The export finance institution, Export Import Bank of India (Exim Bank) reported increase in annual net profit by 10 per cent at Rs 742 crore during the financial year 2012-`13 backed by growth in project loans.
In the last financial year, the bank had posted a net profit of Rs 675 crore.
Bank also said that it has transferred Rs 263 crore from its net profit to the government in the last fiscal.
The bank provided loans to project export contracts worth Rs 24,255 crore which is up by 5.57 per cent in the fiscal year ended March 31, 2013.
"Despite the slowdown in Europe, the project exports grew because of diversification into Africa and South Asia in FY13," Chairman and Managing Director Mr. T.C.A. Ranganathan, said.
During the year, the Exim bank raised borrowings aggregating Rs 38,569 crore. Of this, Rs 21,557 crore came from the balance from rupee borrowings and overseas borrowings.