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Axis bank

Axis Bank Limited (formerly UTI Bank) is the third largest private sector bank in India. Axis
Bank's stake holders include prominent national and international entities. As of 31 Dec.
2013, approximately 43% of the shares are owned by Foreign Institutional Investors.
Promoters (UTI, LIC and GIC), who collectively held approx. 34% of the shares, are all
entities owned and controlled by theGovernment of India. The remaining 23% shares are
owned by corporate bodies, financial institutions and individual investors among others. The
bank offers financial services to customer segments covering Large and Mid-Sized
Corporates, MSME, Agriculture and Retail Businesses. [1] Axis Bank has its registered office
at Ahmedabad.

Operations
Indian Business: As of 22 April 2016, the bank had a network of 3062 branches and
extension counters and 12922 ATMs.[5] Axis Bank has the largest ATM network among
private banks in India[6][7] and it operates an ATM at one of the worlds highest sites at
Thegu, Sikkim at a height of 4,023 meters (13,200 ft) above sea level.[8]
International Business: The Bank has eight international offices with branches at
Singapore, Hong Kong, Dubai (at the DIFC), Shanghai, Colombo[9] and representative
offices at Dubai and Abu Dhabi, which focus on corporate lending, trade finance,
syndication, investment banking and liability businesses. In addition to the above, the Bank
has a presence in UK with its wholly owned subsidiary Axis Bank UK Limited. [5][10] The total
assets of the overseas branches were US$7.86bn ().

Services[edit]
As of 2014, Axis Bank operates in four segments: treasury operations, retail
banking, corporate banking, and wholesale banking.[11]

Treasury operations[edit]

The Banks treasury operation services include investments in sovereign and corporate
debt, equity and mutual funds, trading operations, derivative trading and foreign exchange
operations on the account, and for customers and central funding. [3]

Retail banking[edit]
In the retail banking category, the bank offers services such as lending to individuals/small
businesses subject to the orientation, product and granularity criterion, along with liability
products, card services, Internet banking, automated teller machines (ATM) services,
depository, financial advisory services, and Non-resident Indian (NRI) services.[3]Axis bank is
a participant in RBI's NEFT enabled participating banks list. [12]

Corporate/wholesale banking[edit]
The Bank offers to corporate and other organisations services including corporate
relationship not included under retail banking, corporate advisory services, placements and
syndication, management of public issues, project appraisals, capital market related
services and cash management services.

NRI services[edit]
Products and services for NRIs that facilitate investments in India. [13]

Business banking[edit]
The Bank collects income and other direct taxes through its 214 authorised branches at 137
locations and central excise and service taxes (including e-Payments) through 56
authorised branches at 14 locations.[3]

Investment banking[edit]
Banks Investment Banking business comprises activities related to Equity Capital
Markets, Mergers and Acquisitions and Private Equity Advisory. The bank is a SEBIregistered Category I Merchant Banker and has been active in advising Indian companies in
raising equity through IPOs, QIPs, and Rights issues etc. During the financial year ended 31
March 2012, Axis Bank undertook 9 transactions including 5 IPOs and 2 Open Offers.

[3]

Lending to small and medium enterprises[edit]


Axis Bank SME business is segmented in three groups: Small Enterprises, Medium
Enterprises and Supply Chain Finance. Under the Small Business Group a subgroup for
financing micro enterprises is also set up.[3] Axis bank is the first Indian Bank having TCDC
cards in 11 currencies.[citation needed]

Agriculture banking[edit]
759 branches of the Bank provide banking services, including agricultural loans, to farmers.
[3]

As on 31 March 2013, the Banks outstanding loans in the agricultural sector was INR 148

billion, constituting 7.5% of its total advances. [3]


Advisory Services have been developed to advise public and private sector clients on
capital structuring and funding options with a view to help the clients to help them reduce
the cost of funds. The Group has also been active in advising the central and various state
governments or their agencies in privatisation and bid process management. The Group
has successfully worked on some of the benchmark transactions in infrastructure
development & manufacturing sector covering an entire range of projects across roads,
railways, airports, urban infrastructure maritime, power, oil and gas, petrochemicals,
cement, sugar, textiles, steel & allied sectors, auto ancillaries, paper, Information
Technology (IT), etc.
Ping Pay was unveiled between 2125 May 2015, which is a multi-social payment solution
that let customers to transfer funds using their smart phones to both Axis Bank accounts
and other banks' account holders.

History[edit]
UTI Bank opened its registered office in Ahmedabad and corporate office in Mumbai in
December 1993. The first branch was inaugurated on 2 April 1994 in Ahmedabad by
Dr.Manmohan Singh, then Finance Minister of India. UTI Bank began its operations in 1993,
after the Government of India allowed new private banks to be established. The Bank was
promoted in 1993 jointly by the Administrator of the Unit Trust of India (UTI-I), Life Insurance
Corporation of India (LIC), General Insurance Corporation, National Insurance
Company, The New India Assurance Company, The Oriental Insurance Corporation
and United India Insurance Company.
In 2001 UTI Bank agreed to merge with and amalgamate Global Trust Bank, but
the Reserve Bank of India (RBI) withheld approval and nothing came of this. In 2004 the
RBI put Global Trust into moratorium and supervised its merger into Oriental Bank of
Commerce.
UTI Bank opened its first overseas branch in 2006 Singapore. That same year it opened a
representative office in Shanghai, China.

UTI Bank opened a branch in the Dubai International Financial Centre in 2007. That same
year it began branch operations in Hong Kong. The next year it opened a representative
office in Dubai.
Axis Bank opened a branch in Colombo in October 2011, as a Licensed Commercial Bank
supervised by the Central Bank of Sri Lanka. Also in 2011, Axis Bank opened a
representative offices in Abu Dhabi.
In 2013, Axis Bank's subsidiary, Axis Bank UK commenced banking operations. Axis Bank
UK has a branch in London.

Initiatives[edit]
The Business Gaurav SME Awards: In 2011 centres and SME cells each across the
country, taking the total number to 32 SME Centres. The Bank also organised the 'Business
Gaurav SME Awards' in association with Dun & Bradstreet to recognise and award
achievements in the SME space.[14]
Financial inclusion: Till March 2012, the Bank had opened over 4.4 million No
Frills accounts in over 7607 villages through a network of 15 Business Correspondents and
nearly 6000 customer service points. Axis Bank has a strong presence in Electronic Benefit
Transfer (EBT) and has covered 6800 villages across 19 districts and 9 states till date with
over 3.7 million beneficiaries.
Industry First Initiatives:

Axis Bank launched Mobile Banking App 2.0 for its retail resident Indian customers
the first of its kind in India, which offers a high level of personalisation . The App has
been launched in partnership with Tagit, a leading Singapore mobile solutions company.
The new application uses Tagit's mobility solution platform that enables Banking on-thego.[15][16]

'Axis Bank - ISIC Forex Card' for students, is the first photo Travel Currency Card
available in USD, Euro, GBP and AUD currencies. It can be used across 34 million
merchant locations and at over 2 million MasterCard ATMs globally.[17]

Axis Bank has partnered with Visa to launch 'eKYC' (electronic Know your customer)
facility, first organisation in India to introduce Biometrics based KYC, offering

convenience, speed and ease to Aadhaar-registered individuals to open bank accounts.


[18]

Awards and recognitions[edit]

Bank of the Year Money Today FPCIL Awards 201213[19]

'Consistent Performer' in 'Indias Best Banks 2012 survey' by Business Today and
KPMG[20]

Marketing and reputation management[edit]


Brand ambassador[edit]
Deepika Padukone, a Bollywood actress is the brand ambassador of Axis Bank [21]

Corporate social responsibility[edit]

Axis Bank Foundation: Axis bank has set up this trust in 2006 and supports
supplementary education. Axis Bank contributes up to 1 percent of its net profit annually
to various social initiatives undertaken by this foundation. [22] During the year 201112,
the foundation has partnered with 36 NGOs for educating over a lakh underprivileged
and special kids in 13 states.

Green Banking: The recycling initiative under the Green Banking banner has helped
the bank productively use around 21572 kilograms of dry waste during the year.[3] The
Axis Bank's corporate office in Mumbai is designed and constructed as a
Platinum LEED-Certified Green Building.[3]

Listing and shareholding[edit]


Axis Banks's equity shares are listed on the Bombay Stock Exchange and National Stock
Exchange of India.[3][23] The company's global depository receipts (GDRs) are listed on
the London Stock Exchange.[24] The Bonds issued by the Bank under the MTN programme
are listed on the Singapore Stock Exchange.[3]
As on 31 December 2013, the promoters UTI, LIC and GIC held approx. 34% of the shares
in Axis Bank. Foreign Institutional investors (FII) held approx. 43% of the shares. Remaining
23% of the shares are held by others.[25]

The bank aims to increase its share in the financial services sector by continuing to build a
strong retail franchise. The segment continues to be one of the key drivers of the Banks
growth strategy, encompassing a wide range of products delivered through multiple
channels to customers. It offers a complete suite of products across deposits, loans,
investment solutions, payments and cards.[26]
Shareholders (as on 31-Dec-2013)

Shareholding[25]

Promoter Group

33.88%

Foreign Institutional Investors (FII)

43.18%

Individual shareholders

06.61%

Bodies Corporate

06.03%

Mutual funds

04.47%

GDR

03.90%

Financial institutions / Banks

00.85%

Others

01.08%

Total

100.0%

Employees[edit]

As on 31 March 2013, Axis Bank had 37,901 employees, out of which 7,117 employees
were women (19%). The bank incurred INR 26.7 billion on employee benefits during the FY
2012-13.[3] The average age of an Axis Bank employee is 29 years. [27] The attrition rate in
Axis Bank is approx. 9% per year.[28]

Hdfc bank
HDFC Bank Limited (Housing Development Finance Corporation) is an Indian banking
and financial services company headquartered in Mumbai, Maharashtra. It has about
76,286 employees including 12,680 women[6] and has a presence in Bahrain, Hong Kong
and Dubai.[7] HDFC Bank is the second largest private bank in India as measured by assets.
[8]

It is the largest bank in India by market capitalization as of February 2016. [9] It was ranked

58th among Indias most trusted brands according to Brand Trust Report, 2015. [10]
Total balance sheet size as of December 31, 2015 was Rs. 687,892 crores as against Rs.
534,855 crores as of December 31, 2014. The Banks total income for the quarter ended
December 31, 2015 was Rs.18,283.3 crores, up from Rs.14,930.7 crores for the quarter
ended December 31, 2014. Net revenues (net interest income plus other income) increased
by 20.7% to Rs. 9,940.7 crores for the quarter ended December 31, 2015 as against Rs.
8,234.8 crores for the corresponding quarter of the previous year.[11]
Contents
[hide]

1History

2Acquisitions
o

2.1Times Bank

2.2Centurion Bank of Punjab

3Products and Services


o

3.1Wholesale banking services

3.2Retail banking services

3.3Treasury
4Operations

4.1Subsidiaries

5Listings and shareholding

6CSR Activities

7Awards and Recognition


o

7.12016

7.22015

7.32014

7.4Controversies

8See also

9References

10External links

History[edit]
In 1994, HDFC Bank Limited was incorporated, with its registered office in Mumbai, India.
Its first corporate office and a full service branch at Sandoz House, Worli was inaugurated
by the then Union Finance Minister, Dr. Manmohan Singh.
It operates in 2,505 cities in India with 4,281 branches which are linked on an online realtime basis. The Bank has a network of 11,843 ATMs across India. [12]

Acquisitions[edit]
Times Bank[edit]
In February, 2000, Times Bank Limited (a new private sector bank promoted by Bennett,
Coleman & Co. / Times Group) merged with HDFC Bank Ltd. This was the first merger of
two private banks in the New Generation Private Sector Banks category. As per the scheme
of amalgamation approved by the shareholders of both banks and the Reserve Bank of
India, shareholders of Times Bank received 1 share of HDFC Bank for every 5.75 shares of
Times Bank.[13]

Centurion Bank of Punjab[edit]

In 2008, Centurion Bank of Punjab (CBoP) was acquired by HDFC Bank Ltd. HDFC Bank
Board on 25 February 2008 approved the acquisition of CBoP for Rs 9,510 crore in one of
the largest mergers in the financial sector in India. As per the scheme of amalgamation,
shareholders of CBoP received 1 share of HDFC Bank for every 29 shares of CBoP.[14]

Products and Services[edit]


Wholesale banking services[edit]
HDFC Bank provides a range of commercial and transactional banking services, including
working capital finance, trade services, transactional services, cash management, etc. to
large, small and mid-sized corporates and agriculture-based businesses in India. [15][15]

An HDFC Bank Branch

Retail banking services[edit]


HDFC Bank was the first bank in India to launch an International Debit Card in association
with VISA (Visa Electron). The bank also issues theMasterCard Maestro debit card.[16][17] The
Bank launched its credit card business in late 2001. By the end of June 2013, it had a credit
card base of 5.94 million.[18] By March 2012, the bank had a total card base (debit and credit
cards) of over 19.7 million.The Bank is also one of the leading players in the "merchant
acquiring" business with over 240,000 point-of-sale (POS) terminals for debit / credit cards
acceptance at merchant establishments.[2][19]

Treasury[edit]
The bank has three main product areas - Foreign Exchange and Derivatives, Local
Currency Money Market & Debt Securities, and Equities. These services are provided
through the bank's Treasury team. To comply with statutory reserve requirements, the bank
is required to hold 25% of its deposits in government securities. The Treasury business is
responsible for managing the returns and market risk on this investment portfolio.

Operations[edit]
As of December 31, 2015, the Banks distribution network was at 4,281 branches in 2,505
cities in India, and all branches of the Bank are linked on an online real-time basis. [20]The
Bank has overseas branch operations in Bahrain, Hong Kong and Dubai. [21] Customers
across India are also serviced through multiple delivery channels such as Phone
Banking, Net Banking, Mobile Banking and SMS based banking.[22]
The Bank also has a network of 11,843 ATMs across India. [20]

Subsidiaries[edit]
HDB Financial Services Limited (HDBFS) is engaged in retail asset financing. It is a
non-deposit taking non-bank finance company (NBFC). [23] Apart from lending to individuals,
the company grants loans to micro, small and medium business enterprises. It also runs call
centers for collection services to the HDFC Banks retail loan products. The Company is
promoted by HDFC Bank Ltd which has 97.42% shareholding in the Company as on 31
March 2012.[24] As of March 31, 2015, HDBFS had 425 branches in 265 cities. During the FY
2013-14, HDBFS had turnover of Rs 1688.27 crores and profit after tax of Rs 209.24 crores.
[25]

HDFC Securities Limited (HSL) is engaged in stock broking. As of March 31, 2014,
HDBFS has 200 branches across 160 cities. HDFC Bank has 89.24% shareholding in HSL.
During the FY 2013-14, HSL had turnover of Rs 263.1 crores and profit after tax of Rs 78.4
crores.[26]

Listings and shareholding[edit]


The Equity shares of HDFC Bank are listed on Bombay Stock Exchange and the National
Stock Exchange of India. Its American Depository Shares are listed on NYSE and the
Global Depository Receipts are listed on the Luxembourg Stock Exchange where two GDRs
represent on equity share of HDFC Bank.
Shareholders (as of 31 December-2015)

Promoter Group (HDFC)

Shareholding[27]

21.57%

Foreign Institutional Investors (FII)

32.40%

Individual shareholders

8.5%

Bodies Corporate

07.50%

Insurance companies

05.38%

Mutual Funds/UTI

8.65%

NRI/OCB/Others

00.29%

Financial Institutions/Banks

2.75%

ADS/GDRs

18.78%

CSR Activities[edit]
HDFC Bank has taken several steps as a part of their Corporate Social Responsibility. It
has collaborated with several NGOs to assist in its activities.
Initiative

Sustainable
Livelihood

Financial

Objective

Activities

Provide empowerment to the Conducts training for occupational skills,


rural section of the country,

credit counselling, capacity building

especially women.

program, sustainable livelihood initiative

Financial literacy in 600

Rural financial literacy programs under the

Literacy

schools across Andhra


Pradesh and Odisha.

Aim to making every child


Education

literate with quality


education.

Training

Community
Initiatives

aegis of RBI.

Friends Union for Energising Lives (FUEL),


cover 100 children under Jayaprakash
Narayan Memorial Trusts Vidya and Child
Programme.

Aimed at formal training and

ETASHA, support SGBS Trust, tied up with

development of youth

Hope Foundation

Focused on sustainable

Partnered with Watershed Organisation

development with economic

Trust (WOTR), promote rain water

growth

harvesting, blood donation campaigns

Awards and Recognition[edit]


2016[edit]
Best Performing Branch in Microfinance among

Award for Best Performance in

Private sector bank by NABARD, 2016

Microfinance[28]

KPMG study of Indias Best Banks

AIMA Managing India Awards 2015

Bank of the Year & Best Digital


Banking Initiative Award 2016[29]

Business Leader of the Year- Aditya


Puri[30]

Finance Asia poll on Asia's Best Companies

Best Managed Public Company-

2015

India[31]

World's 30 Best CEOs - Aditya

Barron's

Puri[32]

Best in class straight Through

J. P Morgan Quality Recognition Award

Processing Rates[33]

2015[edit]
AIMA Managing India Awards 2015

-Business Leader of the Year- Aditya Puri

Barron's

-World's 30 Best CEOs - Aditya Puri

Finance Asia poll on Asia's Best Companies 2015

- Best Managed Public Company-India

Forbes Asia

Fab 50 Companies List for the 8th year

J. P Morgan Quality Recognition Award

- Best in class straight Through Processing Rates

2014[edit]
Euromoney

Euromoney Private Banking and Wealth


Management Survey 2015

FE Best Bank Awards

Best Private Banking Services for Super affluent clients for 5


years in a row at Euromoney Awards

Best Private Banking Services award for Net-worth-specific


services category for Super affluent clients (US$1 million to
US$5 million).

Best Bank in the New Private sector

Business Today - KPMG Study 2014

Businessworld-PwC India Best Banks


Survey 2014

Asiamoney FX Poll 2014

The Asian Banker

Dun & Bradstreet - Polaris Financial


Technology Banking Awards 2014

BrandZ TM Top 50 Most Valuable Indian


Brands study by Millward Brown

Finance Asia Country Awards 2014 and


poll on India's Top Companies

Best Large Bank - Overall

Best Large Bank

- Best Domestic Provider of FX options

Strongest Bank in India in the Asian Banker 500 (AB 500)


Strongest Bank by Balance Sheet Ranking 2014

Best Bank - Managing IT Risk (Large Banks)

India's Most Valuable Brand

Best Bank - India

Controversies[edit]
Money laundering allegations
On 14 March 2013 an online magazine named Cobrapost.com released video footage
from Operation Red Spider showing high-ranking officials and some employees of HDFC
bank and two other leading banks, willing to turn black money into white, a violation
of Money Laundering Control Act.
Following the release of the footage, the Government of India and RBI ordered an inquiry.[48]
[49][50]

The banks under question also conducted investigations of their own. HDFC

appointed Deloitte Touche Tohmatsu to conduct a forensic inquiry. The bank also
appointed Amarchand & Mangaldas & Suresh A Shroff & Co (AMSS), a law firm based in
India, to investigate in association with the internal departmental inquiry, the breaches in the

banks code of conduct and ethical standards by the officials involved. [51] On 16 March 2013,
HDFC released a statement announcing the suspension of over 20 employees involved in
the videotape to ensure fair and unbiased investigation process. [52][53]
The RBI forensic investigation did not reveal any prima facie evidence for the allegations of
money laundering. Deputy Governor at RBI, K.C. Chakrabarty, said in an interview that no
transactions had taken place.[54] The Executive Director of HDFC, Paresh Sukthankar, also
confirmed that their investigations revealed the same on 24 April 2013, "The issue is being
reviewed and investigated from multiple quarters. Clearly, all the investigations have shown
that there have been no instances of transactions actually taking place. Our belief is that the
existing processes seem to have worked in not allowing these transactions to happen." [53]
However, RBI investigations revealed violations of KYC (Know Your Customer) norms, for
which the three banks were imposed penalty, with Rs. 4.5 crores imposed on HDFC. [55]