India’s National Export Credit Agency

Investor Presentation

September 2019

Presentation Outline

Exim Key Credit Highlights

The India Story

The Exim Bank Story

Appendix

2

Exim Bank: Key Credit Highlights

Set up under an Act of Parliament in 1981

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

Policy Bank for India’s Economic Diplomacy

International investment grade ratings at par with Sovereign

Policy Business Guaranteed / Insured by the Sovereign

Strong regulatory capital position

Exim Bank Bonds eligible for inclusion in EMBIG

4

Exim Bank: Key Credit Highlights

India’s engine for growth of International

Trade

India: Strong Macro backed by supportive policy Environment

Board and Management

StrengthExim:

Proxy to Sovereign

Financial Strength

Policy Role at National Level

1

2

3

4

5

The India Story

India: Strong Macro backed by supportive Policy Environment

Resilient GDP Growth(1,2,3)

• World’s 7th largest economy based on nominal GDP in CY 2018.(2)

o Nominal GDP for CY 2018: ~US$ 2.7 tn.(2)

• World’s 3rd largest economy based on GDP measured in PPP terms in CY2018.(2)

o GDP in PPP terms for CY 2018: ~US$ 10.5 tn.(2)

• India is set to become the 5th largest economy based on nominal GDP by 2019.(2)

• Real GDP growth estimated at 5% in Q1 FY20(3); Full year growth projected at 6.9% in FY20. (4)

• 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.Source: (1) Institute of International Finance (IIF); (2) IMF World Economic Outlook April 2019 & July 2019 Update. Data for CY; (3) Ministry of Statistics and Programme Implementation (MOSPI); (4) Reserve Bank ofIndia (RBI); CY means calendar year ; FYxx means financial year ended March 31, 20xx.; E- IIF Estimates; P – IMF Projections

6

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%

FY 15 FY 16 FY 17 FY 18 FY 19E

(US$

bn)

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

7.2% 6.8% 7.0% 7.2%

6.8% 6.6%6.2% 6.0%

2.2%2.9% 2.6%

1.9%

3.8% 3.6% 3.2% 3.5%

CY 2017 CY 2018 CY 2019 P CY 2020 P

India China United States World

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 67.1 4.10%

Source: (1) Institute of International Finance (IIF) Database; (2) Reserve Bank of India, Press Releases and Online Database (accessed online on 10/09/2019); (3) Central Statistics Office; E- IIF Estimates; * AnnualAverage CPI inflation with base year 2012=100

Key Parameters FY17 FY18 FY19 Change

Credit Deposit Ratio 73.0 74.2 78.2 400 bps

Banking Sector CRAR 13.7 13.8 14.3 50 bps

Banking Sector NPAs 8.6 11.2 9.1 (210 bps)

Provision Coverage Ratio 43.5 48.3 60.9 1260 bps

NBFC CRAR 22.1 22.8 19.3 (350 bps)

NBFC NPAs 6.1 5.8 6.6 80 bps

51.4 51.5 49.6 49.1 48.2

15.2 17.1 15.6 19.8 20.1

66.6 68.6 65.2 68.9 68.3

FY 15 FY 16 FY 17 FY 18 FY 19ECentre State

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

Inflation/ Policy Rates (2)*

7

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

US$ 126 bn7 22 21 3 40 33Imports

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

Merchandise Trade Pattern in FY 19(1)

80 28 17 5 19 46Exports

Services Trade Pattern in FY19(2)

-14.4

-48.7 -57.2

-0.6%

-1.9% -2.1%

FY17 FY18 FY19

(US$

bn)

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

8

439 499 538

136

480584 639

163163 195 208

81

96118 126

127

FY17 FY18 FY19 FY 20 (Apr-Jun)

(US$

bn)

Services Exports Services Imports Merchandise Exports Merchandise Imports

276 384 466 330304513

5536

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). For FY19, Volatile Capital Flow ratio pertains to end-Dec’18; (2) Volatile Capital Flows to Reserves ratio peaked at97.4% in September 2013; (3) Source: RBI/Ministry of Finance, Government of India; * Short-term debt with residual maturity

External Debt 543.0

External Reserves 412.9

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 100 trillion for developing modern infrastructure over 5 years; inter-ministerial Task force to be set up by Department of Economic Affairs to finalise pipeline infrastructure projects

• 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• Setting up of a Special Window, to provide last mile funding for housing projects which are non- NPA and non-NCLT projects and are

net worth positive in affordable and middle income category.

• 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

Recent Policy Measures to Boost Growth

• Enhanced surcharge withdrawn on long term and short term capital gains arising from sale of equity in a company or a unit of an equity oriented fund or a unit of a business trust liable for securities transaction tax. This would ensure flow of funds from both 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 and reduce cost of lending; enhanced risk appetite with thrust on NextGen technology for banking; wider offerings with enhanced customisation; and better ability to raise resources from markets

• Capital infusion of INR 552.5 billion announced for amalgamating banks to boost credit growth

Recent Policy Measures to Boost Growth

• Scheme for Remission of Duties or Taxes on Export Product (RoDTEP) to replace MEIS January 01, 2020. Revenue foregone projectedat INR 500 billion.

• 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

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

• 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

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 andIndustry and External Affairs) and Reserve Bank of India.

GoI Backstop – Policy Business guaranteed/ insured by the Sovereign

Exim Bank Bonds eligible for inclusion in EMBIG

Exim Bank: Proxy to Sovereign

16

Policy Bank

100%owned by

GoI

Proxy to India Sovereign in InternationalDebt Markets

DirectorsAppointed

by GoI

GoI Backstop:Policy

Business

Strong Government Support

17

Exim Bank: Capital Infusion / Proxy to Sovereign

Budget allocation of INR 15 bn from GoI for FY2020 (INR 9.5 bn by way of capital infusion andINR 5.5 bn through Recap Bonds). Out of INR 9.5billion, INR 8 billion received on July 05, 2019 andINR 1.5 billion received on August 30, 2019.

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)

Government Capital Infusion

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 June 30, 2019; [2] Excluding India; [3] Exposures value of less than 1% are excluded

INR 1034 bn INR 152 bn

18

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

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

Sub-Saharan Africa41.48%South Asia 34.61%

SEA FE & PAC 6.84%

North Africa 6.26%

Europe 3.25%Americas 3.97% West Asia 3.49%

Export Finance 59.16%Term Loan to

Exporters21.36%

Overseas Investment Finance 12.81%

Import Finance 4.34%

Export Facilitation 2.29%

Performance Guarantee

40.84%Advance Payment Gurantee 35.31%

Retention Money Guarantee 2.06%

Financial Guarantee 13.56%

Letters of Credit 7.34%

Bid Bond Guarantee0.89%

GOI Risk48%

Corporate Risk (Secured)

39%

Bank Risk/Corporate Risk

(Unsecured)13%

81% 76% 88% 87%

19%24%

12% 13%

FY 17 FY 18 FY 19 3MFY20

Medium/Long Term Loans Short Term Loans86% 82%

94% 92%

14% 18%6% 8%

FY 17 FY 18 FY 19 3MFY20

Direct Refinance

33% 31%24% 26%

67% 69%76% 74%

FY 17 FY 18 FY 19 3MFY20

Rupee Foreign Currency

Exim Bank- Line of Business

Above data as on June 30, 2019; 19

34% 36%

47% 48%

66% 64%

53% 52%

FY 17 FY 18 FY 19 3MFY20

Policy Business Commercial Business

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 June 30, 2019; [3] Others includes industries with exposure less than 1% of the Gross Loan Outstanding. * PCR: Provision Coverage Ratio & AUCA: Advance Under Collection Accounts

20

Current credit watchlist of INR 19.12 bn including IL&FS Group (INR 2.96 bn)

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

9.03%

4.98%

3.85%

4.00%

3.53%

2.70%

2.16%

2.01%

1.54%

1.56%

1.53%

1.42%

1.41%

1.12%

1.00%

10.16%

0.00%

8.85%

5.76%

24.20%

1.87%

2.72%

0.00%

3.99%

1.00%

0.00%

7.33%

12.72%

8.07%

2.32%

0.44%

20.74%

Bank & FIs

Ferrous Metal & Processing

Textiles and Garments

Oil and Gas

Chemicals and Dyes

Drugs & Pharma

Petroleum Products

Petrochemicals

Renewable energy

Shipping Services

Mining and Minerals

Ship building

EPC Services

Agro & Food Processing

Auto & Auto Components

OthersStandard Gross NPL

9.24%

10.37%

11.34% 11.19%

4.68%

3.75%

2.44% 2.29%

52%

66%

80% 81%

55%

71%

85% 86%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

0.00%

2.00%

4.00%

6.00%

8.00%

10.00%

12.00%

FY 17 FY 18 FY 19 3MFY20

Gross NPA

Net NPA

PCR Net of AUCA*

PCR includingAUCA*

Insolvency and Bankruptcy Code: Faster NPA resolutionA

21

Outstanding Provision (%)

Net Book Value

Expected Recovery

(A) Exim Loans admitted/ referred

56.76 83% 9.79 15.98

(B) Guarantors for Exim Loans[2] 33.61 89% 3.68 6.90

Total 90.37 85% 13.47 22.88

Lending Programme % of Total NPAs

% of Bank’s Exposure

Overseas Investment Finance 43.32 4.85

Term Loan to Exporters * 25.02 2.80

Export Finance ** 20.18 2.26

Import Finance 11.45 1.28

Export Facilitation 0.03 0.00

Total 100 11.19

Note: # National Company Law Tribunal[1] As on June 30, 2019; [2] Corporate under NCLT which are Guarantor to the Loans extended by Exim Bank.* 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)

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% 18.10%

1.52%

1.53%

1.36% 1.52%15.81%

10.35%

19.07% 19.62%

FY17 FY18 FY19 3MFY20Tier I (%) Tier II (%) CAR (%)

2.50 2.386.41 6.81

FY17 FY18 FY19 3MFY20

1,172 1,235 1,146 1,171

1,026 1,075 936 940

34% 36%

47% 48%

FY17 FY18 FY19 3MFY 20

(INR

bn)

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

66% 64% 53% 52%

24.8

1

19.3

1

20.6

8

5.83

19.3

9

16.5

2

19.7

0

5.56

21.6

8

61.6

1

18.8

1

4.10

0.41

(29.

24)

0.82

0.63

1.70

1.31 1.56

1.84

FY17 FY18 FY19 3MFY20

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 26 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 June 30, 2019

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

FC Resources71%

Rupee Resources

16%

Capital & Reserves 13%

FC Loans74%

Rupee Loans 26%239 239

212

178

278

222

260282

58

238

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

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

Exim Bank - Board of Directors A

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 24

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

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

Rajnish KumarChairman, State Bank of India

Rakesh SharmaManaging Director and CEO, IDBI Bank

Rajkiran Rai G.Managing Director and CEO, Union Bank of India

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

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

Michael Debabrata PatraExecutive Director, Reserve Bank of India

Geetha MuralidharChairman-cum- Managing Director, ECGC Ltd.

David RasquinhaManaging Director

Exim Bank – Institutionalised Risk Management CultureA

Officer of the rank of 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 Accounts Group, and theChief 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 Accounts Group, and theChief Risk Officer.

Addresses rating and pricing standards, prudential limits on various exposure categories (country, sector, single and group borrower and unsecuredexposures, 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 Chief Risk Officer. Reviews the Bank’s risk overall profile, risk concentrations, operational risk, compliance with prudential limits and overseeing the operations of

CRMC and ALCO. Reviews the Bank’s risk management policies, investment policies and strategy, and regulatory and compliance issues in relation thereto.

Chaired by Deputy Managing Director and comprises of directors appointed on to the Board by the respective institutions (IDBI, ECGC) and theCentral 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 regulatory and internal risklimits developing policies and procedures for integration of various risks at the Bank level, and review of all policies related to the Bank’s business.

Asset-Liability Management Committee

(ALCO)

Credit Risk Management Committee

(CRMC)

Integrated Risk Management Committee

Risk Management Committee

(RMC)

25

Appendix

Financial Highlights

Figures in INR mn FY17 FY18 FY19 3MFY20

Cash and Bank Balance 36,909 28,155 42,120 56,734

Investments 51,029 56,969 93,274 93,817

Loans and Advances(1) 1,026,410 1,075,321 936,171 939,581

Fixed Assets 1,298 1,259 2,277 2,241

Other Assets 56,427 73,486 72,412 78,460

Total Assets 1,172,074 1,235,190 1,146,254 1,170,833

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

Deposits 3,726 2,861 2,528 2,377

Notes, Bonds and Debentures 806,930 865,817 779,196 805,746

Borrowings 150,073 172,973 141,318 133,135

Profit and Loss Account 41 - 82 629

Other Liabilities & Provisions 91,065 97,537 76,394 82,210

Total Liabilities 1,172,074 1,235,190 1,146,254 1,170,833Note: (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.

27

Balance Sheet

Financial Highlights

Figures in INR mn FY17 FY18 FY19 3MFY20

Interest Earned 84,411 82,384 87,266 21,343Interest Expended 65,022 65,863 67,567 15,782Net Interest Income 19,389 16,521 19,699 5,561Non-Interest Income 7,942 5,399 3,700 896Non-Interest Expense 2,525 2,608 2,718 629Net Non-Interest Income 5,417 2,791 982 267Operating Profit 24,806 19,312 20,681 5,828Provisions and Contingencies 21,680 61,610 18,806 4,104

Profit / (Loss) Before Tax (PBT) 3,126 (42,298) 1,875 1,724

Tax (Net of Deferred Tax) 2,714 (13,061) 1,058 1,095Profit / (Loss) after Tax (PAT) 412 (29,237) 817 629

28

Profit and Loss Summary

Financial Highlights

FY17 FY18 FY19 3MFY20

Net Interest Margin 1.70% 1.31% 1.56% 1.84%

Gross NPA 9.24% 10.37% 11.34% 11.19%

Net NPA 4.68% 3.75% 2.44% 2.29%

ROAA 0.04% -ve 0.07% 0.22%

ROAE 0.62% -ve 1.04% 2.76%

CRAR 15.81% 10.35% 19.07% 19.62%

Core CRAR 14.29% 8.82% 17.71% 18.10%

Slippage Ratio 7.02% 4.18% 2.74% 1.16%

Credit Cost 2.06% 5.52% 1.72% 1.59%

29

Key Ratios

A

Issuances in International Debt Markets

30

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

• JPY 32 bn Samurai

FY 2019-20

PARTNERINGGROWTH.GLOBALISINGINDIA.