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Exim Bank, UTI Bank to co-finance exports
Praveen Chandran
12 December 2001

Mumbai: The Export-Import Bank of India (Exim Bank) and UTI Bank have signed a memorandum of understanding (MoU) to co-finance exports and export-oriented companies, as also for providing value-added services to support the internationalisation efforts of small- and medium-sized externally-oriented companies.

As per the MoU, the institutions have agreed to jointly provide export credits and loans to exporter customers who are consistent with their respective operational policies and procedures and to offer available information and advisory services to assist corporate clients seeking to create and enhance their international presence through exports.

They will also assist technology and investment tie-ups and cooperate in promotional activities, including exchange of information relating to business and investment opportunities, organising seminars and workshops and exchange of faculty.

Exim Bank, with its overseas offices and institutional linkages with multilateral institutions, export-credit agencies, foreign banks, and trade and investment promotion agencies in more than 28 countries, has in place a global network for promotion of India’s international trade and investment.

Exim Bank’s range of financing programmes cover import of technology, strategic export marketing, equipment finance, project finance and overseas investment finance, including equity investments in Indian ventures overseas. Its joint venture company, Global Trade Finance, offers export-factoring services.

UTI Bank has a network of 116 branches and extension counters, which offer both working capital and term-loans to its exporter customers. The bank also has a strong network of 411 ATMs across 47 cities and towns in the country. Its branches offer a full range of services in corporate, retail and international banking, treasury management, and merchant and investment banking.

For the half-year ended 30 September 2001, UTI Bank’s total income increased by 67 per cent yoy to Rs 733.53 crore. Its net profit was Rs 56.32 crore, up from Rs 35.17 crore for the first half of the previous year, representing a 60-per cent rise yoy.

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Exim Bank, UTI Bank to co-finance exports