1

India’s National Export Credit AgencyInvestor Presentation

Presentation Outline

2

Exim Key Credit Highlights

The India Story

The Exim Bank Story

Appendix

3

Exim Key Credit Highlights

4

Exim Key Credit Highlights

Management Strength

India: Strong Macro backed by supportive policy Environment

Exim: Proxy to Sovereign

Financial HighlightsPolicy Role at National Level

1

2

34

5

India’s engine for growth of International

Trade

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

100% owned by the Government of India (“GoI”).

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

Assists GoI in policy formulation and project selection under Economic

Diplomacy.

International investment grade ratings at par with Sovereign and BBB+ rating

by JCR.

Policy Business Guaranteed / Insured by the Sovereign.

Strong regulatory capital position.

Strong access to multiple sources of liquidity, both onshore and offshore.

5

The India Story

6

India: Strong Macro backed by supportive Policy Environment

Resilient GDP Growth(1,2,3)

World’s 6th largest economy based on nominal GDP in CY 2017.(2)

o Nominal GDP for CY 2017: ~US$ 2.6 tn.(2)

World’s 3rd largest economy based on GDP measured in PPP terms in CY2017.(2)

o GDP in PPP terms for CY 2017: ~US$ 9.5 tn.(2)

India jumped up 23 notches to the 77th position from 100 during 2017-18 on the World Bank’s ‘Ease of Doing Business’ Index 2019.

GDP growth for Q2 2018-19 (Jul-Sep) estimated at 7.1%, as against 8.2% in Q1 2018-19 (Apr-Jun) and 7.7% in Q4 2017-18 (Jan-Mar).(3)

Favorable demographic profile: 66% of the population is between the age of 15 to 64 years.(4)

Growth in India has been majorly driven by an upswing in consumption and investment.(4)

Source: (1) Institute of International Finance (IIF); (2) IMF World Economic Outlook October 2018 & January 2019 Update. Data for CY; (3) Ministry of Statistics and Programme Implementation (MOSPI); (4) World BankDatabase; FYxx means financial year ended March 31, 20xx.; E- Estimated ; F – Forecast; P – Projected.

7

Indian Economy: Key Economic Indicators

General Government Debt (% of GDP) (1) Current Account Deficit (2) Currency Movement (4)(6)

Key Macroeconomic MetricesInflation Rate (2)**

Key Parameters FY10 FY14 FY18 Change

Gross National Saving (% of GDP) (3) 33.7 32.1 30.0# (210 bps)

Gross Domestic Investment (% of GDP) (3) 36.3 33.8 30.6# (320 bps)

Gross Fixed Capital Formation (% of GDP) (3) 31.7 31.2 29.5## (270 bps)

Capital Expenditure(3)(5) 9.4 12.0 12.3## 30 bps

Fiscal Deficit (% of GDP) (3) 6.5 4.5 3.3## (120 bps)

Revenue Deficit (% of GDP) (3) 5.2 3.2 2.2## (100 bps)

FDI Inflows (US$ bn) (2) 37.7 36.0 61.0 69.44%

Exchange Rate (INR/US$, avg.) (2) 47.4 60.5 64.4 6.45%

Source: (1) Institute of International Finance (IIF) Database; (2) Reserve Bank of India, Press Release and Online Database (accessed online on 30/01/2019; (3) Central Statistics Office; (4) Bloomberg (Rebased to 100); (5) % of Total Expenditure for FY10 & FY14 and % of Budget estimate for FY19; # Data pertains to FY17 Revised Estimates; ## Data pertains to Budget Estimates/ Advance Estimates of FY19 ; ** Base year for CPI Inflation FY14-FY19 is 2012=100; (6) INR: Indian Rupee; RUB: Russian Ruble; BRL: Brazilian Real; CNY: Chinese Yuan; IDR: Indonesian Rupiah; PHP: Philippines Peso

Jan-15 Jan-16 Jan-17 Jan-18 Jan-19

Indian Rupee Russian RubleBrazilian Real Chinese Yuan

9.3%

5.8%4.9% 4.5%

3.6%

2.2%

5.2%

1.2%

-3.7%

1.7% 2.9%

3.8%

FY14 FY15 FY16 FY17 FY 18 FY 19(Dec)

CPI WPI

8

Sound External Sector

Trend of Merchandise Trade(1) Trend of Services Trade(2)

India’s Export Pattern(1) India’s Import Pattern(1)

FY 2014

FY 2018

FY 2014

FY 2018

Merchandise trade (exports + imports) as percentage of GDP stood at 29.7% in FY18.(1) India’s share in global merchandise trade stood at 2.1% (2017).(3)

India emerged as the 20th largest merchandise exporter in 2017; and accounted for 1.7% of global merchandise exports in the same year.(3)

India is the 9th largest exporter of services in 2017, accounting for 3.4% of global services exports.(3)

Source: (1) MOCI/IIF; (2) Balance of Payment Statistics, RBI; (3) World Trade Organization (accessed on 30/01/2019).

(US$ bn) (US$ bn)

US$ 314 bn

US$ 303 bn

US$ 450 bn

US$ 466 bn42

41

38

31

37

63

36

37

28

22

27

33

25

18

23

22

47

47

Gems & Jewellery Chemicals Petroleum Products

Textiles Base Metals Agri & Allied Products

Machinery Transport Equipments Others

109

165

75

58

52

32

40

36

39

31

32

25

27

22

22

13

64

68

Petroleum Products Gems & Jewellery Electronics Items

Chemicals Machinery Ores & Minerals

Base Metals Agri & Allied Products Others

9

External Debt vis-à-vis External Reserves

(1) ‘Volatile Capital Flows’ is defined to include cumulative portfolio inflows and short-term debt (RBI). For FY18, Volatile Capital Flow data pertains to end-Jun’18; (2) Volatile Capital Flows to Reserves ratio peaked at 97.4% in September 2013; (3) Source: RBI/Ministry of Finance, Government of India; [3] Source: https://data.worldbank.org/indicator/FI.RES.TOTL.CD?view=chart&year_high_desc=true accessed on 30/01/2019.

External Debt 409.4 446.2 474.7 485.0 471.3 529.7 510.4

External Reserves 292.0 304.2 341.6 360.2 370.0 424.5 400.5

External Debt External Reserves

34%

24%

17%

14%

6% 4%

38%

19%

24%

11%5%

2% CommercialBorrowingsShort Term

Non Resident

Multilateral

Bilateral

Trade Credit

89%

9%

2%

94%

5%1%

ForeignCurrencyAssetsGold

SDRs /ReserveTranche

FY 18

(US$ bn)

FY 18 FY 13FY 13

India has the 7th largest total reserves in the world[3]

71.3% 68.2% 72.0% 74.3% 78.5% 80.1% 78.5%63.4% 61.9%

66.8% 69.3% 73.5% 75.4%73.7%

94.3% 90.4% 92.3% 87.0% 85.8% 86.9% 86.2%

268.6%301.4%

371.1%403.1% 393.1% 390.8%

360.7%

FY13 FY14 FY15 FY16 FY17 FY 18 FY 19 (Apr-Sep)

External Reserves :External Debt

FC Assets : ExternalDebt

Volatile Capital Flows:External Reserves

FCA: Short-term debt

10

India’s Twin Balance Sheet Problem

Post Global Financial Crisis Resolution

Bad-Loan-Encumbered Banks

Pre Global Financial Crisis

Investment-GDP Ratio soared by 11% points to 38% in four years to FY08.

Expectations of sustained double digit growth by corporates.

In three years to FY09, bank credit doubled.

Indian companies aggressively acquired companies overseas (e.g.: TATA Steel’sacquisition of Corus Steel, Hindalco’s acquisition of Novelis Inc).

GNPA Ratio for Scheduled Commercial Banks (SCBs) soared from 2.3% as on March31, 2008, to 10.8% as on September 30, 2018. GNPA ratio for Public Sector Banks(PSBs) as on September 30, 2018 was 14.8%*.

SCB’s GNPA Ratio projected to decrease to 10.3% by March 2019 and that of PSBs isprojected to decline to 14.6%*.

Bunching of bad loan recognition due to previous regulatory forbearance.

Not a systemic failure - exogenous factors / delay in recognition.

Accommodative monetary policy tightened due to

rise in inflation:

o Repo rates increased from 4.75% in April 2009 to 8.50% in October 2011.

INR Depreciation added to the stress in FC debt servicing:

o USD/INR depreciated from 52.97 in February 2013 to 68.36 in August 2013.

In 2013, 33% of corporate debt was owed by companies with ICR < 1; increased toabove 40% in late 2016.

Capacity Utilization in Industry declined from 80.9% in Q3FY10 to 73.8% in Q1FY19.

Asset Quality Review (AQR).

Schemes - 5:25 Flexible Refinancing, Strategic Debt Restructuring (SDR), Scheme forSustainable Structuring of Stressed Assets (S4A) - withdrawn w.e.f. February 12,2018.

The Insolvency and Bankruptcy Code, 2016 (IBC).

Announcement of INR 2.11 tn capital infusion into PSBs, including re-capitalisationbonds of INR 1.35 tn (INR 820 bn capital already allocated to PSBs). In July, GOIinfused INR 113 bn in 5 banks (PNB, Allahabad Bank, Andhra Bank, IOB andCorporation Bank). INR 420 bn to be infused by March 2019.

Source: RBI Economic Survey 2016-17 & 2017-18, Bloomberg Database.* Financial Stability Report, RBI, December 2018; # Monetary Policy Report, RBI, October 2018

11

Economic, Institutional and Structural Reforms

Make in India.

Liberalisation of FDI-25 Focus Sectors.

Relaxed FDI Norms: 100% permitted in single-brand retail and construction development.

Aadhaar backed Direct Benefit Transfer (DBT).

The Real Estate (Regulation and Development) Act, 2016 (RERA).

The Insolvency and Bankruptcy Code, 2016 (IBC).

The Banking Regulation (Amendment) Act, 2017.

Constitution of Monetary Policy Committee (MPC) under the Monetary Policy Framework Agreement.

Currency Exchange (Demonetisation).

Goods and Service Tax (GST).

Bank Recapitalisation Bonds.

Targets set by N K Singh Committee on Fiscal Discipline:

o Debt-to-GDP ratio of 40% for Central Government, 20% for State Governments and fiscal deficit of 2.5% of GDP by FY23.

India jumped up 23 notches to the 77th position from 100 during 2017-18 on the World Bank’s ‘Ease of Doing Business’ Index 2019:

o Among the top 10 performers consecutively for the second year

o India decreased border and documentary compliance time for both exports and imports

Moody's upgrades India's Government bond rating to Baa2(stable) from Baa3(positive):

o Based on the reforms carried out, India’s structural credit strength and global competitiveness have improved.

12

Highlights of Interim Budget 2019-20

Fiscal Prudenceo Fiscal deficit for 2019-20 projected at 3.4% of GDPo Acceptance of key recommendations by the FRBM Committee to bring down the Central Government’s Debt to GDP ratio to 40% and to

use Fiscal Deficit target as key operational parametero GoI to focus on debt consolidation along with completion of fiscal deficit consolidation programme by bringing down debt to GDP ratio to

40% by 2024-25. India’s Debt to GDP ratio was at 46.5% in 2017-18

MSMEo Up-to ` 1 crore loans could be availed in less than an houro GST registered SME units to get 2% of interest rebate on incremental loan of ` 1 croreo At least 3% of the 25% sourcing for the Government undertakings will be from women owned SMEso Renewed Focus on Internal trade ; DIPP renamed to Department for Promotion of Industries and Internal Trade

Infrastructureo Pradhan Mantri Gram Sadak Yojana (PMGSY) has been allocated ` 19,000 crore in BE 2019-20 as against ` 15,500 crore in RE 2018-19o Number of operational airports crossed 100 under the civil aviation UDAAN scheme connecting North East as wello India emerged as the fastest highway developer with 27Kms of highways built everydayo Introduce container cargo movement to the North East, by improving the navigation capacity of the Brahmaputra river

Financial sectoro Disinvestment target of ` 90,000 crore has been set for 2019-20o The Fugitive Economic Offenders Act, 2018 to help confiscate economic offenders

13

Economic, Institutional and Structural Reforms

Agriculture, Rural Development & Unorganised Sectoro Under the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) 12 crore small and marginal farmers to be provided with assured yearly

income of ` 6000. Outlay of ` 75,000 crore for FY 2019-20 with additional ` 20,000 crore in RE 2018-19 provided in the budget.o Department of Fisheries to be established; 2% interest subvention to farmers for animal husbandry and fisheries activities; additional 3%

in case of timely repayment.o 'Pradhan Mantri Shram-Yogi Maandhan’ scheme to ensure fixed monthly pension for the unorganised sector workers with monthly

income upto ` 15,000.

ICTo Around 1 lakh villages to be converted to Digital Villages over next five yearso Under Make in India, mobile and parts manufacturing companies increased from 2 to more than 268 providing huge job opportunities

Customso Customs duties on 36 capital goods abolishedo Digitization of import and export transactionso Radio-Frequency Identification (RFID) technology to improve logistics

Educationo National Education Mission allocation increased by about 20% from `32,334 crore to ` 38,572 crore in BE 2019-20

14

The Exim Story

15

Bank : India’s Export Credit Agency

Vision

Genesis

“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

Objectives

“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”

16

Bank: Proxy to Sovereign

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

100% owned by Government of India (“GoI”)

o Cannot be liquidated without GoI approval

o A track record of GoI capital infusion

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 and Industry and External Affairs) and Reserve Bankof India.

Guarantees are provided by GoI for Lines of Credit extended byExim which are on behalf of and supported by the GoI.

Insurance cover provided by NEIA* for assistance under Buyer’sCredit - NEIA.

Ongoing Government Support

100% owned by GoI

Directors Appointed by

GoI

Proxy to India

Sovereign in International Debt Markets

Guarantees on GoI Lines

of Credit

100% owned by GoI

Directors Appointed by

GoI

Proxy to India

Sovereign in International Debt Markets

Guarantees on GoI Lines

of Credit

Policy Bank

Insurance on Buyers Credit

– NEIA Portfolio

* National Export Insurance Account

17

Bank: Capital Infusion / Proxy to Sovereign

Government Capital Injection

o Continued GoI support evidenced by capital infusiono Budget allocation of INR 5 bn for FY 19 from GoI towards capital, received in

July 2018o In January 2019, Union Cabinet approved infusion of Recap Bonds of INR 60

bn of which an amount of INR 45 bn would be during the current financialyear 2018-19.

o The same has been included in the Vote on Account for Expenditure of theCentral Government 2019-20, Notes on Demands for Grants, 2019-20 asfollows: For 2018-19 : Recap Bond of INR 45 bn For 2019-20 : INR 15 bn [INR 9.50 bn as Capital and INR 5.50 bn as

Recap Bonds]

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

International Rating is Baa2 (Stable)

International Rating is BBB- (Stable)

International Rating is BBB- (Stable)

Domestic Rating is AAA (Stable)

Domestic Rating is AAA (Stable)

Domestic Rating is AAA (Stable)

International Rating is BBB+ (Stable)

18

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

Loan Portfolio[1][4] Non-Funded Portfolio[1]

Country Exposure[1][2][4]

INR 1019 bn

[1]: As on December 31, 2018; [2] Excluding India; [3] Classification of Net Loans outstanding on the basis of associated Risk; [4] Exposures value of less than 1% are excluded

INR 165 bn

Risk Exposure[1][3]

Asset Quality

Non Performing Loans(2) (3)Gross Loans outstanding by Major Industries(1) (2)(4)

Current NPL primarily due to downgrade of the restructured legacy assets and RBI circular on revision of extantinstructions on resolution of stressed assets.

NPLs are essentially recognition of watchlist assets.

49% of the Incremental NPLs during FY18 were due to revision of instruction by RBI on resolution of stressed assets.

Credit watchlist of INR 37.46 bn for FY19 including Videocon Group Companies (60.67% of the credit watchlist). INR26.17 bn NPAs already recognized till December 31, 2018.

Current credit watchlist of INR 11.81 bn including IL&FS Group (INR 4.30 bn).

Solvency ratio for the Bank is 2.74 times as on December 31, 2018.

As per RBI guidelines the PCR (6) is 77.62% (2)

Particulars INR bn %

As per IRAC(7) Norms 20.72 50.63%

Additional NPAs in compliance with RBI Circular dated Feb 12, 2018

20.20 49.37%

Total 40.92 100.00%

Incremental Non Performing Loans(5)

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 December 31, 2018; [3] Excludes restructured standard Loans; [4] Others includes industries with exposure less than 1% of the Gross Loan Outstanding; [5] During FY 2017-18; [6] PCR: Provision Coverage Ratio; [7] Income Recognition and Asset Classification Norms of RBI.

% of Total Loan outstanding NPLs as % of Total GNPLs

19

20

Analysis of NPAs

Program wise Major Non Performing Loans(1)Reason for Slippage of GNPAs(1)

Note: [1] As on December 31, 2018; [2] NPAs as % of Gross NPAs of the Bank; [3] NPAs under the program as % of Gross Loans Outstanding under the Program.* Includes Loans to Export Oriented Units (EOUs)

ParticularsNo. of

Accounts% of

GNPAs[2]

Industry Downturn 44 62.00

Impact of Global Economic Crisis 26 12.31

Liquidity Issues 15 11.17

Project Cost and Time Overrun 9 12.37

Fraud 4 1.63

Marketing Problems 4 0.50

Management Issues 2 0.02

Total 104 100.00

Lending Program% of Total

NPAs[2]

NPAs as % of Gross Loans[3]

Overseas Investment Finance 40.06% 5.06%

Term Loan to Exporters* 30.28% 3.82%

Export Finance 20.13% 2.54%

Import Finance 9.50% 1.20%

Export Facilitation 0.03% 0.01%

Total 100.00 12.63

21

Insolvency and Bankruptcy Code: Faster NPL Resolution

# National Company Law Tribunal;[1] As on December 31, 2018; [2] Corporates under NCLT which are Guarantor to the Loans extended by Exim Bank

Key Highlights

38 large defaulters identified by RBI over 2 lists.

Maximum time for resolution is 270 days under the Act.

On admission to NCLT#, resolution professional replaces existing management.

Existing management accountable for suspect transactions in the previousthree years.

Upfront provisioning norms set out for banks on admission to NCLT.

‘Willful defaulters‘ excluded from bidding.

What does it mean for Lenders?

Shift to ‘creditor in control’.

Process can be initiated by any creditor.

Short resolution time.

Minority dissenting financial creditors to be paid pro-rata liquidation value.

Clear priority of distribution (waterfall) upon liquidation; Government duessubservient to secured creditors and unsecured financial creditors.

Regulatory and Policy Thrust

• Exim Bank has 77% provision for its portfolio under NCLT.

• In the current FY, the Bank has recovered INR 10.87 bn from theaccounts under NCLT.

• Strengthened the Specialised Group handling stressed loans andrecoveries.

• Status of stressed loans and recoveries monitored by the AuditCommittee (a sub-committee of the Board), every quarter.

Exim’s Loan Accounts under Exposure to NCLT[1]

OutstandingProvision

(%)

Net Book Value

Expected Recovery

(A) Exim Loans 44.38 79% 9.42 9.74

(B) Guarantors for Exim Loans[2] 33.99 74% 8.81 1.93

Total 78.37 77% 18.23 11.67

INR bn

22

Financial Highlights

Capital Strength

Profitability

Total Assets, Loans and Advances(1)

[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 loans (NPLs).

23

Profitability Analysis

Analysis of Operating Profit for FY 2017-18

Particulars Actuals Anticipated[1]

Normal Operating Profit 21,907 21,907

Less: Interest Income Reversal on account of NPAs

1,378 1,346

Less: Interest Income of LOCs not booked due to overdues past 90 days

1,217 1,217

Operating Profit for FY 2017-18 19,311 19,344

Provision for Contingencies 61,610 37,374

Profit / (Loss) Before Tax (42,298) (18,031)

Provision for Tax 1,646 1,657

Deferred Tax (14,707) (6,320)

Total Provision for Tax (Net of DTA) (13,061) (4,662)

Profit / (Loss) After Tax (29,237) (13,368)

Particulars Actuals Anticipated[1]

Less: Aging Provision for NPAs 10,625 10,624

Less: Provision for Incremental NPAs in “ Normal Course”

8,474 8,474

Less: Provision for Incremental NPAs on account of RBI’s circular dated February 12, 2018

3,234 -

Less: Incremental provisions on account of NCLT 2,703 -

Less: Provision for Videocon accounts 17,044 -

Less: Provision for Gitanjali accounts 1,804 451

Less: Provision for Standard Assets -2,310 -2,209

Less: Provision for SRs 3,113 3,113

Less: Provision for depreciation on GOI-Secs 1,116 1,116

Less: Provision on other investments 1,350 1,350

Less: Bad Debts 14,456 14,456

Total: Provision for Contingencies 61,610 37,374

Breakup of Provisions

[1]: As anticipated prior to RBI circular dated February 12, 2018, on revision of extant instructions on resolution of stressed assets

INR mn INR mn

24

Asset Liability Management

Total Resources/ Loans[1]Asset Liability Gaps[1]

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 25 issuances since 2004 under the MTN including 4 Uridashi and 2 144A issuances. 4 Samurai issuancessince February 2006.

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

Total Resources Total Loans and Deposits

[1] As on December 31, 2018

25

Issuances in International Debt Markets

Upto March 2009 | FY 2009-10 | 2010-11 | 2011-12 | 2012-13 | 2013-14 | 2014-15 | 2015-16 | 2016-17 | 2017-18

•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

Samurai Issuance; Uridashi Issuance; 144A Issuance

•USD 150 mn Reg-s

•USD 300 mn Reg-s

•USD 200 mn Reg-s

• JPY 15 bn Reg-s

• JPY 20 bn Samurai

•USD 110 mn Reg-s

•CHF 190 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

•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• JPY 20 bn Samurai•USD 500 mn Reg-s

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

•USD 500 mn Reg-s

•USD 1 bn 144A / Reg-S

•USD 400 mn Reg-s (Formosa)

•USD 1 bn 144A / Reg-s

26

Exim Bank - Board of Directors

Directors representing Ministries of Finance, Commerce and External Affairs

Directors representing major Indian Public Sector Banks

Director representing regulator - RBI

Director representing India’s Export Credit Insurance Company Whole Time Directors

Bidyut Behari Swain

Additional Secretary, Department of Commerce, Ministry of Commerce and Industry

Pankaj Jain

Joint Secretary, Department of Financial Services, Ministry of Finance

Ramesh Abhishek

Secretary, Department of Industrial Policy and Promotion, Ministry of Commerce and Industry

Michael Debabrata Patra

Executive Director, Reserve Bank of India

Geetha Muralidhar

Chairman-cum- Managing Director, ECGC Ltd.

T.S. Tirumurti

Secretary (Economic Relations), Ministry of External Affairs

Rajnish Kumar

Chairman, State Bank of India

Dinabandhu Mohapatra

Managing Director and CEO, Bank of India

Debasish Mallick

Deputy Managing Director

David Rasquinha

Managing Director

Kalyanaraman Rajaraman

Additional Secretary (Investment), Department of Economic Affairs, Ministry of Finance

Rajkiran Rai Gundyadka

Managing Director and CEO, Union Bank of India

Rakesh Sharma

Managing Director and CEO, IDBI Bank

27

Exim Bank - Senior Management

Highly Experienced Management Team with Government of India (GoI) Sponsorship

Mr. David Rasquinha, Managing Director

Mr. David Rasquinha has been appointed by GoI as Managing Director of Exim since August 2017.

He has been with Exim since 1985 and prior to his current role he has held post of Deputy Managing Director. He has handled a wide range offunctions including Lines of Credit and Trade Finance and was Representative at Exim’s Washington DC Rep Office from 1999–2004.

Mr. Rasquinha holds a first class graduate degree in Economics from Mumbai University and a post graduate qualification in Business Managementfrom the XLRI, Jamshedpur.

Mr. Debasish Mallick, Deputy Managing Director

Mr. Debasish Mallick has been appointed by GoI as Deputy Managing Director of Exim since July 2014.

Mr. Mallick was the Managing Director and CEO of IDBI Asset Management Company Ltd and has nearly three decades of experience in the Bankingindustry. He has vast experience in the areas of Corporate Banking, International Banking, Resource Mobilisation and Treasury, among others.

He holds a post-graduate degree in Economics and is a Certified Associate of Indian Institute of Bankers.

28

Exim Bank - Institutionalised Risk Management Culture

Officer of the rank of Chief General Manager designated as Chief Risk Officer for credit, market and operational risks.

Tasked with risk management of the Bank’s business processes and driving the Bank’s risk management strategy.Risk Management Group

Chaired by Deputy Managing Director and comprises Group Heads and senior officers of Business Groups, Treasury and AccountsGroup, and the Chief Risk Officer.

Addresses issues of asset-liability management, interest rate and exchange rate risks, liquidity risk, etc.

Chaired by Deputy Managing Director and comprises Group Heads and senior officers of Business Groups, Treasury and AccountsGroup, and the Chief Risk Officer.

Addresses rating and pricing standards, prudential limits on various exposure categories (country, sector, single and groupborrower and unsecured exposures, program-wise exposures etc.), sector-wise outlook, etc.

Chaired by Deputy Managing Director and comprises senior executives who do not have direct line responsibilities and the ChiefRisk Officer.

Reviews the Bank’s risk overall profile, risk concentrations, operational risk, compliance with prudential limits and overseeing theoperations of CRMC and ALCO.

Reviews the Bank’s risk management policies, investment policies and strategy, and regulatory and compliance issues in relationthereto.

Chaired by Deputy Managing Director and comprises of directors appointed on to the Board by the respective institutions (IDBI,ECGC) and the Central Government and the Chief Risk Officer as a permanent invitee.

Responsible for implementing the Integrated Risk Management Policy of the Bank, monitoring adherence to various regulatoryand internal risk limits developing policies and procedures for integration of various risks at the Bank level, and review of allpolicies related to the Bank’s business.

Asset-Liability Management Committee

(ALCO)

Credit Risk Management Committee

(CRMC)

Integrated Risk Management Committee

Risk Management Committee

(RMC)

29

Appendix

Financial Highlights

30

Figures in INR mn FY14 FY15 FY16 FY17 FY18 9MFY19

Cash and Bank Balance 51,241 45,119 54,438 36,909 28,155 23,032

Investments 39,163 49,820 53,555 51,029 56,969 52,101

Loans and Advances(1) 745,983 849,100 991,168 1,026,410 1,075,321 925,545

Fixed Assets 807 1,041 1,002 1,298 1,259 2,298

Other Assets 34,296 39,169 52,015 56,427 73,486 74,439

Total Assets 871,490 984,249 1,152,178 1,172,074 1,235,190 1,077,415

Paid up Capital & Reserves(2) 83,097 99,026 114,868 120,239 96,002 101,002

Deposits 23,728 20,145 20,958 3,726 2,861 2,632

Notes, Bonds and Debentures 548,868 654,814 758,416 806,930 865,817 736,604

Borrowings 142,225 112,146 153,792 150,073 172,973 137,179

Profit and Loss Account 73,572 98,118 316 41 - 852

Other Liabilities & Provisions 871,490 984,249 103,828 91,065 97,537 99,146

Total Liabilities 83,097 99,026 1,152,178 1,172,074 1,235,190 1,077,415

Note: (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 loans (NPLs). ; (2) Includes paid-up capital and reserves.

Balance Sheet

Financial Highlights

Figures in INR mn FY14 FY15 FY16 FY17 FY18 9MFY19

Interest Earned 68,464 71,479 82,938 84,411 82,384 66,202

Interest Expended 46,840 53,355 60,221 65,022 65,863 52,177

Net Interest Income 21,624 18,124 22,717 19,389 16,521 14,025

Non-Interest Income 4,301 4,728 4,873 7,942 5,399 2,736

Operating Income 25,925 22,852 27,590 27,331 21,920 16,761

Non-interest Expense 1,826 2,109 2,292 2,525 2,608 2,011

Provisions and Contingencies 17,001 13,484 22,140 21,680 61,610 11,536

Net Profit 7,098 7,259 3,158 412 (29,237) 852

Profit and Loss Summary

Key Ratios

FY14 FY15 FY16 FY17 FY18 9MFY19

Net Interest Margin 2.67% 1.97% 2.17% 1.70% 1.41% 1.53%

Gross NPA 2.10% 2.94% 4.17% 9.24% 10.37% 12.63%

Net NPA 0.43% 0.60% 0.86% 4.68% 3.75% 3.79%

ROAA 0.85% 0.79% 0.29% 0.04% -ve 0.10%

ROAE 9.24% 7.89% 2.93% 0.62% -ve 1.49%

CRAR 14.32% 15.34% 14.55% 15.81% 10.35% 12.31%

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