Exim Bank to borrow Rs20,000 cr in FY10

Exim Bank to borrow Rs20,000 cr in FY10
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First Published: Thu, May 21 2009. 05 49 PM IST
Updated: Thu, May 21 2009. 05 49 PM IST
Mumbai: Export Import Bank of India plans to raise about Rs20,000 crore in 2009-10, a top official said on Thursday.
Of this, Rs6,000 crore would be raised through foreign currency debt and the remaining would be rupee debt, chairman and managing director TC Venkat Subramanian told reporters.
Market borrowings constitute 81% of the total resources of Exim Bank, which provides funding support to exporters and importers.
“We will look at loan demand and cheaper rates while borrowing,” Subramanian said when asked in how many tranches the funds would be raised.
It also expects its loan assets to rise 20% in 2009-10. Focus would be given on loans to exporters shipping products to developing countries, he said.
In 2008-09, EXIM Bank’s loans rose 18% to Rs34,505 crore.
“We expect to maintain our net interest margins at 1.89% in the current year,” he added.
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First Published: Thu, May 21 2009. 05 49 PM IST