EXIM Bank achieves net profit of Rs 299 cr

Mumbai, Apr 30 (UNI) The Export-Import Bank of India (Exim) has registered a net profit of 10.6 per cent at Rs 299 crore in the financial year (FY) 2006-07.

Announcing the annual results, here, today, Exim Bank MD T C Venkat Subramanian said loan approvals were also increased 31 per cent during the period from the past year's margin of Rs 20,489 crore to Rs 26,762 crore in FY 2006-07.

The Bank is plannign joint venture with Khadi and Village Industries Commission (KVIC) to set up a joint export marketing organisation, with a view to promote exports of products from rural enterprises, he said.

Apart from this, the Exim Bank has entered into a tie-up with the International Trade Center (ITC), Geneva, to implement a unique enterprise management development services program to support small and medium enterprises (SMEs) to enter international market.

UNI