance products

Exim Bank on Tuesday said it has launched subsidiary Exim Finserve at the Gujarat International Financial Tec-City (GIFT City) to offer a comprehensive range of trade finance products to Indian exporters. Exim Finserve will provide a combination of three essential services to exporters: receivables financing, coverage of the risk of non-payment and management of accounts receivable, Exim Bank said in a release. Exim Finserve, or India Exim Finserve IFSC Private Limited, will extend a range of trade finance products to Indian exporters, with a primary focus on export factoring, it said. "This would lead to improved cash flow and reduced payment risk for exporters, enabling them to confidently explore new markets and seize growth opportunities. "The factoring services would be particularly beneficial for MSME exporters as it is primarily based on the quality of accounts receivable, rather than collateral," stated the release. The subsidiary of Exim Bank was announced in the Union Bu

EXIM Bank plans to step up funding to Indian firms eyeing African markets

Amid rising competition from China, Indian Prime Minister Narendra Modi has stepped up efforts to strengthen ties with African nations via aid for infrastructure projects

Exim Bank projects merchandise exports to decrease to $111.7 billion

The Export Import (Exim) Bank India on Monday said the country's merchandise exports are set to fall to USD 111.7 billion for the April-June period amid continuing global volatilities. The country had reported overall merchandise exports at USD 116.7 billion in the year-ago period, as per official data. India's exports could be shadowed by a continued slowdown in select major trade partners including advanced economies, global financial sector stress, high inflationary pressures leading to tighter global monetary and financial conditions, and continued uncertainty around the Russia-Ukraine conflict, the Exim Bank said. The bank said the non-oil exports are forecast to amount to USD 86.6 billion in the first quarter of the new fiscal year. It said exports have displayed resilience amidst a challenging global economic situation, plagued by supply chain disruptions and geo-political tensions, and have consistently remained above USD 100 billion for seven consecutive quarters since Q2

EXIM Bank profit rises two-fold in FY23, revenue rises 37% to Rs 11,488 cr

Export-Import (EXIM) Bank of India on Friday reported a two-fold jump in its FY23 net profit to Rs 1,556 crore and said its operations have had minimal direct impact of the Russia-Ukraine war. The policy bank is aiming for a loan book expansion in the 12-15 per cent range in FY24, and will be raising USD 4 billion from the market to support the same, its managing director Harsha Bangari told reporters. The bank is also keen to start factoring services from the GIFT City, and will be launching a subsidiary at the international financial services centre for the same purpose later this fiscal, Bangari said. For FY23, it reported a 37 per cent growth in its total income to Rs 11,488 crore and a 14 per cent growth in net loan assets to Rs 1.34 lakh crore. The net interest margins (NIMs) widened to 2.3 per cent as against 2.19 per cent in the year-ago period, and Bangari said it will maintain the same number at above 2 per cent, making it clear that chasing interest income is not the ...

Export lender Exim Bank to raise up to record $4 billion in FY24

Net NPA increased to 0.71 per cent in March 2023 from nil in March 2022