BANKING IN INDIA

Banking in India originated in the last decades of the 18th century. The first banks were The General Bank of India, which started in 1786, and Bank of Hindustan, which started in 1770; both are now defunct. The oldest bank in existence in India is the State Bank of India, which originated in the Bank of Calcutta in June 1806, which almost immediately became the Bank of Bengal. This was one of the three presidency banks, the other two being the Bank of Bombay and the Bank of Madras, all three of which were established under charters from the British East India Company. For many years the Presidency banks acted as quasi-central banks, as did their successors. The three banks merged in 1921 to form the Imperial Bank of India, which, upon India's independence, became the State Bank of India in 1955. HISTORY Merchants in Calcutta established the Union Bank in 1839, but it failed in 1848 as a consequence of the economic crisis of 1848-49. The Allahabad Bank, established in 1865 and still functioning today, is the oldest Joint Stock bank in India.(Joint Stock Bank: A company that issues stock and requires shareholders to be held liable for the company's debt) It was not the first though. That honor belongs to the Bank of Upper India, which was established in 1863, and which survived until 1913, when it failed, with some of its assets and liabilities being transferred to theAlliance Bank of Simla.

Foreign banks too started to app, particularly in Calcutta, in the 1860s. The Comptoire d'Escompte de Paris opened a branch in Calcutta in 1860, and another inBombay in 1862; branches in Madras and Pondicherry, then a French colony, followed. HSBC established itself in Bengal in 1869. Calcutta was the most

active trading port in India, mainly due to the trade of the British Empire, and so became a banking center. The first entirely Indian joint stock bank was the Oudh Commercial Bank, established in 1881 in Faizabad. It failed in 1958. The next was the Punjab National Bank, established in Lahore in 1895, which has survived to the present and is now one of the largest banks in India. Around the turn of the 20th Century, the Indian economy was passing through a relative period of stability. Around five decades had elapsed since the Indian Mutiny, and the social, industrial and other infrastructure had improved. Indians had established small banks, most of which served particular ethnic and religious communities. The presidency banks dominated banking in India but there were also some exchange banks and a number of Indian joint stock banks. All these banks operated in different segments of the economy. The exchange banks, mostly owned by Europeans, concentrated on financing foreign trade. Indian joint stock banks were generally under capitalized and lacked the experience and maturity to compete with the presidency and exchange banks. This segmentation let Lord Curzon to observe, "In respect of banking it seems we are behind the times. We are like some old fashioned sailing ship, divided by solid wooden bulkheads into separate and cumbersome compartments."

The period between 1906 and 1911, saw the establishment of banks inspired by the Swadeshi movement. The Swadeshi movement inspired local businessmen and political figures to found banks of and for the Indian community. A number of banks established then have survived to the present such as Bank of India,Corporation Bank, Indian Bank, Bank of Baroda, Canara Bank and Central Bank of India.

The fervour of Swadeshi movement lead to establishing of many private banks in Dakshina Kannada and Udupi district which were unified earlier and known by the name South Canara ( South Kanara ) district. Four nationalised banks started in this district and also a leading private sector bank. Hence undivided Dakshina Kannada district is known as "Cradle of Indian Banking".

During the First World War (19141918) through the end of the Second World War (19391945), and two years thereafter until the independence of India were challenging for Indian banking. The years of the First World War were turbulent, and it took its toll with banks simply collapsing despite the Indian economy gaining indirect boost due to war-related economic activities. At least 94 banks in India failed between 1913 and 1918 as indicated in the following table: Number of banks Authorised capital Paid-up Capital that failed (Rs. Lakhs) (Rs. Lakhs) 274 710 56 231 76 209 35 109 5 4 25 1

Years

1913 12 1914 42 1915 11 1916 13 1917 9 1918 7

Post-Independence The partition of India in Bengal, 1947 adversely impacted the for economies months.

of Punjab and West

paralyzing

banking

activities

India's independencemarked the end of a regime of the Laissez-faire for the Indian banking. The Government of India initiated measures to play an active role in the economic life of the nation, and the Industrial Policy Resolution adopted by the government in 1948 envisaged a mixed economy. This resulted into greater involvement of the state in different segments of the economy including banking and finance. The major steps to regulate banking included:
The Reserve Bank of India, India's central banking authority, was established

in April 1934, but was nationalized on January 1, 1949 under the terms of the Reserve Bank of India (Transfer to Public Ownership) Act, 1948 (RBI, 2005b). In 1949, the Banking Regulation Act was enacted which empowered the Reserve Bank of India (RBI) "to regulate, control, and inspect the banks in India". The Banking Regulation Act also provided that no new bank or branch of an existing bank could be opened without a license from the RBI, and no two banks could have common directors.

Nationalisation Despite the provisions, control and regulations of Reserve Bank of India, banks in India except the State Bank of India or SBI, continued to be owned and operated by private persons. By the 1960s, the Indian banking industry had become an important tool to facilitate the development of the Indian economy. At the same time, it had emerged as a large employer, and a debate had ensued about the nationalization of

the banking industry. Indira Gandhi, then Prime Minister of India, expressed the intention of the Government of India in the annual conference of the All India Congress Meeting in a paper entitled "Stray thoughts on Bank Nationalisation." The meeting received the paper with enthusiasm. Thereafter, her move was swift and sudden. The Government of India issued an ordinance ('Banking Companies (Acquisition and Transfer of Undertakings) Ordinance, 1969')) and nationalised the 14 largest commercial banks with effect from the midnight of July 19, 1969. These banks contained 85 percent of bank deposits in the country.Jayaprakash Narayan, a national leader of India, described the step as a "masterstroke of political sagacity." Within two weeks of the issue of the ordinance, the Parliament passed the Banking Companies (Acquisition and Transfer of Undertaking) Bill, and it received the presidential approval on 9 August 1969. A second dose of nationalization of 6 more commercial banks followed in 1980. The stated reason for the nationalization was to give the government more control of credit delivery. With the second dose of nationalization, the Government of India controlled around 91% of the banking business of India. Later on, in the year 1993, the government merged New Bank of India with Punjab National Bank. It was the only merger between nationalized banks and resulted in the reduction of the number of nationalised banks from 20 to 19. After this, until the 1990s, the nationalised banks grew at a pace of around 4%, closer to the average growth rate of the Indian economy. Liberalisation In the early 1990s, the then Narasimha Rao government embarked on a policy of liberalization, licensing a small number of private banks. These came to be known as New Generation tech-savvy banks, and included Global Trust Bank (the first of such new generation banks to be set up), which later amalgamated with Oriental Bank of Commerce, UTI Bank (since renamed Axis Bank), ICICI

Bank and HDFC Bank. This move, along with the rapid growth in the economy of India, revitalized the banking sector in India, which has seen rapid growth with strong contribution from all the three sectors of banks, namely, government banks, private banks and foreign banks. The next stage for the Indian banking has been set up with the proposed relaxation in the norms for Foreign Direct Investment, where all Foreign Investors in banks may be given voting rights which could exceed the present cap of 10%,at present it has gone up to 74% with some restrictions. The new policy shook the Banking sector in India completely. Bankers, till this time, were used to the 4-6-4 method (Borrow at 4%;Lend at 6%;Go home at 4) of functioning. The new wave ushered in a modern outlook and tech-savvy methods of working for traditional banks.All this led to the retail boom in India. People not just demanded more from their banks but also received more. Currently (2010), banking in India is generally fairly mature in terms of supply, product range and reach-even though reach in rural India still remains a challenge for the private sector and foreign banks. In terms of quality of assets and capital adequacy, Indian banks are considered to have clean, strong and transparent balance sheets relative to other banks in comparable economies in its region. The Reserve Bank of India is an autonomous body, with minimal pressure from the government. The stated policy of the Bank on the Indian Rupee is to manage volatility but without any fixed exchange rate-and this has mostly been true. With the growth in the Indian economy expected to be strong for quite some timeespecially in its services sector-the demand for banking services, especiallyretail banking, mortgages and investment services are expected to be strong. One may also expect M&As, takeovers, and asset sales. In March 2006, the Reserve Bank of India allowed Warburg Pincus to increase its stake in Kotak Mahindra Bank (a private sector bank) to 10%. This is the first time

an investor has been allowed to hold more than 5% in a private sector bank since the RBI announced norms in 2005 that any stake exceeding 5% in the private sector banks would need to be vetted by them. In recent years critics have charged that the non-government owned banks are too aggressive in their loan recovery efforts in connection with housing, vehicle and personal loans. There are press reports that the banks' loan recovery efforts have driven defaulting borrowers to suicide.

Adoption of banking technology The IT revolution had a great impact in the Indian banking system. The use of computers had led to introduction of online banking in India. The use of the modern innovation and computerisation of the banking sector of India has increased many fold after the economic liberalisation of 1991 as the country's banking sector has been exposed to the world's market. The Indian banks were finding it difficult to compete with the international banks in terms of the customer service without the use of the information technology and computers. The RBI in 1984 formed Committee on Mechanisation in the Banking Industry (1984) whose chairman was Dr C Rangarajan, Deputy Governor, Reserve Bank of India. The major recommendations of this committee was introducing MICR Technology in all the banks in the metropolis in India.This provided use of standardized cheque forms and encoders. In 1988, the RBI set up Committee on Computerisation in Banks (1988) headed by Dr. C.R. Rangarajan which emphasized that settlement operation must be computerized in the clearing houses of RBI in Bhubaneshwar, Guwahati, Jaipur, Patna and Thiruvananthapuram.It further stated that there should be National Clearing of inter-city cheques at Kolkata,Mumbai,Delhi,Chennai and MICR should be made Operational.It also focused on computerisation of branches and increasing

connectivity among branches through computers.It also suggested modalities for implementing on-line banking.The committee submitted its reports in 1989 and computerisation began form 1993 with the settlement between IBA and bank employees' association. In 1994, Committee on Technology Issues relating to Payments System, Cheque Clearing and Securities Settlement in the Banking Industry (1994) was set up with chairman Shri WS Saraf, Executive Director, Reserve Bank of India. It emphasized on Electronic Funds Transfer (EFT) system, with the BANKNET communications network as its carrier. It also said that MICR clearing should be set up in all branches of all banks with more than 100 branches. Committee for proposing Legislation On Electronic Funds Transfer and other Electronic Payments (1995) emphasized on EFT system. Electronic banking refers to DOING BANKING by using technologies like computers, internet and networking,MICR,EFT so as to increase efficiency, quick service,productivity and transparency in the transaction. Apart from the above mentioned innovations the banks have been selling the third party products like Mutual Funds, insurances to its clients.Total numbers of ATMs installed in India by various banks as on end March 2005 is 17,642.The New Private Sector Banks in India is having the largest numbers of ATMs which is fol off site ATM is highest for the SBI and its subsidiaries and then it is followed by New Private Banks, Nationalised banks and Foreign banks. While on site is highest for the Nationalised banks of India. BANK GROUP NATIONALISED NUMBER BRANCHES OF ON SITE OFF SITE TOTAL ATM 3205 1548 800 ATM 1567 3672 441 ATM 4772 5220 1241

33627 BANKS STATE BANK OF INDIA 13661 OLD PRIVATE SECTOR 4511 BANKS

NEW PRIVATE SECTOR BANKS FOREIGN BANKS

1685 242

1883 218

3729 579

5612 797

STRUCTURE OF INDIAN BANKING INDUSTRY Banking Industry in India functions under the sunshade of Reserve Bank of India the regulatory,central bank. Banking Industry mainly consists of: Commercial Banks Co-operative Banks The commercial banking structure in India consists of: Scheduled Commercial Banks Unscheduled Bank. Scheduled commercial Banks constitute those banks which have been included in the Second Schedule of Reserve Bank of India (RBI) Act, 1934. RBI in turn includes only those banks in this schedule which satisfy the criteria laid down vide section 42 (60) of the Act. Some co-operative banks are scheduled commercial banks although not all co-operative banks are. Being a part of the second schedule confers some benefits to the bank in terms of access to accommodation by RBI during the times of liquidity constraints. At the same time, however, this status also subjects the bank certain conditions and obligation towards the reserve regulations of RBI. For the purpose of assessment of performance of banks, the Reserve Bank of India categorise them as public sector banks, old private sector banks, new private sector banks and foreign banks.

COMPANY PROFILE
Axis Bank was the first of the new private banks to have begun operations in 1994, after the Government of India allowed new private banks to be established. The Bank was promoted jointly by the Administrator of the specified undertaking of the Unit Trust of India (UTI - I), Life Insurance Corporation of India (LIC) and General Insurance Corporation of India (GIC) and other four PSU insurance companies, i.e. National Insurance Company Ltd., The New India Assurance Company Ltd., The Oriental Insurance Company Ltd. and United India Insurance Company Ltd. The Bank as on 30th June, 2012 is capitalized to the extent of Rs. 414.29 crores with the public holding (other than promoters and GDRs) at 54.24%. The Bank's Registered Office is at Ahmedabad and its Central Office is located at Mumbai. The Bank has a very wide network of more than 1600 branches (including 169 Service Branches/CPCs as on 30th June, 2012). The Bank has a network of over 10000 ATMs (as on 30th June, 2012) providing 24 hrs a day banking convenience to its customers. This is one of the largest ATM networks in the country. The Bank has strengths in both retail and corporate banking and is committed to adopting the best industry practices internationally in order to achieve excellence.

VISION 2015: To be the preferred financial solutions provider excelling in customer delivery through insight, empowered employees and smart use of technology Core Values Customer Centricity Ethics Transparency Teamwork Ownership

AWARDS Awards & recognition received by the Bank during the Year 2011: Best Risk Master award - (private sector category) - 'FIBAC 2011 Banking Awards' Most Productive Private Sector Bank Award - 'FIBAC 2011 Banking Awards' Ranked 3rd Strongest Bank in Asia Pacific region by Asian Banker The CLSA survey on personal banking trends validated again that Axis is the preferred bank amongst retail consumers. Best Bond house India - 2011 by Finance Asia Awards & recognition received by the Bank during the Year 2010: Euromoney Best Debt House in India Asiamoney Best Domestic Debt House in India Financeasia Best Bond House in India FE Best Banks Award Best New Private Sector Bank, Rank 2 Forbes Fab 50 The Best of Asia-Pacifics Biggest Listed Companies- second year in a row The Asset Triple A Country Awards 2010: Best Domestic Bank, India

 Best Domestic Bond House, India. Business Today Best Bank Awards - Overall Winner & Consistent Performer -(Large Banks Category) Business World Best Bank Award- Fastest Growing Large Bank Ranked No. 1 in "overall experience with bank staff" and "overall branch facilities" by The Hindustan Times-MaRS Survey Report dated, 29th March, 2010

BOARD OF DIRECTORS

NETWORK
The Bank's Registered Office is situated in Ahmedabad and its Central Office is located at Mumbai. The Bank has an extensive network of more than 1600 branches (including 169 Service Branches/CPCs as on 31st March, 2012). The Bank has a network of over 10000 ATMs (as on 31st March, 2012) Axis Bank operates one of the worlds highest ATM sites at Thegu, Sikkim (at a height of 13,200 feet above sea level) and has the largest ATM network among private banks in India.

PROMOTERS
Axis Bank Ltd. has been promoted by the largest and the best Financial Institution of the country, UTI. The Bank was set up with a capital of Rs. 115 crore, with UTI contributing Rs. 100 crore, LIC - Rs. 7.5 crore and GIC and its four subsidiaries contributing Rs. 1.5 crore each. SUUTI - Shareholding 23.47% Erstwhile Unit Trust of India was set up as a body corporate under the UTI Act, 1963, with a view to encourage savings and investment. In December 2002, the UTI Act, 1963 was repealed with the passage of Unit Trust of India (Transfer of Undertaking and Repeal) Act, 2002 by the Parliament, paving the way for the bifurcation of UTI into 2 entities, UTI-I and UTI-II with effect from 1st February 2003. In accordance with the Act, the Undertaking specified as UTI I has been transferred and vested in the Administrator of the Specified Undertaking of the Unit Trust of India (SUUTI), who manages assured return schemes along with 6.75% US-64 Bonds, 6.60% ARS Bonds with a Unit Capital of over Rs. 14167.59 crores. The Government of India has appointed Shri K. N. Prithviraj as the Administrator of the Specified undertaking of UTI, to look after and administer the schemes under UTI - I, where Government has continuing obligations and commitments to the investors, which it will uphold.

BUSINESS FOCUS
Axis Bank operates in four segments: treasury operation, retail banking, corporate/wholesale banking, and other banking business. Treasury Operations 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. Retail Banking 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 nonresident Indian (NRI) services. Corporate/Wholesale Banking The Bank offers to corporate and other organizations services including corporate relationships 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.

PRODUCTS
Savings Account Easy Access Savings Account Prime Savings Account Corporate Salary Account Defense Salary Account Current Account Business Prime Business Advantage Current Account Business Select Cur rent Account Business Classic Cur rent Account Business Global Cur rent Account Business Priority Business Privilege Current Account Channel One Cur rent Account Business Wealth CLUB 50 Cur rent Account Salary Account

Investment Product Gold and Silver Mohur Mutual Funds Life Insurance General Insurance Gold And Silver Mohur Certified Gold and Silver bars Mutual Funds Axis Bank offers options from 12mutual fund companies. Life Insurance Axis Bank has a corporate agency agreement with Max New York Life , one of the most reputed Life Insurance companies in India. General Insurance Axis Bank has a Corporate Agency partnership with Bajaj Allianz General Insurance Company to distribute General Insurance products. The various General Insurance products available for sale at Axis Bank branches are: Health Insurance Motor Insurance Jewellery Insurance Personal Accident Cover Home Insurance Travel Insurance Critical Illness Business Advantage

Loans Home Loans Car Loans Personal Loans Loans Against Property Loans Against Share Loans Against Securities Cards Titanium Smart Traveler Credit Cards Platinum Advantage Credit Card Visa Signature Credit Card Visa Infinite Credit Card Titanium Rewards Card An upgrade for mass and prime Debit Card customers. Prepaid Cards MyMoney Card Gift Cards MyMoney Card A prepaid card for parents to disburse pocket money and monthly expenditure to kids Gift Card Agri Business Loans

Kisan Power Power Gold Arthia Power Agro Power Kisan power Kisan Power aims at providing adequate and timely credit to farmers for various needs. It gives farmers the flexibility to choose between cash ,credit and term loans with friendly repayment terms. Loan tenure is fixed by allowing reasonable period for marketing the agricultural produce after harvest of the crop, subject to maximum of 1 year in case of cash or credit, and 7 years for term loans. Power Gold Power Gold gives easy loans up to 15, 00,000 to individuals engaged in agriculture or allied activities, against the pledge of Gold ornaments. Arthia Power Arthia Power is a loan facility to local Arthias . Foreign Exchange Travel Card Outward Remittances Foreign Currency Demand Drafts Foreign Currency Cash Foreign Currency Travelers Cheques India Travel Card Travel Card

Axis Bank became the first bank in the world to cross USD 2 billion in loading on such cards in December 2011. Outward Remittances Foreign Currency Demand Drafts Foreign Currency Cash Foreign Currency Travelers Cheque India Travel Card Inward Remittances AXISREMIT Online AXISREMIT Direct Money Transfer Operators -(Money Gram, Easy Remit, Express Money) Wire Transfers Axis Remit Online Our online money transfer service helps NRIs from 8 geographies (USA,UK, Canada, Euro Zone , Australia,Singapore, Hong Kong and UAE) remit money to India in a safe and convenient manner. Salient Features Superior Exchange Rates Zero Transaction Charges Remittance to over 1400 Axis Bank branches and 77000 other bank branches Online tracking of your funds Reliable Customer Service for any queries Axis Remit Direct This is a quick and easy way to remit money back home through our partner Exchange Houses in the Middle East.

Salient Features Available to everyone Axis Bank customers and non-Axis Bank customers Instant credits to accounts held with Axis Bank in India Credit within 24 hours to over 72000 non-Axis Bank branches Real-time alerts via email / SMS Money Transfer Operators Allows the customer to send money from across 191 countries to beneficiaries in India. Wire Transfers This facility to transfer funds to Axis Bank Nostroaccount in these currencies Maybank, Malaysia and Bank AlBilad,Saudi Arabia are our main partners for this. Online Trading Axis Direct 3-IN-1 online Trading Account Through Axis Direct 3-in-1 online trading account, Savings and Demat accounts are offered by Axis Bank while the trading account is held with Axis Securities and Sales Ltd.

MARKET SHARE
Name of bank State Bank of India PNB Bank of Baroda ICICI Bank Bank of India HDFC IDBI Bank Axis Bank Central Bank of India Other Banks Source : ICRA Research Market Share 18 6 5 5 5 4 4 3 3 47

State Bank of India 18%

Other Banks 47%

PNB 6% Bank of Baroda 5% ICICI Bank 5% Bank of India 5% HDFC 4% IDBI Bank 4%

Central Bank of India Axis Bank 3% 3%

OPERATIONS
The business model of the Bank has separated production and distribution functions within the Bank, with transaction processing and customer databases (production

technology) becoming increasingly centralised and product sales and customer handling (the distribution technology) being the primary function at the branches. The separation of functions has helped reduce transaction costs besides ensuring smoothness in operations and increasing productivity. Operational processes were constantly refined during the year from the perspective of implementation of best practices, risk identification and containment. Operational instructions were revisited on a continual basis and efforts were made to minimise risks at branches. Retail Banking Operations Retail Banking Operations (RBO) provides seamless service to retail customers while ensuring secure and compliant systems for risk containment and regulatory compliance. The Bank continued to strengthen the oversight function through centralised monitoring of the working of the branches in respect of KYC, AML and other regulatory compliances, cash management, clearing operations and internal housekeeping with the objective of ensuring compliance with risk guidelines and delivering operational efficiency and customer service. To ensure enhanced customer service and better handling of cash, the Bank has installed note sorting machines at cash intensive branches. The Bank has implemented the Clean Note Policy of RBI across all branches of the Bank. The Bank has been appointed as the Primary Clearing House at certain places. A currency chest was operationalised at Guwahati, making the first private sector bank, to have a currency chest in the North East. Wholesale Banking Operations The Wholesale Banking Operations (WBO) is responsible for providing best in class services to non-retail customers of the Bank through four verticals: Corporate Banking Operations, Treasury Operations, Trade and Forex Operations, and Centralised Collection and Payment Hub.

The Corporate Banking Operations (CBO) involves delivery, control, monitoring and administration of credit facilities of large and mid-corporates, SME, corporate agriculture, channel finance and micro finance transactions. CBO operates through a network comprising of Corporate Banking Branches (CBBs)/Credit Management Centres (CMCs) at 8 major cities, 52 MiniCredit Management Centres (MCMCs) at Tier II cities, and Corporate Credit Operations Hub (CCOH) at Hyderabad. Treasury Operations provides operational support to the Banks Treasury and operates the centralised electronic payment hubs for RTGS and NEFT. Trade and Forex Operations (TFO) supervise and control the entire cross border trade and foreign exchange operations of the Bank. TFO provides trade finance and retail forex services to corporates, full-fledged money changers (FFMCs) and individuals through 197 B-category branches and state-of-the-art centralised knowledge processing centres viz. Trade Finance Centres located at Mumbai and Hyderabad. TFO is also responsible for ensuring compliance of regulatory and internal guidelines in respect of foreign exchange transactions of the Bank.The Banks payment service is one of the key differentiating services for all customer segments. In order to enhance speed, scalability and straight through processing by technological advancement, the Bank has launched a plan of introducing an Enterprise Payment Hub to handle all types of payment services through a centralised and channel agnostic processing engine.

FINANCIAL HIGHLIGHTS
FINANCIAL HIGHLIGHTS Total Deposits - Saving Bank Deposits - Current Account Deposits Total Advances - Retail Advances Total Investments Shareholders' Funds Total Assets/Liabilities 2007 - 2008 87, 6 26 . 22 19,982.41 20,044.58 59 , 6 61.14 13,591.68 33 ,70 5 .10 8,768.50 10 9,57 7. 85 2008 - 2009 2009 - 2010 2010 - 2011 2011 - 2012

117, 3 74 .11 141,300.22 25 , 8 2 2.12 33,861.80 24,821.61 81,556.77 16,051.78 46,330.35 10,213.59 147,722.0 5 3 2 ,16 7.74 104,340.95 20,820.73 55,974.82 16,044.45

18 9, 2 37. 8 0 220,104.30 40,850.31 3 6 ,917.0 9 51,667.96 39,754.07

142, 4 07. 8 3 169,759.54 27,759.23 71,991.62 18,998.83 37,570.33 93,192.09 22,808.54 285,627.79

18 0, 6 47. 85 242,713.37

Net Interest Income Other Income Operating Revenue Operating Expenses Operating Proft Provisions and Contingencies Net Proft

2,585.35

3,686.21

5,004.49 3,945.78 8,950.27

6,562.99 4 , 6 32.13 11,19 5 .12

8,017.75 5,420.22 13,437.97

1,795.49 4,380.84 2,896.88 6,583.09

2,154.92

2,858.21

3,709.72 5,240.55 2,726.02

4,779.43 6,415.69 3,027.20

6,007.10 7,430.87 3,188.66

2,225.92 1,154.89 3,724.88 1,909.52

1,071.03

1,815.36

2,514 .53

3,388.49

4,242.21

FINANCIAL RATIOS
FINANCIAL RATIOS Earnings Per Share (Basic) (in `) Book Value (in `) Return on Equity Return on Assets Capital Adequacy Ratio (CAR) Tier I Capital (CAR) Dividend Per Share (in `) Dividend Payout Ratio 2007 - 2008 32.15 24 5 .14 16.09 1.24 13.73 10 .17% 6.00 23.49% 2008 - 2009 50.61 284.50 19.93 1.44 13.69 9.26% 10.00 2 3 .16 % 2009 - 2010 65.78 395.99 19.89 1.67 15.80 11.18 % 12.0 0 22.57% 2010 - 2011 82.95 462.77 20.13 1.68 12.65 9.41% 14.00 19.78% 2011 - 2012 102.94 551.99 21.22% 1.68% 13.66% 9.45% 16.00 18.15%

FINANCIAL PERFORMANCE