The Hindu Business Line : Global Trade Finance turnover up 136%

GLOBAL Trade Finance (GTF), a joint venture promoted by EXIM Bank and West LB, Germany, has recorded a total turnover Rs 1,913 crore, a growth of 136 per cent over last year's Rs 808.4 crore.

The export-factoring turnover stood at Rs 643.2 crore, up by 47 per cent. GTF accounts for 65 per cent of India's export factoring business.

The net profit of the company was up by 340 per cent at Rs 6.69 crore ( Rs 1.52 crore). GTF has declared a dividend of 5 per cent to its shareholders for the current financial year.

EXIM Bank has 40 per cent shareholding in it.

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