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Exim Bank Net Profits Drop by 87%
July 12, 2017
The Export Import Bank (Exim Bank) has reported a considerable loss of 87% in net profits which stood at Rs. 41 crores in FY17. Since its post-tax profit for FY16 stood at Rs. 316 crores, and for FY15 at Rs. 710 crores, there is a clear indication of declining performance over the past few years. However, the bank has not given any reason for the falling income.
Exim Bank had raised a little more than Rs. 21,000 crore and Rs. 18,800 crore in the year as rupee borrowing and forex borrowing respectively in the year. It had also received Rs. 500 crore from the government during the same period.
