PROJECT REPORT

Financial Market and

Institutions
EXPORT-IMPORT BANK OF INDIA

Submitted to
Hetal Jhaveri

Submitted by:
A-34 Shimoli Kapdia
A-39 Divij Mehta
A-51 Devshree Parikh
A-66 Supen Shah
A-68 Dhruv Shinde
A-75 Kavya Vyas
B-19 Pruthvi Gajera
 Table of Contents

Introduction to Export-Import Bank Of India...........................................................2

Role of The Exim-Bank.............................................................................................3
The Functions of Export-Import Bank of India:........................................................4
Products.....................................................................................................................5
Buyer's Credit.........................................................................................................5
Corporate Banking.................................................................................................6
Lines of Credit........................................................................................................9
Overseas Investment Finance...............................................................................11
Project Exports.....................................................................................................11
Funded Facilities......................................................................................................11
Non Funded Facilities..............................................................................................12
Services....................................................................................................................13
Marketing Advisory Service................................................................................13
Research & Analysis...........................................................................................13
Export Advisory Service......................................................................................14
Export Advisory Services Group (EAS)..............................................................14
Key Achievement....................................................................................................17
Key Financial Highlight..........................................................................................18
Key Ratio.................................................................................................................19

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Introduction to Export-Import Bank Of India

The export import bank of India was established in 1982. Export-Import Bank of India is the
premier export finance institution of the country, set up in 1982 under the Export-Import Bank of
India Act 1981. Government of India launched the institution with a mandate, not just to enhance
exports from India, but to integrate the countrys foreign trade and investment with the overall
economic growth. Since its inception, Exim Bank of India has been both a catalyst and a key
player in the promotion of cross border trade and investment. Commencing operations as a
purveyor of export credit, like other Export Credit Agencies in the world, Exim Bank of India
has, over the period, evolved into an institution that plays a major role in partnering Indian
industries, particularly the Small and Medium Enterprises, in their globalization efforts, through
a wide range of products and services offered at all stages of the business cycle, starting from
import of technology and export product development to export production, export marketing,
pre-shipment and post-shipment and overseas investment.

It is designed and developed as an apex institution in India for financing promotion and
development of exports in the country.as an apex Centre for export incentive and infrastructure
the Bank acts as a premier institution for the promotion and development of export sector
through multifarious export promotion programs and policies. The significance of the institution
lies in the continuous input that it provides for the domestic exporters and overseas importers
through its finance, advisory and service incentive mechanism, the export promotion incentives
and infrastructure mechanism of the EXIM-BANK. International business promotions.The
Institute is rendering advisory and promotional services like merchant banking service, export
marketing service, advisory services

On multilateral agency funded projects overseas, project preparatory service, overseas

development assistance, consultancy and technologicalService trade finance overseas investment
finance product liability insurance programmed and export vendor development
programmes.3Since its inception the export import bank of India on a continuous basis providing
training research finance consultancy and information services to both the Indian and overseas
importers, which has created a new option for EXIM-BANK in export promotion mechanism.

Export promotion institute, with regard to export marketing and export product development.
EXIM-BANK is also extending the credit for foreign Governments and agencies in developing
countries through buyers credit and lines of credit for overseas importers. The increasing
globalization of the world economy has embarked upon the export-import bank of India for
acting as an export financing institution, commercial export insurer, and a foreign investment
catalyst in promotion of Indian exports.

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Role of The Exim-Bank

To extend credit assistance to Indian exporters of machinery, manufactured goods,

consultancy, technology service and agro based products.
To study prospects for Indian exports, commodity wise and country wise and to suggest
measures for acceleration of export sector.
To undertake co-financing with global and regional development agencies commercial banks
export promotion councils and organizations both at center and state level to assist the
exporters
in their efforts to take part in overseas projects.
To provide information and advisory services to enable the Indian exporters to evaluate the
international risks, export opportunities and competitiveness.
To analyse international market access for Indian exporters through global marketing
information.
To provide advice an international marketing and export data to enable the domestic
exporters for effective participation in opportunities offered by global projects and M.N.C.s
To undertake research and analytical studies on specific industry and sub sector, which are
having export potential.
To extend financial credit for export contract bids overseas.
To identify the various weak links of Indian exporters and offering them a permanent
solution.
To create technical managerial, administrative and export quality skills among the domestic
exporters to strengthen them global standards.
To translate national and foreign trade policies into concrete actions points.
To provide alternative financing solutions to the Indian exporters, guiding him in his efforts
to be internationally competitive.
To develop mutually beneficial relationships with international financial community.
.To initiate and participate in debates on issues related to Indias international trade.
To forge close working relationships with other export development and financing agencies
multinational funding agencies and national trade investment promotion agencies.
To anticipate and absorb new developments in banking, export financing, and information
technology.
To be responsive to export problems of Indian exporters and pursue policy resolutions.
To publish and establish literary sources through library and other information sources to
facilitate the study of various subjects related to exports imports and foreign trade.
To invite global representatives who are interested in investing Indian industries which are
export oriented.
To do all such other activities either along or in conjunction with other organizations as the
economy may consider necessary incidentally or conductive to the objectives of the country.

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The Functions of Export-Import Bank of India:

The main functions of the EXIM Bank are as follows:

(i) Financing of exports and imports of goods and services, not only of India but also of the third
world countries;

(ii) Financing of exports and imports of machinery and equipment on lease basis;

(iii) Financing of joint ventures in foreign countries;

(iv) Providing loans to Indian parties to enable them to contribute to the share capital of joint
ventures in foreign countries;

(v) to undertake limited merchant banking functions such as underwriting of stocks, shares,
bonds or debentures of Indian companies engaged in export or import; and

(vi) To provide technical, administrative and financial assistance to parties in connection with
export and import.

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Products
Buyer's Credit

Buyer's Credit is our unique credit facility programme that motivates Indian exporters to explore
new geographies. Through this programme, the overseas buyer can open a "letter of credit" in
favour of the Indian exporter and can import goods and services from India on deferred payment
terms.

Features

Facilitates exports for SMEs by providing credit to overseas buyer to import goods from
India

Offered for financing capital goods or services on deferred payment terms

Provides non-recourse finance to Indian exporters by converting deferred credit contract into
cash contract

Extended as advance payments to Indian exporters on behalf of the overseas buyer

Can be a transaction specific financing or a revolving/renewable limit

Can be extended to more than one overseas subsidiaries of any Indian company

Since it is a non-LC transactions, it saves LC charges

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 Benefits to Foreign Customer

Medium and long-term financing facilities for smooth execution of projects

Competitive and attractive rates of interest available against host country's high borrowing
cost

Corporate Banking

Company offers a range of financing programmes to enhance the export-competitiveness of

Indian companies. We provide 360 degree support to export-oriented units by catering to long-
term loan requirements that help exporters finance new projects, expand, modernize or purchase
new equipment or carry out R&D; and cater to their working capital and overseas investment
requirements.

I. FI N AN C E FOR C OR POR ATES

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Research & Development Finance For Export Oriented Units

Their objective is to encourage Indian exporters to invest more in their R&D spend to develop
new products and processes that will enhance export capabilities. With the need to bridge the
funding gap of Indian exporters in the research space at our core, we have a dedicated R&D
Financing Programme. Under this programme, financing can be extended to any export oriented
company. Alternatively, a special purpose vehicle promoted by the company can be created
irrespective of the nature of the industry.

Pre-Shipment/Post-Shipment Credit Programme:

Company understands that a primary obstacle for Indian exporters is the lack of a dependable
source of financing. We attempt to bridge this gap by extending export credit to Indian exporters
to meet a wide range of their trade financing requirements. We provide working capital finance
by way of pre-shipment credit and post-shipment credit. We also extend non-fund based limits
including issuance of Letters of Credit (both foreign & inland) and Bank Guarantees (both
foreign & inland) as part of our export credit assistance to clients. The credit limits are generally
operated as a running account facility. The facilities can be drawn in either Indian Rupee or
Foreign Currency.

Lending Programme for Export Oriented Units:

In order to enhance international competitiveness and the capabilities of export-oriented Indian

companies, we provide term loans to finance various capital expenditures including certain soft
expenditures of such companies. Loans or guarantees are extended for the expansion,
modernization, upgradation or diversification projects. This includes acquisition of equipment,
technology export marketing, export product development and setting up of Software
Technology Parks.

Import Finance Programme

Company offer a comprehensive range of products and services covering financial needs of
borrower companies at all stages of business cycle to enhance the competitiveness of Indian

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 companies. The Companies involved in manufacturing/services, having only domestic operation
and no exports, are eligible for financing from Exim Bank for import of equipment/machineries
for domestic projects. Financing is done towards bulk import of machineries, services for
capacity expansion, modernization and infrastructure projects.

Production Equipment Finance Programme

Company extends credit to eligible export oriented enterprises to enhance the export capability
creation through financing non-project related equipment procurement. We offer loan for
acquisition of plant and machinery, purchase of ancillary equipment including equipment for
packaging, pollution control, utilities, quality assurance etc. The loans are flexible and can be
extended for equipment procurement for balancing, replacement, modernization and capacity up-
gradation.

II. FI N AN C E FOR S ME

Company have been partnering with SMEs for their financing, capacity building and market
advisory support. With a view to have a focused approach in providing financial and advisory
services to the SME sector, Exim Bank setup a separate SME Group in 2004. Exim Bank offers a
holistic package, distinct from commercial banks, that is focused on export capability creation
among SMEs, through enhancing their export production, export marketing and international
competitiveness.

SME Group

SME Group has been established to cater to the specific financing requirements of export
oriented SMEs. The financing programmes for SMEs cater to requirements at various stages of
the export business cycle of Indian SME exporters/forex earners covering import of technology,
export product development, export production, export marketing, export credit at post-shipment
stages, and investment overseas. In addition to various lending programmes for Corporates,
SMEs can also avail financing under following services/programmes from Exim Bank.

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For Clusters of Indian SME EOUs:

Besides providing financial assistance to individual SME EOUs, we also provide financial
assistance to Special Purpose Vehicles (SPVs) of a cluster of SMEs. Term loans are provided to
such clusters of SME units for the following activities:

Development of new geographically contiguous cluster/industrial park, involving creation

and maintenance of common infrastructure and common facilities. This includes construction
of buildings and civil works and the acquisition of assets or the requisite technology, for the
benefit of industrial units within the cluster/industrial park.

Development of an industrial estate, by industrial users, industry associations and/or

Government bodies.

Up-gradation of an existing industrial cluster or industrial estate.

Development of specific infrastructure, including common effluent treatment plant, captive

power plant, transportation linkages, hazardous waste disposal.

Development of Common Facilities Centers like testing centers, cold storages, for industrial
clusters, industrial estates, or a group of industries with common interests.

Lending Programme for Financing Creative Economy:

Company believe that the creative industry of India has the required potential, skill and talent for
job creation and thereby creation of wealth. The need of the day is to generate an environment
where exploitation of intellectual property can be facilitated. There is a large untapped potential
for generation of exports through creative industry segments such as advertising, architecture, art
and antiques market, crafts, design, designer fashion, film and video, interactive leisure software,
music, performing arts, publishing software, etc. With a view to provide a strategic focus to this
sector and enhance our presence in the creative economy space, we have introduced a
Programme specifically for financing the creative economy.

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III. FI N AN C E FOR GR A SS R OOTS EN TER PR IS ES

Company believe in promoting all round development of the economy and have thus lent our
hand of support to enterprises based out of rural areas of the country through our GRID
programme. Through this initiative, we promote grassroots initiatives/technologies, particularly
those having export potential. We seek to help artisans/producer groups/clusters/small enterprises
across the country to realize remunerative return on their produce essentially through facilitating
exports from these units.

Company understand the needs of such organisations and offer tailor-made financial products to
cater to their needs. We work towards developing a robust, vibrant and holistic approach by
providing assistance at various stages of product development / business cycle. The broad areas
that we support include capacity building, matching grant support for product/process
certification and design and packaging enhancement, working capital finance, term lending for
development of common facility centres, construction of raw material bank, technology
upgradation and creation of export capability.

Lines of Credit

From their inception company have been extending Lines of Credit (LOC) to enable Indian
exporters to enter new geographies or expand their business in existing export markets without
any payment risk from overseas importers. We put special emphasis on extending LOC as an
effective market entry tool as well as a means of market diversification for Indian exporters.

i. GO VER N MEN T OF IN D I A SU PPORTED LOC S

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 In 2003-04, The Government of India (GOI) formulated the Indian Development Initiative (IDI),
now known as Indian Development and Economic Assistance Scheme (IDEAS) with the
objective of sharing India's development experience through:

1. capacity building and skills transfer,

2. trade, and

3. infrastructure development,

by extending concessional LOCs routed through Exim Bank, to developing partner countries,
towards creating socio-economic benefits in the partner country.

The Ministry of External Affairs (MEA) has now set up the Development Partnership
Administration (DPA) Division to deal with India's development assistance programmes abroad,
including LOCs routed through Exim Bank. These LOCs are increasingly being extended to
partner countries for large-scale and complex projects (project exports from India).

Both, bilateral and multilateral assistance, typically follow a sequence of standard procedures:

1. project identification and preparation,

2. review and approval of the project proposal,

3. offer of the loan, acceptance and execution of loan agreement,

4. project implementation, monitoring and supervision, and

5. socio-economic impact assessment after project completion

Lessons learned from the impact assessment / evaluation act as a feedback to the preparation,
review and implementation of future projects. This process forms the 'project cycle'.

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 Requirement as to import of goods and services from India

These loans are for project exports and the import of goods and services from India.

Goods and services (including consultancy services) for minimum 75% value of the
contracts covered under these loans must be sourced from India. (A relaxation of 10% may be
considered on a case-to-case basis)

LOCs may finance upto 100% value of contract on FOB/CFR/CIF/CIP basis.

Soft loans under the scheme shall be free from all kinds of taxes and duties of any nature
whatsoever levied in the recipient country (including all corporate/personal/value added taxes,
import/custom duties, special levies and social security contributions) for temporary employees
deputed by Indian exporters in relation to the project execution in the recipient countries.

ii. E XI M BAN K'S OWN C OMMERC I A L LIN ES OF C R ED I T

To promote Indian projects, products and services we have been extending LOCs to various
countries. Our own LOCs are offered to economically strong and developing countries. We
finance all items eligible for being exported under the "Foreign Trade Policy" of the Indian
Government. Our LOCs are typically linked to LIBOR rates and carry a tenor up to seven years.
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1. Overseas Investment Finance

For over three decades, company have enhanced export opportunities for India and driven the
economic growth of the nation. We have attempted to integrate foreign trade and investment
opportunities to build value over the long term. At a time when India is readying to make a mark
on the global arena as a manufacturing hub, to invest abroad for seeking resources, markets,
efficiencies or even strategic assets, we encourage Indian companies to invest abroad and are
here to facilitate conditions for that.

2. Project Exports

In recent years, Indian project exporters have secured diverse contracts exemplifying their
versatility and technological capabilities. at EXIM Bank, have been one of the prime movers in
encouraging project exports from India; and have enabled Indian companies to secure contracts
across various geographies over two decades and supplement the development objectives of host
countries

Funded Facilities

Pre-Shipment Credit

Pre-Shipment credit is provided in Indian and foreign currency to support the company with
appropriate access to finance at the manufacturing stage. Such credit facilities enable exporters to
purchase raw materials and other inputs, and enables provision of Rupee/FC mobilization
expenses for construction/turnkey projects. We also provide foreign currency pre-shipment credit
facility to import raw materials and other inputs for export production.

Post-Shipment Credit

Post-Shipment credit finances the export bill after shipments have been made. This facility
enables Indian exporters to extend term credit to importers at the post-shipment stage. We extend
such facilities individually or may even collaborate with a commercial bank on a case-to-case
basis.

Export Project Cash Flow Deficit Finance (EPCDF)

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Export Project Cash Flow Deficit Finance (EPCDF) facility is provided to Indian Project
exporters executing project export contract overseas. The facility (available in domestic and
foreign currency) helps take care of temporary cash flow deficits during contract execution
period.

Non Funded Facilities

Indian companies can avail non-funded facilities to secure and facilitate execution of export
contracts or deemed export contracts.

Advance Payment Guarantee (APG):

This helps secure a project mobilization advance as a percentage (10-20%) of the contract value.
This is a guarantee issued to project exporters and is generally recovered (on a pro-rata basis)
from the progress payment during project execution.

Performance Guarantee (PG):

A performance guarantee for up to 5-10% of contract value may be availed of by an exporter.

This is valid until completion of maintenance period and/or grant of Final Acceptance Certificate
(FAC) by the overseas client.

Retention Money Guarantee (RMG):

This enables one to obtain the release of retained payments from the client prior to issuance of
Project Acceptance Certificate (PAC) / Final Acceptance Certificate (FAC).

Services

1. Marketing Advisory Service

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Exim Bank's Marketing Advisory Services (MAS) Group plays a promotional role to create and
enhance export capabilities and international competitiveness of Indian companies. The Group
leverages the Bank's high international standing, in-depth knowledge and understanding of the
international markets and well established institutional linkages. Its physical presence supports
Indian companies in their overseas marketing initiatives on a success fee basis. The fees for
MAS is payable in Indian Rupees and applies to the subsequent orders from the client introduced
by the Bank for a period of at least 2 years.

Key roles of Marketing Advisory Services:

To help Indian exporting firms in their globalisation efforts by proactively assisting in

locating overseas distributors/buyers/partners for their products/services

To identify opportunities overseas for setting up plants or projects or for acquisition of

overseas companies

Exim Bank has successfully placed a range of products in overseas as well as domestic markets.
Products like handmade paper, handicrafts, vegetables and fresh fruits, garments, home dcor,
marine products, spices and agri-equipments are placed in Singapore, Africa, Brazil, Middle
East, and US. The MAS Group also organizes workshops and supporting events to facilitate
design, and package their products for the international markets.

2. Research & Analysis

At the helm of Exim Bank's Research & Analysis Group (RAG) is a team of experienced
economists and strategists who steer the group with in-depth insights on international economics,
trade and investment. The Group skillfully monitors trends in global and domestic economies to
analyse their impact on Indian and other developing economies. Besides catering to the
constituents within the Bank, the Group also connects with the Government, RBI,
exporters/importers, trade & industry associations, external credit agencies, academic institutions
and researchers.

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The Group envisages avenues to enhance India's international engagement and implements the
research under a broad classification of regional, sectoral and policy related studies; which are
then published as Occasional Papers, Working Papers, Books, etc.

3. Export Advisory Service

Export Advisory Services Group (EAS)

The Export Advisory Services Group [EAS] offers a diverse range of information, advisory and
support services, which enable exporters to evaluate international risks, exploit export
opportunities and improve competitiveness. Value added information and support services are
provided to Indian projects exporters on the projects funded by multilateral agencies.

The Group undertakes customised research on behalf of interested companies in the areas such as
establishing market potential, defining marketing arrangements, and specifying market
distribution channels. Developing export market entry plans, facilitating accomplishment of
international quality certification and display of products in trade fairs and exhibitions are other
services provided.

The Bank provides a wide range of information, advisory and support services, which
complement its financing programmes. These services are provided on a fee basis to Indian
companies and overseas entities. The scope of services includes market-related information,
sector and feasibility studies, technology supplier identification, partner search, investment
facilitation and development of joint ventures both in India and abroad. During the year, the
Bank provided a range of services to companies. Information in the form of a list of importers /
exporters across different industries and sectors was provided to Indian firms active in
international trade

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 Multilateral Funded Projects Overseas (MFPO)

The Bank provides a package of information and support services to Indian companies to help
improve their prospects for securing business in projects funded by the World Bank, Asian
Development Bank, African Development Bank, and European Bank for Reconstruction and
Development. During the year, the Bank disseminated information on numerous overseas
business opportunities to various Indian companies covering various sectors including
transportation, construction, telecommunication, energy, infrastructure, educational and
information technology.

Exim Bank as a Consultant

The Banks experience in evolving as an institution supporting international trade and

investment, in addition to functioning as an export credit agency in a developing country context,
is of particular relevance in other developing countries. The Bank has been sharing its experience
and expertise by undertaking consultancy assignments. Exim Bank also shares its experience and
expertise through provision of on-site exchange of personnel programmes aimed at providing a
first-hands experience to the employees of its institutional partners.

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 Institutional Linkages

The Bank has fostered a network of alliances and institutional linkages with multilateral
agencies, export credit agencies, banks and financial institutions, trade promotion bodies, and
investment promotion boards to help create an enabling environment for supporting trade and
investment.

Global Network of Exim Banks and Development Financial Institutions

The Global Network of Exim Banks and Development Finance Institutions (G-NEXID) was set
up in Geneva in March 2006 through the Banks initiative, under the auspices of UNCTAD. With
the active support of a number of other Exim Banks and Development Finance Institutions from
various developing countries, the network has endeavoured to foster enhanced South-South trade
and investment cooperation, characterized among others, by the launching of the G-NEXIDs
website (www.gnexid.org) and annual meetings of the Forum. Observer Status in UNCTAD
underscores support for the Forum, while acceptance of the accrued benefit of the Forum by
developing countries can be assessed from the fact that the members continued to extend their
active participation in the year 2012-13 also.

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Key Achievement
Award for Business Excellence

Exim Bank and Confederation of Indian Industry (CII) joined hands in 1994, to promote
excellence among Indian companies through the CII-Exim Bank Award for Business
Excellence for best Total Quality Management (TQM) practices adopted by an Indian company.
The Award is based on the European Foundation for Quality Management (EFQM) model. The
award, which is an annual ceremony, is a prestigious and befitting industry recognition given to a
company after being assessed by panels of trained assessors through a transparent and rigorous
methodology based on the EFQM Mode

International Economic Research Award

The International Economic Research Award was instituted by the Bank in 1989. The objective
of the Award is to promote research in international economics, trade, development and related
financing, by Indian nationals at universities and academic institutions in India and abroad. The
Award consists of a sum of Rupees Three Hundred and Fifty Thousand and a citation. The
winner for the year 2014 is Dr. Kalyan Shankar, for his doctoral thesis titled Analysis of Inter-
Country Value Addition Chains in the Trade of Select Manufacture Commodities among Select
South East Asian Economies. Dr. Shankar received his degree in 2011 from the University of
Pune.

ADFIAP Award

The Bank was conferred the Outstanding Development Project Award 2016 under the Trade
Development category by the Association of Development Financing Institutions in Asia and
the Pacific (ADFIAP) during its 39th Annual Meeting held in Apia, Samoa. The ADFIAP
Development Award recognises and honours ADFIAP member institutions, which have assisted
projects that have created a development impact in their respective countries. Awards are given
to members, which in the judgment of the ADFIAP Awards Board, have implemented or
enhanced outstanding and innovative development projects during the immediate past year.
ADFIAP has recognised Exim Banks contribution to development by conferring the Trade
Development Awards for the Banks various innovative products.

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Exim Bank of India BRICS Economic Research Award

During Indias Presidency under the BRICS Interbank Co-operation Mechanism, the Bank has
instituted the Exim Bank of India BRICS Economic Research Award, with the objective to
encourage and stimulate advanced research on economics related topics of contemporary
relevance to the member nations of BRICS. The Award, comprising of a citation and prize
money of Rupees 1.5 million (approximately US$ 20,000) would be supported by the Bank.

International and Domestic Rating

Amount in RS Crore
Description 2013-2014 2014-2015 2015-2016

Loan Sanctioned 48264 57684 72576

Loan Disbursed 43262 38508 51822
Total Liabilities 87149 98425 115217
Financial Performance

Profit Before Tax 1020.2 1135 453

Profit After Tax 709.8 725.8 315.77
Ratio

Capital to Risk Asset Ratio 14.3 15.3 14.55

Ratio (%)
PBT to Capital (%) 29.9 25.7 7.12
PBT to Assets (%) 1.2 1.2 0.39

The Bank is rated Baa3 (Positive) by Moodys, BBB- (Stable) by Standard and Poors, BBB-
(Stable) by Fitch Ratings and BBB+ (Stable) by Japan Credit Rating Agency (JCRA). All the
above ratings are of investment grade or above and are the same as the sovereign rating. The
Banks domestic debt instruments continued to enjoy the highest rating viz., AAA from the
rating agencies, CRISIL and ICRA for long term instruments and A1+ from the rating agencies
CRISIL, ICRA and CARE for short term instruments.

KEY FINANCIAL HIGHLIGHT

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Key Ratio
1 Current Ratio:

The current ratio is a liquidity ratio that measures whether or not a firm has enough resources
to meet its short-term obligations. It compares a firm's current assets to its current liabilities.

Current Ratio = Current Assets/Current liabilities

2015-2016 2014-2015 2013-2014

Current Asset 54,437,772,2 45,119,549,4 51,240,826,1

62 25 17
Current 54,223,325,8 50,853,115,5 43,293,522,4
Liabilities 95 47 89
Current 1.003954873 0.887252412 1.183567961
Ratio

2 Capital Adequacy Ratio:

Capital Adequacy Ratio (CAR), also known as Capital to Risk (Weighted) Assets Ratio
(CRAR). It is the ratio of a bank's capital to its risk. It is expressed as a percentage of a
bank's risk weighted credit exposures.

2015- 2016 2014-2015 2013-2014

Capital Adequacy Ratio 14.55 15.34 14.32

3 Debt-equity ratio

Debt/Equity Ratio is a debt ratio used to measure a company's financial leverage, calculated
by dividing a companys total liabilities by its stockholders' equity. The D/E ratio indicates
how much debt a company is using to finance its assets relative to the amount of value
represented in shareholders equity.

Debt - Equity Ratio = Total Liabilities / Shareholders' Equity

2015-2016 2014-2015
Debt-Equity 8.12:1 7.95:1

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Ratio

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