India Exim Bank announced results for the financial year 2023-24. The Bank reported significant growth across key business performance parameters, reflecting the commitment to support India’s trade and investment, and developmental priorities of partner countries. Evincing India’s strong growth story and the increased credit demand, the Bank sanctioned fresh loans aggregating Rs 1,06,312 crore. The loan portfolio grew by 17% in FY2023-24, driven by strong growth in sectors such as clean and renewable energy, automotive, engineering goods, pharmaceuticals, and telecommunications.
The Bank witnessed growth in strategically important sectors mainly e-mobility, high-tech, and aerospace. Net interest income (NII) increased by 4.6% to Rs 3,540 crore for the FY2023-24, primarily on account of higher increase in interest income from loans and advances. In terms of the Non-Performing Assets (NPAs), with the improvement in asset quality and reduction in incremental slippages, the Gross NPAs declined significantly from 4.09% as on March 31, 2023 to 1.93% as on March 31, 2024, and Net NPAs declined from 0.71% as on March 31, 2023 to 0.29% as on March 31, 2024.
