Banks

India

Export-Import Bank of India (EXIM)

Update

Ratings Key Rating Drivers

Foreign Currency
Ratings Based on Sovereign Support: The Export-Import Bank of India (EXIM)’s ratings are
Long-Term IDR BBB−
Short-Term IDR F3 based on its policy role of financing, facilitating and promoting foreign trade, and its close
Support Rating 2
Support Rating Floor BBB−
integration with the government of India (GoI). Established under an Act of Parliament, the
bank is owned – and its board is controlled – by the sovereign. The importance of EXIM’s
Sovereign Risk policy role and close integration with the sovereign is therefore expected to result in a high
Long-Term Foreign-Currency IDR BBB− probability of government support if ever required.
Long-Term Local-Currency IDR BBB−
Government’s Agency Role: In addition, EXIM also acts on behalf of the government in
Outlooks extending lines of credit to mainly developing economies. Exposure under this segment forms
Long-Term Foreign-Currency IDR Negative a growing proportion of EXIM’s balance sheet, and is almost entirely guaranteed by the
Sovereign Long-Term Foreign- Negative government.
Currency IDR
Sovereign Long-Term Local- Negative
Currency IDR
Consistent Historical Support: The GoI has historically supported EXIM by way of capital
injections, funding access (ability to issue government-guaranteed bonds) and liquidity
Financial Data provision (special limits provided by RBI in 2008 and 2011). Fitch Ratings expects the
Export-Import Bank of India (EXIM) continuing importance of the EXIM’s role in implementing government’s policies in the field of
31 Mar 31 Mar foreign trade to ensure that it is well supported in the future.
12 11
Total assets (USDm) 12,445.9 12,262.2
Total assets (INRbn) 636.7 547.5
Quasi-Sovereign Status: Access to funding, both domestic and international, is greatly
Total equity (INRbn) 62.1 54.1 enhanced by EXIM’s quasi sovereign status and helps partly mitigate the pressures arising
Net income (INRbn) 6.8 5.8
ROA (%) 1.14 1.14 from its reliance on wholesale funding. While Fitch notes the growing potential liquidity risk
ROE (%) 11.62 11.75 emanating from its “Lines of Credit” (LoC) book, which are longer tenured as compared to its
Capital adequacy (%) 16.44 17.04
liability structure, the well matched ALM profile coupled with access to liquidity lines from the
RBI, limits this risk.

Good Risk Systems: Fitch expects EXIM’s asset quality to come under pressure but to remain
at comfortable levels. EXIM’s loans are made to clients who operate in the export sector, and
are prone to deterioration from weakness in this segment. However, this is partly mitigated by
the sound quality of its non LoC/ non-bank refinance loan portfolio (median rating of “A”) and
the highly secured nature of its loan book (100% secured).

Below system average NPL levels (even after adjusting for LoC and bank refinance book)
highlights the quality of EXIMs risk management systems. Sound capitalization levels (CAR
16.44%) and modest profitability profile, further provides cushion against any losses.

Modest Profitability: Fitch expects EXIM’s moderate profitability (RoAA: 1.14%) to come
under pressure. The bank’s interest-income-led earnings profile (NIM 2.18%) is likely to
experience NIM compressions as the comparatively lower-margin LoC business grows to form
a larger proportion of its asset base. However, its earnings profile continues to be well-
supported by its strong efficiency levels (cost/income ratio: 5.21%) – largely a function of the
nature of its lending.
Analysts
Ambreesh Srivastava What Could Trigger a Rating Action
+65 6796 7218
ambreesh.srivastava@fitchratings.com Changes to Sovereign Rating: EXIM’s ratings and Outlook are aligned to that of the
Jobin Jacob sovereign. Any changes to the latter would lead to a change in EXIM’s ratings/Outlook.
+91 22 4000 1773
jobin.jacob@fitchratings.com
Furthermore, any perceived or evident weakness in EXIM’s linkage with the government could
also lead to rating changes, although Fitch views this as highly unlikely.
Saswata Guha
+91 22 4000 1741
saswata.guha@fitchratings.com

www.fitchratings.com 12 September 2012

 Banks

Export-Import Bank of India (EXIM)

Income Statement
31 Mar 2012 31 Mar 2011 31 Mar 2010 31 Mar 2009
Year End Year End As % of Year End As % of Year End As % of Year End As % of
USDm INRm Earning INRm Earning INRm Earning INRm Earning
Unqualified Unqualified Assets Unqualified Assets Unqualified Assets Unqualified Assets

1. Interest Income on Loans 654.0 33,460.6 5.50 25,963.2 5.02 21,737.7 4.89 25,227.1 6.16
2. Other Interest Income 167.3 8,558.4 1.41 7,217.9 1.39 6,823.1 1.54 6,038.1 1.48
3. Dividend Income n.a. n.a. - 0.0 0.00 0.0 0.00 0.0 0.00
4. Gross Interest and Dividend Income 821.3 42,019.0 6.91 33,181.1 6.41 28,560.8 6.43 31,265.2 7.64
5. Interest Expense on Customer Deposits n.a. n.a. - n.a. - n.a. - n.a. -
6. Other Interest Expense 581.9 29,771.4 4.89 23,510.3 4.54 20,944.9 4.71 24,384.5 5.96
7. Total Interest Expense 581.9 29,771.4 4.89 23,510.3 4.54 20,944.9 4.71 24,384.5 5.96
8. Net Interest Income 239.4 12,247.6 2.01 9,670.8 1.87 7,615.9 1.71 6,880.7 1.68
9. Net Gains (Losses) on Trading and Derivatives 28.4 1,455.1 0.24 943.8 0.18 313.2 0.07 1,608.9 0.39
10. Net Gains (Losses) on Other Securities n.a. n.a. - n.a. - n.a. - n.a. -
11. Net Gains (Losses) on Assets at FV through Income Statement n.a. n.a. - n.a. - n.a. - n.a. -
12. Net Insurance Income 0.0 0.0 0.00 0.0 0.00 0.0 0.00 0.0 0.00
13. Net Fees and Commissions 39.7 2,030.9 0.33 1,360.8 0.26 639.8 0.14 969.4 0.24
14. Other Operating Income 0.3 12.8 0.00 13.4 0.00 11.6 0.00 649.3 0.16
15. Total Non-Interest Operating Income 68.4 3,498.8 0.57 2,318.0 0.45 964.6 0.22 3,227.6 0.79
16. Personnel Expenses 4.6 237.5 0.04 265.9 0.05 176.2 0.04 123.0 0.03
17. Other Operating Expenses 11.4 583.0 0.10 505.4 0.10 465.1 0.10 447.7 0.11
18. Total Non-Interest Expenses 16.0 820.5 0.13 771.3 0.15 641.3 0.14 570.7 0.14
19. Equity-accounted Profit/ Loss - Operating 0.0 0.0 0.00 0.0 0.00 0.0 0.00 0.0 0.00
20. Pre-Impairment Operating Profit 291.7 14,925.9 2.45 11,217.5 2.17 7,939.2 1.79 9,537.6 2.33
21. Loan Impairment Charge 77.9 3,987.8 0.66 2,222.2 0.43 188.4 0.04 760.0 0.19
22. Securities and Other Credit Impairment Charges 15.9 811.8 0.13 318.4 0.06 27.5 0.01 2,677.2 0.65
23. Operating Profit 197.9 10,126.3 1.66 8,676.9 1.68 7,723.3 1.74 6,100.4 1.49
24. Equity-accounted Profit/ Loss - Non-operating n.a. n.a. - 0.0 0.00 0.0 0.00 0.0 0.00
25. Non-recurring Income n.a. n.a. - 0.0 0.00 0.8 0.00 0.9 0.00
26. Non-recurring Expense n.a. n.a. - 0.0 0.00 0.0 0.00 0.0 0.00
27. Change in Fair Value of Own Debt n.a. n.a. - 0.0 0.00 0.0 0.00 0.0 0.00
28. Other Non-operating Income and Expenses n.a. n.a. - 0.0 0.00 0.0 0.00 0.0 0.00
29. Pre-tax Profit 197.9 10,126.3 1.66 8,676.9 1.68 7,724.1 1.74 6,101.3 1.49
30. Tax expense 66.0 3,375.3 0.55 2,840.9 0.55 2,589.0 0.58 1,327.2 0.32
31. Profit/Loss from Discontinued Operations 0.0 0.0 0.00 0.0 0.00 0.0 0.00 0.0 0.00
32. Net Income 132.0 6,751.0 1.11 5,836.0 1.13 5,135.1 1.16 4,774.1 1.17
33. Change in Value of AFS Investments 0.0 0.0 0.00 0.0 0.00 0.0 0.00 0.0 0.00
34. Revaluation of Fixed Assets 0.0 0.0 0.00 0.0 0.00 0.0 0.00 0.0 0.00
35. Currency Translation Differences n.a. n.a. - n.a. - n.a. - n.a. -
36. Remaining OCI Gains/(losses) n.a. n.a. - n.a. - n.a. - n.a. -
37. Fitch Comprehensive Income 132.0 6,751.0 1.11 5,836.0 1.13 5,135.1 1.16 4,774.1 1.17
38. Memo: Profit Allocation to Non-controlling Interests 0.0 0.0 0.00 0.0 0.00 0.0 0.00 0.0 0.00
39. Memo: Net Income after Allocation to Non-controlling Interests 132.0 6,751.0 1.11 5,836.0 1.13 5,135.1 1.16 4,774.1 1.17
40. Memo: Common Dividends Relating to the Period 40.1 2,050.0 0.34 1,850.0 0.36 1,500.0 0.34 1,160.0 0.28
41. Memo: Preferred Dividends Related to the Period 0.0 0.0 0.00 0.0 0.00 0.0 0.00 0.0 0.00

Exchange rate USD1 = INR51.16000 USD1 = INR44.65000 USD1 = INR45.13500 USD1 = INR50.94500

Related Criteria
Global Financial Institutions Rating Criteria
(Aug 2012)

Export-Import Bank of India (EXIM) 2

September 2012
 Banks

Export-Import Bank of India (EXIM)

Balance Sheet
31 Mar 2012 31 Mar 2011 31 Mar 2010 31 Mar 2009
Year End Year End As % of Year End As % of Year End As % of Year End As % of
USDm INRm Assets INRm Assets INRm Assets INRm Assets
Assets
A. Loans
1. Residential Mortgage Loans n.a. n.a. - 0.0 0.00 0.0 0.00 0.0 0.00
2. Other Mortgage Loans n.a. n.a. - 0.0 0.00 0.0 0.00 0.0 0.00
3. Other Consumer/ Retail Loans n.a. n.a. - 0.0 0.00 0.0 0.00 0.0 0.00
4. Corporate & Commercial Loans 8,047.0 411,683.2 64.66 219,010.4 40.00 190,860.4 40.55 181,094.8 40.97
5. Other Loans 2,611.7 133,614.6 20.98 241,397.6 44.09 202,846.4 43.09 163,959.7 37.09
6. Less: Reserves for Impaired Loans/ NPLs 125.1 6,400.0 1.01 3,850.0 0.70 3,350.0 0.71 3,490.0 0.79
7. Net Loans 10,533.6 538,897.8 84.64 456,558.0 83.39 390,356.8 82.93 341,564.5 77.27
8. Gross Loans 10,658.7 545,297.8 85.64 460,408.0 84.09 393,706.8 83.64 345,054.5 78.06
9. Memo: Impaired Loans included above 155.6 7,960.0 1.25 4,780.0 0.87 4,132.0 0.88 4,280.0 0.97
10. Memo: Loans at Fair Value included above n.a. n.a. - n.a. - n.a. - 0.0 0.00
B. Other Earning Assets
1. Loans and Advances to Banks 733.3 37,514.4 5.89 32,648.0 5.96 30,424.8 6.46 46,045.2 10.42
2. Reverse Repos and Cash Collateral n.a. n.a. - n.a. - n.a. - n.a. -
3. Trading Securities and at FV through Income n.a. n.a. - n.a. - n.a. - n.a. -
4. Derivatives n.a. n.a. - n.a. - n.a. - n.a. -
5. Available for Sale Securities n.a. n.a. - n.a. - n.a. - n.a. -
6. Held to Maturity Securities n.a. n.a. - n.a. - n.a. - n.a. -
7. At-equity Investments in Associates n.a. n.a. - n.a. - n.a. - n.a. -
8. Other Securities 627.8 32,117.2 5.04 28,255.6 5.16 23,610.2 5.02 21,609.7 4.89
9. Total Securities 627.8 32,117.2 5.04 28,255.6 5.16 23,610.2 5.02 21,609.7 4.89
10. Memo: Government Securities included Above 354.5 18,136.9 2.85 12,450.1 2.27 11,371.2 2.42 7,868.4 1.78
11. Memo: Total Securities Pledged n.a. n.a. - n.a. - n.a. - n.a. -
12. Investments in Property n.a. n.a. - n.a. - n.a. - n.a. -
13. Insurance Assets 0.0 0.0 0.00 0.0 0.00 0.0 0.00 0.0 0.00
14. Other Earning Assets 0.0 0.0 0.00 0.0 0.00 0.0 0.00 0.0 0.00
15. Total Earning Assets 11,894.6 608,529.4 95.57 517,461.6 94.51 444,391.8 94.41 409,219.4 92.58
C. Non-Earning Assets
1. Cash and Due From Banks 15.3 782.3 0.12 693.6 0.13 328.9 0.07 111.7 0.03
2. Memo: Mandatory Reserves included above 0.0 0.0 0.00 0.0 0.00 0.0 0.00 0.0 0.00
3. Foreclosed Real Estate n.a. n.a. - n.a. - n.a. - n.a. -
4. Fixed Assets 17.8 909.8 0.14 859.9 0.16 907.6 0.19 884.5 0.20
5. Goodwill 0.0 0.0 0.00 0.0 0.00 0.0 0.00 0.0 0.00
6. Other Intangibles 0.0 0.0 0.00 0.0 0.00 0.0 0.00 0.0 0.00
7. Current Tax Assets 92.6 4,739.7 0.74 3,585.1 0.65 2,957.8 0.63 11,294.8 2.56
8. Deferred Tax Assets 28.5 1,458.8 0.23 570.9 0.10 307.5 0.07 495.7 0.11
9. Discontinued Operations n.a. n.a. - 0.0 0.00 0.0 0.00 0.0 0.00
10. Other Assets 397.0 20,309.8 3.19 24,336.5 4.44 21,821.2 4.64 20,011.0 4.53
11. Total Assets 12,445.9 636,729.8 100.00 547,507.6 100.00 470,714.8 100.00 442,017.1 100.00
Liabilities and Equity
D. Interest-Bearing Liabilities
1. Customer Deposits - Current n.a. n.a. - 0.0 0.00 0.0 0.00 0.0 0.00
2. Customer Deposits - Savings n.a. n.a. - 0.0 0.00 0.0 0.00 0.0 0.00
3. Customer Deposits - Term 617.0 31,566.1 4.96 32,410.0 5.92 29,382.7 6.24 28,190.9 6.38
4. Total Customer Deposits 617.0 31,566.1 4.96 32,410.0 5.92 29,382.7 6.24 28,190.9 6.38
5. Deposits from Banks n.a. n.a. - n.a. - n.a. - n.a. -
6. Repos and Cash Collateral n.a. n.a. - n.a. - n.a. - n.a. -
7. Other Deposits and Short-term Borrowings 3,592.0 183,768.1 28.86 167,467.6 30.59 132,810.9 28.21 128,045.7 28.97
8. Total Deposits, Money Market and Short-term Funding 4,209.0 215,334.2 33.82 199,877.6 36.51 162,193.6 34.46 156,236.6 35.35
9. Senior Debt Maturing after 1 Year 6,364.8 325,621.5 51.14 266,449.9 48.67 237,303.7 50.41 210,196.3 47.55
10. Subordinated Borrowing n.a. n.a. - n.a. - n.a. - n.a. -
11. Other Funding n.a. n.a. - n.a. - 0.0 0.00 0.0 0.00
12. Total Long Term Funding 6,364.8 325,621.5 51.14 266,449.9 48.67 237,303.7 50.41 210,196.3 47.55
13. Derivatives n.a. n.a. - n.a. - n.a. - n.a. -
14. Trading Liabilities n.a. n.a. - n.a. - n.a. - n.a. -
15. Total Funding 10,573.8 540,955.7 84.96 466,327.5 85.17 399,497.3 84.87 366,432.9 82.90
E. Non-Interest Bearing Liabilities
1. Fair Value Portion of Debt n.a. n.a. - n.a. - n.a. - n.a. -
2. Credit impairment reserves n.a. n.a. - n.a. - 3,350.0 0.71 3,490.0 0.79
3. Reserves for Pensions and Other n.a. n.a. - n.a. - n.a. - n.a. -
4. Current Tax Liabilities n.a. n.a. - n.a. - n.a. - n.a. -
5. Deferred Tax Liabilities n.a. n.a. - n.a. - n.a. - n.a. -
6. Other Deferred Liabilities n.a. n.a. - n.a. - n.a. - n.a. -
7. Discontinued Operations n.a. n.a. - n.a. - n.a. - n.a. -
8. Insurance Liabilities n.a. n.a. - n.a. - n.a. - n.a. -
9. Other Liabilities 549.9 28,131.5 4.42 21,438.5 3.92 15,461.7 3.28 26,666.3 6.03
10. Total Liabilities 11,123.7 569,087.2 89.38 487,766.0 89.09 418,309.0 88.87 396,589.2 89.72
F. Hybrid Capital
1. Pref. Shares and Hybrid Capital accounted for as Debt 109.3 5,590.0 0.88 5,590.0 1.02 5,590.0 1.19 5,590.0 1.26
2. Pref. Shares and Hybrid Capital accounted for as Equity 0.0 0.0 0.00 0.0 0.00 0.0 0.00 0.0 0.00
G. Equity
1. Common Equity 1,212.9 62,052.6 9.75 54,151.6 9.89 46,815.8 9.95 39,837.9 9.01
2. Non-controlling Interest n.a. n.a. - 0.0 0.00 0.0 0.00 0.0 0.00
3. Securities Revaluation Reserves n.a. n.a. - 0.0 0.00 0.0 0.00 0.0 0.00
4. Foreign Exchange Revaluation Reserves n.a. n.a. - n.a. - n.a. - n.a. -
5. Fixed Asset Revaluations and Other Accumulated OCI n.a. n.a. - 0.0 0.00 0.0 0.00 0.0 0.00
6. Total Equity 1,212.9 62,052.6 9.75 54,151.6 9.89 46,815.8 9.95 39,837.9 9.01
7. Total Liabilities and Equity 12,445.9 636,729.8 100.00 547,507.6 100.00 470,714.8 100.00 442,017.1 100.00
8. Memo: Fitch Core Capital 1,184.4 60,592.6 9.52 53,580.7 9.79 46,508.3 9.88 39,342.2 8.90
9. Memo: Fitch Eligible Capital 1,184.4 60,592.6 9.52 53,580.7 9.79 46,508.3 9.88 39,342.2 8.90

Exchange rate USD1 = INR51.16000 USD1 = INR44.65000 USD1 = INR45.13500 USD1 = INR50.94500

Export-Import Bank of India (EXIM) 3

September 2012
 Banks

Export-Import Bank of India (EXIM)

Summary Analytics
31 Mar 2012 31 Mar 2011 31 Mar 2010 31 Mar 2009
Year End Year End Year End Year End

A. Interest Ratios
1. Interest Income on Loans/ Average Gross Loans 6.65 6.20 5.88 7.93
2. Interest Expense on Customer Deposits/ Average Customer Deposits n.a. n.a. n.a. n.a.
3. Interest Income/ Average Earning Assets 7.46 7.15 6.69 8.58
4. Interest Expense/ Average Interest-bearing Liabilities 5.91 5.42 5.47 7.46
5. Net Interest Income/ Average Earning Assets 2.18 2.08 1.78 1.89
6. Net Int. Inc Less Loan Impairment Charges/ Av. Earning Assets 1.47 1.60 1.74 1.68
7. Net Interest Inc Less Preferred Stock Dividend/ Average Earning Assets 2.18 2.08 1.78 1.89
B. Other Operating Profitability Ratios
1. Non-Interest Income/ Gross Revenues 22.22 19.33 11.24 31.93
2. Non-Interest Expense/ Gross Revenues 5.21 6.43 7.47 5.65
3. Non-Interest Expense/ Average Assets 0.14 0.15 0.14 0.14
4. Pre-impairment Op. Profit/ Average Equity 25.69 22.58 18.32 26.16
5. Pre-impairment Op. Profit/ Average Total Assets 2.52 2.19 1.74 2.41
6. Loans and securities impairment charges/ Pre-impairment Op. Profit 32.16 22.65 2.72 36.04
7. Operating Profit/ Average Equity 17.43 17.47 17.83 16.73
8. Operating Profit/ Average Total Assets 1.71 1.70 1.69 1.54
9. Taxes/ Pre-tax Profit 33.33 32.74 33.52 21.75
10. Pre-Impairment Operating Profit / Risk Weighted Assets 3.61 3.17 2.84 3.43
11. Operating Profit / Risk Weighted Assets 2.45 2.45 2.76 2.19
C. Other Profitability Ratios
1. Net Income/ Average Total Equity 11.62 11.75 11.85 13.10
2. Net Income/ Average Total Assets 1.14 1.14 1.13 1.21
3. Fitch Comprehensive Income/ Average Total Equity 11.62 11.75 11.85 13.10
4. Fitch Comprehensive Income/ Average Total Assets 1.14 1.14 1.13 1.21
5. Net Income/ Av. Total Assets plus Av. Managed Securitized Assets 1.14 1.14 1.13 1.21
6. Net Income/ Risk Weighted Assets 1.63 1.65 1.83 1.72
7. Fitch Comprehensive Income/ Risk Weighted Assets 1.63 1.65 1.83 1.72
D. Capitalization
1. Fitch Core Capital/Weighted Risks 14.66 15.14 16.61 14.15
2. Fitch Eligible Capital/ Weighted Risks 14.66 15.14 16.61 14.15
3. Tangible Common Equity/ Tangible Assets 9.54 9.80 9.89 8.91
4. Tier 1 Regulatory Capital Ratio 14.57 15.11 16.94 14.79
5. Total Regulatory Capital Ratio 16.44 17.04 18.99 16.77
6. Core Tier 1 Regulatory Capital Ratio n.a. n.a. n.a. n.a.
7. Equity/ Total Assets 9.75 9.89 9.95 9.01
8. Cash Dividends Paid & Declared/ Net Income 30.37 31.70 29.21 24.30
9. Cash Dividend Paid & Declared/ Fitch Comprehensive Income 30.37 31.70 29.21 24.30
10. Cash Dividends & Share Repurchase/Net Income n.a. n.a. n.a. n.a.
11. Net Income - Cash Dividends/ Total Equity 7.58 7.36 7.76 9.07
E. Loan Quality
1. Growth of Total Assets 16.30 16.31 6.49 26.51
2. Growth of Gross Loans 18.44 16.94 14.10 18.37
3. Impaired Loans(NPLs)/ Gross Loans 1.46 1.04 1.05 1.24
4. Reserves for Impaired Loans/ Gross loans 1.17 0.84 0.85 1.01
5. Reserves for Impaired Loans/ Impaired Loans 80.40 80.54 81.07 81.54
6. Impaired Loans less Reserves for Imp Loans/ Equity 2.51 1.72 1.67 1.98
7. Loan Impairment Charges/ Average Gross Loans 0.79 0.53 0.05 0.24
8. Net Charge-offs/ Average Gross Loans n.a. n.a. n.a. n.a.
9. Impaired Loans + Foreclosed Assets/ Gross Loans + Foreclosed Assets 1.46 1.04 1.05 1.24
F. Funding
1. Loans/ Customer Deposits 1,727.48 1,420.57 1,339.93 1,223.99
2. Interbank Assets/ Interbank Liabilities n.a. n.a. n.a. n.a.
3. Customer Deposits/ Total Funding excl Derivatives 5.84 6.95 7.35 7.69

Export-Import Bank of India (EXIM) 4

September 2012
 Banks

Export-Import Bank of India (EXIM)

Reference Data
31 Mar 2012 31 Mar 2011 31 Mar 2010 31 Mar 2009
Year End Year End As % of Year End As % of Year End As % of Year End As % of
USDm INRm Assets INRm Assets INRm Assets INRm Assets

A. Off-Balance Sheet Items

1. Managed Securitized Assets Reported Off-Balance Sheet n.a. n.a. - n.a. - n.a. - 0.0 0.00
2. Other off-balance sheet exposure to securitizations n.a. n.a. - n.a. - n.a. - n.a. -
3. Guarantees n.a. n.a. - n.a. - n.a. - n.a. -
4. Acceptances and documentary credits reported off-balance sheet n.a. n.a. - 30,556.9 5.58 22,735.9 4.83 35,401.2 8.01
5. Committed Credit Lines n.a. n.a. - n.a. - n.a. - n.a. -
6. Other Contingent Liabilities n.a. n.a. - 21,106.1 3.85 14,594.5 3.10 15,925.2 3.60
7. Total Business Volume 12,445.9 636,729.8 100.00 599,170.6 109.44 508,045.2 107.93 493,343.5 111.61
8. Memo: Total Weighted Risks 8,076.4 413,190.0 64.89 353,910.0 64.64 279,990.0 59.48 277,983.6 62.89
9. Fitch Adjustments to Weighted Risks. n.a. n.a. - n.a. - n.a. - n.a. -
10. Fitch Adjusted Weighted Risks 8,076.4 413,190.0 64.89 353,910.0 64.64 279,990.0 59.48 277,983.6 62.89
B. Average Balance Sheet
Average Loans 9,829.0 502,852.9 78.97 418,664.8 76.47 369,380.7 78.47 318,285.6 72.01
Average Earning Assets 11,004.6 562,995.5 88.42 464,294.0 84.80 426,805.6 90.67 364,243.8 82.40
Average Assets 11,573.9 592,118.7 92.99 511,816.5 93.48 456,366.0 96.95 395,707.3 89.52
Average Managed Securitized Assets (OBS) 0.0 0.0 0.00 0.0 0.00 0.0 0.00 0.0 0.00
Average Interest-Bearing Liabilities 9,844.4 503,641.6 79.10 433,754.5 79.22 382,965.1 81.36 327,052.0 73.99
Average Common equity 1,135.7 58,102.1 9.13 49,674.4 9.07 43,326.9 9.20 36,454.7 8.25
Average Equity 1,135.7 58,102.1 9.13 49,674.4 9.07 43,326.9 9.20 36,454.7 8.25
Average Customer Deposits 625.3 31,988.1 5.02 33,175.3 6.06 28,786.8 6.12 15,515.0 3.51
C. Maturities
Asset Maturities:
Loans & Advances < 3 months n.a. n.a. - n.a. - n.a. - n.a. -
Loans & Advances 3 - 12 Months n.a. n.a. - n.a. - n.a. - n.a. -
Loans and Advances 1 - 5 Years n.a. n.a. - n.a. - n.a. - n.a. -
Loans & Advances > 5 years n.a. n.a. - n.a. - n.a. - n.a. -
Debt Securities < 3 Months n.a. n.a. - n.a. - n.a. - n.a. -
Debt Securities 3 - 12 Months n.a. n.a. - n.a. - n.a. - n.a. -
Debt Securities 1 - 5 Years n.a. n.a. - n.a. - n.a. - n.a. -
Debt Securities > 5 Years n.a. n.a. - n.a. - n.a. - n.a. -
Interbank < 3 Months n.a. n.a. - n.a. - n.a. - n.a. -
Interbank 3 - 12 Months n.a. n.a. - n.a. - n.a. - n.a. -
Interbank 1 - 5 Years n.a. n.a. - n.a. - n.a. - n.a. -
Interbank > 5 Years n.a. n.a. - n.a. - n.a. - n.a. -
Liability Maturities:
Retail Deposits < 3 months n.a. n.a. - n.a. - n.a. - n.a. -
Retail Deposits 3 - 12 Months n.a. n.a. - n.a. - n.a. - n.a. -
Retail Deposits 1 - 5 Years n.a. n.a. - n.a. - n.a. - n.a. -
Retail Deposits > 5 Years n.a. n.a. - n.a. - n.a. - n.a. -
Other Deposits < 3 Months n.a. n.a. - n.a. - n.a. - n.a. -
Other Deposits 3 - 12 Months n.a. n.a. - n.a. - n.a. - n.a. -
Other Deposits 1 - 5 Years n.a. n.a. - n.a. - n.a. - n.a. -
Other Deposits > 5 Years n.a. n.a. - n.a. - n.a. - n.a. -
Interbank < 3 Months n.a. n.a. - n.a. - n.a. - n.a. -
Interbank 3 - 12 Months n.a. n.a. - n.a. - n.a. - n.a. -
Interbank 1 - 5 Years n.a. n.a. - n.a. - n.a. - n.a. -
Interbank > 5 Years n.a. n.a. - n.a. - n.a. - n.a. -
Senior Debt Maturing < 3 months n.a. n.a. - n.a. - n.a. - n.a. -
Senior Debt Maturing 3-12 Months n.a. n.a. - n.a. - n.a. - n.a. -
Senior Debt Maturing 1- 5 Years n.a. n.a. - n.a. - n.a. - n.a. -
Senior Debt Maturing > 5 Years n.a. n.a. - n.a. - n.a. - n.a. -
Total Senior Debt on Balance Sheet n.a. n.a. - n.a. - n.a. - n.a. -
Fair Value Portion of Senior Debt n.a. n.a. - n.a. - n.a. - n.a. -
Covered Bonds n.a. n.a. - n.a. - n.a. - n.a. -
Subordinated Debt Maturing < 3 months n.a. n.a. - n.a. - n.a. - n.a. -
Subordinated Debt Maturing 3-12 Months n.a. n.a. - n.a. - n.a. - n.a. -
Subordinated Debt Maturing 1- 5 Year n.a. n.a. - n.a. - n.a. - n.a. -
Subordinated Debt Maturing > 5 Years n.a. n.a. - n.a. - n.a. - n.a. -
Total Subordinated Debt on Balance Sheet n.a. n.a. - n.a. - n.a. - n.a. -
Fair Value Portion of Subordinated Debt n.a. n.a. - n.a. - n.a. - n.a. -
D. Equity Reconciliation
1. Equity 1,212.9 62,052.6 9.75 54,151.6 9.89 46,815.8 9.95 39,837.9 9.01
2. Add: Pref. Shares and Hybrid Capital accounted for as Equity 0.0 0.0 0.00 0.0 0.00 0.0 0.00 0.0 0.00
3. Add: Other Adjustments n.a. n.a. - n.a. - n.a. - n.a. -
4. Published Equity n.a. n.a. - n.a. - n.a. - n.a. -
E. Fitch Eligible Capital Reconciliation
1. Total Equity as reported (including non-controlling interests) 1,212.9 62,052.6 9.75 54,151.6 9.89 46,815.8 9.95 39,837.9 9.01
2. Fair value effect incl in own debt/borrowings at fv on the B/S- CC only 0.0 0.0 0.00 0.0 0.00 0.0 0.00 0.0 0.00
3. Non-loss-absorbing non-controlling interests 0.0 0.0 0.00 0.0 0.00 0.0 0.00 0.0 0.00
4. Goodwill 0.0 0.0 0.00 0.0 0.00 0.0 0.00 0.0 0.00
5. Other intangibles 0.0 0.0 0.00 0.0 0.00 0.0 0.00 0.0 0.00
6. Deferred tax assets deduction 28.5 1,460.0 0.23 570.9 0.10 307.5 0.07 495.7 0.11
7. Net asset value of insurance subsidiaries 0.0 0.0 0.00 0.0 0.00 0.0 0.00 0.0 0.00
8. First loss tranches of off-balance sheet securitizations 0.0 0.0 0.00 0.0 0.00 0.0 0.00 0.0 0.00
9. Fitch Core Capital 1,184.4 60,592.6 9.52 53,580.7 9.79 46,508.3 9.88 39,342.2 8.90
10. Eligible weighted Hybrid capital -109.3 -5,590.0 -0.88 -5,590.0 -1.02 -5,590.0 -1.19 -5,590.0 -1.26
11. Government held Hybrid Capital 109.3 5,590.0 0.88 5,590.0 1.02 5,590.0 1.19 5,590.0 1.26
12. Fitch Eligible Capital 1,184.4 60,592.6 9.52 53,580.7 9.79 46,508.3 9.88 39,342.2 8.90
13. Eligible Hybrid Capital Limit 507.6 25,968.2 4.08 22,963.1 4.19 19,932.1 4.23 16,860.9 3.81

Exchange Rate USD1 = INR51.16000 USD1 = INR44.65000 USD1 = INR45.13500 USD1 = INR50.94500

Export-Import Bank of India (EXIM) 5

September 2012
 Banks

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Export-Import Bank of India (EXIM) 6

September 2012