Exim Bank Profit Plunges Over 56% In FY16

Mumbai: Exim Bank on Friday reported a 56.5 per cent plunge in net profit at Rs 316 crore for the fiscal year 2016, despite logging a healthy growth in loan disbursals, which crossed the Rs 1 lakh crore mark for the first time. The lender had posted a profit of Rs 726 crore for FY15. The company did not attribute any reasons for the massive drop in profits, but said its bad loans grew 26 basis points to 0.86 per cent during the rep...