Fundamental Analysis in Banking Sector

Fundamental Analysis in Banking Sector
A PROJECT REPORT
Submitted by
MS. NANDHINI NADAR
SEAT NO. 04
UNDER THE GUIDANCE OF
PROF. WILSON D. NADAR
In partial fulfillment for the award of the degree

Of
Bachelor of Commerce (Financial Markets)
SUBMITTED TO
UNIVERSITY OF MUMBAI
THROUGH
LN COLLEGE
Rajendar Nagar, Near Gen. Kariappa Bridge,
Borivali – E, Mumbai - 400066

Fundamental Analysis in Banking Sector
A PROJECT REPORT
Submitted by
MS. NANDHINI NADAR
SEAT NO. 04
UNDER THE GUIDANCE OF
PROF. WILSON D. NADAR
In partial fulfillment for the award of the degree

Of
Bachelor of Commerce (Financial Markets)
SUBMITTED TO
UNIVERSITY OF MUMBAI
THROUGH
LN COLLEGE

LN COLLEGE
BONAFIDE CERTIFICATE
Certified that this project report titled “Fundamental Analysis in banking
Sector”is the bonafide work of “Ms. Nandhini Nadar” who carried out the
project work under my supervision. Certified that the above mentioned project
has been duly carried out as per the norms of the college and statutes of the
university
SIGNATURE SIGNATURE
Internal Guide Course Coordinator
SIGNATURE SIGNATURE
External Examiner Principal

Declaration
I, Ms. Nandhini Nadar a bonafide student of B.COM (Financial

Markets) in LN College in University of Mumbai would like to
declare that the project entitled “Fundamental Analysis in banking
Sector” submitted by me in partial fulfillment of the requirements for
the award of the Degree of B.COM (Financial Markets) is my original
work.
Place:
Date: Signature of the Candidate

Acknowledgement:
The success and final outcome of this project required a lot of guidance and assistance from
many people and I am extremely privileged to have got this all along the completion of my
project. All that I have done is only due to such supervision and assistance and I would not
forget to thank them.

I respect and thank our beloved Principal and all members of the coaching staff of My LN
College, Borivali (East) MUMBAI – 400 066 for providing me an opportunity to do the
project work for partial fulfillment for the award of the degree Of Bachelor of Commerce
(Financial Markets) and giving me all support and guidance which made me complete the
project duly. I am extremely thankful to all of them for providing such a nice support and
guidance, although they had busy schedule managing the college affairs and full day of hectic
schedule.
I owe my deep gratitude to our project Guide & Coordinator PROF. WILSON D. NADAR,
who took keen interest on my project work and guided me all along, till the completion of my
project work by providing all the necessary information for developing a good system.
I am equally thankful to my major support for completion of my project PROF.

GHANSHYAM S. WAGHELA for providing me some very crucial information on the
subject and encouraging me.

I would not forget to remember Mr. Rajesh Sharma and Mr. Ketan Desai of S D Associates
for their encouragement and more over for their timely support and guidance till the
completion of our project work.
Also I would like to thank Advocate Sandeep M. Jani who gave most useful tips for
preparation of this project and who guided me for all the systems for better presentation of
this report on computer.

Last, but not the least, I am thankful to and fortunate enough to get constant encouragement,
support and guidance from all Teaching staffs of LN College, commerce stream which helped
me in successfully completing my project work. Also, I would like to extend my sincere
esteems to all staff in library for their timely support.
Executive summary:
Banking industry which is basically my concern industry around which my project has to be
revolved is really a very complex industry. In the financial system, the players can be broadly
classified into the following groups : Public sector banks , Private sector banks, Foreign
banks, co-operative banks , all- Indian financial institutions and non- banks. The term
“Fundamental analysis in banking sector” is generally refers to analysis the commercial
banks : Balance sheet, Profit & Loss, Cash flow, Ratio & Yearly financial summary.
The topic of this project is “Analysis Of Bank's financial statements”
Because of the following reason, I prefer this project work –
Banking is an essential industry. It is where we often wind up when we seeking a problem in

financial crisis and money related query. Banking is one of the most regulated businesses in
the world.
Finding from the study show that the Key financial ratio to analysis the Retail banks like, The
Retail Banking industry, Net Interest Margin, The Loan- to- Assets Ratio, The Return- on-
Assets Ratio. The idea of this study is to analysis the banks performance and increases the
speed of economic activities. It is beneficial for the banks as well as customers also . India's
financial system is currently undergoing a period of revolutionary changes so much so that, in
the very initial phase of the next millennium, its face may be totally unrecognizable.
TABLE OF CONTENTS:
CHAPTE CONTENT PAGE

R NO. NO.
1 OVERVIEW OF BANKING SYSTEM:
1.1 Introduction
1.2 RBI as Central bank Of India
1.3: State Bank of India

1.4 Nationalisation Of Banks
1.5 Regional Rural banks

1.6 Local Area Banks
1.7 New Private Sector Banks

1- 6
1.8 Structure OF Banks In India
Scheduled Banks
Non-Scheduled Banks
1.9 Types Of Banks In India

Commercial Banks
Cooperative Banks
Development Banks
2 Commercial Banks In India
2.1 Public Sector Banks 7-8
2.2 Private Sector Banks
2.3 Foreign Banks
3 AXIS BANK
Company Profile 9
3.1 History 10 - 11
3.2 Operations 11
3.3 Services 11 - 12
3.4Contraveries 12
3.5 Initiatives 13
3.6 Subsidiaries 14
3.7 Listing & Share Holdings 14
4 ICICI BANK
Company Profile 27
4.1 History 27 - 28
4.2 Acquisition 28 - 29
4.3 Role In Indian Financial Infrastructure 29 - 30
4.4Services 30 - 31
4.5 Social Responsibility 32
5 HDFC BANK
Company Profile 46
5.1 History 47
5.2 Product & Services 47
5.3 Acquisitions 47
5.4Listing & Share Holdings 47
5.5 Amalgamation 48
5.6 Capital Structure 48
6 Some important Aspects Of banking Sector in

Emerging India:
Role Of banks in development Of Economy
60 - 65
Growth in banking sector deposits
A year of rapid development in banking sector
Is banking sector a good choice for value Investing?
7 Conclusion 66
8 Summary of Suggestions & Recommendations for 67 - 70

banking sector in India
9 Bibliography 71
LIST OF TABLES:
Description Page No.

AXIS BANK
Balance Sheet last Five Years 15 - 16

Profit & Loss accounts last Five Years 16 - 17
Share Price Chart 18
Standalone Income Statement 19 - 20
Consolidated Income Statement 20 - 21
Ratio Analysis 22
Dividend History Chart 23
Promoters Share Holdings 23
Public Share Holdings 24 - 25
Peers Price Comparison 26
ICICI BANK

Profit & Loss accounts last Five Years 35 - 36
Consolidated Income Statement 39 - 40
Ratio Analysis 41
Public Share Holdings 44
HDFC BANK

Profit & Loss accounts last Five Years 51
Consolidated Income Statement 55
Ratio Analysis 56
Public Share Holdings 58
Fundamental Analysis In Banking Sector (T. Y. BFM)
Overview of Banking System.
1.1 Introduction:
Banks are a subset of the financial services industry. It is a financial institution that provides
banking and other financial services to their customers. A bank is generally understood as an
institution which provides fundamental banking services such as accepting deposits and
providing loans. The banks safeguards the money and valuables and provide loans, credit,
and payment services, such as checking accounts, money orders, and cashier’s cheques and
some banks also offer investment and insurance products. Due to their critical status within
the financial systems and the economy, banks are subject to stringent regulations. Mr. W.E.
Preston, member of Royal Commission on Indian Currency and Finance set up in 1926
observed that “it may be accepted that a system of banking that was eminently suited to
India’s then requirements was in force in that country many centuries before the science of
banking became an accomplished fact in England”.
The genesis of Indian banking system could be traced in the Vedic times and the existence of
professional banking could be traced back to the 500 BC. Further, Aryans treated money
lending as one of the four honest callings, the other three being “tillage, trading and
harvesting.” An indigenous banking system was being carried out by the businessmen called
Sharoffs, Seths, Sahukars, Mahajans, Chettis, etc. since ancient time. They performed the
usual functions of lending moneys to traders and craftsmen and sometimes placed funds at
the disposal of kings for financing wars. The indigenous bankers could not, however, develop
to any considerable extent the system of obtaining deposits from the public, which today is an
important function of a bank. Modern 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 the
Bank of Hindustan. Thereafter, three presidency banks namely the Bank of Bengal (this bank
was originally started in the year 1806 as Bank of Calcutta and then in the year 1809 became
the Bank of Bengal) , the Bank of Bombay (1840) and the Bank of Madras (1843), were set
up. For many years the Presidency banks acted as quasi-central banks with the exclusive right
to issue paper currency till 1861, but with the Paper Currency Act, the right was taken over
by the Government of India. Later, in 1921, the three banks were amalgamated and the re-
organised to form Imperial Bank of India. The Imperial Bank of India remained a joint stock
company but without Government participation. The three banks merged in 1925 to form the
Imperial Bank of India. Indian merchants in Calcutta established the Union Bank in 1839, but
it failed in 1848 as a consequence of the economic crisis of 1848-49. Bank of Upper India
was established in 1863 but failed in 1913. The Allahabad Bank, established in 1865 , is the
oldest survived Joint Stock bank in India . Oudh Commercial Bank, established in 1881 in
Faizabad, failed in 1958. The next was the Punjab National Bank, established in Lahore in
1895, which is now one of the largest banks in India. The Swadeshi movement inspired local
businessmen and political figures to found banks of and for the Indian community during
1906 to 1911. A number of banks established then have survived to the present such as Bank
11 | Page
of India, Corporation Bank, Indian Bank, Bank of Baroda, Canara Bank and Central Bank of
India. A major landmark in Indian banking history took place in 1934 when a decision was
taken to establish ‘Reserve Bank of India’ which started functioning in 1935. Since then,
RBI, as a central bank of the country, has been regulating banking system.
1.2 Reserve Bank of India as a Central Bank of the Country:

The Reserve Bank of India (RBI) was set up on the basis of the recommendations of the
Hilton Young Commission. The RBI Act, 1934 provides the statutory basis of the functioning
of the Bank, which commenced operations on April 1, 1935. The RBI, which was originally
set up as a shareholder’s bank, covered the entire undivided India. It replaced the Imperial
Bank of India and started issuing the currency notes and acting as the banker to the
government. Imperial Bank of India was allowed to act as the agent of the RBI. Thereafter, in
order to have close integration between policies of the Reserve Bank and those of the
Government, it was decided to nationalize the Reserve Bank immediately after the
independence of the country. From 1st January 1949, the Reserve Bank began functioning as
a State-owned and State-controlled Central Bank. To further streamline the functioning of
commercial banks, the Government of India enacted the Banking Companies Act,1949 which
was later changed as the Banking Regulation Act 1949.
Since its inception, RBI has been instrumental in the overall development of the Indian
economy institutional development. It acts as a regulator of banks, controller of financial
systems, banker to the Government and banker’s bank. RBI focuses in areas like Monetary
Policy, Bank Supervision and Regulation and monitoring developments in the financial
markets.
1.3 State Bank of India and its Associate ( subsidiaries ) Banks – A New
channel of Rural Credit:
In order to serve the economy in general and the rural sector in particular, the All India Rural
Credit Survey Committee recommended the creation of a state-partnered and state-sponsored
bank by taking over the Imperial Bank of India, and integrating with it, the former state-
owned or state-associate banks. An act was accordingly passed in Parliament in May 1955
and the State Bank of India was constituted on 1 July 1955. Later, the State Bank of India
(Subsidiary Banks) Act was passed in 1959, enabling the State Bank of India to take over
eight former State-associated banks as its subsidiaries (later named Associates). The State
Bank of India was thus born with a new sense of social purpose. Associate Banks of State
Bank of India viz., State Bank of Hyderabad, State Bank of Mysore, State Bank of Bikaner
and Jaipur, State Bank of Travancore, State Bank of Patiala, State Bank of Indore, State Bank
of Saurashtra have been working as per the guidance of State Bank of India. Two banks viz.
State Bank of Patiala and State Bank of Hyderabad are fully owned by State Bank of India
and in other Associate Banks, the majority of shareholdings are with the SBI. Out of these
associate banks, two banks viz., State Bank of Indore and State Bank of Saurashtra have been
12 | Page
merged with the State Bank of India and merger of the remaining five banks is under process.
State Bank of India and its associate Banks were given preferential treatment by RBI over the
other commercial banks, by appointing them as an agent of RBI for transacting Central and
State Government business as well as setting up of currency chests for the smoother cash
management in the country .
1.4 Nationalization of Banks for implementing Government Policies:

The history of nationalization of Indian banks dates back to the year 1955 when the Imperial
Bank of India was nationalized and re-christened as State Bank of India (under the SBI Act,
1955). Later, in July1960, the subsidiaries of SBI (Associates) were also nationalized.
On July 19, 1969 the Government of India issued an ordinance and nationalized 14 major
commercial Banks. This was considered as a major revolution in the Indian banking system.
1. Allahabad Bank
2. Bank of Baroda
3. Bank of India
4. Bank of Maharashtra
5. Canara Bank
6. Central Bank of India
7. Dena Bank
8. Indian Bank
9. Indian Overseas Bank
10. Punjab National Bank
11. Syndicate Bank
12. Union Bank of India
13. United Bank of India
14. United Commercial Bank (now known as UCO bank)
In 1980, six other commercial banks with deposits of above ` 200 crores were nationalized :
1. Andhra Bank
13 | Page
2. Corporation Bank
3. New Bank of India
4. Punjab and Sind Bank
5. Oriental Bank of Commerce
6. Vijaya Bank
Later on the New Bank of India was merged with Punjab Nationalized Bank.
The nationalization of banks resulted in rapid branch expansion which led to many fold
increase in the number of commercial bank branches in Metro, Urban, Semi – Urban and
Rural Areas. The branch network assisted banks in mobilizing deposits and accelerated
economic activities on account of priority sector lending.
The purpose of nationalization was:
(a) to increase the presence of banks across the nation.
(b) to provide banking services to different segments of the Society.
(c) to change the concept of class banking into mass banking, and
(d) to support priority sector lending and growth.
1.5 Regional Rural Bank:
In 1975, a new set of banks called the Regional Rural Banks, were setup based on the
recommendations of a working group headed by Shri Narasimham, to serve the rural
population by providing banking and credit facility to agriculture and other rural sectors. The
development process of RRBs started on 2 October 1975 with the forming of the first RRB,
the Prathama Bank. The shares of RRBs owned were held by the Central Government, the
State Government and the Sponsor Bank who in the ratios of 3:1:1. Inception of regional
rural banks (RRBs) can be seen as an unique experiment as well as experience in improving
the efficacy of rural credit delivery mechanism in India. With joint shareholding by Central
Government, the concerned State Government and the sponsoring bank, an effort was made
to integrate commercial banking within the broad policy thrust towards social banking
keeping in view the local peculiarities. RRBs were expected to play a vital role in mobilizing
the savings of the small and marginal farmers, artisans, agricultural labourers and small
entrepreneurs and inculcate banking habit among the rural people. These institutions were
also expected to plug the gap created in extending the credit to rural areas by largely urban-
oriented commercial banks and the rural cooperatives, which have close contact with rural
areas but fall short in terms of funds.
1.6 Local area Banks:
14 | Page
The Local Area Bank Scheme was introduced in 1996 pursuant to the announcement made by
the then Finance Minister in his budget speech. These were set up as private local banks with
jurisdiction over two or three contiguous districts to enable the mobilization of rural savings
by local institutions and make them available for investments in the local areas. They are
expected to bridge the gaps in credit availability and enhance the institutional credit
framework in rural and semi-urban areas. Although the geographical area of operation of
such banks is limited, they are allowed to perform all functions of a scheduled commercial
bank.
The Raghuram Rajan Committee had envisaged these local area banks as private, well-
governed, deposit-taking small-finance banks. They were to have higher capital adequacy
norms, a strict prohibition on related party transactions, and lower concentration norms to
offset chances of higher risk from being geographically constrained. Six entities were given
licenses to operate LABs byRBI but onlry four are functioning. Of these four banks, Capital
Local Area Bank for more than 70 per cent of total assets of all four LABs taken together as
on 31st March, 2012 .
1.7 New Private Sector Banks:
In 1991, the Narasimham committee recommended that banks should increase operational
efficiency, strengthen the supervisory control over banks and the new players should be
allowed to create a competitive environment. Based on the recommendations, Banking
regulations act was amended in 1993 and new private banks were allowed to start
functioning.
1.8 Structure of Banks in India:
Banks can be classified into scheduled and non- scheduled banks based on certain factors
(a) Scheduled Bank:
Scheduled Banks in India are the banks which are listed in the Second Schedule of the
Reserve Bank of India Act, 1934. The scheduled banks enjoy several privileges as
compared to non- scheduled banks. Scheduled banks are entitled to receive refinance
facilities from the Reserve Bank of India. They are also entitled for currency chest
facilities. They are entitled to become members of the Clearing House. Besides
commercial banks, cooperative banks may also become scheduled banks if they fulfill the
criteria stipulated by RBI.
As on 30th June, 2014, there were 146 scheduled commercial anks of which there were
56 RRBs
No. of branches of Scheduled Commercial Banks as on 30th June, 2014:
Bank group Rural Semi- urban Urban Metropolitan Total
15 | Page
No. of Reporting 44624 31412 22086 19725 117847

offices
(b) Non-scheduled banks:
These are those banks which are not included in the Second Schedule of the Reserve Bank of
India. Usually the banks which do not conform to the norms of the Reserve Bank of India
within the meaning of the RBI Act or according to specific functions etc. or according to the
judgement of the Reserve Bank, are not capable of serving and protecting the interest of
depositors are classified as non-scheduled banks.
1.9 Different Types of Banks in India:
Constituents of the Indian Banking System:
The constituents of the Indian Banking System can be broadly listed as under :
(a) Commercial Banks:
(i) Public Sector Banks
(ii) Private Sector Banks
(iii) Foreign Banks
(b) Cooperative Banks:
(i) Short term agricultural institutions
(ii) Long term agricultural credit institutions
(iii) Non-agricultural credit institutions
(c) Development Banks:
(i) National Bank for Agriculture and Rural Development (NABARD)
(ii) Small Industries Development Bank of India (SIDBI)
(iii) EXIM Bank
(iv) National Housing Bank
2. Commercial Banks:
2.1: Public Sector Banks
The term ‘public sector banks’ by itself connotes a situation where the major/full stake in the
banks are held by the Government. Till July,1969, there were only 8 Public Sector Banks
(SBI & its 7 associate banks). Then 14 commercial banks were nationalized in 1969, 100%
ownership of these banks were held by the Government of India. Subsequently, six more
16 | Page
private banks were nationalized in 1980. However, with the changing in time and
environment, these banks were allowed to raise capital through IPOs and thereby the
shareholding pattern has changed. By default the minimum 51% shares are kept by the
Government of India, and the management control of these nationalized banks is only with
Central Government. Since all these banks have ownership of Central Government, they can
be classified as public sector banks. Apart from the nationalized banks, State Bank of India,
and its associate banks, IDBI Bank and Regional Rural Banks are also included in the
category of Public Sector banks. The total number of public sector banks as on March, 2014
were 83 as per the following categorization:
State Bank of India and its Associate Banks - 6
Nationalised Banks - 19
Regional Rural Banks - 56
IDBI Bank - 1
Bhartiya Mahila Bank - 1
Further, public sector banks opened 7840 branches in the year 2013-14.
2.2: Private Sector Banks
The major stakeholders in the private sector banks are individuals and corporates. When
banks were nationalized under two tranches (in 1969 and in 1980), all banks were not
included. Those non nationalized banks which continue operations even today are classified
as Old Generation Private Sector Banks.. like The Jammu & Kashmir Bank Ltd, The Federal
Bank, The Laxmi Vilas Bank etc. Further, the banks which were given licences on the
account of banking sector reforms are known as new private sector banks. Banks which were
given licenses are: UTI bank (presently called Axis Bank) ICICI Bank, HDFC Bank, Kotak
Mahindra Bank, Yes Bank etc., These banks are recognized as New Generation Private
Sector Banks. Ten banks were licensed on the basis of guidelines issued in January 1993. The
guidelines were revised in January 2001 based on the experience gained from the functioning
of these banks, and fresh applications were invited.
Of the 10 licences issued in 1993, four banks merged with other lenders over a period of
time. Times Bank merged with HDFC Bank, while Global Trust Bank was amalgamated with
the state-owned Oriental Bank of Commerce. Centurion Bank took over Bank of Punjab to
become Centurion Bank of Punjab, which merged with HDFC Bank in 2008. On account of
these new generation private sector banks, a new competitive environment was created in the
Indian Banking System. These banks are having competitive advantages over their
counterparts (of the existing old private banks, public sector banks) in their IT support
system, innovative products, and pricing of their products. Private sector banks have been
rapidly increasing their presence, offering a variety of new services to the customers and
posing a stiff competition to the group of public sector banks. Total private sector banks as on
31st March 2014 were 22. Besides these, four Local Area Banks are also categorized as
private banks.
2.3: Foreign Banks
17 | Page
The other important segment of the commercial banking is that of foreign banks. Foreign
banks have their registered offices outside India, and through their branches they operate in
India. Foreign banks are allowed on reciprocal basis. They are allowed to operate through
branches or wholly owned subsidiaries. These foreign banks are very active in Treasury
(forex) and Trade Finance and Corporate Banking activities. These banks assist their clients
in raising External Commercial Borrowings through their branches outside India or foreign
correspondents. They are active in loan syndication as well. Foreign banks have to adhere to
all local laws as well as guidelines and directives of Indian Regulators such as Reserve Bank
of India, Insurance and Regulatory Development Authority, Securities Exchange Board of
India. The foreign banks have to comply with the requirements of the Reserve Bank of India
in respect to Priority Sector lending, and Capital Adequacy ratio and other norms. Total
foreign banks as on 31st January 2014 were 43 having 314 branches. Besides these, 45
foreign banks have their representative offices in India as on 31st January 2014*.
(3)
COMPANY PROFILE
Study AXISBANK management, company profile, ownership, management, Board of
Directors and Organization Structure of AXISBANK
COMPANY PROFILE OF AXIS BANK, NSE, INDIA

Date of Incorporation 03-Dec-1993
Date of Listing 03-Dec-1998
18 | Page
Management
Name Designation
Sanjiv Misra Chairman
V Srinivasan Deputy Managing Director
Usha Sangwan Director
Ketaki Bhagwati Director
Som Mittal Director
S Vishvanathan Director
Rohit Bhagat Director
Rakesh Makhija Director
Prasad R Menon Director
B Babu Rao Director
Samir K Barua Director
Rajiv Anand Executive Director
Rajesh Dahiya Executive Director
Shikha Sharma Managing Director & CEO
Registered Office Address

'Trishul', 3rd Floor,Opp. Samartheshwar Temple,Near Law Garden,Ellisbridge,,
380006, Ahmedabad, Gujarat, India,
Website
http://www.axisbank.com
Axis Bank Ltd is the third largest of the private-sector banks in India offering a
comprehensive suite of financial products. The bank has its head office in Mumbai and
Registered office in Ahmedabad. It has 3304 branches, 14,003 ATMs, and nine international
offices. The bank employs over 55,000 people and had a market capitalization of ₹1.28
trillion (US$20 billion) (as on March 31, 2017). It offers the entire spectrum of financial
services large and mid-size corporates, SME, and retail businesses.
As of 30 Jun. 2016, 30.81% shares are owned by promoters & promoter group (United India
Insurance Company Limited, Oriental Insurance Company Limited, National Insurance
Company Limited, New India Assurance Company Ltd, GIC, LIC & UTI). Remaining
69.19% shares are owned by Mutual Funds Institutions, FIIs, Financial Institutions (banks),
Insurance companies, corporate bodies & individual investors among others.
3.1 History
19 | Page
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, the 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.
In 2003 Axis Bank became the first Indian bank to launch the travel currency card.
In 2005, Axis Bank got listed on London Stock Exchange. 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. In 2008 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 2011, Axis bank inaugurated Axis House, its new
corporate office in Worli, Mumbai.
In 2013, Axis Bank's subsidiary, Axis Bank UK commenced banking operations. Axis Bank
UK has a branch in London.
Deepika Padukone, a Mumbai Film Industry (a.k.a. Bollywood ) actress is the brand
ambassador of Axis Bank.
In 2015, Axis Bank opens its representative office in Dhaka.
The bank has over 50,000 employees (as of 31 March 2016). The bank incurred ₹26.7 billion
(US$420 million) on employee benefits during the FY 2012–13.The average age of an Axis
Bank employee is 29 years.The attrition rate in Axis Bank is approx. 9% per year.
3.2 Operations
Indian Business
As of 12 Aug 2016, the bank had a network of 3,120 branches and extension counters and
12,922 ATMs.[22] Axis Bank has the largest ATM network among private banks in India[23]
[24] and it operates an ATM at one of the world’s highest sites at Thegu, Sikkim at a height
of 4,023 meters (13,200 ft) above sea level.
20 | Page
3.3 Services
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 Non-resident Indian (NRI) services. Axis bank is
a participant in RBI's NEFT enabled participating banks list.
Corporate Banking
Credit: The Bank offers various loan and fee-based products and services to Large and Mid-
corporate customers and Small and Medium Enterprise (SME) businesses. These products
and services include cash credit facilities, demand and short-term loans, project finance,
export credit, factoring, channel financing, structured products, discounting of bills,
documentary credits, guarantees, foreign exchange and derivative products. Liability products
including current accounts, certificates and deposits and time deposits are also offered to
large and mid- corporate segments.
Transaction Banking: Formed in April 2015, TxB provides integrated products and services
to customers in areas of current accounts, cash management services, capital market services,
trade, foreign exchange and derivatives, cross-border trade and correspondent banking
services and tax collections on behalf of the Government and various State Governments in
India.
Treasury: The Treasury manages the funding position of the Bank and also manages and
maintains its regulatory reserve requirements. It invests in sovereign and corporate debt
instruments and engages in proprietary trading inequity and fixed income securities, foreign
exchange, currency futures and options. It also invests in commercial papers, mutual funds
and floating rate instruments as part of the management of short-term surplus liquidity. In
addition, it also offers a wide range of treasury products and services to corporate customers.
Syndication: The Bank also provides services of placement and syndication in the form of
local currency bonds, rupee and foreign term loans and external commercialborrowings.
Investment Banking and Trustee
Services: The Bank provides investment banking and trusteeship services through its owned
subsidiaries. Axis Capital Limited provides investment banking services relating to equity
capital markets, institutional, stock broking besides M&Aadvisory. Axis Trustee Services
Limited is engaged in trusteeship activities, acting asdebenture trustee and as trustee to
various securitization trusts.
International Banking
The Bank continues to offer corporate banking, trade finance, treasury and risk management
solutions through the branches at Singapore, Hong Kong, DIFC,Shanghai and Colombo, and
21 | Page
also retail liability products from its branches at Hong Kong and Colombo. There
presentative office at Dhaka was inaugurated during the current financial year. Through the
Representative Office at Dhaka.
3.4 Controversies related to Ethics

2016 Demonetisation related Money Laundering
Following the 2016 Indian Banknote Demonetisation, a number of Axis Bank employees
were arrested for facilitating money laundering activities.Some media outlets highlighted the
disproportionate amount of cases involving the bank, and claimed that the bank’s aggressive
performance targets and internal culture fostered such activities and that the blame does not
liesolely in the hands of arrested employees.
Operation Red Spider
An Indian online magazine conducted asting operation which was publicisedalong with 2013
videos evidence showing a wide range of violations and money-laundering schemes by top
officials at a number of Indian banks, including Axis Bank. Consequently, penalty of Rs 5
crore on Axis Bank, Rs 4.5 crore on HDFC Bank and Rs 1 crore on ICICI Bank was imposed
by Reserve Bank of India.
3.5 Initiatives
Axis Pay
The newly introduced UPI will facilitate banking transactions using only a single ‘Virtual
Payment Address' (VPA). While transferring money to an account, the sender will not be
forced to feed the slew of details like the account number and bank’s IFSC Code, but can
transact using only the VPA.
Ping Pay
The bank launched Ping Pay in 2015,which is a multi-social payment solution that allows
customers to transfer funds using their smart phones to both Axis Bank accounts and other
banks' account holders.
Augmented reality
22 | Page
Axis Bank augmented reality feature within its mobile app which lists all the dining
destinations, property lists, shopping centers, bank ATMs, branches and many other things
not only as a location on GPSbut also in real life pictures along with distance and directions.
Microfinance Institutions (MFI)Lending
A new tablet-based loan origination system developed to digitize the entire lending process of
MFI business. This willreplace the existing paper based loan sanctioning process.
eKYC
eKYC is an online, paperless Aadhaarcard-based process for fulfilling KYCrequirements to

start investing in mutual funds without submission of any documents. SEBI has recently in
2017,allowed Aadhaar-based KYC to be used forMF investments, for the convenience of
investors.
The first step in starting your investment in mutual fund is KYC compliance.
KYCverification enables anybody to open new accounts with all SEBI-registered
intermediaries such as mutual funds,stock brokers, portfolio managers,depository
participants, venture capital funds and Collective Investment Schemes eliminating the need to
repeat standardKYC. The normal KYC process requires submission of KYC form along with
investor signature and additional documents for ID and address proof. In-person verification
(IPV) and sighting the original documents needs to be completed by a competent person.
eKYC completely eliminates paperwork and IPV to complete the KYC process.
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 toAadhaar-registered individuals to open bank accounts.
3.6 Subsidiaries
The Bank has ten wholly owned subsidiaries:
▪ Axis Capital Ltd.

▪ Axis Private Equity Ltd.
▪ Axis Trustee Services Ltd.
▪ Axis Asset Management Company Ltd.
▪ Axis Mutual Fund Trustee Ltd.
▪ Axis Bank UK Ltd.
▪ Axis Securities Ltd.
▪ Axis Direct
▪ Axis Finance Ltd.
▪ Axis Securities Europe Ltd.
▪ A.Treds Limited
▪
23 | Page
3.7 Listing and shareholding

Axis Banks's equity shares are listed onthe Bombay Stock Exchange and NationalStock
Exchange of India.The company’s global depository receipts(GDRs) are listed on the London
Stock Exchange. The Bonds issued by the Bank under the MTN programme are listed on the
Singapore Stock Exchange.
Axis Bank
------------------- in Rs. Cr.

Balance Sheet of Axis Bank -------------------
Mar Mar Mar Mar

Mar '13
'17 '16 '15 '14
12 mths 12 mths 12 mths 12 mths 12 mths
Capital and Liabilities:
Total Share Capital 479.01 476.57 474.10 469.84 467.95
24 | Page
Equity Share Capital 479.01 476.57 474.10 469.84 467.95
Reserves 55,283.53 52,688.34 44,202.41 37,750.64 32,639.91
Net Worth 55,762.54 53,164.91 44,676.51 38,220.48 33,107.86
Deposits 414,378.79 357,967.56 322,441.94 280,944.56 252,613.59
Borrowings 105,030.87 99,226.38 79,758.27 50,290.94 43,951.10
Total Debt 519,409.66 457,193.94 402,200.21 331,235.50 296,564.69
Other Liabilities &

26,295.47 15,108.77 15,055.67 13,788.89 10,888.11
Provisions
Total Liabilities 601,467.67 525,467.62 461,932.39 383,244.87 340,560.66
Mar '17 Mar '16 Mar '15 Mar '14 Mar '13
Assets
Cash & Balances with RBI 30,857.94 22,361.15 19,818.84 17,041.32 14,792.09
Balance with Banks,

19,398.24 10,964.29 16,280.19 11,197.38 5,642.87
Money at Call
Advances 373,069.35 338,773.72 281,083.03 230,066.76 196,965.96
Investments 128,793.37 122,006.20 132,342.83 113,548.43 113,737.54
Gross Block 3,746.89 3,316.20 2,413.05 2,310.54 2,230.54
Net Block 3,746.89 3,316.20 2,413.05 2,310.54 2,230.54
Capital Work In Progress 0.00 206.97 101.26 99.67 125.11
Other Assets 45,601.87 27,839.08 9,893.19 8,980.79 7,066.56
Total Assets 601,467.66 525,467.61 461,932.39 383,244.89 340,560.67
Contingent Liabilities 750,681.21 668,725.82 640,183.59 611,446.37 576,010.77
25 | Page
Book Value (Rs) 232.83 223.12 188.47 813.47 707.50
Standalone Profit & Loss

------------------- in Rs. Cr. -------------------
account
Income
Interest Earned 44,542.16 40,988.04 35,478.60 30,641.16 27,182.57
Other Income 11,691.31 9,371.46 8,365.05 7,405.22 6,551.11
Total Income 56,233.47 50,359.50 43,843.65 38,046.38 33,733.68
Expenditure
Interest expended 26,449.04 24,155.07 21,254.46 18,689.52 17,516.31
Employee Cost 3,891.86 3,376.01 3,114.97 2,601.35 2,376.98
Selling, Admin & Misc Expenses 21,704.49 14,160.85 11,710.72 10,173.91 8,309.22
Depreciation 508.80 443.91 405.67 363.93 351.73
Operating Expenses 12,199.91 10,100.82 9,203.74 7,900.77 6,914.23
Provisions & Contingencies 13,905.24 7,879.95 6,027.62 5,238.42 4,123.70
Total Expenses 52,554.19 42,135.84 36,485.82 31,828.71 28,554.24
Net Profit for the Year 3,679.28 8,223.66 7,357.82 6,217.67 5,179.43
Profit brought forward 23,766.46 17,623.49 13,501.45 10,029.26 7,329.45
Total 27,445.74 25,847.15 20,859.27 16,246.93 12,508.88
Equity Dividend 1,197.52 1,191.42 1,087.54 939.69 843.86
26 | Page
Corporate Dividend Tax 209.91 213.19 221.42 161.44 143.37
Per share data (annualised)
Earning Per Share (Rs) 15.36 34.51 31.04 132.33 110.68
Equity Dividend (%) 250.00 250.00 230.00 200.00 180.00
Book Value (Rs) 232.83 223.12 188.47 813.47 707.50
Appropriations
Transfer to Statutory Reserves 1,589.98 2,077.89 1,926.82 1,644.36 1,492.38
Transfer to Other Reserves 0.00 0.00 0.00 -0.01 0.01
Proposed Dividend/Transfer to
1,407.43 1,404.61 1,308.96 1,101.13 987.23
Govt
Balance c/f to Balance Sheet 24,448.33 22,364.65 17,623.49 13,501.45 10,029.26
Total 27,445.74 25,847.15 20,859.27 16,246.93 12,508.88
AXIS BANK Fundamental Report

SHARE PRICE
Get to know the company overview of AXISBANK - face value, book value, exchange
symbol, 1 year & lifetime highs/lows, average volume, market cap, PE ratio, 1 month return,
% promoter holding pledged before investing in AXISBANK
Current Price (Rs.) 535.40

Face Value (Rs.) 2
Book Value (Rs.) 235.4
52 Week High (Rs.) 565.90 (28-Nov-
17)
52 Week Low (Rs.) 424.40 (10-Jan-
17)
27 | Page
Life Time high (Rs.) 654.90 (04-Mar-

15)
Life Time low (Rs.) 2.40 (26-Apr-99)
Exchange Symbol AXISBANK
(NSE)
Average Daily Movement [ADM] 12.91
Average Volume [20 days](No. of 9554121
shares)
Market Cap (Rs. in Cr) 128370.97 (Cr)
1 Month Return (%) 2.34
P/E Ratio (x) 36.28
% of Promoter holding pledged 0.00
SHARE PRICE CHART

We recommend to use only Weekly and Monthly charts. Daily charts are also given which
are used for exits.
We do not recommend daily/intraday minute hourly charts.
Why should you follow Weekly & Monthly levels - The major levels come from weekly and
monthly charts which the FII, fund managers usually use for entry and profit booking.
QUARTERLY RESULTS
Standalone Income Statement (in Cr.)
Sep-17 Jun-17 Mar-17 Dec-16 Sep-16 Jun-16 Mar-17

Quarterly Quarterl Quarterl Quarterl Quarterl Quarterly Annual
y y y y
Net -- -- -- -- -- -- --
Sales/Income
from
operations
Int. /Disc. on 8,406.31 8,210.58 8,262.56 8,156.41 8,386.18 8,319.81 33,124.96
28 | Page
Adv/Bills
Income on 2,432.03 2,417.87 2,389.29 2,416.67 2,380.58 2,436.28 9,622.82
Investment
Int. on balances 86.38 112.69 165.28 204.22 76.75 57.59 503.84
With RBI
Others 310.36 311.35 351.02 323.70 315.60 300.22 1,290.54
Total Income 11,235.08 11,052.49 11,168.15 11,101.00 11,159.11 11,113.90 44,542.16
From
Operations
Employees 1,082.84 1,088.25 947.97 991.88 988.83 963.18 3,891.86
Cost
Other Expenses 2,265.00 2,236.54 2,419.05 2,101.83 1,964.52 1,822.65 8,308.05
Total 3,347.84 3,324.79 3,367.02 3,093.71 2,953.35 2,785.83 12,199.91
Expenditure
Operating 3,777.32 4,291.16 4,374.74 4,640.23 4,100.18 4,469.37 17,584.52
Profit before
Provisions and
contingencies
Provisions And 3,140.41 2,341.93 2,581.25 3,795.80 3,622.74 2,117.17 12,116.96
Contingencies
Other Income 2,585.54 2,999.81 3,013.16 3,400.21 2,539.66 2,738.28 11,691.31
Interest 6,695.46 6,436.35 6,439.55 6,767.27 6,645.24 6,596.98 26,449.04
P/L Before Tax 636.91 1,949.23 1,793.49 844.43 477.44 2,352.20 5,467.56
Tax 204.53 643.63 568.39 264.86 158.36 796.67 1,788.28
P/L After Tax 432.38 1,305.60 1,225.10 579.57 319.08 1,555.53 3,679.28
from Ordinary
Activities
PAT 432.38 1,305.60 1,225.10 579.57 319.08 1,555.53 3,679.28
Minority -- -- -- -- -- -- --
Interest
Share Of P/L -- -- -- -- -- -- --
Of Associates
Net -- -- -- -- -- -- --
Profit/(Loss)
For the Period
Equity Share 479.53 479.40 479.01 478.28 477.95 477.46 479.01
Capital
Reserves -- -- -- -- -- -- 55,283.53
Equity -- -- -- -- -- -- 250.00
29 | Page
Dividend Rate
(%)
Gross NPA 27,402.32 22,030.87 21,280.48 20,466.82 16,378.65 9,553.17 21,280.48
Net NPA 14,052.34 9,765.98 8,626.55 8,294.78 7,761.15 4,010.23 8,626.55
% of Gross 5.90 5.03 5.04 5.22 4.17 2.54 5.04
NPA
% of Net NPA 3.12 2.30 2.11 2.18 2.02 1.08 2.11
Return on 0.27 0.87 0.84 0.39 0.23 1.19 0.65
Assets %
EPS (Rs.) 1.80 5.45 5.12 2.42 1.34 6.52 15.40
[After
Extraordinary
items]
EPS (Rs.) 1.80 5.45 5.12 2.42 1.34 6.52 15.40
[Before
Extraordinary
items]
Consolidated Income Statement in (Cr.)
Net Sales/Income from operations 45,175.09
Int. /Disc. on Adv/Bills 33,694.64
Income on Investment 9,674.97
Int. on balances With RBI 505.79
Others 1,299.69
Total Income From Operations 90,350.18
Employees Cost 4,742.10
Other Expenses 7,983.53
Total Expenditure 12,725.63
Operating Profit before Provisions and contingencies 18,081.72
Provisions And Contingencies 12,127.92
Other Income 12,421.60
Interest 26,789.34
30 | Page
P/L Before Tax 5,953.80
Tax 1,986.77
P/L After Tax from Ordinary Activities 3,967.03
PAT 3,967.03
Minority Interest -14.00
Share Of P/L Of Associates --
Net Profit/(Loss) For the Period 3,953.03
Equity Share Capital 479.01
Reserves 55,901.34
Equity Dividend Rate (%) --
Gross NPA --
Net NPA --
% of Gross NPA --
% of Net NPA --
Return on Assets % --
EPS (Rs.) [After Extraordinary items] 16.54
EPS (Rs.) [Before Extraordinary items] 16.54
RATIO ANALYSISAmong all the ratios these are the most important ratios to look before
investing in a company.
Get the latest key Financial Ratios and the Ratio Analysis of to gauge the overall financial
health of a company before investing.
Name Ratio Good/Not Good Description

1.69 > 2 is Good, A liquidity ratio that measures a companys
Current Ratio < 2 is Not Good ability to pay short-term obligations. The higher
(x) the current ratio, the more capable the company
is of paying its obligations.
Quick Ratio 16.62 > 1 is Good, The quick ratio measures a company's ability to
(x) < 1 is Not Good meet its short-term obligations with its most
31 | Page
liquid assets. For this reason, the ratio excludes

inventories from current assets
0.93 > 1.5 is Good, A financial ratio that shows how much a
< 1.5 is Not company pays out in dividends each year relative
Dividend Yield
Good to its share price. Dividend yield is calculated as
(%)
annual dividends per share divided by market
price per share.
2.16 > 2 is Good, It is used to determine how easily a company can
Interest < 2 is Not Good pay interest on outstanding debt. It is calculated
Coverage (For Banks & by dividing a companys EBIT by the interest
Ratio (x) NBFC this is not expenses.
Valid)
1.99 < 2 is Good, A measure of a companys financial leverage
> 2 is Not Good calculated by dividing its total liabilities by
Debt Equity
(For Banks & stockholders equity. The debt/equity ratio also
Ratio (x)
NBFC this is not depends on the industry in which the company
Valid) operates.
7.84 > 5% is Good, An indicator of how efficient management is at
Return On < 5% is Not using its assets to generate earnings. Calculated
Asset (%) Good by dividing a companys annual earnings by its
total assets
7.01 > 18% is Good, Also called Return on networth, it measures a
< 18% is Not companys profitability by revealing how much
Good profit a company generates with the money
Return On
shareholders have invested, it is calculated by
Equity (%)
dividing the net profit after tax by shareholder's
fund For high growth companies you should
expect a higher ROE.
For investors interested in AXIS BANK find all important information on AXIS BANK share
price, peer comparison and analysis.

DIVIDEND

Get a glimpse into the dividend history-payout amount of AXISBANK, interim dividend and
the latest dividend announcements by AXISBANK in the last 5 years.
Announcement
# Date Ex-Date Amount Interim/Final
1 28-Apr-2017 06-Jul-2017 5.00 Final
2 26-Apr-2016 07-Jul-2016 5.00 Final
3 29-Apr-2015 09-Jul-2015 4.60 Final
4 25-Apr-2014 12-Jun-2014 20.00 Final
32 | Page
5 25-Apr-2013 05-Jul-2013 18.00 Final

6 27-Apr-2012 14-Jun-2012 16.00 Final
7 22-Apr-2011 08-Jun-2011 14.00 Final
8 20-Apr-2010 20-May-2010 12.00 Final
9 20-Apr-2009 14-May-2009 10.00 Final
10 21-Apr-2008 22-May-2008 6.00 Final

PROMOTER SHAREHOLDING
Look up all relevant information on shareholding pattern of AXISBANK, the change in
shareholding as compared to last quarter, Promoters shareholding%, persons holding more
than 1% shares of the company.
Shareholding Pattern Sep-17 Jun-17 Mar-17 Dec-16 Sep-16
Promoter and Promoter 28.60 28.67 28.76 28.91 28.89
Group (%)
Indian 28.60 28.67 28.76 28.91 28.89
Foreign NIL NIL NIL NIL NIL
Institutions (%) 55.35 56.54 56.69 57.80 58.14
FII 46.29 47.84 48.24 47.22 48.62
DII 9.06 8.69 8.44 10.58 9.51
NonInstitutions (%) 16.05 14.80 14.55 13.30 12.97
Bodies Corporate NIL NIL NIL NIL NIL
Others 10.28 10.20 10.01 8.93 8.78
Custodians 5.77 4.60 4.54 4.37 4.19
Total no. of shares (cr.) 214.75 214.75 214.75 214.75 214.75
PUBLIC SHAREHOLDING
Study of the shareholding pattern of a company is a very important part of fundamental
analysis. The shareholding pattern is a determinant of the market capitalization of the stock
and is an indicator of whether the stock valuation is justified or not. Know the Public
shareholding % for the last quarter as announced by the company.
Persons holding securities Category Dec-16 Jun- Mar- Dec- Mar-
more than 1% of total number 16 16 15 17
of shares under category
Public Shareholding.
LIFE INSURANCE Promoters 13.87 NIL 14.66 NIL 13.85
CORPORATION OF INDIA
ADMINISTRATOR OF THE Promoters 11.50 11.53 NIL NIL 11.49
33 | Page
SPECIFIED UNDERTAKING
OFTHE UNIT TRUST OF
INDIA - SUUTI
CINNAMON CAPITAL NonPromoters 3.90 2.41 NIL NIL 4.33
LIMITED
Bodies Corporate NonPromoters 1.01 NIL 1.37 NIL 2.56
ICICI PRUDENTIAL NIFTY NonPromoters 1.03 NIL NIL NIL 1.72
INDEX FUND
GOVERNMENT OF NonPromoters 1.76 NIL NIL NIL 1.68
SINGAPORE - E
GENERAL INSURANCE Promoters 1.67 NIL NIL NIL 1.67
CORPORATION OF INDIA
ABU DHABI INVESTMENT NonPromoters 1.54 NIL NIL NIL 1.64
AUTHORITY - BAIHU
ICICI PRUDENTIAL LIFE NonPromoters NIL NIL NIL NIL 1.44
INSURANCE COMPANY
LIMITED
LAZARD EMERGING NonPromoters NIL NIL NIL NIL 1.23
MARKETS PORTFOLIO
FRANKLIN INDIA NonPromoters 1.13 NIL NIL NIL 1.22
MONTHLY INCOME PLAN
THE NEW INDIA Promoters 1.09 NIL NIL NIL 1.09
ASSURANCE COMPANY
LIMITED
CENTAURA INVESTMENTS NonPromoters 1.07 1.07 NIL NIL 1.07
(MAURITIUS) PTE LTD
VANGUARD EMERGING NonPromoters NIL NIL NIL NIL 1.07
MARKETS STOCK INDEX
FUND, ASERIES OF
VANGUARD
INTERNATIONAL EQUITY
INDE X FUND
ICICI PRUDENTIAL LIFE NonPromoters 1.71 1.86 2.85 NIL NIL
INSURANCE COMPANY LTD
LAZARD ASSET NonPromoters 1.13 NIL NIL NIL NIL
MANAGEMENT LLC A/C
LAZARD EMERGING
MARKETS PORTFOLIO
RELIANCE CAPITAL NonPromoters 1.12 NIL 1.71 NIL NIL
TRUSTEE COMPANY
LIMITED A/C RELIANCE
GROWTH FUND
34 | Page
GOVERNMENT PENSION NonPromoters 1.09 NIL 1.48 NIL NIL

FUND GLOBAL
CREDIT SUISSE NonPromoters 1.01 NIL 1.75 NIL NIL
(SINGAPORE) LIMITED
ICICI PRUDENTIAL VALUE NonPromoters NIL 1.56 NIL NIL NIL
FUND - SERIES 1
RELIANCE EMERGENT NonPromoters NIL 1.55 NIL NIL NIL
INDIA FUND
HDFC TRUSTEE COMPANY NonPromoters NIL 1.43 1.47 NIL NIL
LIMITED-HDFC EQUITY
FUND
GOLDMAN SACHS NonPromoters NIL 1.20 1.02 NIL NIL
(SINGAPORE) PTE
Life Insurance Corporation Of Promoters NIL NIL NIL 14.48 NIL
India
ICICI Prudential Life Insurance NonPromoters NIL NIL NIL 2.54 NIL
Company Ltd
Prudential Icici Trust Ltd- NonPromoters NIL NIL NIL 1.76 NIL
Sensex Prudential Iciciexchange
Traded Fund-Securities
General Insurance Corporation Promoters NIL NIL NIL 1.69 NIL
Of India
Hdfc Trustee Company Ltd- NonPromoters NIL NIL NIL 1.35 NIL
Hdfc Equity Fund

PEERS PRICE COMPARISION
Last Prv
# Company Name Open High Low Price Price Change % Chng
1 AXIS BANK 520.95 526.10 511.00 513.15 513.15 0 0.00
2 JK BANK 74.10 74.50 73.05 74.10 74.10 0 0.00
3 RBL BANK 524.40 524.40 519.75 521.85 521.85 0 0.00
4 CITY UNION 159.80 161.80 158.50 160.30 160.30 0 0.00
BANK
5 UCO BANK 29.40 29.80 29.35 29.65 29.65 0 0.00
6 INDIAN BANK 269.80 275.00 268.20 271.25 271.25 0 0.00
7 KARUR VYSYA 130.00 130.20 127.25 127.70 127.70 0 0.00
35 | Page
BANK
8 CENTRAL BANK 78.65 79.00 77.60 78.20 78.20 0 0.00
OF INDIA
9 SBBJ 762.65 779.80 761.15 771.85 771.85 0 0.00
10 DENA BANK 30.50 30.55 30.20 30.25 30.25 0 0.00
11 IOB 22.10 22.35 22.10 22.30 22.30 0 0.00
12 VIJAYA BANK 57.15 58.55 56.75 57.80 57.80 0 0.00
13 LAKSHMI VILAS 143.50 150.60 142.75 149.75 149.75 0 0.00
BANK
14 CORPORATION 39.65 40.00 39.10 39.25 39.25 0 0.00
BANK
15 STATE BANK OF 599.95 613.90 599.00 608.75 608.75 0 0.00
TRAVANCORE
16 DCB BANK 187.00 187.00 181.00 184.05 184.05 0 0.00
(4)
COMPANY PROFILE
Study ICICIBANK management, company profile, ownership, management, Board of

Directors and Organization Structure of ICICIBANK
COMPANY PROFILE OF ICICI BANK, NSE, INDIA
36 | Page
Date of Incorporation 05-Jan-1994

Date of Listing 24-Sep-1997
Management
Name Designation
M K Sharma Chairman
Amit Agrawal Director
V Sridar Director
V K Sharma Director
Tushaar Shah Director
Homi Khusrokhan Director
Dileep Choksi Director
N S Kannan Executive Director
Anup Bagchi Executive Director
Vijay Chandok Executive Director
Vishakha Mulye Executive Director
Chanda Kochhar Managing Director & CEO
ICICI Bank Tower,Near Chakli Circle, Old Padra Road,, 390007, Vadodra, Gujarat, India,
Website
http://www.icicibank.com
4.1 History :
ICICI Bank, stands for Industrial Credit and Investment Corporation of India, is an Indian
multinational banking and financial services company headquartered in Mumbai,
Maharashtra, India, with its registered office in Vadodara. In 2014, it was the second largest
bank in India in terms of assets and third in term of market capitalisation. It offers a
widerange of banking products and financial services for corporate and retail customers
through a variety of delivery channels and specialised subsidiaries in the areas of investment
banking, life, non-life insurance, venture capital and asset management. The bank has a
network of4,850 branchesand 14,404 ATMsin India, and has a presence in 19 countries
including India.
The bank has subsidiaries in the United Kingdom and Canada; branches in United States,
Singapore, Bahrain, Hong Kong, SriLanka, Qatar, Oman, Dubai International Finance
Centre, Chinaand South Africa;and representative offices in United Arab Emirates,
Bangladesh, Malaysia and Indonesia. The company's UK subsidiary has also established
branches in Belgium and Germany.
ICICI's shareholding in ICICI Bank was reduced to 46 percent, through a public offering of
shares in India in 1998,followed by an equity offering in the form of American Depositary
Receipts on theNYSE in 2000.ICICI Bank acquired the Bank of Madura Limited in an all-
stock deal in 2001 and sold additional stakes to institutional investors during 2001-02.
In the 1990s, ICICI transformed its business from a development financial institution offering
only project finance to a diversified financial services group, offering a wide variety of
37 | Page
products and services, both directly and through a number of subsidiaries and affiliates
likeICICI Bank. In 1999, ICICI become the first Indian company and the first bank or
financial institution from non-Japan Asia to be listed on the NYSE.
In 2000, ICICI Bank became the first Indian bank to list on the New York Stock Exchange
with its five million Americandepository shares issue generating a demand book 13 times the
offer size.
In October 2001, the Boards of Directors ofICICI and ICICI Bank approved the merger of
ICICI and two of its wholly owned retail finance subsidiaries, ICICI Personal Financial
Services Limited and ICICICapital Services Limited, with ICICI Bank. The merger was
approved by shareholders of ICICI and ICICI Bank in January 2002, by the High Court of
Gujarat at Ahmedabad in March 2002 and by the High Court of Judicature at Mumbai and the
Reserve Bank of India in April 2002.
In 2008, following the 2008 financial crisis, customers rushed to ICICI ATMs and branches
in some locations due to rumours of adverse financial position ofICICI Bank. The Reserve
Bank of India issued a clarification on the financial strength of ICICI Bank to dispel the
rumors.
4.2 Acquisitions
⮚ 1996: SCICI Ltd. A diversified financial institution with headquarters in Mumbai
⮚ 1997: ITC Classic Finance. incorporated in 1986, ITC Classic was a non-
bankfinancial firm that engaged in hire, purchase, and leasing operations. At the time
of being acquired, ITC Classic had eight offices, 26 outlets, and 700brokers.
⮚ 1998: Anagram(ENAGRAM) Finance. Anagram had built up a network of some 50
branches in Gujarat, Rajasthan, and Maharashtra that were primarily engaged in retail
financing of cars and trucks. It also had some 250,000 depositors.
⮚ 2001: Bank of Madura
⮚ 2002: The Darjeeling and Shimla branches of Grindlays Bank
⮚ 2005: Investitsionno-Kreditny Bank (IKB), a Russian bank
⮚ 2007: Sangli Bank. Sangli Bank was a private sector unlisted bank, founded in1916,
and 30% owned by the Bahtefamily. Its headquarters were in Sangli in Maharashtra,
and it had 198 branches. It had 158 in Maharashtra and 31 in Karnataka, and others in
Gujarat, Andhra Pradesh, Tamil Nadu, Goa, and Delhi. Its branches were relatively
evenly split between metropolitan areas and rural or semi-urban areas.
⮚ 2010: The Bank of Rajasthan (BOR) was acquired by the ICICI Bank in 2010 for₹30
billion (US$470 million). RBI was critical of BOR's promoters not reducing their
holdings in the company. BOR has since been merged with ICICI Bank.
4.3 Role in Indian financial infrastructure

The bank has contributed to the set-up of a number of Indian institutions to establish financial
infrastructure in the country over the years:
❖ National Stock Exchange - The National Stock Exchange was promoted by India’s
leading financial institutions(including ICICI Ltd.) in 1992 on behalfof the
38 | Page
Government of India with the objective of establishing a nationwide trading facility

for equities, debt instruments and hybrids, by ensuring equal access to investors all
over the country through an appropriate communication network.
❖ Credit Rating Information Services of India Limited (CRISIL) - In 1987, ICICI
Ltdalong with UTI set up CRISIL as India’s first professional credit rating
agency.CRISIL offers a comprehensive range of integrated products and service
offerings which include credit ratings,capital market information, industry analysis
and detailed reports.
❖ National Commodities and Derivatives Exchange Limited - NCDEX is an
onlinemulti-commodity exchange, set up in2003, by ICICI Bank Ltd, LIC,
NABARD,NSE, Canara Bank, CRIsIL, GoldmanSachs, Indian Farmers fertilizer
cooperative Limited (IFFCO) and Punjab National Bank.
❖ Financial Innovation Network and Operations Pvt Ltd. - ICICI Bank has
facilitated setting up of "FINO CrossLink to Case Link Study" in 2006, as a company
that would provide technology solutions and services to reach the underserved and
underbanked population of the country. Using technologies like smart cards,
biometrics and a basket of support services, FINO enables financial institutions to
conceptualise, develop and operationalise projects to support sector initiatives in
microfinance and livelihoods
❖ Entrepreneurship Development Institute of India - Entrepreneurship Development
Institute of India (EDII), an autonomous body and not-for-profit society, was setup in
1983, by the erstwhile apex financial institutions like IDBI, ICICI, IFCIand SBI with
the support of the Government of Gujarat as a national. resource organisation
committed toentrepreneurshipdevelopment, education, training and research.
❖ North Eastern Development Finance Corporation - North Eastern Development
Finance Corporation(NEDFI) was promoted by national level financial institutions
like ICICI Ltd in1995 at Guwahati, Assam for the development of industries,
infrastructure, animal husbandry, agri-horticulture plantation, medicinal plants,
sericulture, aquaculture, poultry and dairy in the North Eastern states of India. NEDFI
is the premier financial and development institution for the North East region.
❖ Asset Reconstruction Company India Limited - Following the enactment of
theSecuritisation Act in 2002, ICICI Bank, together with other institutions, set up
Asset Reconstruction Company India Limited (ARCIL) in 2003, to create a
facilitative environment for there solution of distressed debt in India.ARCIL was
established to acquire non-performing assets (NPAs) from financial institutions and
banks with a view to enhance the management of these assets and help in the
maximisation of recovery. This would relieve institutionsand banks from the burden
of pursuingNPAs, and allow them to focus on core banking activities.
❖ Credit Information Bureau of India Limited - ICICI Bank has also helped in
setting up Credit Information Bureau of India Limited (CIBIL), India's first national
credit bureau in 2000. CIBILprovides a repository of information(which contains the
credit history of commercial and consumer borrowers)to its members in the form of
credit information reports. The members ofCIBIL include banks, financial
institutions, state financial corporations,non-banking financial companies, housing
finance companies and credit card companies.
39 | Page
❖ Institutional Investor Advisory Services India Limited (IiAS) – ICICI Bank has
indirectly invested in Institutional Investor Advisory Services, through
ICICIPrudential Life Insurance Company, inIiAS. IiAS is a voting advisory firm aka
proxy firm, dedicated to providing participants in the Indian market with data,
research and commentary. It provides recommendations on resolutions placed before
shareholders of over 300 companies.
4.4 Services
iMobile SmartKeys
To make mobile payments easier, ICICIBank has launched a payment service using a
smartphone keyboard named ‘iMobile SmartKeys’. Users will be able to make quick and
secure payments on any mobile application, including chat, messenger, email, games or
search browser, without having to exit their current application on their smartphone. This
reduces the time taken by customers having to switch tabs or applications within their
smartphone to access the bank’s application ‘iMobile’.
This solution was developed by one of the winners of the bank’s app developing competition
- ICICI Appathon.
ICICI Merchant Services

ICICI Merchant Services represents an alliance formed in 2009 between ICICIBank, India’s
largest private sector bank,and First Data, a global leader in electronic commerce and
payment services. First Data is the majority stakeholder in the alliance with ICICI Bank
holding 19%.
First Data is offering the complete gateway solution while ICICI is offering theMerchant
Services, So the both companies are generating the revenue from Indian market by offering
the #d Secure merchant solution along with MOTO machine.
Money2India
Money2India (www.money2India.com) is an online money transfer tracking service offered
to Non-Resident Indians by ICICIBank Ltd. With an ever-expanding base since its launch, it
is the preferred mode of online money transfers to India, facilitating seamless money
transfers with round the clock customer service availability. To use this service, a user needs
to complete a simple one-time online registration by accessing www.money2India.com and
can thereafter, start sending money from any bank in 9 countries (USA, Canada, UK,
Singapore, Australia, UAE, Sweden, Switzerland and Hong Kong) to any beneficiary account
with over 100 banks in India.
MySavings Rewards
40 | Page
ICICI Bank has rolled-out the programme ‘MySavings Rewards' from 1 September2012,
where reward points are offered to individual domestic customers for a variety of transactions
done through the savings bank account. Reward points are offered automatically to customers
for activating Internet banking, shopping online/ paying utility bills with Internet banking and
auto-debit from savings account towards equated monthly installments for home/ auto/
personal loan/ recurring deposit. Customers are required to maintain a monthly average
balance of ₹15,000 (US$230) or more. the Indian bank will recuire 5.5% interest on short
term loans and long term bonds and mortgages loans up to $2 million up to 20years to pay
back annual interest of 5.5%short term loans from 3 months up to 3years at 5.5% .credit
interest is reduced to10% annually .
Software robotics
ICICI on 10 Sep 2016 announced 'softwarerobotics' initiative—a first by any Indian bank.
Over 200 software robots are nowperforming over 1 million transactions per day for the bank
which comprises 10% of its total transactions. The bank will engage 500 software robots by
the end of the year which will help it to automate 20%of its total transactions.
Blockchain technology
In October 2016, ICICI Bank, in partnership with Emirates NBD, became the first
IndianBank to successfully execute transactions in international trade finance and remittance
using blockchain technology. The blockchain technology replicates thepaper-intensive
international trade finance process as an electronic decentralised ledger that gives all the
participating entities including banks the ability to access a single source of information. It
has enabled the Bank to exchange and authenticate remittance transaction messages as well
as original international trade documents related to purchase order, invoice, shipping
&insurance, among others, electronically on blockchainin real time. In addition, ICICI Bank
is currently working to put together programs that will let people transfer money inside and
outside the country through the Stellar(payment network) blockchainplatform.
4.5 Social responsibility programmes for elementary Education

Read to Lead Phase I: Read to Lead isan initiative of ICICI Bank to facilitate access to
elementary education for underprivileged children in the age group of 3–14 years including
girls and tribal children fromthe remote rural areas. The Read to Lead initiative supports
partner NGOs to design and implement programmes that mobiliseparent and community
involvement ineducation, strengthen schools and enable children to enter and complete
formal elementary education. Read to Lead has reached out to 100,000children across 14
states of Andhra Pradesh, Bihar, Delhi, Gujarat, Haryana, Jharkhand, Karnataka,
Maharashtra, Orissa, Rajasthan, Tamil Nadu, Tripura, Uttar Pradesh and West Bengal.
Read to Lead Phase II: In Phase II of the Read to Lead programme, ICICI Bank has
supported the establishment of 63libraries that will reach out to approximately 7,200 children
in the rural areas of Jagdalpur block of Bastardistrict in Chhattisgarh. The
41 | Page
programmeincludes building libraries, sourcing books and conducting various interactive

activities to make the library a dynamic centre for learning.
------------------- in Rs. Cr. -------------------

Balance Sheet of ICICI Bank
Mar 17 Mar 16 Mar 15 Mar 14 Mar 13
EQUITIES AND LIABILITIES
SHAREHOLDER'S FUNDS
Equity Share Capital 1,165.11 1,163.17 1,159.66 1,155.04 1,153.64
Total Share Capital 1,165.11 1,163.17 1,159.66 1,155.04 1,153.64
Revaluation Reserve 3,042.14 2,817.47 0.00 0.00 0.00
Reserves and Surplus 95,737.57 85,748.24 79,262.26 72,051.71 65,547.84
42 | Page
Total Reserves and Surplus 98,779.71 88,565.72 79,262.26 72,051.71 65,547.84
Employees Stock Options 6.26 6.70 7.44 6.57 4.48
Total ShareHolders Funds 99,951.07 89,735.58 80,429.36 73,213.33 66,705.96
Deposits 490,039.06 421,425.71 361,562.73 331,913.66 292,613.63
Borrowings 147,556.15 174,807.38 172,417.35 154,759.05 145,341.49
Other Liabilities and

34,245.16 34,726.44 31,719.86 34,755.55 32,133.60
Provisions
Total Capital and Liabilities 771,791.45 720,695.10 646,129.29 594,641.58 536,794.68
ASSET
S
Cash and Balances with

31,702.41 27,106.09 25,652.91 21,821.83 19,052.73
Reserve Bank of India
Balances with Banks Money

44,010.66 32,762.65 16,651.71 19,707.77 22,364.79
at Call and Short Notice
Investments 161,506.55 160,411.80 186,580.03 177,021.82 171,393.60
Advances 464,232.08 435,263.94 387,522.07 338,702.65 290,249.44
Fixed Assets 7,805.21 7,576.92 4,725.52 4,678.14 4,647.06
Other Assets 62,534.55 57,573.70 24,997.05 32,709.39 29,087.07
Total Assets 771,791.45 720,695.10 646,129.29 594,641.58 536,794.68
OTHE
R
ADDIT
IONA
L
INFOR
MATI
ON
Number of Branches 4,850.00 4,450.00 4,050.00 3,753.00 3,100.00
Number of Employees 81,129.00 72,175.00 66,327.00 72,226.00 62,065.00
43 | Page
Capital Adequacy Ratios (%) 17.00 17.00 17.00 18.00 19.00
KEY
PERF
ORMA
NCE
INDIC
ATOR
S
Tier 1 (%) 14.00 13.00 13.00 13.00 13.00
Tier 2 (%) 3.00 4.00 4.00 5.00 6.00
ASSET
S
QUAL
ITY
Gross NPA 42,159.38 26,221.25 15,094.69 10,505.84 9,607.75
Gross NPA (%) 9.00 6.00 4.00 0.00 0.00
Net NPA 25,216.81 12,963.08 6,255.53 3,297.96 2,230.56
Net NPA (%) 5.00 3.00 2.00 1.00 1.00
Net NPA To Advances (%) 5.00 3.00 2.00 1.00 1.00
CONT
INGE
NT
LIABI
LITIE
S,
COM
MITM
ENTS
Bills for Collection 22,623.19 68,932.74 16,212.97 13,534.91 12,394.53
Contingent Liabilities 1,030,993.71 853,520.77 851,977.61 781,430.45 789,989.31
44 | Page
Source : Dion Global Solutions Limited
Standalone Profit &

Loss Account
------------- in Rs. Cr. -------------------
Mar Mar Mar Mar

Mar '13
'17 '16 '15 '14
Income
Interest Earned 54,156.28 52,739.43 49,091.14 44,178.15 40,075.60
Other Income 19,504.48 15,323.05 12,176.13 10,427.87 8,345.70
Total Income 73,660.76 68,062.48 61,267.27 54,606.02 48,421.30
Expenditure
Employee Cost 5,733.71 3,012.69 4,749.88 4,220.11 3,893.29
Depreciation 757.65 698.51 658.95 575.97 490.16
Total Expenses 63,859.68 58,336.19 50,091.92 44,795.55 40,095.83
45 | Page
Total 26,933.28 26,987.71 24,493.94 19,712.77 15,379.70
Equity Dividend 0.00 2,907.52 2,898.81 2,656.28 2,307.23
Equity Dividend (%) 125.00 250.00 250.00 230.00 200.00
Book Value (Rs) 166.37 149.47 138.72 634.60 578.65
Appropriations
Transfer to Other Reserves 0.00 0.01 0.00 0.00 0.00
0.00 3,186.89 3,169.96 2,887.53 2,599.39
Govt
Total 26,933.28 26,987.71 24,493.95 19,712.77 15,379.71
46 | Page
ICICI Bank Fundamental Report

SHARE PRICE
Get to know the company overview of ICICIBANK - face value, book value, exchange
% promoter holding pledged before investing in ICICIBANK
Face Value (Rs.) 2
52 Week High (Rs.) 332.35 (17-Nov-17)
52 Week Low (Rs.) 224.25 (27-Dec-16)
Life Time high (Rs.) 357.64 (28-Jan-15)
Life Time low (Rs.) 3.77 (09-Feb-99)
ICICIBANK (NSE)
Exchange Symbol
Average Volume [20 days](No. of
13614605
shares)
P/E Ratio (x) 23.04
SHARE PRICE CHART
are used for exits.
47 | Page

QUARTERLY RESULTS
Standalone Income Statement in (Cr.)

Quarterl Quarter Quarter Quarter Quarter Quarter
Annual
y ly ly ly ly ly
Net Sales/Income
-- -- -- -- -- -- --
from operations
Int. /Disc. on 10,090.2 39,603.
9,847.31 9,990.72 9,870.00 9,905.36 9,837.31
Adv/Bills 6 39
Income on 11,377.
2,878.91 2,827.13 2,621.66 2,947.68 2,996.86 2,810.87
Investment 07
Int. on balances With
144.82 198.50 281.93 125.55 37.93 50.05 495.46
RBI
2,680.3
Others 463.06 586.19 674.22 674.87 699.25 632.02
6
Total Income From 13,577.0 13,459.1 13,568.5 13,618.1 13,639.4 13,330.2 54,156.
Operations 5 3 3 0 0 5 28
5,733.7
Employees Cost 1,514.06 1,511.16 1,480.45 1,405.95 1,556.66 1,290.65
1
9,021.3
Other Expenses 2,394.75 2,283.28 2,386.92 2,371.79 2,180.24 2,082.40
5
14,755.
Total Expenditure 3,908.81 3,794.44 3,867.37 3,777.74 3,736.90 3,373.05
06
Operating Profit
10,636.0 26,486.
before Provisions 6,986.50 5,183.31 5,112.02 5,523.92 5,214.73
7 74
and contingencies
Provisions And 15,208.
4,502.93 2,608.74 2,898.22 2,712.70 7,082.69 2,514.52
Contingencies 13
19,504.
Other Income 5,186.24 3,387.91 3,017.23 3,938.31 9,119.68 3,429.26
48
32,418.
Interest 7,867.98 7,869.29 7,606.37 8,254.75 8,386.11 8,171.73
96
Exceptional Item -- -- -- -- -- -- --
11,278.
P/L Before Tax 2,483.57 2,574.57 2,213.80 2,811.22 3,553.38 2,700.21
61
Tax 425.38 525.57 189.16 369.40 451.11 467.86 1,477.5
48 | Page
3
P/L After Tax from 9,801.0
2,058.19 2,049.00 2,024.64 2,441.82 3,102.27 2,232.35
Ordinary Activities 8
9,801.0
PAT 2,058.19 2,049.00 2,024.64 2,441.82 3,102.27 2,232.35
8
Minority Interest -- -- -- -- -- -- --
Share Of P/L Of
-- -- -- -- -- -- --
Associates
Net Profit/(Loss)
-- -- -- -- -- -- --
For the Period
1,165.1
Equity Share Capital 1,283.58 1,282.78 1,165.11 1,164.33 1,164.01 1,163.60
1
98,456.5 96,293.7 95,737.5 93,519.4 91,021.7 87,956.1 95,737.
Reserves
2 1 7 8 7 7 57
Equity Dividend
-- -- -- -- -- -- 125.00
Rate (%)
% of Share by Govt. 0.14 0.17 0.19 0.12 0.12 0.15 0.19
44,488.5 43,147.6 42,551.5 37,716.7 32,178.6 27,193.5 42,551.
Gross NPA
4 4 4 3 0 8 54
24,129.7 25,306.2 25,451.0 19,887.2 16,214.8 15,040.7 25,451.
Net NPA
8 1 3 2 6 0 03
% of Gross NPA 7.87 7.99 7.89 7.91 6.82 5.87 7.89
% of Net NPA 4.43 4.86 4.89 4.35 3.57 3.35 4.89
Return on Assets % 1.08 1.09 1.10 1.30 1.70 1.27 1.10
EPS (Rs.) [After
Extraordinary 3.21 3.20 3.48 4.20 5.33 3.84 16.84
items]
EPS (Rs.) [Before
Extraordinary 3.21 3.20 3.48 4.20 5.33 3.84 16.84
items]

QUARTERLY RESULTS
Mar-17 Dec-16 Mar-16 Dec-15 Mar-15 Dec-14 Mar-17

Quarterl Quarterly Quarterl Quarterly Quarterl Quarterly Annual
y y y
Net 15,227.07 15,309.05 15,164.93 15,014.29 14,277.70 13,909.13 60,939.98
Sales/Income
from operations
Int. /Disc. on 10,585.33 10,467.73 10,706.35 10,525.51 9,980.34 9,632.62 42,080.37
Adv/Bills
Income on 3,601.76 3,981.26 3,605.35 3,587.18 3,813.87 3,816.55 15,456.07
Investment
49 | Page
Int. on balances 318.08 158.68 92.64 73.69 81.40 98.74 623.00

With RBI
Others 721.90 701.38 760.59 827.91 402.09 361.22 2,780.54
Total Income 30,454.14 30,618.10 30,329.86 30,028.58 28,555.40 27,818.26 121,879.96
From
Operations
Employees Cost 2,002.05 1,970.69 1,844.95 1,606.98 1,722.26 1,583.93 7,893.26
Other Expenses 12,206.98 10,379.11 10,276.31 8,139.51 8,750.67 7,198.41 40,276.71
Total 14,209.03 12,349.80 12,121.26 9,746.49 10,472.93 8,782.34 48,169.97
Expenditure
Operating 6,264.85 6,671.22 7,382.03 7,312.02 6,200.85 6,068.36 30,391.83
Profit before
Provisions and
contingencies
Provisions And 3,463.52 3,124.43 3,496.97 3,061.06 1,571.49 1,235.33 16,582.48
Contingencies
Other Income 13,376.22 12,566.62 13,051.85 10,570.85 10,636.56 9,144.69 52,457.65
Interest 8,129.41 8,854.65 8,713.49 8,526.63 8,240.48 8,203.12 34,835.83
Exceptional Item -- -- -3,600.00 -- -- -- --
P/L Before Tax 2,801.33 3,546.79 285.06 4,250.96 4,629.36 4,833.03 13,809.35
Tax 403.29 587.83 -314.10 938.56 1,376.89 1,366.18 2,469.02
P/L After Tax 2,398.04 2,958.96 599.16 3,312.40 3,252.47 3,466.85 11,340.33
from Ordinary
Activities
PAT 2,398.04 2,958.96 599.16 3,312.40 3,252.47 3,466.85 11,340.33
Minority Interest -315.29 -348.13 -- -- -167.55 -201.53 -1,151.95
Share Of P/L Of -- -- -192.45 -190.05 -- -- --
Associates
Net 2,082.75 2,610.83 406.71 3,122.35 3,084.92 3,265.32 10,188.38
Profit/(Loss)
For the Period
Equity Share 1,165.11 1,164.33 1,163.17 1,162.65 1,159.66 1,158.51 1,165.11
Capital
Reserves -- -- -- -- -- -- 100,395.52
Equity Dividend -- -- -- -- -- -- --
Rate (%)
% of Share by -- -- -- -- -- -- --
Govt.
Gross NPA -- -- -- -- -- -- --
50 | Page
Net NPA -- -- -- -- -- -- --
% of Gross NPA -- -- -- -- -- -- --
% of Net NPA -- -- -- -- -- -- --
Return on Assets -- -- -- -- -- -- --
%
EPS (Rs.) 3.58 4.49 0.70 5.37 5.32 5.64 17.51
[After
Extraordinary
items]
EPS (Rs.) 3.58 4.49 0.70 5.37 5.32 5.64 17.5
[Before
Extraordinary
items]
RATIO ANALYSIS
Among all the ratios these are the most important ratios to look before investing in a
company.
A liquidity ratio that measures a companys

Current Ratio > 2 is Good, ability to pay short-term obligations. The
0.43
(x) < 2 is Not Good higher the current ratio, the more capable
the company is of paying its obligations.
The quick ratio measures a company's

ability to meet its short-term obligations
> 1 is Good,
Quick Ratio (x) 3.55 with its most liquid assets. For this reason,
< 1 is Not Good
the ratio excludes inventories from current
assets
A financial ratio that shows how much a

company pays out in dividends each year
Dividend Yield > 1.5 is Good,
0.81 relative to its share price. Dividend yield is
(%) < 1.5 is Not Good
calculated as annual dividends per share
divided by market price per share.
51 | Page
> 2 is Good,
It is used to determine how easily a
Interest < 2 is Not Good
company can pay interest on outstanding
Coverage Ratio 3.40 (For Banks &
debt. It is calculated by dividing a
(x) NBFC this is not
companys EBIT by the interest expenses.
Valid)
< 2 is Good, A measure of a companys financial

> 2 is Not Good leverage calculated by dividing its total
Debt Equity
1.85 (For Banks & liabilities by stockholders equity. The
Ratio (x)
NBFC this is not debt/equity ratio also depends on the
Valid) industry in which the company operates.
An indicator of how efficient management

Return On > 5% is Good, is at using its assets to generate earnings.
12.32
Asset (%) < 5% is Not Good Calculated by dividing a companys annual
earnings by its total assets
Also called Return on networth, it

measures a companys profitability by
revealing how much profit a company
> 18% is Good,
Return On generates with the money shareholders
10.03 < 18% is Not
Equity (%) have invested, it is calculated by dividing
Good
the net profit after tax by shareholder's
fund For high growth companies you
should expect a higher ROE.
For investors interested in ICICI BANK find all important information on ICICI BANK share
price, peer comparison and analysis.

DIVIDEND

Get a glimpse into the dividend history-payout amount of ICICIBANK, interim dividend and
the latest dividend announcements by ICICIBANK in the last 5 years.
Announceme
# Ex-Date Amount Interim/Final
nt Date
1 04-May-2017 20-Jun-2017 2.50 Final
2 29-Apr-2016 16-Jun-2016 5.00 Final
3 27-Apr-2015 04-Jun-2015 5.00 Final
4 25-Apr-2014 05-Jun-2014 23.00 Final
5 26-Apr-2013 30-May-2013 20.00 Final
6 27-Apr-2012 31-May-2012 16.50 Final
7 28-Apr-2011 02-Jun-2011 14.00 Final
8 26-Apr-2010 10-Jun-2010 12.00 Final
9 27-Apr-2009 11-Jun-2009 11.00 Final
52 | Page
10 28-Apr-2008 10-Jul-2008 11.00 Final

Look up all relevant information on shareholding pattern of ICICIBANK, the change in

Jun- Jun-
Shareholding Pattern Sep-17 Mar-17 Dec-16
17 17
Promoter and Promoter

NIL NIL NIL NIL NIL
Group (%)
Indian NIL NIL NIL NIL NIL
Institutions (%) 66.46 65.35 65.58 66.18 66.12
FII 34.50 34.94 34.97 35.04 37.17
53 | Page
DII 31.95 30.41 30.61 31.14 28.96
Others 8.67 9.56 9.32 8.53 8.57
Custodians 24.88 25.10 25.10 25.30 25.31

PUBLIC SHAREHOLDING

Persons holding securities

more than 1% of total
Dec- Jun- Mar- Dec- Mar-
number of shares under Category
16 16 16 15 17
category Public
Shareholding.
Life Insurance Corporation of

NonPromoters 10.94 NIL NIL NIL 10.45
India Limited
DODGE AND COX

INTERNATIONAL STOCK NonPromoters 6.26 6.39 NIL NIL 6.26
FUND
54 | Page
GOVERNMENT OF
NonPromoters 1.09 1.11 NIL NIL 1.08
SINGAPORE
GOVERNMENT PENSION
NonPromoters NIL NIL NIL NIL 1.02
FUND GLOBAL
EUROPACIFIC GROWTH
NonPromoters 1.78 NIL NIL NIL NIL
FUND
Life Insurance Corporation of

NonPromoters NIL NIL 10.29 NIL NIL
India
Europacific Growth Fund NonPromoters NIL NIL 2.24 NIL NIL
Carmignac Geston Ac
NonPromoters NIL NIL 1.21 NIL NIL
Carmignac Patrimoine
Bodies Corporate NonPromoters NIL NIL NIL 2.27 NIL

Last Prv Chan %

# Company Name Open High Low
Price Price ge Chng
276.5
1 ICICI BANK 274.75 273.20 273.90 273.90 0 0.00
5
187.0
2 DCB BANK 187.00 181.00 184.05 184.05 0 0.00
0
STATE BANK OF 613.9
3 599.95 599.00 608.75 608.75 0 0.00
TRAVANCORE 0
4 JK BANK 74.10 74.50 73.05 74.10 74.10 0 0.00
524.4
5 RBL BANK 524.40 519.75 521.85 521.85 0 0.00
0
161.8
6 CITY UNION BANK 159.80 158.50 160.30 160.30 0 0.00
0
275.0
7 INDIAN BANK 269.80 268.20 271.25 271.25 0 0.00
0
55 | Page
8 UCO BANK 29.40 29.80 29.35 29.65 29.65 0 0.00

KARUR VYSYA 130.2
9 130.00 127.25 127.70 127.70 0 0.00
BANK 0
1 CENTRAL BANK OF
78.65 79.00 77.60 78.20 78.20 0 0.00
0 INDIA
1
DENA BANK 30.50 30.55 30.20 30.25 30.25 0 0.00
1
1 779.8
SBBJ 762.65 761.15 771.85 771.85 0 0.00
2 0
1
IOB 22.10 22.35 22.10 22.30 22.30 0 0.00
3
1
VIJAYA BANK 57.15 58.55 56.75 57.80 57.80 0 0.00
4
1 LAKSHMI VILAS 150.6
143.50 142.75 149.75 149.75 0 0.00
5 BANK 0
1 CORPORATION
39.65 40.00 39.10 39.25 39.25 0 0.00
6 BANK
(5)
HDFC (Housing Development Financial Corporation) Bank Limited is an Indian banking and
financial services company headquartered in Mumbai, Maharashtra. It has 84,325 employees
and has a presence in Bahrain, Hong Kong and Dubai. HDFC Bank is India’s largest private
sector lender by assets. It is the largest bank in India by market capitalization as of February
2016. It was ranked 69th in 2016 BrandZ Top 100 Most Valuable Global Brands.
56 | Page
COMPANY PROFILE
Study HDFCBANK management, company profile, ownership, management, Board of
Directors and Organization Structure of HDFCBANK
COMPANY PROFILE OF HDFC BANK, NSE, INDIA

Date of Incorporation 30-Aug-1994
Date of Listing 14-Jun-1995
Management
Name Designation
Srikanth Nadhamuni Additional Director
Shyamala Gopinath Chairperson
Paresh Sukthankar Deputy Managing Director
Keki Mistry Director
Malay Patel Director
Bobby Parikh Director
Partho Datta Director
Umesh Chandra Sarangi Director
Renu Karnad Director
A N Roy Director
Kaizad Bharucha Executive Director
Aditya Puri Managing Director
HDFC Bank House,Senapati Bapat Marg,Lower Parel,, 400013, Mumbai, Maharashtra, India,
Website
http://www.hdfcbank.com
5.1 History
In 1994 HDFC Bank was incorporated, with its registered office in Mumbai, India. Its first
corporate office and a full service branch at Sandoz House, Worli were inaugurated by the
then Union Finance Minister, Manmohan Singh. As of June 30, 2017, the bank’s distribution
network was at 4,727 branches and 12,220 ATMs across 2,666 cities and towns.
5.2 Products and services
57 | Page
HDFC Bank provides a number of products and services including wholesale banking, retail
banking, treasury, auto loans, two-wheeler loans, personal loans, loans against property and
credit cards. The latest entry in the league is 'Project AI', under which HDFC Bank, over the
next few weeks, would deploy robots at select bank branches. These robots will offer options
such as cash withdrawal or deposit, forex, fixed deposits and demat services displaying on a
screen to customers.
5.3 Acquisitions
HDFC Bank merged with Times Bank in February 2000. This was the first merger of two
private banks in the New Generation private sector banks category. In 2008, Centurion Bank
was acquired by HDFC Bank. HDFC Bank Board approved the acquisition of CBoP for 95.1
billion INR in one of the largest mergers in the financial sector in India.
5.4 Listings and shareholding

The equity shares of HDFC Bank are listed on the Bombay Stock Exchange and the National
Stock Exchange of India. Its American Depository Shares are listed on NYSE and the global
depository receipt are listed on the Luxembourg Stock Exchange where two GDRs represent
one equity share of HDFC Bank.
5.5 Amalgamations
In 2002, HDFC Bank witnessed its merger with Times Bank Limited (a private sector bank
promoted by Bennett, Coleman & Co. / Times Group). With this, HDFC and Times became
the first two private banks in the New Generation Private Sector Banks to have gone through
a merger. In 2008, RBI approved the amalgamation of Centurion Bank of Punjab with HDFC
Bank. With this, the Deposits of the merged entity became Rs. 1,22,000 crore, while the
Advances were Rs. 89,000 crore and Balance Sheet size was Rs. 1,63,000 crore.
5.6 Capital Structure
58 | Page
At present, HDFC Bank boasts of an authorized capital of Rs 550 crore (Rs5.5 billion), of
this the paid-up amount is Rs 424.6 crore (Rs.4.2 billion). In terms of equity share, the HDFC
Group holds 19.4%. Foreign Institutional Investors (FIIs) have around 28% of the equity and
about 17.6% is held by the ADS Depository (in respect of the bank's American Depository
Shares (ADS) Issue). The bank has about 570,000 shareholders. Its shares find a listing on the
Stock Exchange, Mumbai and National Stock Exchange, while its American Depository
Shares are listed on the New York Stock Exchange (NYSE), under the symbol 'HDB'.
Balance Sheet of HDFC ------------------- in Rs. Cr. -------------------

Bank
Mar 17 Mar 16 Mar 15 Mar 14 Mar 13
59 | Page
EQUIT
IES
AND
LIABI
LITIE
S
SHAR
EHOL
DER'S
FUND
S
Equity
Share 512.51 505.64 501.30 479.81 475.88
Capital
Total
Share 512.51 505.64 501.30 479.81 475.88
Capital
Reserve
88,949. 72,172. 61,508. 42,998. 35,738.
s and
84 13 12 82 26
Surplus
Total
Reserve 88,949. 72,172. 61,508. 42,998. 35,738.
s and 84 13 12 82 26
Surplus
Total
Share
89,462. 72,677. 62,009. 43,478. 36,214.
Holder
35 76 42 63 15
s
Funds
Deposit 643,63 546,42 450,79 367,33 296,24

s 9.66 4.19 5.64 7.48 6.98
Borrow 74,028. 53,018. 45,213. 39,438. 33,006.

ings 87 47 56 99 60
Other 56,709. 36,725. 32,484. 41,344. 34,864.

Liabiliti
60 | Page
es and
Provisi 32 13 46 40 17
ons
Total
Capital
863,84 708,84 590,50 491,59 400,33
and
0.19 5.57 3.07 9.50 1.90
Liabilit
ies
ASSETS
Cash
and
Balance
37,896. 30,058. 27,510. 25,345. 14,627.
s with
88 31 45 63 40
Reserve
Bank of
India
Balance
s with
Banks
Money 11,055. 8,860.5 8,821.0 14,238. 12,652.
at Call 22 3 0 01 77
and
Short
Notice
Investm 214,46 163,88 166,45 120,95 111,61

ents 3.34 5.77 9.95 1.07 3.60
Advanc 554,56 464,59 365,49 303,00 239,72

es 8.20 3.96 5.03 0.27 0.64
Fixed 3,626.7 3,343.1 3,121.7 2,939.9 2,703.0

Assets 4 6 3 2 8
Other 42,229. 38,103. 19,094. 25,124. 19,014.

Assets 82 84 91 60 41
Total 863,84 708,84 590,50 491,59 400,33

Assets 0.19 5.57 3.07 9.50 1.90
OTHER ADDITIONAL INFORMATION
61 | Page
Numbe
r of 4,715.0 4,520.0 4,014.0 3,403.0 3,062.0
Branch 0 0 0 0 0
es
Numbe
r of 84,325. 87,555. 76,286. 68,165. 69,065.
Employ 00 00 00 00 00
ees
Capital 15.00 16.00 17.00 16.00 17.00

Adequa
cy
Ratios
(%)
KEY PERFORMANCE INDICATORS
Tier 1
13.00 13.00 14.00 12.00 11.00
(%)
Tier 2
2.00 2.00 3.00 4.00 6.00
(%)
ASSETS QUALITY
Gross 5,885.6 4,392.8 3,438.3 2,989.2 2,334.6

NPA 6 3 8 8 4
Gross
NPA 1.00 1.00 1.00 1.00 1.00
(%)
Net 1,843.9 1,320.3

896.28 820.03 468.95
NPA 9 7
CONTINGENT LIABILITIES,
COMMITMENTS
Bills
for 30,848. 55,242. 22,304. 20,943. 26,103.
Collecti 04 58 93 06 96
on
Conting 817,86 821,56 975,23 723,15 720,12

ent 9.59 5.54 3.95 4.91 2.43
Liabiliti
62 | Page
es
Stand
alone
Profit
& ------------------- in Rs. Cr. -------------------
Loss
accou
nt
Mar Mar Mar Mar
Mar '13
'17 '16 '15 '14
Income
Interest Earned 69,305.96 60,221.45 48,469.90 41,135.53 35,064.87
Other Income 12,296.50 10,751.72 8,996.35 7,919.64 6,852.62
Total Income 81,602.46 70,973.17 57,466.25 49,055.17 41,917.49
Expenditure
Employee Cost 6,483.66 5,702.20 4,750.96 4,178.98 3,965.38
Depreciation 833.12 705.84 656.30 671.61 651.67
Total Expenses 67,052.80 58,676.95 47,250.35 40,576.80 35,191.21
63 | Page
Total 38,077.33 30,924.00 24,870.07 19,610.56 15,125.93
Equity Dividend 0.00 2,401.78 2,005.20 1,643.35 1,309.08
Equity Dividend (%) 550.00 475.00 400.00 342.50 275.00
Book Value (Rs) 349.12 287.47 247.39 181.23 152.20
Appropriations
Transfer to Other Reserves 1,454.97 1,229.62 1,021.59 847.84 672.63
0.00 2,890.73 2,413.41 1,922.64 1,531.56
Govt
Total 38,077.33 30,924.01 24,870.07 19,610.56 15,125.93
HDFC BANK Fundamental Report
SHARE PRICE
Get to know the company overview of HDFCBANK - face value, book value, exchange
% promoter holding pledged before investing in HDFCBANK

Face Value (Rs.) 2
52 Week High (Rs.) 1879.60 (24-Oct-
17)
52 Week Low (Rs.) 1163.60 (15-
Dec-16)
Life Time high (Rs.) 1879.60 (24-Oct-
64 | Page
17)
Life Time low (Rs.) 4.79 (29-Jan-96)
Exchange Symbol HDFCBANK
(NSE)
Average Volume [20 days](No. of 1161391
shares)
P/E Ratio (x) 30.10
SHARE PRICE CHART

are used for exits.
QUARTERLY RESULTS
Standalone Income Statement (In Cr.)
Quarterly Quarterl Quarterl Quarterly Quarterly Quarterl Annual
y y y
Net -- -- -- -- -- -- --
Sales/Income
from operations
Int. /Disc. on 15,355.75 14,486.06 13,507.45 13,175.64 12,901.36 12,470.81 52,055.26
Adv/Bills
Income on 4,006.46 3,892.97 4,267.69 4,049.34 3,818.07 3,809.24 15,944.34
Investment
Int. on balances 106.49 108.20 165.26 186.88 139.67 40.21 532.02
With RBI
Others 201.58 181.49 174.00 193.74 210.84 195.76 774.34
Total Income 19,670.28 18,668.72 18,114.40 17,605.60 17,069.94 16,516.02 69,305.96
65 | Page
From
Operations
Employees Cost 1,715.77 1,657.51 1,552.65 1,688.63 1,657.21 1,585.17 6,483.66
Other Expenses 3,824.28 3,709.95 3,669.31 3,153.88 3,212.78 3,183.69 13,219.66
Total 5,540.05 5,367.46 5,221.96 4,842.51 4,869.99 4,768.86 19,703.32
Expenditure
Operating 7,817.92 7,519.94 7,279.40 6,609.25 6,024.55 5,819.19 25,732.39
Profit before
Provisions and
contingencies
Provisions And 1,476.19 1,558.76 1,261.80 715.78 748.99 866.73 3,593.30
Contingencies
Other Income 3,605.90 3,516.66 3,446.26 3,142.67 2,900.95 2,806.61 12,296.49
Interest 9,918.21 9,297.98 9,059.30 9,296.51 9,076.35 8,734.58 36,166.74
P/L Before Tax 6,341.73 5,961.18 6,017.60 5,893.47 5,275.56 4,952.46 22,139.09
Tax 2,190.70 2,067.34 2,027.51 2,028.14 1,820.23 1,713.55 7,589.43
P/L After Tax 4,151.03 3,893.84 3,990.09 3,865.33 3,455.33 3,238.91 14,549.66
from Ordinary
Activities
PAT 4,151.03 3,893.84 3,990.09 3,865.33 3,455.33 3,238.91 14,549.66
Minority -- -- -- -- -- -- --
Interest
Share Of P/L Of -- -- -- -- -- -- --
Associates
Net -- -- -- -- -- -- --
Profit/(Loss)
For the Period
Equity Share 516.80 514.78 512.51 511.07 509.13 507.01 512.51
Capital
Reserves -- -- 88,949.87 -- -- -- 88,949.84
Equity Dividend -- -- -- -- -- -- 550.00
Rate (%)
Gross NPA 7,702.84 7,242.93 5,885.66 5,232.27 5,069.04 4,920.89 5,885.66
Net NPA 2,596.83 2,528.21 1,843.99 1,564.32 1,488.85 1,493.39 1,843.99
% of Gross 1.26 1.24 1.05 1.05 1.02 1.04 1.05
NPA
% of Net NPA 0.43 0.44 0.33 0.32 0.30 0.32 0.33
Return on 0.47 0.46 0.48 0.50 0.50 0.50 1.88
Assets %
66 | Page
EPS (Rs.) 16.10 15.20 15.60 15.20 13.60 12.80 57.20

[After
Extraordinary
items]
EPS (Rs.) 16.10 15.20 15.60 15.20 13.60 12.80 57.20
[Before
Extraordinary
items]


Mar-17
Annual
Net Sales/Income from operations 73,271.36
Int. /Disc. on Adv/Bills 55,986.18
Income on Investment 15,951.56
Int. on balances With RBI 544.86
Others 788.76
Total Income From Operations 146,542.72
Employees Cost 8,504.70
Other Expenses 12,246.37
Total Expenditure 20,751.07
Operating Profit before Provisions and contingencies 27,356.34
Provisions And Contingencies 3,990.81
67 | Page
Other Income 12,877.63

Interest 38,041.58
P/L Before Tax 23,365.53
Tax 8,078.12
P/L After Tax from Ordinary Activities 15,287.41
PAT 15,287.41
Minority Interest -36.72
Share Of P/L Of Associates 2.34
Net Profit/(Loss) For the Period 15,253.03
Equity Share Capital 512.51
Reserves 91,281.44
Equity Dividend Rate (%) --
Gross NPA --
Net NPA --
% of Gross NPA --
% of Net NPA --
Return on Assets % --
EPS (Rs.) [After Extraordinary items] 60.00
EPS (Rs.) [Before Extraordinary items] 60.00
RATIO ANALYSISAmong all the ratios these are the most important ratios to look before
investing in a company.

0.73 > 2 is Good, A liquidity ratio that measures a companys
Current Ratio < 2 is Not Good ability to pay short-term obligations. The
(x) higher the current ratio, the more capable the
company is of paying its obligations.
11.35 > 1 is Good, The quick ratio measures a company's ability
< 1 is Not Good to meet its short-term obligations with its most
Quick Ratio (x)
liquid assets. For this reason, the ratio excludes
inventories from current assets
0.59 > 1.5 is Good, A financial ratio that shows how much a
< 1.5 is Not company pays out in dividends each year
Dividend Yield
Good relative to its share price. Dividend yield is
(%)
calculated as annual dividends per share
divided by market price per share.
68 | Page
2.08 > 2 is Good, It is used to determine how easily a company

< 2 is Not can pay interest on outstanding debt. It is
Interest
Good calculated by dividing a companys EBIT by
Coverage Ratio
(For Banks & the interest expenses.
(x)
NBFC this is
not Valid)
1.07 < 2 is Good, A measure of a companys financial leverage
> 2 is Not calculated by dividing its total liabilities by
Debt Equity Good stockholders equity. The debt/equity ratio also
Ratio (x) (For Banks & depends on the industry in which the company
NBFC this is operates.
not Valid)
32.60 > 5% is Good, An indicator of how efficient management is at
Return On Asset < 5% is Not using its assets to generate earnings.
(%) Good Calculated by dividing a companys annual
earnings by its total assets
16.61 > 18% is Good, Also called Return on networth, it measures a
< 18% is Not companys profitability by revealing how much
Good profit a company generates with the money
Return On
shareholders have invested, it is calculated by
Equity (%)
dividing the net profit after tax by
shareholder's fund For high growth companies
you should expect a higher ROE.
For investors interested in HDFC BANK find all important information on HDFC BANK
share price, peer comparison and analysis.

DIVIDEND

Get a glimpse into the dividend history-payout amount of HDFCBANK, interim dividend and
the latest dividend announcements by HDFCBANK in the last 5 years.
# Announcement Date Ex-Date Amount Interim/Final

1 24-Apr-2017 29-Jun-2017 11.00 Final
2 22-Apr-2016 29-Jun-2016 9.50 Final
3 23-Apr-2015 02-Jul-2015 8.00 Final
4 22-Apr-2014 05-Jun-2014 6.85 Final
5 23-Apr-2013 13-Jun-2013 5.50 Final
6 18-Apr-2012 28-Jun-2012 4.30 Final
7 18-Apr-2011 02-Jun-2011 16.50 Final
8 26-Apr-2010 10-Jun-2010 12.00 Final
9 23-Apr-2009 22-Jun-2009 10.00 Final
69 | Page
10 15-May-2008 05-Jun-2008 8.50 Final

11 10-Apr-2008 29-Apr-2008 8.50 Final

Look up all relevant information on shareholding pattern of HDFCBANK, the change in
Shareholding Pattern Sep-17 Jun-17 Mar-17 Dec-16 Sep-16
Promoter and Promoter Group 21.02 21.10 21.20 21.26 21.34
(%)
Indian 21.02 21.10 21.20 21.26 21.34
Institutions (%) 45.55 45.37 45.01 44.30 43.82
FII 33.91 34.31 34.35 31.95 32.04
DII 11.64 11.06 10.66 12.36 11.77
Others 15.12 15.15 15.33 15.93 16.26
Custodians 18.30 18.38 18.46 18.51 18.58
PUBLIC SHAREHOLDING:
Persons holding securities more than Category Dec- Jun- Mar- Dec- Mar-17
1% of total number of shares under 16 16 16 15
category Public Shareholding.
Housing Development Finance Promoters 18.88 19.07 19.13 NIL 18.82
Corporation Limited
HDFC Investments Limited Promoters 7.20 7.27 7.30 NIL 7.18
Bodies Corporate NonPromoters 7.60 8.42 8.36 7.04 6.87
Europacific Growth Fund NonPromoters 4.76 4.81 4.77 3.85 4.80
Life Insurance Corporation of India NonPromoters 2.67 2.67 2.98 2.16 2.65
Capital World Growth and Income NonPromoters 1.78 1.77 1.78 NIL 1.80
Fund
ICICI Prudential Life Insurance NonPromoters NIL NIL NIL NIL 1.72
Company Limited
70 | Page
SBI-ETF NIFTY 50 NonPromoters NIL NIL NIL NIL 1.47

Government of Singapore NonPromoters 1.37 1.38 1.39 1.15 1.44
ICICI Prudential Value Discovery NonPromoters 1.98 NIL NIL NIL 1.42
Fund
ICICI Prudential Life Insurance NonPromoters 1.87 1.95 NIL NIL NIL
Company Ltd
SBI-ETF Nifty 50 NonPromoters 1.46 NIL NIL NIL NIL
Reliance Capital Trustee Co Ltd A/c NonPromoters 1.26 NIL NIL NIL NIL
Reliance Banking Fund
ICICI Prudential Focussed Bluechip NonPromoters NIL 1.40 NIL NIL NIL
Quity Fund
ICICI Prudential Focused Bluechip NonPromoters NIL NIL 1.40 1.45 NIL
Equity Fund
Foreign Institutional Investors NonPromoters NIL NIL NIL 32.33 NIL
Housing Development Finance Promoters NIL NIL NIL 15.57 NIL
Corporation Ltd
HDFC Investment Ltd Promoters NIL NIL NIL 5.94 NIL
ICICI Prudential Life Insurance Co Ltd NonPromoters NIL NIL NIL 1.62 NIL
Capital Word Growth & Income Fund NonPromoters NIL NIL NIL 1.39 NIL
Reliance Opportunity Fund NonPromoters NIL NIL NIL 1.02 NIL

Last Prv
# Company Name Open High Low Price Price Change % Chng
1 HDFC BANK 1850.00 1853.70 1839.1 1851.25 1851.25 0 0.00
0
2 DCB BANK 187.00 187.00 181.00 184.05 184.05 0 0.00
3 STATE BANK 599.95 613.90 599.00 608.75 608.75 0 0.00
OF
TRAVANCORE
4 JK BANK 74.10 74.50 73.05 74.10 74.10 0 0.00
5 CITY UNION 159.80 161.80 158.50 160.30 160.30 0 0.00
BANK
6 RBL BANK 524.40 524.40 519.75 521.85 521.85 0 0.00
7 UCO BANK 29.40 29.80 29.35 29.65 29.65 0 0.00
8 INDIAN BANK 269.80 275.00 268.20 271.25 271.25 0 0.00
9 CENTRAL 78.65 79.00 77.60 78.20 78.20 0 0.00
BANK OF
71 | Page
INDIA
10 KARUR VYSYA 130.00 130.20 127.25 127.70 127.70 0 0.00
BANK
11 DENA BANK 30.50 30.55 30.20 30.25 30.25 0 0.00
12 SBBJ 762.65 779.80 761.15 771.85 771.85 0 0.00
13 VIJAYA BANK 57.15 58.55 56.75 57.80 57.80 0 0.00
14 IOB 22.10 22.35 22.10 22.30 22.30 0 0.00
15 CORPORATION 39.65 40.00 39.10 39.25 39.25 0 0.00
BANK
16 LAKSHMI 143.50 150.60 142.75 149.75 149.75 0 0.00
VILAS BANK
72 | Page
(6)
Some important Aspects Of banking Sector in Emerging India:
Role of Banks in the Development of Indian Economy:
In the moderns economic system, banks play a very important role in economic development.
Commercial banks, which is an important part of the financial system of the country, perform
the following important functions:
• Commercial banks are encouraging people to save.
• Mobilising the savings for the purpose of investments in various sectors of the economy.
• Through the Co-ordinating function between savings and investments, Commercial banks
help the process of capital formation.
• The creation credit, if it is used for production purposes, greatly enlarge production and
involvement and thus promotes economic growth.
• Commercial banks are of great assistance in foreign trade.
• Commercial banks promote balanced regional development in the country by providing

essential financial infrastructure and funds for backward regions.
• By providing agricultural credit, Commercial banks also help to promote primary sectors.
• Commercial banks help in expanding the size of the market.
• Commercial banks help the government to fulfill almost every objective of planned
economic development.
Growth in Banking Sector Deposits:
• During FY06–17, deposits grew at a CAGR of 12.03 per cent and reached 1.54 trillion by
FY171.
73 | Page
• Strong growth in savings amid rising disposable income levels are the major factors
influencing deposit growth.
• Access to banking system has also improved over the years due to persistent government
efforts to promote banking-technology and promote expansion in unbanked and non-
metropolitan regions.
• At the same time India’s banking sector has remained stable despite global upheavals,
thereby retaining public confidence over the years.
• Deposits under Pradhan Mantri Jan Dhan Yojana (PMJDY), have also increased. As on
November 9, 2016, US$ 6,971.68 million were deposited, while 255.1 million accounts were
opened
'A year of rapid development expected in India's Banking Sector':
The financial market in India is under major transformation with several policy initiatives to
bring more transparency in financial transaction and also efforts to offer the banking services
to people in far flung areas.
The financial market in India is under major transformation with several policy initiatives to
bring more transparency in financial transaction and also efforts to offer the banking services
to people in far flung areas. This would help creating positive business sentiments and
improved consumer confidence to prop-up the country's economic growth wherein the India's
banking sector is likely to play a key role in meeting credit needs of various sectors of the
economy.
In this context, the advancements in technology is going to play a major role such as banking
services through mobile and interest modes. Encouraged by the Prime Minister vision of
Digital India, the banking sector is laying greater emphasis on providing improved services to
their clients and also upgrading their technology infrastructure, in order to enhance the
customer's overall experience as well as give banks a competitive edge. The rise of the digital
assistant in 2017 will have a significant impact on the POS and retail industries. In 2017,
digital assistants will interact with users on a more personal level, connecting all the data, and
providing them with helpful information based on online habits and behaviors.
74 | Page
It is also a fact that Reserve Bank of India (RBI) has rolled out certain innovative banking
models like small finance banks. The central bank granted in-principle approval to 10 small
finance banks in FY 2015-16. With many more in FY17, RBI's new measure may go a long
way in helping the restructuring of the domestic banking industry. The new entrants will
intensify competition, particularly in the hinterland of India with new products, technology
and higher rates to woo depositors and lower rates to sell loans. Small finance banks will help
in bringing the unbanked population under banking gamut, thereby supporting and
encouraging the financial inclusion agenda of the Government. These banks will be less
dependent on cash and more on digital technology, enabling them to cover people from the
hinterland areas deprived from banking services till now. It would not be wrong to say that
the initiative to set up small payment banks by the RBI is the biggest reform to drive financial
inclusion in the country. Further, allowing the small finance banks to use digital banking to
open bank accounts - open accounts without a wet signature, relying on the digital signatures
and electronic verification, will be significant as this makes the process of on boarding a
customer from distant locations easier.
The Government initiatives to priorities the JAM Trinity - Jan Dhan, Aadhaar and mobile -
holds the key to one of the biggest reforms aimed at transforming India. To accelerate
financial inclusion in India, the JAM Trinity works across different sectors and will be the
backbone for this government initiative. It will provide a boost both to traditional banks and
telecom companies as well as new entrants such as payments banks and fin-tech start-ups.
Large-scale enrolments under the Jan Dhan Yojana and Pradhan Mantri Suraksha Bima
Yojana have been an enabler.
The forthcoming budget would like to focus on inclusive growth, smooth financial
transaction on digital platforms, lowering IT rates to encourage additional savings, greater
investment in infrastructure, agriculture and affordable housing sector. With a vision to move
towards a cashless economy, the government may announce further measures to encourage
digital payments.
By all indications, the budget may see the relentless push by the government for a cashless
economy and its implementation by the banking system. There is a need to position the
financial institutions like small banks to meet the future challenges with innovative ways and
survive.
75 | Page
Is the banking sector a good choice for value investing?
The banking sector is a good choice for value investing. Value investors look for stocks in
which the market price does not fully reflect the business's future cash flows. Often, they
aggressively buy when others sell during times of bad news, poor performance or weak
economic conditions. When most chase after stocks as they gallop higher, value investors
sell.
Value investors are focused on the long term. Distress in the broader market or on an
individual stock basis is what creates opportunities for value investors to buy at appealing
discounts. The banking sector is quite sensitive to the economic cycle, so it is susceptible to
extremes in price and valuations that attract value investors.
At the nadir of the cycle, fear runs amok. This is the climate in which emotions drive price
rather than fundamentals. Stocks in the banking sector are hit particularly hard; they have
massive amounts of leverage and are intimately connected to the economy. Bank balance
sheets typically operate at leverage in the double digits, so a small loss in asset value can turn
the banks insolvent. This augments irrational extremes that are typically found at market
extremes.
When banks have made loans that need to be paid back, the risk of default is much higher.
Further, new lending becomes difficult, as the economy makes everyone unwilling or unable
to take on significant risk. Compounding these issues are the lowered interest rates, which
make banking less profitable, although this is helpful for asset prices that help repair bank
balance sheets.
The perspective of a value investor can be better understood through Benjamin Graham's
description of the stock market as a voting machine in the short term but a weighing machine
in the long term. The meaning of this metaphor is that in the short term, stock prices are
determined by the emotions and opinions of market participants. However, in the long term,
the price is driven by the actual performance of the business.
Graham is considered the father of value investing, emphasizing a focus on a stock's long-
term fundamentals. Since bank stocks are one of the most susceptible to these emotional
76 | Page
short-term forces given the leverage and nature of the business, it is natural that value
investors will be drawn to this sector.
Quantitatively, value investors seek out stocks with low price to earnings ratios.
Sometimes, if a company is really struggling, it may be losing money, so this metric is less
useful than sales or gross margins. Another measure of value is the price to book ratio. The
book value of the company reflects the accounting value of the company after accounting for
all types of liabilities.
Banking sector funds are performing well. Should you invest?
Demonetisation is breathing new life into banking sector funds. The category has returned
3.66 per cent in the last week, 1.96 per cent in the last month, 7.86 per cent in three months
and 24.68 per cent in the last one-year.
"Demonetisation has a good long term impact on the banking sector. It is actually good for
the overall economy," says D Sundararajan, investment consultant, Trendy Investments.
The demonetisation of Rs 500 and Rs 1000 currency notes is expected to boost liquidity in
the banking system, with people rushing to deposit money in banks.
According to Vinay Sharma, fund manager of ICICI Prudential Banking and Financial
Services Fund, huge bulge of deposits coming in the banking system may result in the interest
rates coming down. "This is because the demand of money will not go up as sharply as the
supply has gone up," says Vinay Sharma. He also adds that the interest rates going down will
result in increased macro-economic activity which is good for the banking sector.
Non Performing Asset (NPA) issue has been troubling the sector for a long time. However,
experts believe that the situation may be improving.
"As the economy improves, naturally the NPAs also tend to shrink," says Dr D Sundararajan.
He adds that there is also a positive sentiment that is driving the sector. "The attack on black
money shows that this government means business and can implement serious reforms to
bring up the economy," he said.
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"Banking is a reflection of macro-economy. If the macro-economy is improving, the banking

sector will perform well," says Vinay Sharma. All our big indicators like current account
deficit and fiscal deficit are heading in the right direction. All this is the driving force for
banking sector's performance, he adds.
Should you invest in these funds?
Sector funds are risky. Investors with no or little knowledge of the sector should refrain from
getting into them. "If you already have a diversified portfolio of large, mid and small cap
funds as well as banking funds, then it is fine. But, you cannot invest in banking sector just
because they are currently performing well," says Sundararajan. Vinay Sharma advises to go
for an SIP in Banking sector if you have a diversified portfolio in place.
78 | Page
(7) Conclusion:
Whenever you're thinking of investing in a company it is vital that you understand what it
does, its market and the industry in which it operates. You should never blindly invest in a
company.
One of the most important areas for any investor to look at when researching a company is
the financial statements. It is essential to understand the purpose of each part of these
statements and how to interpret them
And in case of the banking Sector which is very volatile due to many factors at domestic
economy, government policies, market conditions and international factors the choice of
investing in banking sector must be done after in-depth study of the sector and continuous
watch on the changes in the same.
One can not blindly invest and expect good returns as in case of some other sector in the
market, but they should always alert and ready to take quick decision as to invest more or
switch over to some other sectors of more profitability.
Also one should not over look the banking sector while investing as the very growth of the
whole economy depends mainly on the funds generated by banking sectors from local
investors and also from foreign investors either individual or financial institutions.
But on an all, the banking sector has always been the major sector for individual investors
and financial institutions all over the globe. India in the regime of PM Narendra Modi is
attracting global investors for his ability to lead the country and achieving desired results with
his policies and supports of world giants like UAS.
79 | Page
(8) Recommendations & Suggestions for Indian Banks:
Today, banks play an important role in the payment and settlement system of financial
transactions. The introduction of liberalisation measures in the banking sector and the
emergence of new private sector and foreign banks equipped with latest technology, led to an
increase in competition in the banking sector. Technology up gradation is taking place in
public sector banks PSBs in a phased manner.
Computerisation is increasingly being applied in day to day deposits and loan operations, but
the pace at which it has moved so far, has been somewhat limited. Moreover, there is a need
for computerisation in a large number of areas of operations of banks, with customer service
as the main focus.
To further upgrade the existing technology in the banking sector and also to suggest measures
for implementation, the Reserve Bank appointed a Committee on Technology Up gradation
in the Banking Sector. The Committee in its report, submitted in July 1999, recommended a
new legislation on electronic-funds- transfer system to facilitate multiple payment systems to
be set up by banks and financial institutions.
The major recommendations of the committee are summarised as follows:
1. Communication infrastructure and usage of INFINET:
i. The approach that could be considered for improving the effectiveness of VSAT network
aim at enhancing the transponder capacity to the extent feasible and the number of out routes
as the demand grows.
ii. For both inter-bank and intra-bank applications, it is necessary to have an application
architecture keeping in mind that the INFINET backbone network will be VSAT based.
2. Standardisation and Security:
i. There should be an appropriate institutional arrangement for key management and

authentication by way of a certification agency. RBI may consider appointing IDRBT as the
certification agency for security management.
ii. Banks should adopt widely used standard of cryptography procedures to prevent data
tamper during transmission.
iii. The technology should be allowed to evolve into standard-based solutions for multi-
vendor heterogeneous environment working co-operatively and collectively for EFTPOS,
including the debit, credit and smart cards based operations.
80 | Page
3. Computerisation of Government Transactions:
i. There is a need to computerise all branches of banks dealing with government transactions.
ii. The computerisation of government departments should be synchronised with the

computerisation of bank branches dealing with government transactions.
iii. All PAOs/Circle offices should be computerised not later than March 31, 2001 and
DDO/Treasury offices before March 31, 2002 in alignment with the computerisation of FPBs
and dealing branches.
4. Data Warehousing, Data Mining and Management Information System:
i. A robust MIS founded on data warehousing and data mining at individual bank level is
essential for implementing various regulatory guidelines including the latest one on ALM.
ii. A Task Force may be set up by IBA to explore feasible methodology for working out a
unique identification system for individual customer data bases at banks.
5. Legal Framework for Electronic Banking:
i. The Reserve Bank may promote amendment to the Reserve Bank of India Act, 1934 and
assume the regulatory and supervisory powers on payment and settlement systems.
Simultaneously, the RBI may promote a new legislation on Electronic Funds Transfer System
to facilitate multiple payment system, to be set up for banks and financial institutions.
ii. The RBI and IBA should pursue with the Department of Telecommunications (DoT)/ other
competent authorities to permit encryption of data files/messages transmitted through
communication channels for facilitating easier access to remotely located branches to the
INFINET network.
6. Other Related Issues:
Re-engineering:
i. Banks may choose the branches and areas of operation where they have already introduced
a certain degree of automation and computerisation and review the systems and procedures in
these branches/areas to adapt them to the technology that is newly introduced.
ii. The newly established private banks which have the advantage of starting with the latest
technology from the very beginning, should take up the process of re-engineering in right
earnest.
iii. Each bank should chalk out a time-bound programme, synchronising with the level of
computerisation being planned by it, stemming from the directions of the top management.
81 | Page
7. Issues Relating to Human Resource Development:
Education of staff on IT should be given due importance. The training establishments of the
banks should be strengthened with adequate personnel and other infrastructure facilities, to
impart necessary IT training to all levels о staff.
8. Sharing of Experiences on Technology Implementation:
The meetings of CPPD Chiefs should be sufficiently frequent enough to be effective.

Meetings by the IBA for this purpose, once in two months would be useful.
Technological Progress in Banks:
Several banks have been positioning themselves as a one-stop shop financial service provider
with a fairly exhaustive range of products, including deposit products, loans, credit cards,
debit cards, depository (custody services), investment advice, bill payments and various
transactional services.
These apart, banks have also been entering into the business of selling third-party products
such as mutual funds and insurance to the retail customers. To provide their customers
greater flexibility and convenience as well as to reduce servicing costs, banks have been
investing to computerise their branches and in new delivery channels such as ATMs, phone
banking, internet banking and mobile banking.
Computerisation in Public Sector Banks (As on March 31, 2017):
(Per cent)
(i) Branches already Fully Computerised 60.0
(ii) Branches under Core Banking Solution 11.0
(iii) Fully Computerised Branches (i + ii) 71.0
(iv) Partially Computerised Branches 21.8
As on March 31, 2005, public sector banks had incurred an expenditure of Rs. 9,487 crore on
computerisation and development of communication networks. Computerisation of banking
business has received high importance in recent years. While new private sector banks,
foreign banks and a few older private sector banks have already put in place “core banking
solutions,” public sector banks are adopting similar systems.
82 | Page
The directive by the Central Vigilance Commission (CVC) to achieve 100 per cent
computerisation has resulted in renewed vigour in these banks towards fulfillment of this
requirement which could go a long way to improve customer service.
All PSBs, except eight, had achieved 100 per cent fully/partially computerisation of their
branches. As at end-March 2005, more than 90 per cent branches of public sector banks were
fully or partially computerised
Out of 27 public sector banks, as many as nine public sector banks had 100 per cent
computerised branches. Nineteen banks had more than 50 per cent computerised branches.
Total number of ATMs installed in the country was 17,642 at end-March 2005. New private
sector banks constituted the largest share of ATMs, followed by the SBI group, nationalised
banks, old private sector banks and foreign banks. While nationalised banks and old private
sector banks had more on-site ATMs than off-site ATMs, SBI group, new private sector
banks and foreign banks had more off-site ATMs than onsite ATMs.
Although cash continues to be used heavily in retail transactions in India, the use of cheques
and several other payment instruments such as credit cards, debit cards and smart cards, on
the whole, has been increasing in recent years. The use of payment cards, both in volume and
value terms, more than doubled in 2004-05. The use of electronic payments in the form of
ECS, EFT and SEFT is also on increase.
83 | Page
(9) BIBLIOGRAPHY:
1. www.rbi.org.in
2. www.moneycontrol.com
3. www.bseindia.com
4. www.nseindia.com
5. www.economywatch.com
6. www.wealthdaily.com
7. www.studymode.com
8. www.thefreepressjournal.in
9. www.thetimesofindia.indiatimes.in
10. www.sureshrathi.com
11. www.motilaloswal.com
12. www.investopedia.com
13. www.wikipedia.com
14. www.indianotes.com
15. Dion Global Solutions Limited database
16.Economic Survey of India database
17. RBI policies and Guidelines Notifications database
18. BMC Library at R ward office books collection
19. www.axisbank.com
20. www.hdfcbank.com
21. www.icicibank.com
22. www.economictimes.imdiatimes.com
23. www.scribd.com
24. www.time4education.com
25. www.livemint.com
26. www.ibef.org
27. https://en.wikipedia.org/wiki/Banking_in_India
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Fundamental Analysis in Banking Sector

MS. NANDHINI NADAR

In partial fulfillment for the award of the degree

Borivali – E, Mumbai - 400066

MS. NANDHINI NADAR

In partial fulfillment for the award of the degree

Borivali – E, Mumbai - 400066

Borivali – E, Mumbai - 400066

Certified that this project report titled “Fundamental Analysis in banking

External Examiner Principal

I, Ms. Nandhini Nadar a bonafide student of B.COM (Financial

Date: Signature of the Candidate

I am equally thankful to my major support for completion of my project PROF.

The topic of this project is “Analysis Of Bank's financial statements”

Because of the following reason, I prefer this project work –

Banking is an essential industry. It is where we often wind up when we seeking a problem in

CHAPTE CONTENT PAGE

1.2 RBI as Central bank Of India

1.3: State Bank of India

1.5 Regional Rural banks

1.7 New Private Sector Banks

1.9 Types Of Banks In India

2 Commercial Banks In India

2.1 Public Sector Banks 7-8

2.2 Private Sector Banks

2.3 Foreign Banks

3.7 Listing & Share Holdings 14

4.3 Role In Indian Financial Infrastructure 29 - 30

4.5 Social Responsibility 32

5.2 Product & Services 47

5.4Listing & Share Holdings 47

5.6 Capital Structure 48

6 Some important Aspects Of banking Sector in

A year of rapid development in banking sector

Is banking sector a good choice for value Investing?

8 Summary of Suggestions & Recommendations for 67 - 70

Description Page No.

Balance Sheet last Five Years 15 - 16

Balance Sheet last Five Years 33 - 34

Balance Sheet last Five Years 49 - 50

Overview of Banking System.

1.2 Reserve Bank of India as a Central Bank of the Country:

1.4 Nationalization of Banks for implementing Government Policies:

6. Central Bank of India

9. Indian Overseas Bank

10. Punjab National Bank

11. Syndicate Bank

12. Union Bank of India

13. United Bank of India

14. United Commercial Bank (now known as UCO bank)

3. New Bank of India

4. Punjab and Sind Bank

5. Oriental Bank of Commerce

The purpose of nationalization was:

(a) to increase the presence of banks across the nation.

(b) to provide banking services to different segments of the Society.

(d) to support priority sector lending and growth.