India’s National Export Credit Agency Investor Presentation · •World’s 5th largest economy based on nominal GDP in CY 2019, up from being the 7th largest economy in CY 2018.(2)

India’s National Export Credit Agency

Investor Presentation

January 2020

Presentation Outline

Exim Key Credit Highlights

The India Story

The Exim Bank Story

Appendix

2

Exim Bank: Key Credit Highlights

100% owned by the Government of India (‘’GoI’’) and Exim Bank

Bonds eligible for inclusion in EMBIG

International investment grade ratings at par with Sovereign

Policy Bank for India’s Economic Diplomacy

Strong regulatory capital position

GoI Backstop – Policy Business guaranteed/ insured by the

Sovereign

4

Exim Bank: Key Credit Highlights

GOI Backstop- Policy Business

100% owned by GoI and Bonds EMBIG eligible

Exim: Proxy to

Sovereign

Financial Strength-strong

regulatory capital positon Policy Role at

National Level

1

2

34

5 India’s engine for growth of International

Trade

The India Story

India: Strong Macro backed by supportive Policy Environment

Resilient GDP Growth(1,2,3)

• World’s 5th largest economy based on nominal GDP in CY 2019, up from being the 7th largest economy in CY 2018.(2)

o Nominal GDP for CY 2019: ~US$ 2.9 tn.(2)

• World’s 3rd largest economy based on GDP measured in PPP terms in CY2019.(2)

o GDP in PPP terms for CY 2019: ~US$ 11.3 tn.(2)

• Real GDP during Q2 FY20 grew by 4.5%. (3) Real GDP growth projected at 5% in FY20.(4)

• India jumped up 14 notches to the 63rd position from 77 during 2018-19 on the World Bank’s ‘Ease of Doing Business’ Ranking 2020.

Source: (1) Institute of International Finance (IIF); (2) IMF World Economic Outlook October 2019. Data for CY; (3) Ministry of Statistics and Programme Implementation (MOSPI); (4) Reserve Bank of India (RBI); CYmeans calendar year ; FYxx means financial year ended March 31, 20xx.; P – IMF Projections

6

7.2% 6.8%6.1%

7.0%

6.8% 6.6%6.1% 5.8%

2.4%2.9%

2.4% 2.1%

3.8% 3.6%3.0% 3.4%

CY 2017 CY 2018 CY 2019 P CY 2020 PIndia China United States World

18.2% 17.7% 17.9% 17.2% 16.1%30.0% 30.0% 29.4% 29.3% 29.6%51.8% 52.3% 52.7% 53.5% 54.3%2043 2148 2287

2626 2779

7.4%8.0% 8.2%

7.2% 6.8%

3.0%

4.0%

5.0%

6.0%

7.0%

8.0%

9.0%

0

1000

2000

3000

4000

5000

6000

FY 15 FY 16 FY 17 FY 18 FY 19

(US$

bn)

Agriculture (%) Industry (%) Services (%) Real GDP Growth (%)

Indian Economy: Key Economic Indicators

Banking Sector Statistics(2)

Key Parameters FY17 FY18 FY19 ChangeGross Domestic Saving (% of GDP) (3) 30.3 30.5 - -Gross Domestic Investment (% of GDP) (3) 30.9 32.3 - -Gross Fixed Capital Formation (% of GDP) (3) 28.2 28.6 29.3 70 bpsFiscal Deficit (% of GDP) (3) 3.5 3.5 3.4 (10 bps)Revenue Deficit (% of GDP) (3) 2.1 2.6 2.2 (40 bps) FDI Inflows (US$ bn) (2) 60.2 61.0 64.4 5.60%Exchange Rate (INR/US$, avg.) (2) 67.1 64.5 69.9 8.37%

Source: (1) Institute of International Finance (IIF) Database; (2) Reserve Bank of India, Press Releases and Online Database (accessed online on 31/12/2019); (3) Central Statistics Office; * Annual Average CPI inflationwith base year 2012=100

Key Parameters FY17 FY18 FY19 Change

Credit Deposit Ratio 73.0 74.2 78.2 400 bps

Banking Sector CRAR 13.6 13.8 14.3 50 bps

Banking Sector Net NPAs 5.3 6.0 3.7 (230 bps)

Provision Coverage Ratio 43.5 48.3 60.5 1220 bps

NBFC CRAR 22.1 22.1 19.5 (260 bps)

NBFC Net NPAs 4.4 3.3 3.4 10 bps

Key Macroeconomic MetricesGeneral Government Debt (% of GDP) (1)

Inflation/ Policy Rates (2)*

7

51.4 51.5 49.6 49.1 48.2

15.2 17.1 15.6 19.8 20.166.6 68.6 65.2 68.9 68.3

FY 15 FY 16 FY 17 FY 18 FY 19Centre State

Source: (1) MOCI; (2) Balance of Payment Statistics, RBI; CAD – Current Account Deficit

Composition of CAD(2)

46 40 44 37 29 28 25 27 53Exports

141 65 48 55 46 34 32 20 73Imports

Petroleum Products Gems & Jewellery ChemicalsElectronics Items Machinery Ores & MineralsBase Metals Transport Equipment OthersAgri & Allied Products Textiles

Sound External Sector

Trade Trends(1)(2)

US$ 330 bn

US$ 513 bn

US$ 208 bn

7 22 21 3 40 33Imports

Telecom, computer & information services TravelTransport Financial servicesOther Business services Others

US$ 126 bn

Merchandise Trade Pattern in FY 19(1)

80 28 17 5 19 46Exports

Services Trade Pattern in FY19(2)

8

-14.4-48.7 -57.2

-20.4

-0.6%-1.9% -2.1%

-1.5%

-3.5%

-1.5%

0.5%

2.5%

-250.0

-50.0

150.0FY17 FY18 FY19 FY 20 (Apr-Sep)

(US$

bn)

Trade Deficit Services Surplus Primary IncomeSecondary Income Current Account Deficit CAD (% of GDP)

439 499 538

308

480584 639

360163 195 208

186

96 118126

285

FY17 FY18 FY19 FY 20 (Apr-Oct)

(US$

bn)

Services Exports Services ImportsMerchandise Exports Merchandise Imports

276 384466

330304513

12275

Sound External Sector

Major Trading Partners(1)

India’s Export Markets(1) India’s Import Sources (1)

Note: Data for North America does not include Mexico; Mexico has been included in Latin America; the above charts represent India’s merchandise trade for FY 2019Source: (1) MOCI

Regional Trade Direction(1)

Asia 49%

Europe 20%

North America

17%

Africa 9%

Latin America

4%

CIS, Baltics & Others

2%

Exports

Asia 62%

Europe 15%

North America

8%

Africa 8%

Latin America 5% CIS, Baltics &

Others2%

Imports

88 87

60

34 31 28 24 24 21 21 19 18 17 17 17

17

-54

0.3

-23

-5 -5

-21 -6 -1

2

-11

-17 -8 -4

-4

-10

(US$

bn)

Total Trade Trade Balance

Chin

a

USA

UAE

Iraq

Sing

apor

e

Hong

Kon

g

Saud

i Ara

bia

Germ

any

Iran

Belg

ium

Mal

aysia

Japa

n

Switz

erla

nd

Indo

nesia

Rep.

of K

orea

2%3%3%3%3%

4%4%

5%9%

16%

NepalNetherlands

GermanyBangladesh

UKSingapore

Hong KongChina

UAEUSA

3%3%3%

4%4%

4%6%

6%7%

14%

IndonesiaSingapore

Rep. of KoreaHong Kong

SwitzerlandIraq

Saudi ArabiaUAEUSA

China

9

External Debt vis-à-vis External Reserves

(1) ‘Volatile Capital Flows’ is defined to include cumulative portfolio inflows and short-term debt (RBI); (2) Volatile Capital Flows to Reserves ratio peaked at 97.4% in September 2013; (3) Source: RBI/Ministry ofFinance, Government of India; * Short-term debt with residual maturity

Mar ‘19 Sep ‘19

External Debt 543.2 557.5

External Reserves 412.9 433.7

External Debt External Reserves

(US$ bn)

As on Mar 2019 As on Mar 2019

Analysis of External Debt vs External Reserves

38%

24%

20%

11%5% 2%

Commercial Borrowings

Short Term

Non Resident

Multilateral

Bilateral

Trade Credit

10

93%

6% 1%

FC Assets

Gold

SDRs / Reserve Tranche

Recent Policy Measures to Boost Growth

• INR 102 trillion for developing modern infrastructure during the fiscals 2020 to 2025; projects identified are in sectors such as energy, roads, urban development and railways.

• Delayed Payments from Government/ Central Public Sector Enterprises (CPSEs) to be monitored by Department of ExpenditureInfrastructure

Consumption demand

Automotive Sector• BS IV vehicles purchased till March 31, 2020 to remain operational for entire period of registration• Revision of one time registration fees deferred till June 2020• Rate of depreciation on all vehicles (acquired until March 31, 2020) increased to 30%• Both electric vehicles (EVs) and internal combustion vehicles (ICVs) will continue to be registered• Government to focus on setting up infrastructure for development of ancillaries /components including batteries for export• Ban on purchase of new vehicles for replacing all old vehicles by government departments to be liftedHousing Sector• Easing of ECB guidelines for HFCs to facilitate financing for eligible borrowers under Pradhan Mantri Awas Yojana (Housing for All)• The interest rate on House Building Advance shall be lowered and linked to 10 Year G Sec Yields• Stimulus package of INR 25,000 crore announced to provide priority debt financing for the completion of stalled housing projects in

the Affordable and Middle-Income Housing sector

• One day required to incorporate a company - Central Registration Centre for name reservation & incorporation.• Amendment to MSME Act - Single definition to be considered• UK Sinha Committee recommendations on ease of credit, marketing, technology, delayed payments etc. to be considered• Banks to issue improved transparent One Time Settlement policy to benefit MSME and retail borrowers in settling their overdues for

improved transparency

Corporate Affairs &

MSME

12

Tax Incentives

• Corporate Tax reduced to 22% (effective rate of 25.17% incl. surcharge & cess) from 30% for companies not seeking any incentives/ exemptions; These companies are also not required to pay Minimum Alternate Tax (MAT)

• Fresh investments by a domestic manufacturing firm incorporated on/before October 1, 2019 to be taxed at only 15% (effective rate of 17.01% incl. surcharge & cess), reduced from 25%, provided production commences before March 31, 2023

• Companies that opt out of concessional tax regime and avail the tax exemption/incentive to pay pre-amended rates, can opt for concessions after expiry of tax holiday

• MAT reduced to 15% from 18.5% for companies availing exemptions


• Enhanced surcharge withdrawn on long term and short term capital gains arising from sale of equity in a company / a unit of an equity oriented fund / a unit of a business trust liable for securities transaction tax, thus ensuring flow of funds from domestic investors and FPIs.

• Government to take further action on development of Credit Default Swap markets in consultation with RBI and SEBI.• Ministry of Finance to work with RBI to make it more conducive for investors and bond issuers, as well as facilitate increased trading • Government has amended the Companies (Share capital and Debenture rules) 2014 to remove the requirement for creation of a

Debenture Redemption Reserve (DRR) of outstanding debentures in respect of listed companies, NBFCs and for HFCs.• Establishment of an organisation to provide Credit Enhancement for infrastructure and housing projects proposed, in order to improve

access to long term finance.

Capital & Financial Markets

Banks/NBFCs/ Amalgamation

of Banks

• Upfront release of INR 700 billion (announced in Budget), providing additional lending and liquidity to the tune of INR 5 trillion to PSBs. • Reduced EMI for housing loans, vehicle and other retail loans by directly linking Repo rate to interest rates; Working capital loans for

industry to also become cheaper• Partial Credit Guarantee scheme for purchase of pooled assets of NBFCs/ HFCs upto INR 1,000 billion• Additional liquidity support of INR 200 billion to NBFCs/HFCs by National Housing Bank (NHB) thereby increasing it to INR 300 billion• Amalgamating Banks to have enhanced capacity to increase credit; strong national presence and global reach; increased operational

efficiency; enhanced risk appetite with thrust on NextGen technology; and better ability to raise resources from markets • Capital infusion of INR 552.5 billion announced for amalgamating banks to boost credit growth• Revision of Liquidity Coverage Ratio (LCR) requirement for NBFCs with assets of INR 10,000 crores and above; minimum High Quality

Liquid Asset (HQLA) to be at 50% of LCR from Dec 1, 2020, progressively reaching up to 100% by December 1, 2024.


• Scheme for Remission of Duties or Taxes on Export Product (RoDTEP) to replace MEIS January 01, 2020• Fully automated electronic refund route for Input Tax Credits (ITC) in GST• Scope of Export Credit Insurance Scheme (ECIS) by ECGC to be expanded by providing higher insurance cover to banks lending

working capital for exports.• Priority Sector Lending (PSL) norms for Export Credit to be revised, this would release an additional INR 360 billion to INR 680 billion

as export credit under priority sector. An Inter Ministerial Working Group in Department of Commerce to be set up to monitor Export Finance.

• “Time to Export or Turn-around time” reduced through seamless digitization process benchmarked to international standards and elimination of offline/manual services by Dec 2019

• DGFT launched an Online “Origin Management System” for exporters to enable them to obtain Certificates of Origin – CoO (under Rules of Origin)

• Special FTA Utilisation Mission to enhance awareness among exporters for concessional tariff utilization under each FTA• To overcome non-tariff barriers, a Working Group on Technical Standards to be set up to lay down a roadmap for adoption of

standards, time lines and enforcement • Affordable testing and certification infrastructure to be expanded and developed in PPP mode to enable internationally accepted

tests and certification within India

Export Promotion Measures

Foreign Direct Investment

• 100% FDI in coal & lignite mining for captive consumption by power projects, iron &steel and cement units as well as for sale of coal and related activities through automatic route

• 100% FDI through automatic route in manufacturing including contract manufacturing through wholesale/retail (including e-commerce)

• 100% FDI in single brand retail with relaxed sourcing norms to promote increased sourcing of goods from India• 26% FDI with Government approval for digital media

The Exim Bank Story

Exim Bank: India’s Export Credit Agency

Genesis

Vision

15

“To develop commercially viable relationships with a target set of externally oriented companies by offering them a comprehensive range of

products and services, aimed at enhancing their internationalisation efforts”

Set up under an Act of Parliament in 1981 by the Government of India

“for providing financial assistance to exporters and importers, and for functioning as the principal financial institution for coordinating the working of

institutions engaged in financing export and import of goods and services with a view to promoting the country’s international trade…”

“… shall act on business principles with due regard to public interest”

Objectives

An instrument of Government policy as India’s official Export Credit Agency.

100% owned by Government of India and Exim Bank Bonds eligible forinclusion in EMBIG

o A track record of GoI capital infusion

o Can not be liquidated without GoI Approval

Proxy to the India Sovereign in international debt markets.

Board of Directors are appointed by GoI

o Comprises top officials from key GoI ministries (Finance, Commerce andIndustry and External Affairs) and Reserve Bank of India.

GoI Backstop – Policy Business guaranteed/ insured by the Sovereign

Exim Bank: Proxy to Sovereign

16

100%owned by GoI and

BondsEMBIG eligible

Proxy to India Sovereign in InternationalDebt Markets

DirectorsAppointed

by GoI

GoI Backstop:Policy

Business

Strong Government Support

Policy Bank

17

Exim Bank: Capital Infusion / Proxy to Sovereign

Exim’s credit rating has been on par with India sovereign rating since its establishment

International Rating is Baa2 (Negative)

International Rating is BBB- (Stable)

International Rating is BBB- (Stable)

Domestic Rating is AAA (Stable)



International Rating is BBB+ (Stable)

Government Capital Infusion

5 5

50

15

FY17 FY18 FY19 FY20

(INR bn)

Exim Bank’s Line of Business

Export Finance

Lines of Credit / CFS

Buyer’s Credit –NEIA

Pre-Shipment Credit

Post-Shipment Credit

Guarantees and L/Cs

Export Capability Creation

Term Loans

Working Capital

Export Product Development

Export Facilitation

Overseas Investment

Finance

Import Finance

Guarantees and L/Cs

[1]: As on September 30, 2019; [2] Excluding 39% India exposure; [3] Exposures value of less than 1% are excluded

INR 1071 bn INR 154 bn

18

Loan Portfolio [1][3] Non-Funded Portfolio [1][3]

Risk Exposure [1] Country Exposure [1][2][3]

Export Finance 60.48%

Term Loan to Exporters

20.53%

Overseas Investment Finance 11.85%

Import Finance 4.76%

Export Facilitation 2.36%

Performance Guarantee,

36.72%

Advance Payment Guarantee, 29.23%

Risk participation, 13.13%

Retention Money Guarantee, 2.20%

Financial Guarantee , 10.10%Letters of Credit, 7.15%

GOI Risk, 49%

Corporate Risk (Secured), 37%

Bank Risk/Corporate Risk (Unsecured), 14% East Africa, 11.63%

Southern Africa, 9.34%

North Africa, 7.38%

Central Africa, 5.46%

West Africa, 14.61%

South Asia, 35.03%

West Asia, 3.37%

SEA FE & PAC, 6.18%

Europe, 3.08% Americas, 3.88%

Exim Bank : Line of Business

Above data as on September 30, 2019; 19

81% 76% 88% 87%

19%24%

12% 13%

FY 17 FY 18 FY 19 6MFY20

Medium/Long Term Loans Short Term Loans

33% 31% 24% 27%

67% 69%76% 73%

FY 17 FY 18 FY 19 6MFY20

Rupee Foreign Currency

34% 36%

47% 49%

66% 64%

53% 51%

FY 17 FY 18 FY 19 6MFY20

Policy Business Commercial Business

86% 82%94% 92%

14% 18%6% 8%

FY 17 FY 18 FY 19 6MFY20

Direct Refinance

Asset Quality

Non Performing Assets(2)(3)

% of Total Loan outstanding NPAs as % of Total GNPAs

A

Note: [1] Excludes advances under Lines of Credit, Buyer’s Credit under NEIA and staff loans which cannot be classified under any particular sector; [2] As on September 30, 2019; [3] Others includes industries with exposure less than 1% of the Gross Loan Outstanding.

20

Current credit watchlist of INR 14.83 bn including IL&FS Group (INR 2.26 bn) [2]

Gross Loans outstanding by Major Industries(1)(2)(3)

9.24%

10.37%

11.34% 11.50%

4.68%

3.75%

2.44%2.72%

55%

71%

85% 83%

7.02% 4.18% 2.74%1.32%

2.06%5.52%

1.72% 1.55%0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

0.00%

2.00%

4.00%

6.00%

8.00%

10.00%

12.00%

14.00%

FY 17 FY 18 FY 19 6M20

Gross NPA

Net NPA

PCR

Slippage Ratio

Credit Cost Ratio

9.33%

4.67%

4.55%

3.63%

3.31%

2.82%

2.55%

1.98%

1.65%

1.40%

1.37%

1.37%

1.06%

1.01%

10.65%

0.00%

7.35%

22.93%

9.01%

1.75%

0.00%

2.56%

3.85%

3.86%

8.07%

0.68%

11.95%

7.03%

0.41%

20.56%

Bank & FIs

Ferrous Metal & Processing

Oil and Gas

Textile Garment

Chemicals and Dyes

Petroleum Products

Drugs & Pharma

Petrochemicals

Renewable energy

EPC Services

Shipping Services

Ship building

Mining and Minerals

Auto & Auto Components

OthersStandard Gross NPL

Insolvency and Bankruptcy Code: Faster NPA resolutionA

21

OutstandingAmount

Provision (%)

Net Book Value

Expected Recovery

(A) Exim Loans admitted/ referred 55.90 83% 9.34 14.03

(B) Guarantors for Exim Loans[2] 33.68 89% 3.59 6.71

Total 89.58 86% 12.93 20.74

Lending Programme % of Total NPAs

% of Bank’s Exposure

Overseas Investment Finance 43.44 5.00Term Loan to Exporters * 28.17 3.24Export Finance ** 19.15 2.20Import Finance 9.21 1.06Export Facilitation 0.03 0.00Total 100 11.50

Note: # National Company Law Tribunal[1] As on September 30, 2019; [2] Corporate under NCLT which are Guarantor to the Loans extended by Exim Bank. (3) Excluding refinance to banks* includes Export Oriented Units (EOUs), ** includes Buyers Credit, Deemed exports, EPCDF and PPSC etc.

Exim’s Loan Accounts under Exposure to NCLT #(1)

Non Performing Assets(1)

INR bnAsset Quality of Commercial Portfolio (1) (3)

Out of total PA loans O/s by amount as of September 30, 2019,

49% are rated AA and above and 84% are BBB and above.

AA & above49%

A25%

BBB10%

BB & below6%

No Rating10%

AA & above A BBB BB & below No Rating

Exim Bank-Financial Highlights

[1] Includes loans and advances to industrial concerns, scheduled banks, foreign governments and other financial institutions and bills of exchange and promissory notes discounted / rediscounted. Amounts stated are net of provisions for non-performing assets (NPAs).

22

Capital Strength

Profitability

Total Assets, Loans and Advances(1)

Solvency Ratio

14.29%8.82%

17.71% 18.79%

1.52%

1.53%

1.36% 1.18%15.81%

10.35%

19.07% 19.97%

FY17 FY18 FY19 6MFY20

Tier I (%) Tier II (%) CAR (%)

2.50 2.38

6.41 5.91


1,17

2

1,23

5

1,14

6

1,23

4

1,02

6

1,07

5

936 1,

071

34% 36%

47%49%

FY17 FY18 FY19 6MFY 20

(INR

bn)

Total Assets Policy Business (Loans and Advances) Commercial Business (Loans and Advances)

66% 64% 53% 51%

24.8

1

19.3

1

20.6

8

10.2

6

19.3

9

16.5

2

19.7

0

10.0

1

21.6

8

61.6

1

18.8

1

8.16

0.41

(29.

24)

0.82

0.61

1.78 1.46

1.84 1.78


Operating Profit (INR bn) Net Interest Income (INR bn)Provisions (INR bn) Net Profit (INR bn)NIM (%)

Asset Liability Management A

23

Fully hedged position on currency and basis risk. Both Assets and Liabilities on floating LIBOR basis.

Exim Bank’s quasi sovereign status enables issuance at benchmark rates.

Debut 10 year 144A issuance in July 2016 and the second 10 year 144A issuance in January 2018 for USD 1 bn each under GMTN Program.

Regular issuer in the International debt markets with 29 issuances since 2004 under the MTN including 4 Uridashi and 2 144A issuances. 5 Samurai issuancessince February 2006 including the latest issued in 2 tranches in September 2019.

Issuances across currencies including USD, AUD, CHF, CNY, JPY, MXN, SGD, TRY and ZAR

[1) As on September 30, 2019

Foreign Currency Asset Liability Gaps[1] Total Resources/ Assets[1]

253 240204

182

267250

290

230

135 156

<= 1 yr 1-3 yr 3-5 yr 5-7 yr >7 yr

Maturing Assets (Equ. INR bn) Maturing Liabilities (Equ. INR bn)

FC Resources69%

Rupee Resources

18%

Capital & Reserves13%

FC Loans68%

Rupee Loans24%

Investment8%

Exim Bank - Board of Directors A

24Directors representing Ministries of Finance, Commerce and External Affairs

Directors representing major Indian Public Sector Banks

Director representing regulator - RBI

Whole Time Directors

Bidyut Behari SwainAdditional Secretary, Department of Commerce, Ministry of Commerce and Industry

Pankaj JainAdditional Secretary, Department of Financial Services, Ministry of Finance

Michael Debabrata PatraExecutive Director, Reserve Bank of India

T.S. TirumurtiSecretary (Economic Relations), Ministry of External Affairs

Rajnish KumarChairman, State Bank of India

David RasquinhaManaging Director

Kalyanaraman RajaramanAdditional Secretary (Investment), Department of Economic Affairs, Ministry of Finance

Rajkiran Rai GundyadkaManaging Director and CEO, Union Bank of India

Rakesh SharmaManaging Director and CEO, IDBI Bank

Anand Singh BhalSenior Economic Adviser, Ministry of Commerce and Industry

A S RajeevManaging Director and CEO, Bank of Maharashtra

T.S. TirumurtiSecretary (Economic Relations), Ministry of External Affairs

M. SenthilnathanChairman-cum- Managing Director(Additional Charge), ECGC Ltd.

Director representing India’s Export Credit Insurance Company

Appendix

Financial Highlights

Figures in INR mn FY17 FY18 FY19 6MFY20

Cash and Bank Balance 36,909 28,155 42,120 89,160

Investments 51,029 56,969 93,274 93,073

Loans and Advances(1) 1,026,410 1,075,321 936,171 973,853

Fixed Assets 1,298 1,259 2,277 2,222

Other Assets 56,427 73,486 72,412 75,448

Total Assets 1,172,074 1,235,190 1,146,254 1,233,756

Paid up Capital & Reserves(2) 120,239 96,002 146,736 156,236

Deposits 3,726 2,861 2,528 2,368

Notes, Bonds and Debentures 806,930 865,817 779,196 858,547

Borrowings 150,073 172,973 141,318 130,436

Profit and Loss Account 41 - 82 608

Other Liabilities & Provisions 91,065 97,537 76,394 85,561

Total Liabilities 1,172,074 1,235,190 1,146,254 1,233,756Note: (1) Includes loans and advances to industrial concerns, scheduled banks, foreign governments and other financial institutions and bills of exchange and promissory notes discounted / rediscounted. Amounts stated are net of provisions for non-performing assets (NPAs). ; (2) Includes paid-up capital and reserves.

26

Balance Sheet


Figures in INR mn FY17 FY18 FY19 6MFY20

Interest Earned 84,411 82,384 87,266 42,273Interest Expended 65,022 65,863 67,567 32,268Net Interest Income 19,389 16,521 19,699 10,005Non-Interest Income 7,942 5,399 3,700 1,824Non-Interest Expense 2,525 2,608 2,718 1,563Net Non-Interest Income 5,417 2,791 982 261Operating Profit 24,806 19,312 20,681 10,266Provisions and Contingencies 21,680 61,610 18,806 8,161

Profit / (Loss) Before Tax (PBT) 3,126 (42,298) 1,875 2,105

Tax (Net of Deferred Tax) 2,714 (13,061) 1,058 1,497Profit / (Loss) after Tax (PAT) 412 (29,237) 817 608

27

Profit and Loss Summary



Net Interest Margin 1.70% 1.31% 1.56% 1.59%

Gross NPA 9.24% 10.37% 11.34% 11.50%

Net NPA 4.68% 3.75% 2.44% 2.72%

ROAA 0.04% -ve 0.07% 0.10%

ROAE 0.62% -ve 1.04% 1.16%

CRAR 15.81% 10.35% 19.07% 19.97%

Core CRAR 14.29% 8.82% 17.71% 18.79%

Slippage Ratio 7.02% 4.18% 2.74% 1.32%

Credit Cost 2.06% 5.52% 1.72% 1.55%

28

Key Ratios

A

Issuances in International Debt Markets

29

Upto March 2009

FY 2009-10

FY 2010-11

FY 2011-12 FY 2013-14 FY 2015-16 FY 2017-18

FY 2012-13 FY 2014-15 FY 2016-17 FY 2018-19

•USD 250 mn Reg-S•JPY 5.55 bn Reg-S•JPY 23 bn Samurai•JPY 26 bn Samurai•USD 50 mn Reg-S•JPY 24 bn Reg - S

•USD 200 mn Reg-S•JPY 15 bn Reg-S•JPY 20 bn Samurai•USD 110 mn Reg-S

•AUD 39 mn + JPY 2.90 bn + ZAR 370 mn Reg-s (Uridashi)

•USD 500 mn Reg-S•SGD 250 mn Reg-S•USD 750 mn Reg-S

•USD 500 mn Reg-S•JPY 20 bn Samurai•USD 500 mn Reg-S

•USD 1 bn 144A / Reg-S •USD 500 mn Reg-S

Samurai Issuance Uridashi Issuance 144A Issuance

•USD 150 mn Reg-S•USD 300 mn Reg-S

•CHF 190 mn Reg-S

•AUD 200 mn Reg-S•JPY 11.27 bn + MXN 286.10 mn + TRY 59.60 mn Reg-S (Uridashi)

•JPY 15 bn Reg-S (Uridashi)

•USD 500 mn Reg-S•CNY 300 mn Reg-S•CNY 300 mn Reg-S•AUD 164.50 mn + USD 42.80 mnReg-S (Uridashi)

•USD 500 mn Reg-S

•USD 400 mn Reg-S (Formosa)

•USD 1 bn 144A / Reg-S

FY 2019-20

•JPY 32 bn Samurai•USD 50 mnMekong Region Development Bonds

PARTNERINGGROWTH.GLOBALISINGINDIA.

Documents

India’s National Export Credit Agency Investor Presentation · •World’s 5th largest economy based on nominal GDP in CY 2019, up from being the 7th largest economy in CY 2018.(2)