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This Week’s News Times of India - IDFC Bank offers small retailers zero-balance a/cs - 21/9/2016 IDFC Bank is increasing business from small retailers by opening current accounts without minimum balance requirements. For the complete story see: http://timesofindia.indiatimes.com/business/india-business/IDFC-Bank-offers-small- retailers-zero-balance-a/cs/articleshow/54434325.cms Firstpost - 3 international banks to come up at IFSC in GIFT City - 20/9/2016 Three foreign banks are now in advanced talks for opening their IBUs in the area. For the complete story see: http://www.business-standard.com/article/companies/3-international-banks-to-come- up-at-ifsc-in-gift-city-116091901494_1.html Daily Excelsior - PNB launches Tab Banking - 20/9/2016 PNB Jammu launched Tab Banking facility in J&K for opening accounts for its valued customers. For the complete story see: http://www.dailyexcelsior.com/pnb-launches-tab-banking/ Other Stories ETBrandEquity.com - Punjab National Bank banks on Virat Kohli as its brand ambassador - 19/9/2016 Firstpost - India’s banking outlook stable over next 18 months on slower formation of bad loans - 19/9/2016 Chandigarh Tribune - Dist to get India Post Payments Bank from September 2017 - 19/9/2016 Zee Business - India’s external debt rises by 2.2% to $ 485.6 billion - 19/9/2016 Livemint - It’s a freeway for new private banks in India - 19/9/2016 Business Standard - PNB Gilts shareholders raise borrowing limit to Rs 7,000 crore - 18/9/2016 Economic Times - Bank deposits growth jumps to a 10-year high - 18/9/2016 Equity Bulls - Canara Bank approves appointment of Executive Director - 18/9/2016 Equity Bulls - Kotak Mahindra Bank Ltd approves appointment of Additional Director - 18/9/2016 Daily News & Analysis - Islamic banking is here, thanks to BJP minister Subhash Deshmukh - 18/9/2016 International Business Times, India Edition - State Bank of India to lend more to small and medium enterprises in FY 2017 - 16/9/2016 The Indian Express - Govt to go ahead with merger of SBI subsidiaries, Bharatiya Mahila Bank - 16/9/2016 Media Releases Yes Bank (NSE: YESBANK) - YES BANK continues to be the only Indian bank on the Dow Jones Sustainability Indices for the second year in a row – 20/9/2016 Yes Bank (NSE: YESBANK) - Mr. Rana Kapoor, MD&CEO YES BANK receives GIANTS International Award 2016 in the field of Banking & Finance at 44th Giants Anniversary on Saturday, September 17 – 19/9/2016 Yes Bank (NSE: YESBANK) - YES BANK Partners with Fintech Startup NiYO to Revolutionise Employee Benefits Ecosystem in India – 19/9/2016 IDBI Bank (NSE: IDBI) - Shri Krishna Prasad Nair and Shri Gurudeo Madhukar Yadwadkar appointed as Deputy Managing Directors of IDBI Bank – 17/9/2016 HDFC Bank (NYSE: HDB) - HDFC Bank launches Secure Banking programme in Jabalpur – 15/9/2016 Latest Research Learning in a Disruptive Customer Engagement Platform: An Empirical Analysis in the Banking Industry - By Y Huang, MS Krishnan Overviews of Leading Companies Axis Bank (NSE: AXISBANK) Bank of Baroda (NSE: BANKBARODA) Bank of India (NSE: SBIN) Canara Bank (NSE: CANBK) INDIA BANKING 21 September 2016 Industry SnapShots Up to date business intelligence reports covering developments in the world’s fastest growing industries Follow us on : News and Commentary Media Releases Latest Research The Industry Leading Companies in the Industry Contents N0.: 5902

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This Week’s News• TimesofIndia-IDFCBankofferssmallretailerszero-balancea/cs-21/9/2016 IDFC Bank is increasing business from small retailers by opening current accounts without

minimum balance requirements. For the complete story see: http://timesofindia.indiatimes.com/business/india-business/IDFC-Bank-offers-small-

retailers-zero-balance-a/cs/articleshow/54434325.cms•Firstpost-3internationalbankstocomeupatIFSCinGIFTCity-20/9/2016 ThreeforeignbanksarenowinadvancedtalksforopeningtheirIBUsinthearea. For the complete story see: http://www.business-standard.com/article/companies/3-international-banks-to-come-

up-at-ifsc-in-gift-city-116091901494_1.html•DailyExcelsior-PNBlaunchesTabBanking-20/9/2016 PNBJammulaunchedTabBankingfacilityinJ&Kforopeningaccountsforitsvaluedcustomers. For the complete story see: http://www.dailyexcelsior.com/pnb-launches-tab-banking/

OtherStories•ETBrandEquity.com-PunjabNationalBankbanksonViratKohlias itsbrandambassador-19/9/2016

•Firstpost-India’sbankingoutlookstableovernext18monthsonslowerformationofbadloans-19/9/2016

•ChandigarhTribune-DisttogetIndiaPostPaymentsBankfromSeptember2017-19/9/2016•ZeeBusiness-India’sexternaldebtrisesby2.2%to$485.6billion-19/9/2016•Livemint-It’safreewayfornewprivatebanksinIndia-19/9/2016•BusinessStandard-PNBGiltsshareholdersraiseborrowinglimittoRs7,000crore-18/9/2016•EconomicTimes-Bankdepositsgrowthjumpstoa10-yearhigh-18/9/2016•EquityBulls-CanaraBankapprovesappointmentofExecutiveDirector-18/9/2016•EquityBulls-KotakMahindraBankLtdapprovesappointmentofAdditionalDirector-18/9/2016•DailyNews&Analysis-Islamicbankingishere,thankstoBJPministerSubhashDeshmukh-18/9/2016

• InternationalBusinessTimes, IndiaEdition -StateBankof India to lendmore tosmall andmediumenterprisesinFY2017-16/9/2016

•TheIndianExpress-GovttogoaheadwithmergerofSBIsubsidiaries,BharatiyaMahilaBank-16/9/2016

MediaReleases•YesBank(NSE:YESBANK)-YESBANKcontinues tobe theonly Indianbankon theDowJonesSustainabilityIndicesforthesecondyearinarow–20/9/2016

•Yes Bank (NSE: YESBANK) - Mr. Rana Kapoor, MD&CEO YES BANK receives GIANTSInternationalAward 2016 in the field of Banking & Finance at 44th GiantsAnniversary onSaturday,September17–19/9/2016

•YesBank(NSE:YESBANK)-YESBANKPartnerswithFintechStartupNiYOtoRevolutioniseEmployeeBenefitsEcosysteminIndia–19/9/2016

• IDBIBank (NSE: IDBI) -ShriKrishnaPrasadNairandShriGurudeoMadhukarYadwadkarappointedas

•DeputyManagingDirectorsofIDBIBank–17/9/2016•HDFCBank(NYSE:HDB)-HDFCBanklaunchesSecureBankingprogrammeinJabalpur–15/9/2016

LatestResearch•LearninginaDisruptiveCustomerEngagementPlatform:AnEmpiricalAnalysisintheBankingIndustry-ByYHuang,MSKrishnan

OverviewsofLeadingCompaniesAxisBank(NSE:AXISBANK)BankofBaroda(NSE:BANKBARODA)BankofIndia(NSE:SBIN)CanaraBank(NSE:CANBK)

INDIA BANKING21September2016

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News and Commentary Times of India - IDFC Bank offers small retailers zero-balance a/cs - 21/9/2016 IDFC Bank is increasing business from small retailers by opening current accounts without minimum balance requirements. For the complete story see: http://timesofindia.indiatimes.com/business/india-business/IDFC-Bank-offers-small-retailers-zero-balance-a/cs/articleshow/54434325.cms Firstpost - 3 international banks to come up at IFSC in GIFT City - 20/9/2016 Three foreign banks are now in advanced talks for opening their IBUs in the area. For the complete story see: http://www.business-standard.com/article/companies/3-international-banks-to-come-up-at-ifsc-in-gift-city-116091901494_1.html Daily Excelsior - PNB launches Tab Banking - 20/9/2016 PNB Jammu launched Tab Banking facility in J&K for opening accounts for its valued customers. For the complete story see: http://www.dailyexcelsior.com/pnb-launches-tab-banking/ ETBrandEquity.com - Punjab National Bank banks on Virat Kohli as its brand ambassador - 19/9/2016 With this move, the bank aims to improve its image that has taken a hit thanks to rising bad loans. For the complete story see: http://brandequity.economictimes.indiatimes.com/news/advertising/punjab-national-bank-banks-on-virat-kohli-as-its-brand-ambassador/54397138 Firstpost - India's banking outlook stable over next 18 months on slower formation of bad loans - 19/9/2016 The performance of India's state-owned and private banks continues to diverge. For the complete story see: http://www.firstpost.com/business/indias-banking-outlook-stable-over-next-18-months-on-slower-formation-of-bad-loans-moodys-3010726.html Chandigarh Tribune - Dist to get India Post Payments Bank from September 2017 - 19/9/2016 India Post Payments Bank is going to be set up in the district from next year. For the complete story see: http://www.tribuneindia.com/news/ludhiana/community/dist-to-get-india-post-payments-bank-from-september-2017/297905.html

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Zee Business - India's external debt rises by 2.2% to $ 485.6 billion - 19/9/2016 This rise in external debt was led by increase in long-term debt particularly NRI deposits. For the complete story see: http://www.zeebiz.com/india/news-indias-external-debt-rises-by-22-to-4856-billion-6267 Livemint - It’s a freeway for new private banks in India - 19/9/2016 The new private banks are reaping the benefits. For the complete story see: http://www.livemint.com/Opinion/nieVGskyJKq9jtDXgMzyoN/Its-a-freeway-for-new-private-banks-in-India.html Business Standard - PNB Gilts shareholders raise borrowing limit to Rs 7,000 crore - 18/9/2016 The company is the only listed primary dealer in India and the public share holding in company is 25.93%. For the complete story see: http://www.business-standard.com/article/finance/pnb-gilts-shareholders-raise-borrowing-limit-to-rs-7-000-crore-116091800362_1.html Economic Times - Bank deposits growth jumps to a 10-year high - 18/9/2016 This additional accretion to bank deposits will continue through FY17. For the complete story see: http://economictimes.indiatimes.com/industry/banking/finance/banking/bank-deposits-growth-jumps-to-a-10-year-high/articleshow/54398573.cms Equity Bulls - Canara Bank approves appointment of Executive Director - 18/9/2016 She has taken charge as Executive Director of the Bank w.e.f. September 15, 2016. For the complete story see: http://www.equitybulls.com/admin/news2006/news_det.asp?id=192844 Equity Bulls - Kotak Mahindra Bank Ltd approves appointment of Additional Director - 18/9/2016 The Board of Directors of Kotak Mahindra Bank has approved the appointment of Mr. Uday as an Additional Director. For the complete story see: http://www.equitybulls.com/admin/news2006/news_det.asp?id=192848 Daily News & Analysis - Islamic banking is here, thanks to BJP minister Subhash Deshmukh - 18/9/2016 Under Islamic banking policy, depositors are not paid interest. For the complete story see: http://www.dnaindia.com/india/report-islamic-banking-is-here-thanks-to-bjp-minister-subhash-deshmukh-2256100

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International Business Times, India Edition - State Bank of India to lend more to small and medium enterprises in FY 2017 - 16/9/2016 Lending to SMEs would grow 12 per cent this fiscal as against 4.4 per cent in 2015-16. For the complete story see: http://www.ibtimes.co.in/state-bank-india-lend-more-small-medium-enterprises-fy-2017-693979 The Indian Express - Govt to go ahead with merger of SBI subsidiaries, Bharatiya Mahila Bank - 16/9/2016 Government has recently cleared the proposal to merge SBI with its five associate banks. For the complete story see: http://indianexpress.com/article/business/banking-and-finance/govt-to-go-ahead-with-merger-of-sbi-subsidiaries-bharatiya-mahila-bank-finance-minister-arun-jaitley-3034480/

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Media Releases Yes Bank (NSE: YESBANK) - YES BANK continues to be the only Indian bank on the Dow Jones Sustainability Indices for the second year in a row – 20/9/2016 First and Only Indian bank to be selected as an index component of the Dow Jones Sustainability Indices (DJSI) in the Emerging Market index for two consecutive years YES BANK is the only Indian bank selected from 108 banks from emerging markets that were invited to apply Reinforces the Bank’s position as a global sustainability leader in India Sustainable banking for a sustainable economy Mumbai, September 20, 2016: YES BANK, India’s fifth largest private sector bank, continued to be the First and Only Indian Bank to be selected as an index component of the Dow Jones Sustainability Indices (DJSI) in the Emerging Markets Index. The selection is effective from September 19, 2016 and would be valid for one year. This is the second year in a row where YES BANK has been selected as a part of the DJSI. Rana Kapoor, Managing Director & CEO, YES BANK said, “We are extremely proud to be the first and Only Indian Bank to be selected in the Dow Jones Sustainability Indices, in Emerging Markets Index, two years in a row. It is a testament to YES BANK’s continued emphasis towards creating a sustainable banking ecosystem that serves customers, clients, employees and communities better. As component of this prestigious global Index, we remain committed to evangelizing sustainability and environment management in the entire banking sector.” The Emerging Markets Index for 2016 comprises of 95 companies from 14 emerging economies including China, Brazil, South Africa and Taiwan. 108 banks from emerging economies were invited to participate, of which YES BANK is the only Indian Bank to have been included. This year, the world’s largest 3,400 compa¿nies from developed and emerging markets were invited to take part in its annual Corporate Sustainability Assessment (CSA). To be selected into the DJSI, YES BANK underwent a rigorous assessment on over 600 data points that include; Economic Dimensions such as Corporate Governance, Customer Relationship Management, Financial Stability and Systemic Risk, and Risk & Crisis Management Social Dimensions such as Corporate Citizenship and Philanthropy, Financial Inclusion, Human Capital Development, and Social Reporting Environmental Dimensions such as Climate Strategy, Environmental Policy & Management Systems, and Environmental Reporting Launched in 1999, the Dow Jones Sustainability Indices are the longest-running sustainability benchmarks globally that follow a best-in-class approach to measure the performance of global sustainability leaders. It is a part of the S&P Dow Jones Indices, the world’s largest global resource for index-based concepts, data and research. Together with S&P Dow Jones Indices, RobecoSAM - a global sustainability investment specialist, publishes the globally recognized Indices. These Indices are highly regarded by global investors, financial analysts and other stakeholders as a whole. In line with its Responsible Banking ethos, YES BANK focuses on linking sustainable development with stakeholder value creation and benchmarks itself as a financial institution for inclusivity and sustainability in India. Its consecutive selection into the DJSI is a testimony to its efforts towards Sustainable banking for a Sustainable economy. https://www.yesbank.in/media/press-releases/fy-2016-17/yes-bank-continues-to-be-the-only-indian-bank-on-the-dow-jones-sustainability-indices-for-the-second-year-in-a-row

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Yes Bank (NSE: YESBANK) - Mr. Rana Kapoor, MD&CEO YES BANK receives GIANTS International Award 2016 in the field of Banking & Finance at 44th Giants Anniversary on Saturday, September 17 – 19/9/2016 Mumbai, September 19, 2016: Mr. Rana Kapoor, MD&CEO, YES BANK, India’s 5th largest private sector Bank was awarded the GIANTS International Award 2016 in the field of Banking & Finance at the 44th Giants Anniversary Programme on Saturday, September 17,2016. Mr. Kapoor received the award from Shri Prakash Javadekar, Union Minister for Human Resource Development, Govt. of India, Shri Nana Chudasama, Founder, Giants International and Smt. Shaina NC, Executive World Chairperson, Giants International. The award was bestowed on Mr. Kapoor for his outstanding contribution to Banking and Finance over the last 3 and half decades of his career as an Entrepreneurial Banker and an Industry Thought Leader. The Award was a part of the Giants day celebrations which recognizes achievements in various fields including Medicine, Selfless Service to the Poor, Sports & Games, Excellence in Acting, Art & Culture, Education and Business & Industry among others. Speaking on this recognition, Mr. Rana Kapoor, Managing Director and CEO, YES BANK, said, "It is a great honour to receive this prestigious recognition from the Giants International. I am humbled to have been awarded at such a prestigious platform which has in the past recognized some of India’s most iconic leaders. It is a highly motivating experience and I would like to take this opportunity to reiterate YES BANK’s commitment towards working for India’s Social and Economic Development Agenda." Formally launched in Bombay in 1972, Giants International is an active and service-oriented group of individuals under the leadership of Shri Nana Chudasama, which works towards betterment of society and upliftment of poor and underprivileged, with the ultimate goal of blossoming into a truly International Service Organisation. Giants International, with 625 branches in India, and in some global locations like Australia, Kenya & Mauritius aims to be an organization which works towards bettering world communities. (Giants is an acronym that stands for Generosity, Integrity, Action, Nobility, Truthfulness and Service – which the organization believes are qualities that manifest good citizenship). https://www.yesbank.in/media/press-releases/fy-2016-17/mr-rana-kapoor-md-ceo-yes-bank-receives-giants-international-award-2016-in-the-field-of-banking-and-finance-at-44th-giants-anniversary-on-saturday-sept-17 Yes Bank (NSE: YESBANK) - YES BANK Partners with Fintech Startup NiYO to Revolutionise Employee Benefits Ecosystem in India – 19/9/2016 Mumbai, September 19, 2016: YES BANK, India’s 5th largest private sector Bank has partnered with the Fintech startup NiYO to revolutionise the Employee Benefits ecosystem in India. NiYO features an integrated solution comprising of a Multi-Pocket Card, a Mobile App and a digital account with multiple wallets. Under this partnership, YES BANK along with NiYO has rolled out the “YES BANK NiYO Benefits Card” that makes it easy for organizations to give employee benefits, and for employees to claim the benefits. The solution will leverage the latest in mobile technologies and build on the IndiaStack initiatives including eKYC by UIDAI and Unified Payments Interface (UPI) launched by NPCI. The addressable market is close to 30 million salaried employees in India who are eligible for various employee benefits. NiYO was launched in July 2016 as a pilot in Bangalore and has already clocked over 2000 customers in less than two months. NiYO and YES BANK plan to onboard over 20,000 companies and 5 million customers onto this platform over the next 5 years. YES BANK will become the 1st Bank in this country to offer this unique solution to corporates as an added part of its Smart Salary Product proposition. The YBL NiYO Benefits Card will strengthen YES BANK’s Salary product proposition, which offers best-in-class savings interest of 6% p.a, superior debit and credit card offerings and a state-of-the-art

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Digital Banking ecosystem to over 5 lakh customers currently. YES BANK will be offering this product to its existing Smart Salary customers comprising 2000 companies across India in addition to prospective customers. Through this solution, NiYO and YES BANK will aim to Digitize the entire employee benefits process right from instant on-boarding via e-KYC, offering digital credits on all categories of benefits, capability to attach bill proof through mobile and also allow digital storage of bill and receipts on the cloud. The accompanying mobile app allows employees to review all card transactions as well as check balances in real time. On the back-end the NiYO app seamlessly integrates with existing HR management systems of companies helping them track all benefits and claim reimbursements in a paperless manner. Announcing the partnership, Ritesh Pai, Senior President & Country Head, Digital Banking, YES BANK, said, “We are pleased to partner with NiYO with an aim to offer a superior, innovative Employee Benefits solution to our corporate customers, which leverages the latest technology to digitize the entire employee benefits value chain and bring in efficiencies for Corporates and also make the experience easy for employees.” On the partnership, Vinay Bagri, CEO & Cofounder, NiYO said, “Employee Payroll in India and around the world has traditionally seen very little innovation, we aim to change this scenario and revolutionise the payroll and benefits market with a solution that increases take home salaries while making processes more compliant, transparent & employee friendly. We’re delighted to partner with YES BANK to bring a new-age solution for businesses in India.” About NiYO Founded in 2015 by Vinay Bagri and Virender Bisht, NiYO’s mission to increase cash flow for all salaried individuals by leveraging technology in areas of payroll & benefits. NiYO features an integrated solution comprising of a Multi-Pocket Card, a Mobile App and a digital account with multiple wallets. Vinay has spent more than 18 years working with diverse organisations like Parle, 3M, ICICI Bank, SCB, ING and Kotak Mahindra Bank. He combines deep understanding of distribution and retail banking having spent over a decade in leadership roles across unsecured lending, retail liabilities, corporate salary and retail banking strategy. Virender is a seasoned technology professional with 16 years of experience in creating world-class software products. He has diverse experience in senior technology executive roles in companies like MobiKwik, Makemytrip (MMYT), StudyPlaces.com, Exponential Inc, GE Medical Systems and Tata Consultancy Services. Virender is a hands-on technologist and has a reputation for building scalable solutions for e-commerce and payments domain. https://www.yesbank.in/media/press-releases/fy-2016-17/yes-bank-partners-with-fintech-startup-niyo-to-revolutionise-employee-benefits-ecosystem-in-india IDBI Bank (NSE: IDBI) - Shri Krishna Prasad Nair and Shri Gurudeo Madhukar Yadwadkar appointed as Deputy Managing Directors of IDBI Bank – 17/9/2016 Mumbai,September 17, 2016: Shri Krishna Prasad Nair and Shri Gurudeo Madhukar Yadwadkar, Executive Directors, IDBI Bank Ltd., have been appointed as Whole-Time Directors, designated as Deputy Managing Director, on the Board of Directors of IDBI Bank Ltd. Shri K. P. Nair joined IDBI in 1987 and worked in various departments including Corporate Finance, Retail Banking and Human Resources. He has worked at multiple locations across the country including as Zonal Head in Kolkata and New Delhi. He has led the Bank’s HRD, Training, Administration, Information Technology, MIS, Facilities and Infrastructure Management Groups. Presently, he was handling the Retail Banking, Alternate Channels and Government Business portfolios of the Bank.

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Shri G. M. Yadwadkar joined IDBI in 1987 and worked in various departments including Corporate Finance, Priority Sector Lending and Transaction Banking Group. He has worked at various locations and led the Bank’s Large Corporate, Mid-Corporate and Priority Sector Groups. Presently, he was handling the Large Corporate Group and Strategic & Associates Investment portfolio of the Bank. http://www.idbi.com/press/PR-1316.html HDFC Bank (NYSE: HDB) - HDFC Bank launches Secure Banking programme in Jabalpur – 15/9/2016 To roll out the programme across branches in Madhya Pradesh Jabalpur (Madhya Pradesh), September 15, 2016: HDFC Bank Ltd., today launched its Secure Banking programme at Jabalpur in Madhya Pradesh. The initiative is part of HDFC Bank’s ongoing endeavour to create customer awareness about safe banking practices. The programme will be rolled out across 16 branches in and around Jabalpur to educate customers and create awareness among general public. At a function organized in the city, the initiative was launched by Mr. Suresh Kumar Parwani, customer of HDFC Bank; and Mr. Ashish Talreja, Cluster Head - Jabalpur, HDFC Bank, in the presence of other senior HDFC Bank officials. The 'Secure Banking' initiative comprises a series of workshops, which educate customers through presentations, on matters they need to be careful about, while conducting banking transactions. This includes using netbanking, mobile apps, transacting at ATMs; using debit or credit cards at POS terminals, merchant outlets, and online banking. These workshops are also open to the general public. Both customers and noncustomers are welcome to attend the series of workshops, which will be conducted at various branches across India on a regular basis. In addition to the branches, various other channels like ATM screens, mobile banking app, and the HDFC Bank website will be used to spread awareness about Secure Banking. Key takeaways from the Secure Banking Workshop · Do not share PIN or passwords with anyone. · Keep your bank informed whenever you change your address, contact number or email ID. · Keep all ID address proofs and personal credentials in a secure place. ·Always save your regional phone banking number on your contacts list, which will help in case of emergencies where your card is lost or stolen or you get an unexpected transaction alert. In (State) you can call (local Phone Banking Number) to reach HDFC Bank’s Phone Banking. ·If you lose your credit or debit card, inform your bank immediately via Phonebanking ·If you find your mobile number inactive or are unable to make any calls, please contact your telecom service provider immediately to understand the reason. ·Never ignore alerts and statements sent from your banks ·Do not sign on blank cheques and hand them over to anyone claiming to be from the bank or any other organization. Always fill in the date, the name of the receiver and the amount before signing the cheque · Never take help from strangers at ATM or Branch cash counter for counting the notes · Download Mobile Banking apps from official app stores only · Do not conduct banking transactions from your mobile, tablet, laptop, when it is connected to public Wi-Fi, which is open and therefore unsecured

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Latest Research Learning in a Disruptive Customer Engagement Platform: An Empirical Analysis in the Banking Industry Y Huang, MS Krishnan Abstract The shift in enterprise applications to disruptive mobile platforms calls for research to better understand the mechanisms and factors behind success in these new platforms. In this paper, we empirically study the learning dynamics of sales officers and factors associated with business value, measured as accountopening efficiency in a tablet-based banking application at a large private bank in an emerging market. Our model allows us to study individual learning patterns, and our results show that although high performers in the traditional systems continue to maintain their edge in the new mobile platform, the gap between high and low performers is reduced significantly over time. Our results also reveal that customers’ awareness of the tablet banking service, their digital literacy, and external environmental factors such as mobile infrastructure and market maturity can affect sales officers’ account-opening performance in the tabletbased system. https://deepblue.lib.umich.edu/bitstream/handle/2027.42/133524/1331_Huang.pdf?sequence=1&isAllowed=y

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The Industry RBI releases the Monthly Bulletin for September 2016 The Reserve Bank of India today released the September 2016 issue of its monthly Bulletin. The Bulletin includes Speeches by the Top Management, four Articles and Current Statistics. The four Articles are: I. Position of Order Books, Inventories and Capacity Utilisation for the Quarters April 2015 to March 2016; II. Consumer Confidence Survey - Q2:2015-16 to Q1: 2016-17; III. Private Corporate Investment: Growth in 2015-16 and Prospects for 2016-17; and IV. Monthly Seasonal Factors of Select Economic Time Series, 2015-16. I. Position of Order Books, Inventories and Capacity Utilisation for the Quarters April 2015 to March 2016 The Reserve Bank of India conducts Order Books, Inventories and Capacity Utilisation Survey (OBICUS) on a quarterly basis among manufacturing sector companies in India. This article analyses the movement in the order books, inventories and capacity utilisation of select companies during 2015-16. Salient Findings are:

• The year-on-year growth in average new orders of sample companies was marginally positive till Q3 but it contracted in Q4.

• There was no significant accumulation to the inventory levels of sample companies during 2015-16. • Level of capacity utilisation (CU) in the Indian manufacturing industry continued to be in the lower trajectory in

2015-16. It, however, recorded a seasonal pick-up in Q4 and stood at 74.1 per cent, similar to the level recorded in the corresponding period of last year.

II. Consumer Confidence Survey - Q2:2015-16 to Q1:2016-17 The Consumer Confidence Survey (CCS), which captures information on economic conditions, prices, employment and also income and spending behaviour of the respondents, is conducted on a quarterly basis in six metropolitan cities, namely, Bengaluru, Chennai, Hyderabad, Kolkata, Mumbai and New Delhi covering around 5,400 households. The responses are obtained for two reference points, namely, current situation as compared with a year ago and expectations for a year ahead. The survey results of each quarter are released on the RBI website. This article analyses trends over a longer time period with particular focus on the latest four quarterly rounds (Q2:2015-16 to Q1:2016-17) of the survey. The main findings of the analysis are:

• Sentiments on economic conditions improved in the second half of 2015-16 along with those on income and employment.

• In case of spending, the positive sentiment declined in the second half of 2015-16 but improved in Q1:2016-17. Responses on higher spending were closely associated with those on higher inflation.

• Sentiment for price level for the current period improved since second half of 2014-15. However, future expectations did not reflect higher optimism.

• The levels of optimism in future economic conditions, income and employment scenario, as in the past, were consistently higher than those relating to current situation.

• Combination of these factors indicate both, the current situation index and future expectation index after attaining a high in Q4:2014-15 declined during the first half of 2015-16 but showed signs of improvement thereafter.

III. Private Corporate Investment: Growth and Prospects Project financed by select banks / Financial Institutions (FIs) in 2015-16 signalled marginal improvement in investment sentiment in comparison with 2014-15, as revealed in an annual study undertaken by the Reserve Bank of India. The estimate of capital investment likely to be incurred during the current financial year is based on time phasing details of

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the investment intentions of the companies in the private and joint sectors, which have raised funds from banks/FIs, through External Commercial Borrowings (ECBs) / Foreign Currency Convertible Bonds (FCCBs) or Initial Public Offerings (IPOs). Taking into consideration the phasing out plans, the estimated capital expenditure was ₹1,512 billion in 2015-16; 24.7 per cent lower than the revised estimate of 2014-15.The CapEx planned for 2016-17 amounted to ₹674 billion. In order to maintain the level of CapEx envisaged in 2015-16, a CapEx of ₹838 billion would have to come from new investment intentions of the private corporate sector in 2016-17. The main results of the study are furnished below:

• In 2015-16, total cost of projects receiving finance through banks/FIs, ECBs/FCCBs or IPOs aggregated to ₹1,387 billion as against ₹1,456 billion in 2014-15. It covers 352 projects with aggregate project cost of ₹954 billion receiving sanction for financial assistance from banks/FIs, 314 projects with total costs of ₹388 billion contracting ECBs/FCCBs and 40 projects raising resources through equity issues of ₹45 billion.

• An analysis of the industrial pattern of projects reveals that investment plans in 2015-16 were led by ‘Power’ sector. However, sectors such as ‘Roads, Bridges & Waterways’, ‘Ports & Airports’ and ‘Mining & Quarrying’ recorded a rise in 2015-16, while other major industries such as ‘Metals’, ‘Cement’, ‘Construction’ and ‘Hotel’ industries contributed less compared with the previous years. Infrastructure projects witnessed an upsurge during 2015-16. Share of institutionally assisted projects in service sector was low, however, major share of ECBs/FCCBs supported projects was in ‘Telecommunication’. However, the number of high value projects decreased.

• Majority of the projects receiving financial sanction by Banks/FIs during the five year period (2011-12 to 2015-16) were taken up in the states of Maharashtra, Odisha, Gujarat, Andhra Pradesh and Karnataka.

• Envisaged CapEx by the private and joint business sectors financed through banks/FIs, ECBs/FCCBs or IPOs during 2010-11 was at ₹3,706 billion, which went down to ₹1,512 billion during 2015-16 after successive contractions. Improvements in FDI and private placement of debt for the last few years have sustained the financing of the CapEx. Steps taken to revive stalled projects, enhanced Government spending, steps to fillip FDI inflows and major spectrum auction planned by the Government may improve the prospect for private investment in 2016-17.

IV. Monthly Seasonal Factors of Select Economic Time Series, 2015-16 The article presents estimated monthly seasonal factors of selected 84 major macroeconomic series, broadly covering five major sectors, namely, Monetary and Banking Indicators (17 series), Prices (29 series), Industrial Production (29 series), External Sector (3 series) and Service Sector Indicators (6 series) for the period 2006-07 to 2015-16. The seasonal factors have been estimated using X-13ARIMA-SEATS software package, developed by the US Bureau of Census, taking care of Diwali as major festival as well as trading day effects. Salient findings are as under:

• Seasonal Peaks and Troughs: For a majority of industrial production and monetary/banking indicators, seasonal peaks were found in March and troughs in February/April. Services sector indicators also peaked in March but had their seasonal troughs in September. These suggested the need for seasonal adjustment in these series before analysing short-term changes for policy input or policy evaluation.

• Indicators with High and Low Seasonality: Among IIP sub-groups, seasonal variation was found to be higher for ‘food products and beverages’ and ‘coal production’ due to production cycle and demand characteristics. For WPI, seasonal variation was found high for ‘food articles’ due to high seasonality of eggs, fruits and vegetables items, resulting from climatic conditions. ‘Sale of commercial motor vehicles’ exhibited high seasonality due to annual festivals and other seasonal demand factors.

• Changing Seasonality: With more activities moving to organised sector, seasonal fluctuations of monetary and banking series witnessed gradual moderation during the last 10 years. Few IIP groups (viz., ‘consumer goods’, ‘electricity’ ‘rubber and plastics products’, and ‘petroleum refinery production’), however, witnessed some increase in seasonality over the years. Also, the seasonal peak/trough months for some of the indicators shifted during 2015-16 when compared with the average seasonal peak/trough months of the last five years.

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As such, there is a need for undertaking such an exercise on a regular basis for more precise analysis of momentum in these indicators.

https://www.rbi.org.in/scripts/BS_PressReleaseDisplay.aspx?prid=38024

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Leading Companies

Axis Bank (NSE: AXISBANK) Axis Bank Announces Financial Results for the Quarter and Nine Month Ended 31st December 2015 Results at a Glance · Net Profit for Q3FY16 grew 15% YOY to `2,175 crores and for 9MFY16 grew 17% YOY to `6,069 crores · The Bank’s Retail franchise registered strong performance

o CASA, for Q3FY16, grew 17% YOY and constitutes 43% of Total Deposits o Savings Account balances grew at 16% YOY o Retail Advances growth continues to be strong at 27% YOY o Retail Advances now account for 40% of Net Advances of the Bank o Retail Fee Income in Q3FY16 grew 14% YOY and constitutes 40% of Total Fee Income

· The Bank’s GNPA and Net NPA levels were 1.68% and 0.75% respectively in Q3FY16 as against 1.38% and 0.48% respectively, in the previous quarter. · In Q3FY16, the Bank has taken into account the full impact of the asset quality review conducted by RBI · Net Advances grew 21%, led by Retail growing at 27% followed by Corporate Advances growing at 21% · The Bank is well capitalised with a healthy Capital Adequacy Ratio (CAR). Under Basel III, Total CAR & Tier I CAR (including the net profit for 9MFY16) stood at 15.47% and 12.35% respectively. The Board of Directors of Axis Bank Limited approved the financial results for the quarter and nine months ended 31st December 2015 at its meeting held in Mumbai on Wednesday, 20th January 2016. The results have been subjected to a Limited Review by the Bank’s Statutory Auditors. Profit & Loss Account: Period ended 31st December 2015 · Core Operating Profit and Net Profit Earnings quality remained strong with the Bank showing a healthy financial performance in terms of growth in core revenues for the quarter and nine months ended 31st December 2015. The Bank’s Core Operating Profit for Q3FY16 grew by a robust 20% YOY to `3,571 crores, and for 9MFY16 grew by 24% YOY to `10,477 crores. The Net Profit for Q3FY16 and 9MFY16 grew by 15% YOY and 17% YOY to `2,175 crores and `6,069 crores respectively. · Net Interest Income and Net Interest Margin The Bank’s Net Interest Income (NII) grew by 16% YOY to `4,162 crores during Q3FY16 from `3,590 crores in Q3FY15. Net interest margin for Q3FY16 remained healthy and stood at 3.79%. NII for 9MFY16 also rose 18% YOY to `12,280 crores from `10,425 crores during 9MFY15. · Other Income Other income (comprising fee, trading profit and miscellaneous income) for Q3FY16 grew 15% YOY and stood at `2,338 crores as against `2,039 crores during the same period last year. During 9MFY16, other income grew 18% YOY and stood at `6,677 crores. During the quarter, fee income grew 12% YOY to reach `1,885 crores. The key driver to

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the growth in fee income was Retail Banking, which grew by 14% YOY and constituted 40% of the Bank’s total fee income. Transaction Banking fees grew 9% YOY and constituted 20% of the total fee income. Treasury & DCM fee performance was robust and grew 15% YOY to constitute 10% of the total fee income of the Bank. During 9MFY16, fee income grew 13% YOY primarily driven by 17% YOY growth in retail fee and 37% YOY growth in Treasury & DCM. Balance Sheet: As on 31st December 2015 The Bank’s Balance Sheet grew 18% YOY and stood at `4,96,391 crores as on 31st December 2015. The Bank’s Advances grew 21% YOY to `3,15,367 crores as on 31st December 2015. Retail Advances grew 27% YOY and stood at `1,25,796 crores and accounted for 40% of the Net Advances of the Bank. If we were to include SME loans that qualify as regulatory retail, the share of retail loans to total loans would be 45%. Corporate credit grew 21% YOY and stood at ̀ 1,48,385 crores; and accounted for 47% of Net Advances. SME Advances grew 7% YOY and stood at ̀ 41,186 crores. The book value of the Bank’s investments portfolio as on 31st December 2015, was `1,15,445 crores, of which `83,711 crores were in government securities, while `23,997 crores were invested in corporate bonds and `7,737 crores in other securities such as equities, preference shares, mutual funds, etc. CASA Deposits as on 31st December 2015 constituted 43% of total deposits. Savings Account balances grew at a strong 16% YOY, up sharply from the 12% YOY growth we had last quarter. CASA, on a daily average basis, recorded a growth of 14%, in which Savings Bank Deposits recorded a growth of 13% YOY, while Current Account deposits grew by 15%. The proportion of CASA on a daily average basis remained at the same level as the previous quarter and constituted 40% of total deposits. CASA and Retail Term Deposits constituted 79% of Total Deposits as on 31st December 2015 compared to 78% as on 31st December 2014. Capital Adequacy and Shareholders’ Funds The shareholders’ funds of the Bank grew 17% YOY and stood at `51,047 crores as on 31st December 2015. The Bank is well capitalised. Under Basel III, the Capital Adequacy Ratio (CAR) and Tier I CAR as on 31st December 2015 (including the net profit for 9MFY16) was 15.47% and 12.35% respectively. Asset Quality As a prudent measure, the Bank has fully recognized the necessary impairment and the resultant provisioning impact of the asset reclassification as per RBI’s assessment in the current quarter itself. Consequently, as on 31st December 2015, the Bank’s GNPA and Net NPA levels were 1.68% and 0.75% respectively, as against 1.38% and 0.48% respectively as on 30th September 2015. As on 31st December 2015, the Bank’s provision coverage, as a proportion of Gross NPAs including prudential write-offs, was 72%. The provision coverage before accumulated write-offs was 82%. As on 31st December 2015, the Bank’s Gross NPA was `5,724 crores against `4,451 crores as on 30th September 2015. During the quarter, the Bank added `2,082 crores to Gross NPAs, and Recoveries and upgrades were `156 crores. There were no sales to ARCs during the quarter. The cumulative value of net restructured advances as on 31st December 2015 stood at `7,745 crores, constituting 2.31% of net customer assets, compared to `8,426 crores, constituting 2.65% of net customer assets as on 30th September 2015. Network During Q3FY16, the Bank added 62 branches to its network across the country, pushing up the tally to 216 new branches in 9MFY16. As on 31st December 2015, the Bank had a network of 2,805 domestic branches and extension

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counters situated in 1,796 centres compared to 2,558 domestic branches and extension counters situated in 1,708 centres last year. As on 31st December 2015, the Bank had 12,631 ATMs spread across the country. International Business The Bank has nine international offices with branches at Singapore, Hong Kong, Dubai (at the DIFC), Colombo and Shanghai; representative offices at Dubai, Abu Dhabi, Dhaka and an overseas subsidiary at London, UK. The international offices focus on corporate lending, trade finance, syndication and investment banking and liability businesses. The total assets under overseas branches were USD 8.06 billion as on 31st December 2015. Appointment of Additional Independent Director Ms. Ketaki Bhagwati has joined the Board of Directors as an Additional Independent Director with effect from 19th January 2016. Ms. Bhagwati is a former Chief Investment Officer in the Financial Institutions Group at the International Finance Corporation (IFC). She has over twenty four years of experience in private equity, M&A, debt & structured finance and distressed asset workouts. Ms. Bhagwati has a Bachelors of Arts from Wellesley College (USA) and a Master of Public Administration from Harvard University's John F. Kennedy School of Government. She is currently a member of the Wellesley College Business Leadership Council and Golden Seeds, an early stage investment firm with a focus on women leaders. Appointment of Additional Non-Executive Director Mr. B. Babu Rao has joined the Board of Directors as an Additional Non-Executive Director (Nominee of SUUTI) with effect from 19th January 2016. Mr. Rao has more than 26 years of experience in the area of Finance, Capital Markets and Fund Management in UTI Mutual Fund. Mr. B. Babu Rao is an MBA from Indian Institute of Management, Ahmedabad. Mr. Rao is currently managing the activities of the Specified Undertaking of UTI (SUUTI) on deputation from UTI Asset Management Company Ltd. http://www.axisbank.com/download/Axis-bank-Announces-Financial-Results-Quarter-Nine-Months-Ended-31-12-15.pdf Bank of Baroda (NSE: BANKBARODA) Bank announces Financial Results for Q1 / Three Months ended 30th June, 2016, FY 2016 – 17 Highlights (Standalone Basis) · Operating profit of INR 2,669 crore, the highest in the last 5 quarters. · Profit after Tax of INR 424 crore moving from a loss position in the previous two quarters. · Total Business of INR 9,24,940 crore as at June 30, 2016 was lower from INR 10,01,475 crore as at June 30, 2015 and INR 9,57,808 crore as at March 31, 2016 on account of planned and structured rundown of low yielding assets and high cost liabilities. · Improved deposit mix leading to reduction in the cost of domestic deposits from 6.93% as at June 30, 2015 and 6.61% as at March 31, 2016 to 6.21% as at June 30, 2016. · Domestic CASA grew on an average by 12.79% (on y-o-y basis) and 9.40% (on q-o-q basis) driven by Savings bank deposit growth of 14.08% and 9.85% (on y-o-y and q-o-q basis respectively).

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· Domestic CASA on average basis stood at 33.00% as compared to 29.09% as at June 30, 2015 and 29.43% as at March 31, 2016. On terminal basis, Domestic CASA stood at 33.83%. · Conscious rundown of certain unprofitable assets in the International business, leading to improvement in Net Interest Margin from 0.92% to 0.98% on y-o-y and q-o-q basis. · Gross NPA at 11.15% & Net NPA stood at 5.73%. · Provision Coverage Ratio stood at 60.17%. · CRAR (Basel III) stood at 13.07% and CET 1 stood at 10.19%. BUSINESS The Bank’s Total Business stood at INR 9,24,940 crore as at June 30, 2016 down from INR 10,01,475 crore as at June 30, 2015 on account of planned and structured rundown of assets and liabilities. Total Deposits stood at INR 5,62,174 crore as at June 30, 2016 as against INR 5,93,087 crore as at June 30, 2015. Corresponding figures for Average Deposits (based on daily averages) were INR 5,57,817 crore and INR 5,75,856 crore. The Bank has rundown high cost liabilities to improve the deposit mix leading to reduction in cost of domestic deposits from 6.61% as at March 31, 2016 to 6.21% as at June 30, 2016 and also improvement in ratio of domestic CASA deposits on average basis at 33.00% as compared to an average of 29.09% as at June 30, 2015 and 29.43% as at March 31, 2016. On a terminal basis, Domestic CASA was at 33.83%. Domestic Savings bank deposit saw a robust growth of 14.08% y-o-y on an average basis. Total Advances (Net) were INR 3,62,766 crore as at June 30, 2016 against INR 4,08,388 crore as at June 30, 2015. Average Advances (Gross - based on daily averages) were INR 3,96,123 crore and INR 4,05,533 crore respectively. The Bank has undertaken a conscious rundown of certain unprofitable assets resulting in improvement in yield on advances as well as Net Interest Margin. The Bank’s International Business continues to occupy a significant position. As at June 30, 2016, the International Operations contributed 30.37% to the Bank’s Total Business. As a part of rebalancing of the International book, a portion of low yielding assets have been substituted with higher yielding local credit. INCOME The Bank’s Total Income stood at INR 11,878 crore in Q1 FY17. Net Interest Income stood at INR 3,372 crore. Other Income increased by 49.33% (y-o-y basis) to INR 1,444 crore, driven by improved trading gains. EXPENSES The Bank’s Total Expenses declined by 8.30 % (y-o-y basis) to INR 9,208 crore in Q1 FY 17 driven primarily by reduction in cost of deposits. The interest expenses reduced by 9.66% (y-o-y basis) from INR 7,817 crore as at June 30, 2015 to INR 7,062 crore as at June 30, 2016. Operating expenses were contained with a reduction of 3.55% during the corresponding period. PROFIT Prudent management of assets and liabilities as detailed above has led to improvement in profitability. The Bank’s Operating Profit was INR 2,669 crore in Q1 FY17 (as against INR 2,202 crore in Q1 FY 16), which is the highest in the last five quarters. The Bank returned to profitability and posted a Net Profit of INR 424 crore for Q1 FY 17.

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NET INTEREST MARGIN The Net Interest Margin (NIM) for Domestic operations has improved from 2.70% to 2.80% sequentially while the NIM for International operations has improved from 0.92% to 0.98%. ASSET QUALITY Gross NPA (GNPA) of the Bank stood at INR 42,991 crore as on June 30, 2016 as compared to INR 40,521 crore as at March 31, 2016. The Gross NPA ratio stood at 11.15% as compared to 4.13% as at June 30, 2015 and 9.99% as at March 31, 2016. The corresponding figures of the Net NPA ratio stood at 5.73%, 2.07% and 5.06% respectively. The ratios have increased partly on account of the conscious reduction in the asset base during the year. Total Restructured Standard Assets of the Bank were INR 14,164 crore as on June 30, 2016. The total Stressed Assets (GNPA + Restructured Standard Assets) were 14.83% of the Gross Advances. PROVISIONS AND CONTINGENCIES Provisions and Contingencies (excluding tax provisions) made by the Bank stood at INR 2,004 crore in Q1 FY17. Provisions against NPAs/ Bad Debts written off stood at INR 1,986 crore in Q1 FY17. The Provision Coverage Ratio (PCR) was 60.17% as at June 30, 2016. Provision for tax was INR 242 crore. CAPITAL ADEQUACY The CRAR on standalone basis (Basel III) is 13.07% as at June 30, 2016. Out of this, the Tier 1 capital was 10.70% and CET 1 Capital was 10.19%. TRANSFORMATION OF THE BANK The Bank has launched Project Navoday - a comprehensive transformation spanning business strategy, products and services, processes, digitization and capability enhancement of our people, delivering a differentiated world-class experience to our customers. The transformation will enable the Bank to realize improved market share, quality growth of balance sheet, diversified portfolio, enhanced fee income, strengthened internal controls and compliance, enabled by cutting-edge digital technology. While this transformation exercise will be completed over a period of 18 months, the early benefits should start flowing from Q4 FY 17. http://www.bankofbaroda.com/download/PressRelease30june.pdf Bank of India (NSE: SBIN) Bank of India announces working results For the Quarter and Year ended 31st March 2016 A Year of Balance Sheet Consolidation and Capital Optimisation v The Year 2015-16 has been one of Balance Sheet Consolidation, Capital optimization and reduction in concentration risk. v The Total Capital of the Bank was augmented by Rs.7,163 Crores including Capital infusion by Government of India (Rs.3605 Crores), subscription by LIC (Rs.418 Crores) & GIC of India (Rs.40 Crores) on preferential issue basis as also Tier II Capital of Rs.3000 Crores from private Institutions.

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v The Bank’s CET-I Capital was further augmented by RBI relaxations on Revaluation Reserve, Foreign Currency Translation Reserve and DTA measures. v As a conscious step towards Balance Sheet consolidation, the Total assets were reduced by Rs.8,784 Crores from Rs.618,698 Crores in Mar’15 to Rs.609,914 Crores as of Mar’16. Similarly in order to conserve the Capital, the Risk Weighted assets (RWA) were brought down by Rs.19,769 Crores from Rs.363,523 Crores in Mar’15 to Rs.343,754 Crores in Mar’16, indicating the efficiency of Capital conservation measures. v As a result, the capital adequacy of the Bank in terms of CET1, Tier I and CRAR as per BASEL III guidelines stood at a comfortable level of 7.97%, 9.03% and 12.01% respectively as of 31.03.2016. v CASA ratio (domestic) improved from 29.48% in March 2015 to 34.18% as on 31st March, 2016. This was achieved through handsome CASA growth of 12% and shedding Bulk Deposits to Rs.58,980 Crores in 31st March, 2016. v The share of Retail Time Deposits Of Rs ONE crore and less has grown by 12% YoY and constitutes 71% of Bank’s total time deposits as on Mar’16 as against 58% as at Mar’15. v Total Business of the Bank stood at Rs.894,667 Crores as of 31st March 2016, as compared to Rs.943,634 Crores as of 31st March 2015, showing a y-o-y fall of 5.19%. v While deposits have decreased by 3.55% (y-o-y) to Rs.513,005 Crores, Gross Advances stood at Rs.381,662 Crores with a negative growth of 7.30%. v Overseas business recorded a negative growth of 2.87% and stood at 28% of total business of the Bank. v Gross NPAs of the Bank increased from Rs.36,519 Crores in Q3 to Rs.49,879 Crores in Q4 FY’16 sequentially. Net NPAs moved up from Rs.19,979 Crores to Rs.27,996 Crores, during the same period. v The ratio of Gross NPAs moved up from 9.18% in Q3 to 13.07% in Q4-FY’16, whereas the net NPA Ratio moved up from 5.25% to 7.79% on sequential quarter basis. v The provision coverage ratio stood at 51.14% as of 31st March, 2016. v Total Standard Restructured advances stood at Rs.12,872 Crores in March 2016 against Rs.21,828 Crores in March 2015 and Rs.17,270 Crores in December 2015. v Total Stressed Assets (NPA + Restructured Standard Advances), as per RBI norms stood at Rs. 57,586 crores accounting for 15% of Global advances. v The effective reduction in NPAs by way of Cash Recovery and Up-gradation improved from Rs.3,483 Crores in FY’15 to Rs.10,787 Crores in FY’16. Profits & Profitability for Quarter ended March 2016: v Net Interest Income for Q4-FY’16 increased by 12%from Rs.2,846 Crores in Q4 FY’15 to Rs.3,187 Crores in Q4 FY’16. v The NIM for Overseas operations has improved to 1.24% during Q4, FY’16 as compared to 1.15% during Q4 FY’15. v Operating Profit for Q4-FY’16 stood at Rs.1,464 Crores compared to Rs.1,427 Crores of Q4-FY’15, a YoY rise of 2.6%.

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v The Bank has posted net loss for the March 2016 quarter Rs.3,587 Crores as compared to a net loss of Rs.56 Crores for Q4-FY’15. v Total provisions (other than taxes) increased from Rs.2,256 Crores in Mar’15 quarter to Rs.5,470 Crores in Mar’16 quarter, on YoY basis. v Net Interest Margin (Domestic) stood at 2.43% for the quarter Q4-FY’16, as against 2.23% for December 2015 quarter and 2.27% for Q4 FY’15. v Bank has recorded a combined recovery and up gradation of Rs.3,043 Crores during the quarter ended 31St March, 2016. Profits & Profitability for FY 2016: v Net Interest Income for FY’16 stood at Rs. 11,725 Crores compared to Rs .11,344 Crores of FY’15, a rise of 3.35% YoY. v Operating Profit for FY’16 stood at Rs.6,036 Crores compared to Rs.7,488Crores of FY’15. v The Bank has posted net loss for the year March 2016 of Rs.6,089 Crores as compared to a net profit of Rs.1,709 Crores for FY’15. This includes deferred provisions of previous year to the tune of Rs.1482.44 Crores. Therefore the net loss pertaining to FY’16 is Rs.4,606 Crores. v Total provisions (other than taxes) increased from Rs.5,693 Crores to Rs.13,827 Crores, on YoY basis. This also includes deferred provisions of previous year to the tune of Rs.1482.44 Crores as also provision of Rs 1412 crores on account of adopting the new LIC mortality table. v Net Interest Margin (Domestic) stood at 2.50% for the FY’16. v Bank has recorded a combined recovery and up gradation of Rs.8,547 Crores during FY March, 2016. Other Developments: · Bank’s Domestic network increased to 5016 Branches, 7807 ATMs and 37 Extension Counters, with increase of 124 Branches and 1036 ATMs over 31.03.2015. · Debit Cards base increased to 352.72 Lakhs as of Mar’16 from 273.79 Lakhs as of Mar’15. · Internet Banking users (Retail) increased to 33.81Lakhs from 29.85 Lakhs as of Mar’15. · e-Galleries increased to 486 in Mar’16 from 412 in Mar’15. · Bank canvassed 392.78 kg of GOI Gold Sovereign Bonds for all Tranches. Growth in Key Sectors: · Retail Credit stood at Rs. 37,777 Crores as of Mar’16, registered a y-o-y growth of 10.61%.Home loans & Loans Against property have registered a growth of 19% YoY. · The share of Retail Loan portfolio has grown from 44% in Mar’15 to 49% in Mar’16. Correspondingly Corporate Loan portfolio reduced to 51%in Mar’16.

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· MSME Credit stood at Rs.49,190 Crores as of Mar’16, registered a y-o-y growth of 0.11%. · Agriculture Credit stood at Rs.45,080 Crores as of Mar’16, registered a y-o-y growth of 4.21%. · Retail and Agriculture portfolio have registered good growth and constitute about 14 and 17 % respectively of domestic Loan portfolio. · Priority Sector Lending at Rs. 104,656 crores is 35.78% of ANBC, as of Mar’16. Implementation of Social Security Schemes: PMJDY (Pradhan Mantri Jan Dhan Yojana): · Survey of 112.67 lakh households in allotted SSAs & Wards across the country in the initial stage. · Opening of 113.50 lakh accounts after launch of PMJDY. · Balance accrual of Rs 1044.89 Crores in PMJDY accounts · Issuance of Rupay Card in 104.48 lakh accounts · Aadhaar linking in 58.23 lakh accounts under PMJDY and thus enabling them for Direct Benefit Transfer (DBT) facility. Implementation of Social security & pension Schemes: · Total enrollment of 46.82 lakh customers under two social security schemes, namely Pradhan Mantri Suraksha Bima Yojana (PMSBY) & Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) · Enrollment of 0.95 lakh customers under Atal pension Yojana (APY). PMMY (Pradhan Mantri MUDRA Yojana): Ø Under MUDRA Yojana, our Bank launched MUDRA Card on 22nd August 2015. It is a Rupay Debit cum ATM card. During the FY 15-16 bank sanctioned Rs 3126 crore in 376486 accounts under MUDRA and issued 17998 MUDRA cards. Awards: Ø Bank of India ranked 23rd amongst all the brands and 2nd next to SBI amongst Banks under IPSOS survey, India’s most influential Brands 2015. Ø Bank has been rated by Economic Times as the “Second Most Trusted Brand” in India among the PSU banks in 2015. Ø Bank received “Best MSME Banking Excellence Award” for “Best Performance in Micro Units Development and Refinance Agency (MUDRA) Loan” under Large Bank category from Hon’ble Union Minister, Shri Piyush Goyal. Ø Bank received “Best Bank” award for “use of Technology for Financial Inclusion among Large Banks” for FY 2014-15 from IDRBT at the hands of Governor, RBI.

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Ø Bank received “PMJDY Excellence Award” from Honorable Union Minister Ø Financial Inclusion & Payment System Award by Elets Technomedia at New Delhi at the hands of Minister of Rural Development. Ø Bank received IBA Award for “Best Financial Inclusion Technology Initiative” from IDRBT. http://www.bankofindia.co.in/pdf/PRESS-RELEASE-MAR16-FINAL.pdf Canara Bank (NSE: CANBK) Press Release Financial Results June Major Highlights è Net profit for Q1FY17 stood at 229 crore, sequentially up from a net loss of 3905 crore in March 2016 quarter. è Gross profit stood at 1819 crore, sequentially up from 1647 crore in March 2016 quarter. è Total expenditure declined by 2.75% y.o.y. è Interest expenses, including interest paid on deposits reduced by 8.45%. è Cost of deposits came down to 6.45% from 7.12% last year. è CASA Deposits at 1.28 lakh crore, up by 16.95% y.o.y. è CASA share (domestic) improved to 29.27% from 24.62% last year. è Non-Interest Income grew by 42.38% to 1585 crore. è Share of non-interest income in total income improved to 13.45%, up from 9.08% a year ago. è Net Interest Margin (NIM) (Domestic) at 2.29% and NIM (Global) at 2.15%. è Capital adequacy ratio improved to 12.11%, up from 10.75% a year ago. è Global Business reached 7.86 lakh crore comprising global Deposits of 4.65 lakh crore and net advances of 3.21 lakhcrore. è Gross NPA Ratio marginally up at 9.71% from 9.40% in March 2016. è Net NPA ratio at 6.69% from 6.42% in March 2016. è Cash Recovery during the quarter at 918 crore. è Provision Coverage ratio at 50.82%, up from 50.11% in March 2016. è Sustained growth in retail assets (y.o.y)- Agriculture (14%), MSME (8.53%), Retail Lending (33.77%), Direct Housing (22.79%), Vehicle (16.47%), Education (18.61%) and Other Personal loans (13.56%). è Total number of branches at 5855 and Number of ATMs at 9657. è 39.36 lakhs Mobile Banking and 25.01 lakhs Net Banking users. è Enhanced E-transactions ratio at 56.40%, up from 51.10% last year. Income,Expenditure & Profit– Q1 FY17 è Total income stood at 11786 crore. è Non-interest income increased to 1585 crore, with robust growth of 42.38% y.o.y. è Total expenditure declined by 2.75% to 9967 crore. è Operating expenses of the Bank stood at 2073 crore. è Gross profit stood at 1819 crore. è Total provision made in Q1FY17 at 1590 crore compared to 1525 crore in Q1FY16. The provision for NPAs at 1731 crore against 1314 crore in Q1FY16. Business Performance è Global Business reached 786597 crore.

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è Global Deposits reached 465314 crore. è Global Advances (Net) stood at 321283 crore. è Overseas business constituted 6.20% of the total business. Total business of 8 overseas branches stood at 48753 crore. è Clientele base increased to 7.36 crore accounts from 6.75 crore last year. Deposit Portfolio- Thrust on CASA & Retail Deposits è CASA deposits increased to 128270 crore, with a y.o.y growth of 16.95%. è CASA share (domestic) improved to 29.27% from 24.62% a year ago. è Retail term deposits increased to 180462 crore with a y.o.y growth of 17.7%. è Share of retail term deposits in term deposits increased to 60.7% compared to 48.4% last year. è Bulk Term Deposits reduced to 116913 crore from 162245 crore last year. Credit Portfolio- Thrust on Retail Assets è Retail Assets (Agriculture, MSMEs, Housing & Other Retail Schemes) constitutes 60% of the bank’s credit portfolio increased from 50.82% a year ago. è Advances to Priority Sector increased to 147681 crore, with 21.07% y.o.y growth. è Advances to Agriculture grew by 13.94% y.o.y to 69419 crore. è Credit to Micro, Small and Medium Enterprises (MSMEs) recorded a y.o.y growth of 8.53% to 67074 crore. è Credit to M&SE segments reached 50997 crore, with a growth of 7.58% y-o-y. The number of Micro Enterprises Accounts recorded a growth of 22.02%. è 28 lakh women beneficiaries assisted to the tune of 42871 crore, constituting 14.24% of ANBC. è Advances to Weaker Sections reached 44379 crore, with a y-o-y growth of 9.03%. è Lending to Specified Minority Communities reached 26465 crore, with a y-o-y growth of 12.45%. è Achieved the mandated targets in respect of Total Priority (49.03% against 40% ANBC norm), Agriculture (23.05% against 18% ANBC norm), credit to specified minority communities (17.93% against 15% norm) and weaker sections (14.74% against 10% ANBC norm). Number of Micro Enterprises accounts (22.02% growth against 10% norm) & Credit to women beneficiaries (14.24% against 5% norm). è Retail Lending Portfolio increased to 56155 crore, with a y-o-y growth of 33.77%. è Housing Loan (Direct) Portfolio increased to 21195 crore, with a y-o-y growth of 22.79%. è Vehicle loans and other personal loans recorded good growth of 16.47% (4433 crore) and 13.56% (11949 crore) respectively. è Education Loan Portfolio increased to 6915 crore, with a y.o.y growth of 18.61%, covering 2.90 lakh students. Capital Adequacy è Capital Adequacy Ratio as per Basel III norms improved to 12.11%, up from 10.75% a year ago. è CET 1 ratio at 8.21% & Tier I ratio at 8.83%. è The Bank raised 3000 crore Basel III compliant Tier II capital in April 2016. Govt of India has intimated to infuse 997 crore equity capital during the year. è Government shareholding is at 66.30%. è Comfortable capital position for further asset growth. Asset Quality è Gross NPA ratio increased to 9.71% from 9.40% as at March 2016 and 3.98% as at June 2015. è Net NPA ratio increased to 6.69% from 6.42% as at March 2016 and 2.74% as at June 2015. è Cash Recovery aggregated to 918 crore. è The Bank’s outstanding restructured portfolio at 23407 crore, constituted 7.03% of gross advances.

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Pradhan Mantri Jan Dhan Yojana (PMJDY) è 76.10 lakhs accounts opened under PMJDY, securing CASA deposits of 1348 crore. è 2.70 lakh PMJDY account holders have been provided with overdraft facility, amounting to 52 crore. è 71 Financial Literacy Centres (FLCs) opened at District/Block levels, educating 2.37 lakh persons. è 166.51 lakh residents have been enrolled under Aadhaar, with 42.97 lakh accounts mapped with Aadhaar numbers to NPCI mapper. è As a part of grievances redressal mechanism for customers, the Bank established Toll free number 1800 425 11222. Social Security Schemes è 57.05 lakhs enrolments have been done under both Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY- 20.02 lakhs) & Pradhan Mantri Suraksha Bima Yojana (PMSBY– 37.03 lakhs) during the year. è Under Atal Pension Yojana (APY) the Bank has cumulatively mobilized 73118 accounts. è Under Sukanya Samriddhi Yojana, 13248 accounts have been mobilized. Pradhan Mantri Mudra Yojana (PMMY) è Under Mudra Yojana, the Bank disbursed 888 crore, covering 78016 accounts in the first quarter. A Holistic Approach to Financial Inclusion (FI) è The Bank has provided banking facilities in all the allotted 10049 villages. è Covered all 3962 allotted SSAs by opening of 849 Brick & Mortar branches and engaging 2459 Business Correspondent agents. è Besides FI branches, the Bank has opened 477 Ultra Small Branches. è Financial Inclusion branches have garnered business of 12942 crore (deposits 5748 crore and advances of 7194 crore). è 18 Micro Finance branches have garnered a total business of 475 crore. è 1.57 crore BSBD accounts opened with outstanding CASA deposits of 3365 crore. è The Bank has formed 110 farmers’ clubs. è 6089 Self Help Groups (SHGs) have been formed and 7174 SHGs have been credit linked to the extent of 221 crore. Exposure under SHGs increased to 2383 crore under 1.21 lakh SHGs. è Business Correspondent Agents have done 19 lakh transactions, amounting to 355 crore. Enhanced Delivery Channels, Digital Footprints & Organizational Restructuring è The total branch network of the Bank increased to 5855, including 8 overseas branches (London, Leicester, Johannesburg, New York, Hong Kong, Manama, Shanghai and Dubai). è Total number of ATMs further expanded to 9657. 172 e-lounges were functional across major cities. è Debit card base rose to 3.29 crore. è 39.36 lakhs Mobile Banking and 25.01 lakhs Net Banking users. è Ratio of e-transactions increased to 56.40% against 51.10% a year ago. è Embarked on a major organizational restructuring- 4 Tier structure for retail banking comprising Head Office, 21 Circle Offices, 118 Regional Offices and 5835 branches. The 2 Tier structure for wholesale banking comprising Head Office and 12 Prime Corporate Branches for faster delivery and sanctions. è Major branch transformation with 801 Shikhar Branches for better customer service to drive business. New Products & Important Customer-friendly Technology Initiatives è Aadhaar seeding through BC Terminal

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è Renewal of Subscription for Social Security Schemes (PMJJBY/PMSBY) è Mobile Banking Registration through ATMs è Missed Call / SMS Based ePass Sheet generation è SMS/Email Alerts to customers intimating to submit RC Copy/Insurance for the vehicle loans and tax paid receipt/certificate for the mortgaged property. è SMS/Email Alerts to NPA Borrowers intimating to regularize overdues in accounts. Awards & Accolades The Bank was conferred with the following Major Awards in Q1FY17: è ‘Best Strategy in HR’ & ‘Training Excellence’ – Gold Awards, in 6th Annual Greentech HR Award 2016. è ‘SKOCH Order of Merit’ Award for initiatives under Financial Inclusion. è ‘Special Award for the Best Financial Institution-Gold’ for 7th year in succession by Federation of Karnataka Chamber of Commerce & Industry (FKCCI). è ‘MasterCard Innovation Award’ 2015 for International Travel Prepaid Card. è ‘VISA’ Award for achieving key monthly spends milestone on VISA Debit Cards. Goals: March 2017 è Thrust on Retail Business & Asset Quality- CASA & retail deposits, retail credit, fee income, containing NPA, recovery & upgradation and improving operational financial ratios, such as, NIM, RoA, RoE and Cost-to-Income. http://www.canarabank.com/upload/english/content/Press%20Release%20June%202016-FINAL.pdf Central Bank of India (NSE: CENTRALBK) Performance Highlights for the 4th Quarter and the Financial Year ended 31st March, 2016 Total Business of the Bank increased to Rs. 4,56,337 crore from Rs. 4,50,539 crore in March 2015, recording Y-o-Y growth of 1.29 %. Total Deposits of the Bank increased to Rs. 2,66,184 crore from Rs. 2,55,572 crore in March 2015, recording Y-o-Y growth of 4.15 %. Total Advances stood at Rs. 1,90,152 crore against Rs. 1,94,967 crore in March 2015, recording Y-o-Y decline of 2.47 %. CASA increased to Rs. 94,455 crore from Rs. 87,012 crore in March 2015, recording Y-o-Y growth of 8.55 % . Share of CASA in total deposits stood at 35.48 % as against 34.05 % in March 2015. Core Deposits increased to Rs. 2,51,376 crore from Rs. 2,28,137 crore in March 2015, recording Y-o-Y growth of 10.19 %. Total Income in FY 2015-16 was Rs. 27,826 crore. Provision Coverage Ratio stood at 51.52 % in March 2016. CRAR under BASEL II is at 11.07 % with Tier I at 7.44 % whereas CRAR under BASEL III is 10.41 % with Tier I at 8.20 %.

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NIM stood at 2.75 % in FY 2015-16. https://www.centralbankofindia.co.in/upload/Performance%20Highlights%20for%20the%204th%20Quarter%20and%20the%20Financial%20Year%20ended%2031st%20March2016.pdf HDFC Bank (NYSE: HDB) Financial Results (Indian GAAP) for the Quarter Ended June 30, 2016 The Board of Directors of HDFC Bank Limited approved the Bank’s (Indian GAAP) results for the quarter ended June 30, 2016, at their meeting held in Mumbai on Thursday, July 21, 2016. The accounts have been subjected to a ‘Limited Review’ by the statutory auditors of the Bank. FINANCIAL RESULTS: Profit & Loss Account: Quarter ended June 30, 2016 The Bank’s total income for the quarter ended June 30, 2016 was ` 19,322.6 crores, as against ` 16,503.0 crores for the quarter ended June 30, 2015. Net revenues (net interest income plus other income) increased by 19.6% to ` 10,588.1 crores for the quarter ended June 30, 2016 from ` 8,850.7 crores in the corresponding quarter of the previous year. Net interest income (interest earned less interest expended) for the quarter ended June 30, 2016 grew by 21.8% to ` 7,781.4 crores, from ` 6,388.8 crores for the quarter ended June 30, 2015, driven by average assets growth of 20.2% and a net interest margin for the quarter of 4.4%. Other income (non-interest revenue) at ` 2,806.6 crores was 26.5% of the net revenues for the quarter ended June 30, 2016 and grew by 14.0% over ̀ 2,461.9 crores in the corresponding quarter ended June 20, 2015. The four components of other income for the quarter ended June 30, 2016 were fees & commissions of ` 1,977.9 crores (` 1,713.0 crores in the corresponding quarter of the previous year), foreign exchange & derivatives revenue of ` 314.5 crores (` 348.0 crores for the corresponding quarter of the previous year), gain on revaluation / sale of investments of ` 276.9 crores (`125.9 crores in the corresponding quarter of the previous year) and miscellaneous income including recoveries of ` 237.4 crores (` 275.0 crores for the corresponding quarter of the previous year). Operating expenses for the quarter ended June 30, 2016 were ` 4,768.9 crores, an increase of 19.2% over ` 4,000.8 crores during the corresponding quarter of the previous year. The cost-to-income ratio for the quarter was at 45.0% as against 45.2% for the corresponding quarter ended June 30, 2015. Provisions and contingencies for the quarter ended June 30, 2016 were ` 866.7 crores (consisting of specific loan loss provisions ` 832.3 crores and general / floating / other provisions ` 34.4 crores) as against ` 728.0 crores (consisting of specific loan loss provisions ` 557.5 crores and general / floating / other provisions ` 170.5 crores) for the corresponding quarter ended June 30, 2015. After providing ` 1,713.6 crores for taxation, the Bank earned a net profit of ` 3,238.9 crores, an increase of 20.2% over the quarter ended June 30, 2015. Balance Sheet: As of June 30, 2016 Total balance sheet size as of June 30, 2016 was ` 755,100 crores as against ` 629,322 crores as of June 30, 2015. Total deposits as of June 30, 2016 were ` 573,755 crores, an increase of 18.5% over June 30, 2015. CASA deposits saw healthy growth with savings account deposits growing by 22.2% over the previous year to reach ` 152,701 crores and current account deposits growing by 13.7% over the previous year to reach ` 76,082 crores. Time deposits were

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at ` 344,972 crores an increase of 18.0% over the previous year resulting in CASA deposits at 39.9% of total deposits as on June 30, 2016. Advances as of June 30, 2016 were ` 470,622 crores, an increase of 23.2% over June 30, 2015. As per regulatory [Basel 2] segment classification, both domestic retail loans and wholesale loans grew by 24.5% (as per internal business classification, the growth was 24.9% and 23.7% respectively). The domestic loan mix between retail:wholesale was 53:47. Capital Adequacy: The Bank’s total Capital Adequacy Ratio (CAR) as per Basel III guidelines, was at 15.5% as at June 30, 2016 (15.7% as at June 30, 2015) as against a regulatory requirement of 9%. Tier-I CAR was at 13.3% as on June 30, 2016 compared to 12.8% as at June 30, 2015. NETWORK As of June 30, 2016, the Bank’s distribution network was at 4,541 branches and 12,013 ATMs as against 4,101 branches and 11,962 ATMs as of June 30, 2015. 54% of branches are now in the Semi-urban and rural locations. ASSET QUALITY Gross non-performing assets (NPAs) were at 1.04% of gross advances as on June 30, 2016, as against 0.95% as on June 30, 2015. Net non-performing assets were at 0.3% of net advances as on June 30, 2016. Total restructured loans were at 0.1% of gross advances as of June 30, 2016. Note: ` = Indian Rupees 1 crore = 10 million All figures and ratios are in accordance with Indian GAAP. NYSE: HDB http://www.hdfcbank.com/htdocs/aboutus/News_Room/pdf/Press_Release_June16.pdf ICICI Bank Limited (NYSE: IBN) Performance Review: Quarter ended June 30, 2016

• 22% year-on-year growth in retail portfolio; domestic advances grew by 17% year-on-year at June 30, 2016 • 18% year-on-year growth in current and savings account (CASA) deposits; CASA ratio at 45.1% at June 30,

2016 • Standalone profit after tax of ₹ 2,232 crore (US$ 331 million) for quarter ended June 30, 2016 (Q1-2017) • Consolidated profit after tax of ₹ 2,516 crore (US$ 373 million) for Q1-2017 • Capital adequacy ratios significantly higher than regulatory requirements; total capital adequacy of 16.45%

and Tier-1 capital adequacy of 13.02% on standalone basis at June 30, 2016, including profits for Q1-2017 The Board of Directors of ICICI Bank Limited (NYSE: IBN) at its meeting held at Mumbai today, approved the audited accounts of the Bank for the quarter ended June 30, 2016.

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Profit & loss account

• Net interest income was ₹ 5,159 crore (US$ 764 million) in the quarter ended June 30, 2016 (Q1-2017) compared to ₹ 5,115 crore (US$ 757 million) in the quarter ended June 30, 2015 (Q1-2016)

• Non-interest income increased by 15% to ₹ 3,429 crore (US$ 508 million) in Q1-2017 from ₹ 2,990 crore (US$ 443 million) in Q1-2016.

• The cost-to-income ratio was 39.3% in Q1-2017 compared to 37.8% in Q1-2016. • Provisions were at ₹ 2,515 crore (US$ 372 million) in Q1-2017 compared to ₹ 3,326 crore (US$ 493 million)

(excluding collective contingency and related reserve) in the quarter ended March 31, 2016 (Q4-2016) and ₹ 956 crore (US$ 142 million) in Q1-2016.

• Standalone profit after tax was ₹ 2,232 crore (US$ 331 million) for Q1- 2017 compared to ₹ 702 crore (US$ 104 million) for Q4-2016 and ₹ 2,976 crore (US$ 441 million) for Q1-2016.

• Consolidated profit after tax was ₹ 2,516 crore (US$ 373 million) for Q1- 2017 compared to ₹ 407 crore (US$ 60 million) for Q4-2016 and ₹ 3,232 crore (US$ 479 million) for Q1-2016.

Operating review Credit growth The year-on-year growth in domestic advances was 17%. The Bank has continued to achieve strong growth in its retail business, resulting in a year-on-year growth of 22% in the retail portfolio. The retail portfolio constituted about 46% of the loan portfolio of the Bank at June 30, 2016, compared to 43% at June 30, 2015. Total advances increased by 12% year-on-year to ₹ 449,427 crore (US$ 66.6 billion) at June 30, 2016 from ₹ 399,738 crore (US$ 59.2 billion) at June 30, 2015. Deposit growth The Bank continued to achieve robust growth in current and savings account (CASA) deposits. The Bank’s total CASA deposits increased by 18% year-on-year to ₹ 191,348 crore (US$ 28.3 billion) at June 30, 2016. During Q1-2017, savings account deposits increased by ₹ 3,985 crore (US$ 590 million). The Bank’s CASA ratio was 45.1% at June 30, 2016 compared to 45.8% at March 31, 2016 and 44.1% at June 30, 2015. The average CASA ratio was at 41.7% in Q1-2017 compared to 40.5% in Q4-2016 and 41.1% in Q1-2016. Total deposits increased by 15% year-on-year to ₹ 424,086 crore (US$ 62.8 billion) at June 30, 2016. The Bank had a network of 4,451 branches and 14,073 ATMs at June 30, 2016. Capital adequacy The Bank’s capital adequacy at June 30, 2016 as per Reserve Bank of India’s guidelines on Basel III norms was 16.22% and Tier-1 capital adequacy was 12.78%, significantly higher than the regulatory requirements. In line with applicable guidelines, the Basel III capital ratios reported by the Bank for June 30, 2016 do not include the profits for Q1- 2017. Including the profits for Q1-2017, the capital adequacy ratio for the Bank as per Basel III norms would have been 16.45% and the Tier I ratio would have been 13.02%. Asset quality Net non-performing assets at June 30, 2016 were ₹ 15,308 crore (US$ 2.3 billion) compared to ₹ 13,297 crore (US$ 2.0 billion) at March 31, 2016. The Bank’s net non-performing asset ratio was 3.01% at June 30, 2016 compared to 2.67% at March 31, 2016. The Bank’s provisioning coverage ratio, including cumulative prudential/ technical write-offs, was 57.1% at June 30, 2016. Net loans to companies whose facilities have been restructured were ₹ 7,241 crore (US$ 1.1 billion) at June 30, 2016 compared to ₹ 8,573 crore (US$ 1.3 billion) at March 31, 2016.

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Technology initiatives The Bank continued to strengthen its digital channels during the quarter. During Q1-2017, the Bank expanded the features available on its mobile banking application, ‘iMobile’, to include instant tax payment, issuance of personalised ‘Expressions’ debit cards, safeguarding cheques with ‘Positive Pay’ and purchase of insurance and mutual funds. iMobile received the highest overall score in the 2016 India Mobile Banking Functionality Benchmark Study conducted by Forrester. The Bank also introduced India’s first contactless credit card for SMEs and their employees. The Bank’s transaction volumes through digital channels continue to grow, with the internet and mobile channels accounting for about 65% of transactions in Q1-2017. Consolidated results Consolidated profit after tax was ₹ 2,516 crore (US$ 373 million) in Q1-2017 compared to ₹ 407 crore (US$ 60 million) in Q4-2016 and ₹ 3,232 crore (US$ 479 million) in Q1-2016. Consolidated assets grew by 14% from ₹ 824,051 crore (US$ 122.0 billion) at June 30, 2015 to ₹ 939,609 crore (US$ 139.1 billion) at June 30, 2016. Insurance subsidiaries ICICI Prudential Life Insurance Company (ICICI Life) has filed a draft red herring prospectus with the Securities and Exchange Board of India for a public offer of up to 181,341,058 equity shares of ICICI Life, representing approximately 12.65% of its equity share capital, for cash, through an offer for sale by the Bank. The offer includes a proposed reservation of up to 18,134,105 equity shares (10.0% of the offer) for individual and Hindu Undivided Family (“HUF”) shareholders of the Bank. ICICI Life’s retail weighted received premium increased by 11% from ₹ 843 crore (US$ 125 million) in Q1-2016 to ₹ 936 crore (US$ 139 million) in Q1- 2017. ICICI Life’s profit after tax was ₹ 405 crore (US$ 60 million) for Q1- 2017 compared to ₹ 397 crore (US$ 59 million) for Q1-2016. ICICI Lombard General Insurance Company (ICICI General) maintained its leadership in the private sector. The gross written premium of ICICI General increased by 39.3% from ₹ 2,122 crore (US$ 314 million) in Q1- 2016 to ₹ 2,955 crore (US$ 438 million) in Q1-2017. The profit after tax of ICICI General was ₹ 131 crore (US$ 19 million) in Q1-2017 compared to ₹ 116 crore (US$ 17 million) in Q1-2016. Summary Profit and Loss Statement (as per unconsolidated Indian GAAP accounts)

₹ crore

Q1-2016

Q4-2016

Q1-2017 FY2016

Net interest income 5,115 5,405 5,159 21,224

Non-interest income 2,990 5,109 3,429 15,322

Fee income 2,110 2,212 2,156 8,820

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Dividend and other income1 673 707 505 2,442

Treasury income 207 2,1902 768 4,0602

Less:

Operating expense 3,067 3,406 3,373 12,683

Operating profit 5,038 7,108 5,215 23,863

Less: Provisions and collective contingency and related reserve 956 6,9263 2,515 11,6673

Profit before tax 4,082 182 2,700 12,196

Less: Tax 1,106 (520) 468 2,470

Profit after tax 2,976 702 2,232 9,726

Summary Balance Sheet

₹ crore

June 30,

2015 June 30,

2016

March 31,

2016

(Audited) (Audited) (Audited)

Capital and Liabilities

Capital 1,161 1,164 1,163

Employee stock options outstanding 7 7 7

Reserves and surplus 82,191 90,779 88,566

Deposits 367,877 424,086 421,426

Borrowings (includes subordinated debt)1 163,120 174,095 174,807

Other liabilities 26,970 37,092 34,726

Total Capital and Liabilities 641,326 727,223 720,695

Assets

Cash and balances with Reserve Bank of India 20,234 25,647 27,106

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Balances with banks and money at call and short notice 10,159 13,084 32,763

Investments 148,078 168,322 160,412

Advances 399,738 449,427 435,264

Fixed assets 4,729 7,609 7,577

Other assets 58,388 63,134 57,573

Total Assets 641,326 727,223 720,695

http://www.icicibank.com/aboutus/article.page?identifier=news-performance-review-quarter-ended-june-30-2016-20162907182034075 IDBI Bank (NSE: IDBI) Highlights of Q1 FY 17 (June 30, 2016) financial results vis-à-vis Q1 FY 16 (June 30, 2015)

• Business up 5.77% to 4,71,394 Crore (from 4,45,668 Crore) • Deposits increased by 5.26% to 2,54,031 Crore (from 2,41,328 Crore) • Advances up by 6.37% to 2,17,363 Crore (from 2,04,339 Crore) • Total assets grew by 6.85% to 3,65,532 Crore (from 3,42,099 Crore) • Net Interest Income(NII) for Quarter ended June 2016 increased by 14.20% to 1,706 Crore from 1,494

Crore for Quarter ended June 2015 • Net Profit for Quarter ended on June 2016 increased by 78.36% to 241Crore from 135 Crore for Quarter

ended June 2015. Mumbai, August 11, 2016: The Board of Directors of IDBI Bank Ltd. (IDBI) met in Mumbai today to consider the unaudited financial results for the quarter ended June 30, 2016 which are as under: Working results: Statement of Profit & Loss

( in Crore)

Particulars

Q1 Q1 12 mths 2016-17 2015-16 2015-16

Total Income 8219 7903 31453 Interest income 7303 7261 28043 Non-Interest Income 916 642 3410 Total Expenses 6753 6765 26083 Interest expenses 5597 5767 21954 Operating expenses 1156 998 4129 Operating Profit 1466 1138 5370 Provisions (net) 1225 1003 9035 Net Profit 241 135 (3665)

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Statement of Assets & Liabilities

Particulars

As at 30.06.201

6

As at 30.06.201

5

As at 31.03.201

6 CAPITAL AND LIABILITIES Capital and Reserves & Surplus 27962 24440 27722 Deposits 254031 241328 265720 Borrowings 70247 64949 69574 Other Liabilities and Provisions 13292 11382 11357 TOTAL 365532 342099 374373 ASSETS Cash & balances with RBI and Balances with banks and money at call and short notice 20032 12772 16581 Investments 83986 88406 98999 Advances 217363 204339 215893 Fixed Assets & Other Assets 44151 36582 42900 TOTAL 365532 342099 374373 Profitability: IDBI reported a net profit of 241 Crore for the quarter ended June 30, 2016 as against 135 Crore for the quarter ended June 30, 2015. Total business (deposits and advances) as of June 30, 2016 stood at 4,71,394 Crore as against 4,45,668 Crore as of June 30, 2015 registering a growth of 5.77%. Deposits increased to 2,54,031 Crore as at end June 2016 from 2,41,328 Crore as at end June 2015 reflecting a growth of 5.26%. Advances also increased by 6.37% to 2,17,363 Crore as at end June 2016 as compared to 2,04,339 Crore as at end June 2015. Aggregate assets as of June 30, 2016, stood at 3,65,532 Crore as against 3,42,099 Crore as at June 30, 2015 registering a growth of 6.85%. Gross NPA as on June 30, 2016 stood at 11.92% ( 27,275 Crore) as compared to 10.98% ( 24,875 Crore) as at March 31, 2016. Net NPA as on June 30, 2016 stood at 7.47% ( 16,248 Crore) of net advances as compared to 6.78% ( 14,643 Crore) as at March 31, 2016. CAR: The Bank's CAR stood at 11.80 % (as per Basel III) as of June 30, 2016. Significant developments during April to June 2016

• IDBI Bank launched the eTrade Portal for online request of Letter of Credit, Bank Guarantee and further Straight Through Processing (STP) of such requests at Bank’s end. This e Trade portal is the first part of IDBI e Trade platform and the second module of the platform would cover Bills Discounting, Remittance, Pre & Post Shipment finance etc, which would be launched shortly.

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• IDBI Bank launched MPOS (Mobile Point of Sale) on April 30th, 2016 is a new variant of Point Of Sale terminal. It is a wireless device that performs the functions of electronic POS terminal. M-POS dongle (card reader) is paired with Mobile/tablet through Bluetooth connectivity & function like an EDC terminal facilitating anytime & anywhere card acceptance for merchants.

• IDBI Bank became the first public sector bank to open its IFSC Banking Unit (IBU) at India’s first and only International Financial Services Centre (IFSC) at Gujarat International Finance Tec-City (GIFT).

• IDBI Bank launched ‘IDBI Express’ an unique banking solution, enabling customers to bank at their chosen time and place beyond banking hours, without having to visit the Bank branch. ‘IDBI Express’ assists customers to transact, transfer and use payment services.

• Citi Bank honored IDBI Bank with Performance Excellence Awards on May 07, 2016 under two categories ‘Straight Through Processing for US Dollar Payments- 2015’ and ‘Tax Payments – 2014’ in recognition of the Bank’s efficiency in processing straight through online payments and facilitating smooth tax payments through Host-to-Host connectivity respectively.

http://www.idbi.com/press/Highlights-of-Q1-FY-17-June30-2016.html Kotak Mahindra Bank (NSE: KOTAKBANK) Kotak Mahindra Bank Announces Results Bank PAT for Q1FY17 ` 742 cr Consolidated PAT for Q1FY17 ` 1,067 cr Mumbai, July 21, 2016: The Board of Directors of Kotak Mahindra Bank (‘Kotak Bank’) took on record the unaudited standalone and consolidated results for Q1FY17, at the board meeting held in Mumbai, today. Kotak Mahindra Bank standalone results Bank PAT for Q1FY17 increased to ` 742 cr from ` 190 cr in Q1FY16 Net Interest Income (NII) for Q1FY17 up 20% to ` 1,919 cr from ` 1,598 cr in Q1FY16 Net Interest Margin (NIM) for Q1FY17 at 4.37% from 4.18% in Q1FY16 Advances as on June 30, 2016 were up 17% YOY to ` 120,765 cr (` 103,614 cr as on June 30, 2015). Deposits as on June 30, 2016 were up 20% YOY to ` 140,028 cr (` 116,812 cr as on June 30, 2015). Average Savings deposits for Q1FY17 grew by 35% to ` 28,523 cr from ` 21,189 cr in Q1FY16. Average Current Account deposits for Q1FY17 grew by 32% to ̀ 18,575 cr from ̀ 14,021 cr in Q1FY16. CASA as on June 30, 2016 stood at 37.4%. TD Sweep deposits as on June 30, 2016 were 6.2% of the total deposits. Capital adequacy ratio of the Bank including unaudited profits as per Basel III as on June 30, 2016 is 16.8% and Tier I ratio is 15.8% As on June 30, 2016, the Bank has a network of 1,333 full-fledged branches and 2,034 ATMs affording it the capacity and means to serve its customers through its wide presence. The merged network will help the Bank to leverage business opportunities.

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As on June 30, 2016, the branch footprint was as under

Zone West 31% North 29% South 34% East 6% Total 1,333

As on June 30, 2016, GNPA was 2.50% & NNPA was 1.21%. As on June 30, 2016, restructured loans considered standard were down to ` 160 cr i.e. 0.13% of net advances as against ` 305 cr i.e. 0.26% of net advances as on March 31, 2016. As on June 30, 2016, SMA2 outstanding was ` 474 cr (0.39% of net advances). Integration Technology integration across all platforms, channels and systems has been completed as of June 2016. The Bank is focussed on providing a uniform customer experience across its entire network. The Bank achieved smooth migration of data from one core banking platform to another with limited down-time and minimal impact. The People and Process integration is largely completed as of June 16; within 15 months from RBI approval. The Bank has identified combinational synergy levers, on cost and revenue side, which have been put into action. For this year, the Bank has planned relocation of more than 70 branches, primarily in metro cities. Digital Update Digital remains an area of focus for the Group. Bank and other subsidiaries like Securities, Life Insurance and Mutual Fund are gaining significant traction and market share. The Bank has setup an Innovation lab in Bangalore, which will play a critical role in our digital growth. Monthly transactions for the Bank on Mobile platform have crossed ` 3,000 cr in June 16. The share of digital transactions for the Bank in overall Fund transfer is ~ 60%. On a Year on Year basis, mobile payments have grown ~38% in terms of volume and ~68% in terms of value. Also, the average transaction size is up by 21%. Kotak Securities mobile transaction volumes crossed over ` 6,000 cr per month with number of trades crossing over 4.5 lacs per month. 35% of sales of Kotak Life Insurance policies in Q1FY17 were through Genie - Tablet based end to end sales solution. Consolidated results at a glance Consolidated PAT for Q1FY17 increased to ` 1,067 cr from ` 517 cr in Q1FY16 Consolidated advances up 17% to ` 147,004 cr as on June 30, 2016 from ` 125,522 cr as on June 30, 2015. Consolidated NIM for Q1FY17 stood at 4.38% (Q1FY16 – 4.29%) Consolidated capital adequacy ratio (CAR) including unaudited profits as per Basel III as on June 30, 2016 is 17.3%. Tier 1 ratio is 16.5% Total assets managed / advised by the Group as on June 30, 2016 are ` 110,926 cr (` 94,242 cr as on June 30, 2015) Consolidated Networth as on June 30, 2016 was ` 34,443 cr (` 30,226 cr as on June 30, 2015)

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Other major subsidiaries profit after tax are as under:

` cr Q1FY17 Kotak Mahindra Prime 120 Kotak Mahindra Investments 40 Kotak Mahindra Old Mutual Life Insurance

71

Kotak Securities 60 About Kotak Mahindra Group Established in 1985, Kotak Mahindra Group is one of India's leading financial services conglomerates. In February 2003, Kotak Mahindra Finance Ltd. (KMFL), the Group's flagship company, received banking license from the Reserve Bank of India (RBI), becoming the first nonbanking finance company in India to convert into a bank - Kotak Mahindra Bank Ltd. Effective April 1, 2015, ING Vysya Bank Ltd. has merged with Kotak Mahindra Bank Ltd. creating a ` 2 trillion institution (consolidated). As on March 31, 2016, the merged entity – Kotak Mahindra Bank Ltd, has a significant national footprint of 1,333 branches spread across 674 locations and 2,032 ATMs, affording it the capacity and means to serve even better. The consolidated net worth of the Group stands at ` 334 billion (approx. US$ 5.0 billion) as on March 31, 2016. The Group offers a wide range of financial services that encompass every sphere of life. From commercial banking, to stock broking, mutual funds, life insurance and investment banking, the Group caters to the diverse financial needs of individuals and the corporate sector. The Group has a wide distribution network through branches and franchisees across India, an International Business Unit at GIFT city, Gujarat, and international offices in London, New York, Dubai, Abu Dhabi, Mauritius and Singapore. http://www.kotak.com/sites/default/files/press_release/press_release_kotak_Q1FY17.pdf Punjab National Bank (NSE: PNB) Financial Results for the Quarter Ended June 30, 2016 New Delhi Date: 28.07.2016 Performance Highlights • Turnaround to Net Profit • Consistently high CASA share at 41.39%. • CASA Deposits growth stood at 12.1%. • Robust Growth of 14.4% in Saving Deposits. • Cost of Deposits reduced to 5.46% from 5.99% as on 30.06.2016. • Non Interest Income growth at 68.5% on YoY basis. • Trading Profit of Rs. 601 Cr. • Increased Recovery/Up gradation from NPA accounts • Operating Profit at Rs 3275 Cr for Q1 FY 17. • Share of Small Ticket Adv. to Domestic Non Food Credit increased to 58.9%. in June ’16 from 56.1% in June’15. • Consistently high Domestic NIM QI FY’ 17: 2.8%.

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• High growth in Non-Interest Income at 68.5% on YoY basis in Q1FY 17. Reorientation of Business: The Bank has reoriented its business model in alignment with the economic scenario towards small ticket business. Riding on the Digital wave, PNB is driving fresh growth in business through its vast network of branches spread Pan India. Business Transformation: Bank has framed strategies for all-round development and strength under “PNB Indradhanush”. This is multidimensional approach for business transformation focusing at People development, Digital banking, Improved customer service, Quality credit, Improved CASA and Profit maximization. Defining the priorities, PNB is pioneer in setting up “War Room” for real time Resolution, Recovery and Up gradation of NPAs. NETWORK Bank has 14805 touch points. Domestic branch network stands at 6809 and number of Business Correspondents at 7996 as on 30.06.2016. ATM network of the Bank is at 9669 as on 30.06.2016 INTERNATIONAL FORAYS • Bank is having 4 overseas branches, 2 in Hong Kong, 1 in Dubai and 1 Offshore Banking Unit in Mumbai and 4 Representative Offices (RO) at Dubai, Shanghai, Sydney and Dhaka. • Bank has two overseas subsidiaries viz. PNB International Ltd. –UK and Druk PNB Bank Ltd, One associate company viz. JSC SB PNB Kazakhstan and one Joint Venture Bank in Nepal i.e. Everest Bank Ltd. BUSINESS • Total Business of the Bank stood at Rs 945526 Cr as on June ’16 registering a yoy growth of 5.2% over corresponding period last year. • Deposits Total Deposits of the Bank recorded a yoy growth of 7.0% to reach Rs. 553952 Cr as on June’16. CASA deposits increased to Rs 203510 Cr in June’16 recording a yoy growth of 12.1%. Domestic CASA share improved to 41.39% as on June ’16 from 38.94% in June’ 15. The share is one of the highest among nationalized banks. Saving deposits increased by14.4% on yoy basis to Rs 171122 Cr. • Advances Net Advances increased to Rs 391574 Cr registering a yoy growth of 2.8% as on June’16. In line with Bank’s objective to achieve profitable growth from the grassroots, share of small ticket advances to Non food credit increased to 58.9% in June ’16 from 56.1% in June’15. Retail loans were at Rs 58550 Cr as on June’16, growing 19.7% on yoy basis over June’15. Housing loan grew yoy by a robust 24.1% to Rs 27820 Cr in June’16. MSME Advances increased to Rs 85502 Cr in June’16 showing yoy growth of 8.4%.

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• Micro, Small & Medium Advances Credit to Micro & Small Enterprises grew by 8.4% to Rs 85502 Cr as on June’16. Credit to Micro enterprises stood at Rs 28068 Cr showing yoy growth of 17.6% The Share of Micro Enterprises of MSE Outstanding of previous year has increased from 43.4% to 45.4% as on 30.06.2016. Stand Up India scheme launched by the Hon’ble Prime Minister on 05.04.2016. The Bank has opened 1548 accounts and disbursed Rs 166.9 Cr as on Mar’June’16. PROFITABILITY • Operating & Net Profit Operating Profit for June’ 16 stood at Rs 3275 Cr. Net Profit for June’ 16 stood at Rs 306 Cr. • Income Total Income stood at Rs 13930 Cr. during June 16. Net Interest Income during June 16 stood at Rs 3699 Cr and Non-interest Income stood at Rs 2355 Cr in June 16. • ASSET QUALITY As on June ’16, Gross NPA ratio stood at 13.75% and Net NPA ratio was at 9.16%. Provision Coverage Ratio stood at 52.5% as on June’16. Restructured assets of the Bank declined to Rs 18909 Cr in June’16 from Rs 39969 Cr in June’15 For intensifying the efforts in NPA reduction, a ‘War Room’ at HO has been created. E-auction drive and sale to ARCs are the other measures for recovery. • HR – People Before the Numbers Completed the Competency Mapping Drive recently. Intensive drive for skill building of the staff for on-boarding digital platform PNB-Univ: An online learning platform has been launched which is available on all major Mobile Platforms. It provides quick access to quality curriculum and training 24x7 right on the palm top PNB NAVODAYA: An on-boarding & Mentoring Mechanism has been introduced for newly recruited energetic, tech-savvy but inexperienced employees. • FINANCIAL INCLUSION PNB remains committed towards nation building and actively participated in all schemes launched by the Govt.of India for financial & social empowerment of the masses. Under the PM Jan Dhan Yojana, Bank opened 134.72 lacs accounts and issued 98.76 lacs RuPay Cards as on June’16. Rs 3349 Cr have been mobilized in these accounts. No of transactions through BC channel have increased to 76.18 Lacs in June’16 against 29.30 lacs in June’ 15. Income from Financial Inclusion activities have increased to Rs.17.75 crore in June’16 against Rs.7.45 crore in June’15.

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• MOVE TOWARDS DIGITALIZATION Bank is moving towards digitalization and number of new age digital initiatives have been introduced to provide greater ease and improved delivery of products and services to customers. Concerted efforts are on to increase usage of Alternate Delivery Channels which account for around 58.1% of transactions. • NEW PRODUCTS/INITIATIVES Seamless integration of Internet Banking with retail Internet Banking and Mobile Banking enabled. Green PIN facility for generation of duplicate PIN for debit card has been extended for new cards also (except for PMJDY accounts). Card to Card transfer facility has been started. Mobile Banking registration & submission of Cheque Book Request enabled through ATMs. Customers of other Banks can also register for Mobile Banking through PNB ATMs. Enhanced transaction limit for Mobile Banking users from Rs. 50,000/- per day to Rs. 1.00 lakh per day. New Cards launched: Power Savings Debit card for women customers Opening of Account through TAB Banking: Started Remote Account opening through Tablet PC based solution. Extending Immediate Payment Service (IMPS) services from Branches. PNB customers-Non & Mobile banking registration has been made live for PNB through Internet banking. OTP has been made mandatory for Master Cards for IRCTC transaction. NFS to Rupay Interface migration project has successfully made Live for all acquirer transactions. • AWARDS & ACCOLADES Golden Peacock National Training Award 2016 by Institute of Directors. Social Banking Excellence Awards 2015 under Rural Banking Category (Large Bank) by ASSOCHAM. Best Bank Award for PMJDY (Large Bank)-Winner of Banking Excellence Awards 2015 by CIMSME. Best MSME Bank (Large Bank)-Runners Up by CIMSME- Banking Excellence Awards 2015 ABP News Brand Excellence Awards 2015 under Banking Financial Services and Insurance Category by CMO Asia with World Marketing Congress Inspiring Work Place Awards 2015 under the category Best HR and Talent Management Practices by The Banking Frontiers. Agriculture Leadership Award 2015 by Agriculture Today Group. With the transformational agenda set at “Retail PNB - Digital PNB” Bank is poised to move forward to be participant in the likely economic growth during the current Financial Year. https://pnbindia.in/new/Upload/En/press_release_june_2016_Final.pdf Union Bank of India (NSE: UNIONBANK) Financial Results for the quarter and year ended March 31, 2016 The Board of Directors of Union Bank of India today approved the accounts of the Bank for the quarter and the financial year ended March 31, 2016. Highlights FGlobal Business up 7.0% (y-o-y) to Rs. 620445 crore as on March 31, 2016. F Share of CASA deposits improved by 310 bps to 32.3% from 29.2% in March 31, 2015.

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FSavings deposit grew at 13.4%, while share of high cost deposits declined to 2.1% (Mar 2016) from 3.0% (Mar 2015). In advances, RAM sectors grew at 11.7% (y-o-y), now contributing more than 52% of domestic loan book. FThe focus on CASA facilitated in sequential improvement in NIM by 10 bps to 2.32%. F Non-interest Income for FY 2015-16 up 3.1% compared to a year ago. F Increase in Operating expenses during FY 2015-16 contained at 1.30%. F Net Profit for FY 2015-16 stood at Rs. 1352 crore. Net Profit for January-March 2016 stood at Rs. 97 crore compared to Rs. 78 crore for October – December 2015. F Gross NPAs as percent to gross advances stood at 8.70%. Recovery and upgradation significantly improved to Rs. 395 crore in January-March 2016 from Rs.196 crore in October – December 2015. F Return on average assets for FY 2015-16 stood at 0.35%. Return on average assets (annualised) sequentially improved to 0.10% for January-March 2016 from 0.08% for October-December 2015. F Return on equity stood at 6.84% for FY 2015-16. Return on equity (annualised) too sequentially improved to 1.95% in January-March 2016 from 1.53% in October-December 2015 F Capital Adequacy Ratio (Basel III) improved both sequentially and on annual basis to 10.56%. Tier I CRAR is 8.14%, within which CET1 is 7.95%. F Union Bank of India won all the Six Banking Technology Awards from IBA (Indian Bank’s Association) in Best Technology Bank of year, Best use of Digital & Channels Technologies, Best use of Technology to enhance Customer Experience, Best Risk Management, Fraud, Cyber Security, Best Financial Inclusion Technology Initiatives and Best Payment Initiatives. Business Global Business grew by 7.0% from Rs. 579627 crore as on March 31, 2015 to Rs. 620445 crore as on March 31, 2016. Global Deposits increased from Rs. 316870 crore as on March 31, 2015 to Rs. 342720 crore as on March 31, 2016, registering a growth of 8.2%. Domestic Deposits increased by 7.6% from Rs. 312230 crore as on March 31, 2015 to Rs. 336086 crore as on March 31, 2016. CASA deposits grew by 19.7% to Rs. 110869 crore as on March 31, 2016 from Rs. 92650 crore in the previous year. CASA share in total deposits improved to 32.3% as on March 31, 2016 from 29.2% noted in previous year. Domestic CASA ratio stood at 32.9%. Savings bank deposits increased by 13.4% over a year ago and by 8.1% over December 2015. A total of 45 lakh CASA accounts were opened during the year. Share of high cost deposits in total deposits declined from 3.0% in March 2015 to 2.1% in March 2016. Global Advances increased from Rs. 252757 crore as on March 31, 2015 to Rs. 277725 crore as on March 31, 2016 recording a growth rate of 5.7%. Domestic Advances increased by 4.3% from Rs. 241323 crore as on March 31, 2015 to Rs. 251653 crore as on March 31, 2016. Advances to productive sectors of economy, i.e. retail, agriculture, and MSMEs, which we together call as ‘RAM’ sectors, grew by 11.7%, from Rs. 117987 crore as on March 31, 2015 to Rs. 131800 crore as on March 31, 2016. Overseas Business grew by 25.4% from Rs. 26074 crore as on March 31, 2015 to Rs. 32706 crore as on March 31, 2016. The Bank opened its 4th overseas branch in Sydney, Australia. Financial Performance for FY 2015-16 Domestic Net Interest Margin (NIM) stood at 2.39% in FY 2015-16 compared to 2.58% in FY 2014-15. Global NIM for FY 2015-16 was 2.32% as against 2.48% for FY 2014-15.

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Net Interest Income for FY 2015-16 stood at Rs. 8314 crore compared to Rs. 8444 crore in FY 2014-15. Non Interest Income for FY 2015-16 stood at Rs. 3632 crore, up by 3.1%. Increase in Operating expenses during FY 2015-16 contained at 1.30%. Operating profit for FY 2015-16 stood at Rs. 5722 crore compared to Rs. 5823 crore for FY 2014-15. Provisions for the year stood at Rs. 4291 crore, showing a growth of 6.2%. Net Profit for FY 2015-16 stood at Rs. 1352 crore compared to Rs. 1782 crore in FY 2014-15. Return on average assets stood at 0.35% for FY 2015-16 as against 0.49% for FY 2014-15. Cost of funds declined to 6.2% for FY 2015-16 as against 6.5% for FY 2014-15. Yield on funds declined to 8.4% for FY 2015-16 from 8.9% for FY 2014-15. Return on equity stood at 6.84% in FY 2015-16 as against 9.73% FY 2014-15. Earnings per share (annualised) stood at Rs. 20.42 in FY 2015-16 as against Rs. 28.05 in FY 2014-15. Financial Performance for the quarter ended March 2016 Domestic Net Interest Margin (NIM) stood at 2.46% for January-March 2016 as against 2.31% for October-December 2015. It was 2.43% a year ago. Global NIM for January-March 2016 was 2.32% as against 2.22% for October-December 2015 quarter. It was 2.37% a year ago. Net Interest Income for January-March 2016 stood at Rs. 2085 crore compared to Rs. 2122 crore in January-March 2015. Non Interest Income for January-March 2016 stood at Rs. 997 crore compared to Rs. 892 crore for October-December 2015 and Rs. 1143 crore for JanuaryMarch 2015. Increase in Operating expenses during FY 2015-16 contained at 3.7%. Net Profit for January-March 2016 stood at Rs. 97 crore, which is 24.4% higher over October-December 2015. Return on average assets (annualised) stood at 0.10% for January-March 2016 as against 0.08% for October-December 2015 and 0.47% for January-March 2015. Yield on funds stood at 8.13% for January-March 2016 as against 8.21% for October-December 2015 and 8.68% for January-March 2015. Cost of Funds stood at 5.98% for January-March 2016 as against 6.14% for October-December 2015 and 6.44% for January-March 2015. Return on equity (annualised) stood at 1.95% in January-March 2016 as against 1.53% in October-December 2015 and 9.70% in January-March 2015. Earnings per share (annualised) stood at Rs. 5.62 in January-March 2016 as against Rs. 4.57 in October-December 2015 and Rs. 27.92 in January-March 2015.

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Asset Quality Gross NPAs stood at 8.70% as on March 31, 2016 as against 7.05% as on December 31, 2015 and 4.96% as on March 31, 2015. Recovery and upgradation significantly improved to Rs. 395 crore in JanuaryMarch 2016 from Rs. 196 crore in October – December 2015. Net NPA ratio is at 5.25% as on March 31, 2016 as against 4.07% as on December 31, 2015 and 2.71% as on March 31, 2015. Provision Coverage stood at 50.98% as on March 31, 2016 compared to 55.00% as on December 31, 2015. It was 59.23% as on March 31, 2015. Capital Adequacy Capital Adequacy ratio of the Bank under Basel III improved to 10.56% as on March 31, 2016 compared to 10.30% as on December 31, 2015 and 10.22% as on March 31, 2015. The Tier I CRAR is 8.14%, within which Common Equity Tier 1 is 7.95%. During the year, the Bank has allotted, on preferential basis, 5,56,62,281 equity shares to the Government of India at an issue price of Rs 209.05 per share. On account of this preferential issue to the Government of India, the Bank’s equity capital increased by Rs 1080 crore. Consequently, the Government’s shareholding in the Bank increased from 60.47% to 63.44%. The Bank has raised Rs. 1000 crore of Tier 2 capital by way of issuing of 10,000 Basel III compliant Tier 2 bonds of face value of Rs. 10,00,000/- each at par, with 10 year tenure, bearing 8.61% p.a. coupon payable annually and with call option after 5 years on private placement basis on March 29, 2016. Dividend The Board of Directors recommended a dividend of 19.5% i.e. Rs 1.95 per equity share for the year ended March 31, 2016. This would be subject to approval by the shareholders. Financial Inclusion Under the Pradhan Manrti Jan Dhan Yojana (PMJDY), the Bank has opened more than 58 lakh accounts having a balance of Rs. 858 crore upto March 31, 2016. 55.3 lakh Rupay Card has been issued under PMJDY as at March 31, 2016. Under the DBTL scheme, over 60.30 lakh transactions with benefit amounting to Rs. 151.2 crore has been credited to beneficiaries’ accounts during Q4/FY16. Total enrolment under Pradhan Mantri Suraksha Bima Yojana (PMSBY), Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Atal Pension Yojana (APJ) increased to 29.0 lakh, 11.7 lakh and 0.46 lakh respectively. Digital Initiatives during the Year

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The Bank has been pioneer in taking various digital initiatives which are recognized by banking industry. The Bank launched various digital products for enhancing the customer services. Following are some of key initiatives during the year: IMPS through branches for Retail and Corporate customers Mobile Passbook (M Passbook) Missed call facility for Mobile Banking & Account balance SMS based value added services “UNION 24x7 COMFORT Lobby”. DigiPurse Union Selfie Online Account Opening Digital channels presently account for 67% of overall transactions, which is one of the best among Public Sector Banks. The Bank has a strong digital proposition with about 6900 ATMs, Call Centre working in 9 languages 24x7, Internet Banking, Mobile Banking, POS Terminals, Debit, Credit Cards and also Tabulous banking facility. Awards/Accolades during the Year Union Bank of India won all the Six Banking Technology Awards from IBA (Indian Bank’s Association) in Best Technology Bank of year, Best use of Digital & Channels Technologies, Best use of Technology to enhance Customer Experience, Best Risk Management, Fraud, Cyber Security, Best Financial Inclusion Technology Initiatives and Best Payment Initiatives. Golden Peacock Award for excellence in HR practice in 10th International Conference on Corporate Social Responsibility. Skoch Financial Inclusion and Deepening Award 2015 NBC TV 18 Financial Advisors Awards 2014 -15 in Best PSU Banks MSME Banking Excellence Awards 2015 from Chamber of Indian Micro Small & Medium Enterprises (CIMSME) 1. Best Bank Award for Promotional Schemes – Winner 2. Best Bank Award for Mudra Yojna - Runner Up National Award for Innovative Training Practices" (Second Prize for 2014-15) by Indian Society for Training & Development (ISTD) Excellence in Innovation’ Award 2015 for implementation of M Passbook from Financial Insights, International Data Corporation (IDC)

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“ICT4 Development Awards 2015” from ASSOCHAM in the areas of Green IT (Tabulous Banking, eKYC application, and M Passbook application “elets Awards 2015” for “Multi Channel Payment Solution (IMPS)” from elets Technomedia Pvt. Ltd. SKOCH order of Merit Awards 2015 for: 1. eKYC implementation 2. Financial Inclusion Technology 3. Kendriya Vidayalaya Fee Collection NPCI Award 2015 under: 1. Special category for implementation of IMPS through branches 2. Recognition Award 2015 in issuance of RuPay cards 1st Best Corporate Vigilance Excellence Award (2015-16) in corporate category in 7th Conclave of Vigilance Officers http://www.unionbankofindia.co.in/pdf/PressReleaseQ4FY16.pdf Yes Bank (NSE: YESBANK) YES BANK announces Financial Results for the Quarter ended June 30, 2016 Key Profit & Loss (P&L) Statement Highlights § Net Profit of ` 731.8 Crores in Q1FY17; y-o-y growth of 32.8% § Total Net Income of ` 2,217.1 Crores in Q1FY17 y-o-y growth of 38.1% § Net Interest Income of ` 1,316.6 Crores for Q1FY17; y-o-y growth of 24.2% on back of growth in Advances & CASA. NIM expanded to 3.4% in Q1FY17 from 3.3% a year ago § RoA stands at 1.7%, RoE at 20.7% for Q1FY17 § Book Value at ` 345.2 per share as on June 30, 2016 Key Balance Sheet Highlights § Y-o-Y growth in CASA of 63.0%; CASA Ratio improves to 29.6% from 23.4% a year ago, 6.2% improvement in one year. SA deposits posted robust growth of 81.6% y-o-y § CASA+Retail FDs as % of Total Deposits stands at a healthy 55.3% as at June 30, 2016 § Advances grew by 33.0% y-o-y to ` 1,05,942.0 Crores as at June 30, 2016 § Total Capital Adequacy as per Basel III is robust at 15.5% with Tier I ratio at 10.3% (including profits and excluding prorated dividend) Total Capital Funds at ` 22,394.3 Crores as of June 30, 2016 Key Asset Quality Highlights § Credit Costs at 15 bps for Q1FY17 § Gross Non Performing Advances (GNPA) at 0.79% and Net Non Performing Advances stable at (NNPA) at 0.29% as at June 30, 2016 § Provision Coverage Ratio (PCR) stands at 64.2% as at June 30, 2016 § Standard Restructured Advances as a proportion of Gross Advances at 0.49% (` 522.9 Crores) as at June 30, 2016, down from 0.71% (` 567.1 Crores) as at June 30, 2015. No additional restructuring done during the quarter § Security Receipts (SRs) stand at 0.19% (` 199.4 Crores) of Gross Advances as at June 30, 2016. There has been no sale to ARCs during the quarter

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§ Standard SDR Advances at 0.03% (` 34.3 Crores) of Gross Advances as at June 30, 2016 from single SDR account undertaken during the quarter § Nil 5:25 refinancing during Q1FY17 Mumbai, July 27, 2016: The Board of Directors of YES BANK Ltd. took on record the Q1FY17 results at its meeting held in Mumbai today. Commenting on the results and financial performance, Mr. Rana Kapoor, Managing Director & CEO, YES BANK said, “YES BANK has delivered another highly satisfactory quarter of financial performance reflected in strong & quality growth, sustained profitability and continued resilience in asset quality. The Bank continues to witness a robust CASA growth with the CASA ratio improving to a healthy 29.6% from 23.4% a year ago demonstrating significant momentum in the underlying Retail franchise platforms, as well as ongoing mandate in several corporate relationship groups. Further, YES BANK has received an in-principle approval from the Securities & Exchange Board of India (SEBI) to setup an Asset Management Company (AMC) which will further deepen our value proposition for our retail customers. Given the improving macroeconomic environment along with stable Asset quality and accelerating Retail franchise, the Bank is well poised to capture Market share across Retail and Corporate segments at an enhanced pace.” Q1FY17 Performance highlights Profit & Loss Account § Net Interest Income (NII): NII for Q1FY17 increased by 24.2% y-o-y to ` 1,316.6 Crores on account of strong growth in advances and CASA deposits. Net interest Margin (NIM) at 3.4% for Q1FY17 up from 3.3% for Q1FY16. § Non Interest Income: Non Interest Income increased by 65.2% y-o-y to ` 900.5 Crores in Q1FY17. § Total Net Income: Total Net Income increased by 38.1% y-o-y to ` 2,217.1 Crores in Q1FY17. § Operating and Net profit: Operating profit for Q1FY17 increased by 43.9% y-o-y to ` 1,306.8 Crores. Net Profit in Q1FY17 was up 32.8% y-o-y to ` 731.8 Crores. § Shareholders’ Returns: The Bank delivered RoA of 1.7% and RoE of 20.7% for Q1FY17. Balance Sheet § Deposits: Total Deposits grew by 28.6% y-o-y to ` 1,22,581.1 Crores as at June 30, 2016. The Bank’s Total Assets grew by 27.5% y-o-y to ` 1,77,228.9 Crores as at June 30, 2016. The Bank’s CD ratio stood at 86.4% as at June 30, 2016. Current and Savings Account (CASA) deposits grew by 63.0% y-o-y to ` 36,288.3 Crores increasing the CASA ratio to 29.6% as at June 30, 2016 up from 23.4% as at June 30, 2015. Further, SA deposits grew by 81.6% y-o-y to ` 25,186.5 Crores from ` 13,867.4 Crores as at June 30, 2015. § Advances: Total Advances grew by 33.0% y-o-y to ` 105,942.0 Crores as at June 30, 2016. Corporate Banking accounted for 67.5% of the Advances portfolio, while Retail & Business Banking (MSME) constituted 32.5%. § Asset Quality Bank continues to show resilience on all Asset Quality parameters:

1. NPA – Credit Costs at 15 bps for Q1FY17

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Gross Non Performing Advances (GNPA) as a proportion of Gross Advances was at 0.79% (` 844.6 Crores) while Net Non Performing Advances (NNPA) as a proportion of Net advances was stable at 0.29% (` 302.4 Crores) as at June 30, 2016. Bank’s specific loan loss Provision Coverage was at 64.2% as at June 30, 2016.

2. Standard Restructured at 0.49% (down from 0.71% y-o-y) No additional restructuring during the quarter. The total Standard Restructured Advances as a proportion of Gross Advances was at 0.49% (` 522.9 Crores) as at June 30, 2016, down from 0.71% (` 567.1 Crores) as at June 30, 2015. The restructured loans have been performing in line with expectations and the Bank does not anticipate any material slippages in this book.

3. Security Receipts at 0.19% (down from 0.28% y-o-y) No sale to ARC during the quarter. Net Security Receipts (SRs) stood at 0.19% of Gross Advances (` 199.4 Crores, comprising 10 borrowers) as on June 30, 2016, down from ` 221.0 Crores (0.28% of Gross Advances) as on June 30, 2015.

4. Standard SDR Advance – Single SDR of only 0.03% outstanding exposure During the quarter bank had one instance of Standard asset Strategic Debt Restructuring with an outstanding exposure of only 0.03% (` 34.3 Crores) to Gross Advances as on June 30, 2016.

5. 5:25 Refinancing – ‘No 5:25 Refinancing during the quarter’

6. Rating Profile - Bank’s Corporate Exposures continue to remain well rated with over 75% § Capital Funds (including profits, excluding prorated dividend): As per Basel III, Tier I Capital of ` 14,825.6 Crores stood at 10.3%, and total CRAR stood at 15.5% as at June 30, 2016. Total Capital funds are at ` 22,394.3 Crores as at June 30, 2016. Risk Weighted Assets stood at ` 1,44,252.6 Crores as at June 30, 2016. RWA to Total Assets at 81.4% as on June 30, 2016 against 81.0% as on June 30, 2015. § Liquidity Coverage Ratio: During Q1FY17, the Bank continued with the LCR maintenance at well above 70% regulatory requirement with monthly average Liquidity Coverage ratio of 83.1%, reflecting a healthy liquidity position. YES Bank Credit Rating Profile § Bank continues to maintain strong credit ratings across International and Domestic Rating agencies. § Moody’s has reaffirmed Long-term international rating of Baa3 which is in line with the Sovereign Rating of India. § Domestic Rating agencies (ICRA & CARE) have Long-Term rating of AA+ for the Bank’s Basel III compliant Tier II instruments as well as for Infrastructure Bonds. Social Media § According to the recent ranking by The Financial Brand publication, YES BANK is ranked amongst the Top 5 Global Bank Brands on Social Media.

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§ As per the same report, YES BANK is the Highest followed Global Bank Brand on Twitter with over 1 million followers, and also the Fastest Growing Global Bank Brand on Facebook with more than 3.5 million Page Likes. § YES BANK is also the Highest Followed Bank Brand on Instagram in India with over 2 lakh followers. § YES BANK is the 1st Bank in India to launch ‘Facebook at Work’ to its workforce & have achieved 100% registration across over 16,000 employees. Digital Banking YES Bank continues investing significantly in new-age mediums and digital technologies to achieve a heightened customer engagement and experience. Some of the Bank’s key digital initiatives revolutionizing payments ecosphere are as follows: Ø YES Money program: One of the largest Domestic Remittance program encompassing over 5.1 million customers with a cumulative transaction throughput of ` 13,000 Crores. Ø Over 2.4 million YES Bank co-branded Virtual prepaid Cards issued on the MasterCard platform since launch in January 2016, the ‘largest virtual prepaid card’ program in the world. Ø Over 34 million YES Bank powered Freecharge Wallets issued since launch in September 2015. Ø Launched ‘QR Code’ based Proximity Payments in collaboration with Click & Pay. Expansion & Knowledge Initiatives § Total headcount stands at 16,421 as at June 30, 2016, an increase of 1,421 employees in the quarter and 4,878 incremental employees since June 30. 2015. § The Bank’s branch network stood at 900 branches as on June 30, 2016, an addition of 40 branches in the quarter. Total ATM network stands at 1,680 as on June 30, 2016, of which 428 are Bunch Note Acceptors (BNA)/Recyclers. § YES BANK has received RBI approval post approval from the CCEA (Govt. of India) to raise its Foreign Investment Limit to 74%. This has made YES BANK the FIRST Bank in India to have an operational fully fungible composite foreign ownership limit of 74% § YES BANK has received an in-principle approval from the Securities & Exchange Board of India (SEBI) to sponsor a Mutual Fund and to setup an Asset Management Company (AMC), and a Trustee Company. The AMC and the Trust Company shall be set up as wholly owned subsidiaries of YES BANK Limited. This is further to the Reserve Bank of India (RBI) approval for AMC granted to YES BANK in October 2015 § YES BANK has announced commitment of ̀ 250 Crores towards two key focus areas of livelihood and water security, and environment sustainability by 2020 through its focused and intensified CSR and Sustainability action. § YES BANK has pledged GBP 1 Million to the London School of Economics and Political Science (LSE) to support the IG Patel Chair– named in honour of the former Governor of the Reserve Bank of India and former Director of LSE. The funding from YES BANK will also support the work of the LSE India Observatory, which was established in 2007 to continue to develop and enhance research and programmes related to India's economy, politics and society with a specific focus on Climate Change and Sustainability. Awards & Recognitions § YES Bank has been adjudged as Asia’s Best Bank for Corporate Social Responsibility at the Euromoney Excellence Awards 2016 held in Hong Kong. § YES BANK won 2 awards at The Asset Triple A Asia Infrastructure Awards 2016, Hong Kong:

o Best Energy/Renewable Energy Deal – Solar, India for Porbandar Solar Power ` 126 Crores non-convertible debentures, in which YES BANK acted as sole underwriter. o Best Green Bond Facility within highly commended category in India, for IFC’s ` 315 Crores green infrastructure bonds on the back of YES BANK’s domestic green bond issuance

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§ YES BANK made its maiden entry into the Forbes Global 2000 List of World’s Top Companies 2016. YES BANK was the youngest Indian Company on the Forbes 2000 List and also one of the youngest Banks in the World on this prestigious list. § YES BANK was recognized among India’s Best BFSI Brands by Economic Times Best BFSI Brands 2016 § YES BANK received multiple awards at The Asian Banker Awards 2016:

o Best Trade Finance Bank in India o Best Corporate Payments Project in India for API Banking implementation for Snapdeal, one of India’s

leading e-commerce players § YES BANK received the Best Bank (midsized) Award for Cyber Defence from RBI Governor Dr. Raghuram Rajan at the IDRBT Banking Technology Excellence Awards 2016 § Mr. Rana Kapoor, MD&CEO was felicitated by the London Business School (LBS) India Business Forum 2016 for Exemplary Contribution to Entrepreneurship & Innovation ABOUT YES BANK YES BANK, India’s fifth largest private sector Bank, is the outcome of the professional & entrepreneurial commitment of its Founder Rana Kapoor and his top management team, to establish a high quality, customer centric, service driven, private Indian Bank catering to the Future Businesses of India. YES BANK has adopted international best practices, the highest standards of service quality and operational excellence, and offers comprehensive banking and financial solutions to all its valued customers. YES BANK has a knowledge driven approach to banking, and a superior customer experience for its retail, corporate and commercial banking clients. YES BANK is steadily evolving its HR character as the Professionals’ Bank of India, with the unrelenting vision of “Building the Finest Quality Bank of the World in India” by 2020. https://www.yesbank.in/pdf/q1fy17_press_release_pdf

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