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The Exim Bank is looking at a 20% growth in loan portfolio during the current financial year despite the slowdown which has gripped many countries, particularly European ones.
"Like last fiscal, we are looking at a 20% growth this financial year. The business scenario continues to be good this fiscal," executive director of Exim Bank David Rasquinha said.
With Europe becoming less attractive as an export destination, Exim Bank has been shifting focus toward Africa, Far East and the Middle East, he told reporters here today.
He said with project exports being the mainstay of Exim Bank, the bank's major markets at the moment are Sri Lanka, Bangladesh, Ethiopia, Nepal and Mozambique.
Exim Bank would shortly open an office at Myanmar, he said.
Rasquinha said during the last fiscal, the bank had restructured accounts aggregating to Rs 3,000 crore. "Some more accounts will be restructured during this fiscal," he said.
The bank's paid-up capital stood at Rs 3,700 crore at present. The government was infusing capital in every year's budget.
