TABLE OF CONTENT

Chapter Name Page no.

1 Logo of the company 2

2 Introduction

History ,Vision, core

values, organizational

structure, address of

Head office and few

other branch offices

3-10

3 Business portfolio 11-14

4 Marketing strategy,

service mix and

competitive strategy

15-18

5 Corporate governance 19-24

6 Expansion plan 25-27

7 Financial analysis 28-31

8 Share price analysis 32-34

9 Achievements 35-40

10 Competitors 41

11 Bibliography 42

Bar graph (showing expansion in branches and ATM) -- 26

1

CHAPTER--1

LOGO OF AXIS BANK

Everything is the same, just the name is changed

2

CHAPTER--2

INTRODUCTION

Commercial banking services which includes merchant banking, direct finance infrastructure

finance, venture capital fund, advisory, trusteeship, forex, treasury and other related financial

services. As on 31-Mar-2009, the Group has 827 branches, extension counters and 3,595

automated teller machines (ATMs).

Axis Bank was the first of the new private banks to have begun operations in 1994, after the

Government of India allowed new private banks to be established. The Bank was promoted

jointly by the Administrator of the specified undertaking of the Unit Trust of India (UTI - I), Life

Insurance Corporation of India (LIC) and General Insurance Corporation of India (GIC) and

other four PSU insurance companies, i.e. National Insurance Company Ltd., The New India

Assurance Company Ltd., The Oriental Insurance Company Ltd. and United India Insurance

Company Ltd. The Bank today is capitalized to the extent of Rs. 359.76 crores with the public

holding (other than promoters) at 57.79%.The Bank's Registered Office is at Ahmedabad and its

Central Office is located at Mumbai. The Bank has a very wide network of more than 853

branches and Extension Counters (as on 30th June 2009). The Bank has a network of over 3723

ATMs (as on 30th June 2009) providing 24 hrs a day banking convenience to its customers. This

is one of the largest ATM networks in the country. The Bank has strengths in both retail and

corporate banking and is committed to adopting the best industry practices internationally in

order to achieve excellence.

1.2 History of Axis bank:

1993: The Bank was incorporated on 3rd December and Certificate of business on 14th

December. The Bank transacts banking business of all description. UTI Bank Ltd. was promoted

by Unit Trust of India, Life Insurance Corporation of India, General Insurance Corporation of

India and its four subsidiaries. The bank was the first private sector bank to get a license under

the new guidelines issued by the RBI.

1997: The Bank obtained license to act as Depository Participant with NSDL and applied for

registration with SEBI to act as `Trustee to Debenture Holders'. Rupees 100 crores was

3

contributed by UTI, the rest from LIC Rs 7.5 crores, GIC and its four subsidiaries Rs 1.5 crores

each.

1998: The Bank has 28 branches in urban and semi urban areas as on 31 st July. All the branches

are fully computerized and networked through VSAT. ATM services are available in 27

branches. The Bank came out with a public issue of 1,50,00,000 No. of equity shares of Rs 10

each at a premium of Rs 11 per share aggregating to Rs 31.50 crores and Offer for sale of

2,00,00,000 No. of equity shares for cash at a price of Rs 21 per share. Out of the public issue

2,20,000 shares were reserved for allotment on preferential basis to employees of UTI Bank.

Balance of 3,47,80,000 shares were offered to the public. The company offers ATM cards, using

which account-holders can withdraw money from any of the bank's ATMs across the country

which is inter-connected by VSAT. UTI Bank has launched a new retail product with operational

flexibility for its customers. UTI Bank will sign a co-brand agreement with the market, leader,

Citibank NA for entering into the highly promising credit card business. UTI Bank promoted by

India's pioneer mutual fund Unit Trust of India along with LIC, GIC and its four subsidiaries.

1999: UTI Bank and Citibank have launched an international co-branded Credit card. UTI Bank

and Citibank have come together to launch an international co-branded credit card under the

MasterCard umbrella. UTI Bank Ltd has inaugurated an off site ATM at Ashok Nagar here,

taking the total number of its off site ATMs to 13.m

2000: The Bank has announced the launch of Tele-Depository Services for Its depository clients.

UTI Bank has launch of `iConnect', its Internet banking Product. UTI Bank has signed a

memorandum of understanding with equitymaster.com for e-broking activities of the site.

Infinity.com financial Securities Ltd., an e-broking outfit is Typing up with UTI Bank for a

banking interface. Geojit Securities Ltd, the first company to start online trading services, has

signed a MoU with UTI Bank to enable investors to buy\sell demat stocks through the company's

website. India bulls have signed a memorandum of understanding with UTI Bank. UTI Bank has

entered into an agreement with Stock Holding Corporation of India for providing loans against

shares to SCHCIL's customers and funding investors in public and rights issues. ICRA has

upgraded the rating UTI Bank's Rs 500 crore certificate of deposit programmed to A1+. UTI

4

Bank has tied up with L&T Trade.com for providing customized online trading solution for

brokers.

2001: UTI Bank launched a private placement of non-convertible debentures to rise up to Rs 75

crores. UTI Bank has opened two offsite ATMs and one extension counter with an ATM in

Mangalore, taking its total number of ATMs across the country to 355. UTI Bank has recorded a

62 per cent rise in net profit for the quarter ended September 30, 2001, at Rs 30.95 crore. For the

second quarter ended September 30, 2000, the net profit was Rs 19.08 crore. The total income of

the bank during the quarter was up 53 per cent at Rs 366.25 crore.

2002: UTI Bank Ltd has informed BSE that Shri B R Barwale has resigned as a Director of the

Bank w.e.f. January 02, 2002. A C Shah, formerchairman of Bank of Baroda, also retired from

the bank’s board in the third quarter of last year. His place continues to be vacant. M Damodaran

took over as the director of the board after taking in the reins of UTI. B S Pandit has also joined

the bank’s board subsequent to the retirement of K G Vassal. UTI Bank Ltd has informed that

Shri Paul Fletcher has been appointed as an Additional Director Nominee of CDC Financial

Service (Mauritius) Ltd of the Bank.And Shri Donald Peck has been appointed as an Additional

Director (nominee of South Asia Regional Fund) of the Bank. UTI Bank Ltd has informed that

on laying down the office of Chairman of LIC on being appointed as Chairman of SEBI, Shri G

N Bajpai, Nominee Director of LIC has resigned as a Director of the Bank.

2002: B Paranjpe & Abid Hussain cease to be the Directors of UTI Bank.UTI Bank Ltd has

informed that in the meeting of the Board of Directors following decisions were taken: Mr Yash

Mahajan, Vice Chairman and Managing Director of Punjab Tractors Ltd were appointed as an

Additional Director with immediate effect. Mr N C Singhal former Vice Chairman and

Managing Director of SCICI was appointed as an Additional Director with immediate effect.

ABN Amro, UTI Bank in pact to share ATM. UTI Bank Ltd has informed BSE that a meeting of

the Board of Directors of the Bank is scheduled to be held on October 24, 2002 to consider and

take on record the unaudited half yearly/quarterly financial results of the Bank for the half

year/Quarter ended September 30, 2002. UTI Bank Ltd has informed that Shri J M Trivedi has

been appointed as an alternate director to Shri Donald Peck with effect from November 2, 2002.

5

2003: UTI Bank Ltd has informed BSE that at the meeting of the Board of Directors of the

company held on January 16, 2003, Shri R N Bharadwaj, Managing Director of LIC has been

appointed as an Additional Director of the Bank with immediate effect.- UTI Bank, the private

sector bank has opened a branch at Nellore. The bank's Chairman and Managing Director, Dr

P.J. Nayak, inaugurating the bank branch at GT Road on May 26. Speaking on the occasion, Dr

Nayak said. This marks another step towards the extensive customer banking focus that we are

providing across the country and reinforces our commitment to bring superior banking services,

marked by convenience and closeness to customers. -UTI Bank Ltd. has informed the Exchange

that at its meeting held on June 25, 2003 the BOD have decided the following: 1) To appoint Mr.

A T Pannir Selvam, former CMD of Union Bank of India and Prof. Jayanth Varma of the Indian

Institute of Management, Ahmedabad as additional directors of the Bank with immediate effect.

Further, Mr. Pannir Selvam will be the nominee director of the Administrator of the specified

undertaking of the Unit Trust of India (UTI-I) and Mr. Jayanth Varma will be an Independent

Director. 2) To issue Non-Convertible Unsecured Redeemable Debentures up to Rs.100 crs, in

one or more tranches as the Bank's Tier - II capital. -UTI has been authorized to launch 16 ATMs

on the Western Railway Stations of Mumbai Division. -UTI filed suit against financial

institutions IFCI Ltd in the debt recovery tribunal at Mumbai to recover Rs.85cr in dues. -UTI

bank made an entry to the Food Credit Programme it has made an entry into the 59 cluster which

includes private sector, public sector, old private sector and co-operative banks. -Shri Ajeet

Prasad, Nominee of UTI has resigned as the director of the bank. -Banks Chairman and MD Dr.

P. J. Nayak inaugurated a new branch at Nellore.-UTI bank allots shares under Employee Stock

Option Scheme to its employees. -Unveils pre-paid travel card 'Visa Electron Travel Currency

Card' -Allotment of 58923 equity shares of Rs 10 each under ESOP. -UTI Bank ties up with UK

govt fund for contract farm in -Shri B S Pandit, nominee of the Administrator of the Specified

Undertaking of the Unit Trust of India (UTI-I) has resigned as a director from the Bank wef

November 12, 2003. -UTI Bank unveils new ATM in Sikkim.

2004: Comes out with Rs. 500 mn Unsecured Redeemable Non-Convertible Debenture Issue,

issue fully subscribed -UTI Bank Ltd has informed that Shri Ajeet Prasad, Nominee of the

Administrator of the Specified Undertaking of the Unit Trust of India (UTI - I) has been

appointed as an Additional Director of the Bank w. e. f. January 20, 2004.-UTI Bank opens new

6

branch in Udupi-UTI Bank, Geojit in pact for trading platform in Qatar -UTI Bank ties up with

Shriram Group Cos -Unveils premium payment facility through ATMs applicable to LIC UTI

Bank customers –Metal junction (MJ)- the online trading and procurement joint venture of Tata

Steel and Steel Authority of India (SAIL)- has roped in UTI Bank to start off own equipment for

Tata Steel. -DIEBOLD Systems Private Ltd, a wholly owned subsidiary of Diebold Incorporated,

has secured a major contract for the supply of ATMs an services to UTI Bank -HSBC completes

acquisition of 14.6% stake in UTI Bank for .6 m -UTI Bank installs ATM in

Thiruvananthapuram -Launches Remittance Card' in association with Remit2India, a Web site

offering money transfer services

2005: - UTI Bank enters into a banc assurance partnership with Bajaj Allianz General for selling

general insurance products through its branch network. -UTI Bank launches its first Satellite

Retail Assets Centre (SRAC) in Karnataka at Mangalore.

2006: -UBL sets up branch in Jaipur -UTI Bank unveils priority banking lounge.

Axis Bank (Head Office), M.G Road, Bangalore

Category:  Bank , ATM

Phone:  (080) 25370616

Address: 9, A-Block, Esquire Centre, M.G Road , Bangalore- 560001, Karnataka

Landmark: Opposite Nalli Silks

Axis Bank ,other Branch offices

Aditya Corporate Plaza, Opposite Dayanand Vihar Main Gate, Community Center, Karkardooma, New Delhi, Delhi 110092 011 2237 5652 ANDHRA PRADESH Hyderabad H. No. 8-2-293/82/J-III/19, Plot No. 19-III, Road No. 71,Jubilee Hills, Hyderabad - 500034. Ph. 040-23600082/3/4.ASSAM Jorhat A T Road, Chowk Bazar, Jorhat, Assam - 785001. Ph. 0376-2300825/6BIHAR/ JHARKHAND Bhagalpur 34, Patal Babu Road, Bhagalpur, Bihar - 812001. 0641-2409444/5/6. Dhanbad Shri Ram Plaza, 1st Floor, Bank More Dhanbad - 826001. 0326-2300667/669. Gaya North Church Road, Near Gandhi MaidanPS : Civil Lines, Gaya - 823001. 0631-2221258/62/70. Jamshedpur Voltas House, Main Road, Bistupur Jamshedpur - 831001. 0657-2422306/7/3630. Muzaffarpur Rd Complex, Club Road Kalyani, Muzaffarpur - 842001. 0621-2244009/14. Patna Saket Towers, S P Verma Road, Patna - 800001. 0612-2206702/03. Patna Udaiman Apartment, Boring Road, Patna - 800001. 0612-2573341/2/3

7

VISION, MISSION AND VALUES

VisionTo be the preferred brand for total financial banking solAXISons for both corporate and individuals Mission o Customer Service and Product Innovation tuned to diverse needs of Individual and corporate clientele.

o Continuous technology up gradation while maintaining human values.

o Progressive globalization and achieving international standards.

o Efficiency and effectiveness built on ethical practices.Values o Customer Satisfaction through

Providing quality service effectively and efficiently

Smile, it enhances your face value" is a service quality stressed on

Periodic Customer Service Auditso Maximization of Stakeholder value o Success through Teamwork, Integrity and People Vision20 15 and Core Values VISION 2015: o To be the preferred financial solutions provider excelling in customer delivery through insight, empowered employees and smart use of technology CO REVALUES

Customer Centricity

Ethics

Transparency

Teamwork

Ownership

8

ORGANIZATION STRUCTURE OF AXIS BANK

9

SWOT ANALYSIS OF AXIS BANK

Strength

Support of various promoters.

High level of services.

Knowledge of Indian market. Weakness

Market capitalization is very low.

Not having good image.

Not been able to position itself correctly. Opportunities

Growing Indian bank sectors.

People are becoming more service oriented.

Opportunities to be explored in global market. Threats Threat from various competitors.

Foreign banks

Govt. banks, e.g. SBI, PNB etc

Private sector competitors like HDFC, ICICI Future market trends. Advent of MNC banks

10

CHAPTER--3

BUSINESS PORTFOLIO

Customer service in Banking Operations

Cheque Drop Box Facility

RBI's Committee on Procedures and Performance Audit on Public Services has recommended

that both the drop box facility and the facility for acknowledgement of the cheques at the regular

collection counters should be available to customers and no branch should refuse to give an

acknowledgement if the customer tenders the cheques at the counters.

Issue of Cheque Books: The Committee has observed that some banks do not allow

depositors to collect their cheque book at the branch but insist on dispatching the cheque

book by courier to the depositor. Further, it is stated by the Committee that the depositor is

forced to sign a declaration that a despatch by the courier is at the depositor's risk and

consequence and that the depositor shall not hold the bank liable in any manner whatsoever

in respect of such despatch of cheque book. Committee has observed this as an unfair

practice and advised banks to refrain from obtaining such undertakings from depositors.

Banks should also ensure that cheque books are delivered over the counters on request to the

depositors or his authorized representative.

Statement of Accounts / Pass Books: The Committee has noted that banks invariably show

the entries in depositor’s passbooks / statement of accounts as "By Clearing" or "By

Cheque". Further, in the case of Electronic Clearing System (ECS) and RBI Electronic Funds

Transfer (RBIEFTR) banks invariably do not provide any details even though brief

particulars of the remittance are provided to the receiving bank. In some cases computerized

entries use sophisticated codes which just cannot be deciphered. With a view to avoiding

inconvenience to depositors, banks are advised to avoid such inscrutable entries in passbooks

statements of account and ensure that brief, intelligible particulars are invariably entered in

passbooks / statements of account. Banks may also ensure that they adhere to the monthly

11

periodicity prescribed by us while sending statement of accounts.

3.3 Traditional banking activities: Banks act as payment agents by conducting checking or

current accounts for customers, paying cheques drawn by customers on the bank, and collecting

cheques deposited to customers' current accounts. Banks also enable customer payments via

other payment methods such as telegraphic transfer, EFTPOS, and ATM. Banks borrow money

by accepting funds deposited on current accounts, by accepting term deposits, and by issuing

debt securities such as banknotes and bonds. Banks lend money by making advances to

customers on current accounts, by making installment loans, and by investing in marketable debt

securities and other forms of money lending. Banks provide almost all payment services, and a

bank account is considered indispensable by most businesses, individuals and governments.

Non-banks that provide payment services such as remittance companies are not normally

considered an adequate substitute for having a bank account. Banks borrow most funds from

households and non-financial businesses, and lend most funds to households and non-financial

businesses, but non-bank lenders provide a significant and in many cases adequate substitute for

bank loans, and money market funds, cash management trusts and other non-bank financial

institutions in many cases provide an adequate substitute to banks for lending savings to

3.4 Accounting for bank accounts

Bank statements are accounting records produced by banks under the various accounting

standards of the world. Under GAAP and IFRS there are two kinds of accounts: debit and credit.

Credit accounts are Revenue, Equity and Liabilities. Debit Accounts are Assets and Expenses.

This means you credit a credit account to increase its balance, and you debit a debit account to

increase its balance. This also means you debit your savings account every time you deposit

money into it (and the account is normally in deficit), while you credit your credit card account

every time you spend money from it (and the account is normally in credit).However, if you read

your bank statement, it will say the opposite that you credit your account when you deposit

money, and you debit it when you withdraw funds. If you have cash in your account, you have a

positive (or credit) balance; if you are overdrawn, you have a negative (or deficit) balance. The

12

reason for this is that the bank, and not you, has produced the bank statement. Your savings

might be your assets, but the bank's liability, so they are credit accounts (which should have a

positive balance). Conversely, your loans are your liabilities but the bank's assets, so they are

debit accounts (which should have a also have a positive balance).Where bank transactions,

balances, credits and debits are discussed below, they are done so from the viewpoint of the

account holder which is traditionally what most people are used to seeing.

3.5 Economic functions

1. Issue of money, in the form of banknotes and current accounts subject to cheque or payment

at the customer's order. These claims on banks can act as money because they are negotiable

and/or repayable on demand, and hence valued at par. They are effectively transferable by

mere delivery, in the case of banknotes, or by drawing a cheque that the payee may bank or

cash.

2. Netting and settlement of payments – banks act as both collection and paying agents for

customers, participating in interbank clearing and settlement systems to collect, present, be

presented with, and pay payment instruments. This enables banks to economies on reserves

held for settlement of payments, since inward and outward payments offset each other. It also

enables the offsetting of payment flows between geographical areas, reducing the cost of

settlement between them.

3. Credit intermediation – banks borrow and lend back-to-back on their own account as

middle men

4. Credit quality improvement – banks lend money to ordinary commercial and personal

borrowers (ordinary credit quality), but are high quality borrowers. The improvement comes

from diversification of the bank's assets and capital which provides a buffer to absorb losses

without defaulting on its obligations. However, banknotes and deposits are generally

unsecured; if the bank gets into difficulty and pledges assets as security, to raise the funding

it needs to continue to operate, this puts the note holders and depositors in an economically

subordinated position.

5. Maturity Transformation – banks borrow more on demand debt and short term debt, but

provide more long term loans. In other words, they borrow short and lend long. With a

13

stronger credit quality than most other borrowers, banks can do this by aggregating issues

(e.g. accepting deposits and issuing banknotes) and redemptions (e.g. withdrawals and

redemptions of banknotes), maintaining reserves of cash, investing in marketable securities

that can be readily converted to cash if needed, and raising replacement funding as needed

from various sources (e.g. wholesale cash markets and securities markets).

14

CHAPTER--4

MARKETING STRATEGY

THE SERVICE MARKETING MIX OF AXIS BANK

PRODUCT

The main products of AXIS Bank are Saving Account, Current Account and Demat Account. The other products are Home loan, personal loan, Insurance, Credit cards, etc.

For better marketing of products, the products are categorized under Axis Bank and Axis Sales.

Products under Axis Bank are

Easy Access Saving Account

Saving Account for Women

Prime Saving Account

Senior Citizens Saving Account

Priority Banking

Corporate Salary Account

Trust /NGOs Saving Account

Resident Foreign Currency Account

Online Trading Account

Current Account

Term Deposits

Locker Facilities

NRI Services

Depository Services

Financial Advisory Services

Wealth Management Services

Insurance Solutions – Life and General

Retail Loans

15

Credit Loans

Travel Currency Cards

Remittance Cards

Gift Cards

Saving Account

Current Account

Forex Department

Salary Accounts

Products under Axis Sales are

Home loan

Personal loan,

Demat Account

PRICE

The price of the product depends upon the services provided by the Bank on the respective product to the customers. Detailed pricing changes from time to time and the same can be found on the website of Axis bank.

PLACE

Place plays an important role in tangibilizing service offerings. Quality of service is perceived by many customers in the form of place of delivery- locational appeal, interiors, ambience, etc. If a bank is located in a crowded market the place or location will be a negative tangibilizes. Providing excellent tangibles in the form of place or location and interiors is particularly important for appealing to the customers segment. More recently, some of the private banks in India like AXIS Bank are providing very attractive tangibles in the form of their locations, exteriors and interiors.

PROMOTION

Promotion can tangibilize services in different forms:

Visualization

16

Association

Physical representation

Documentation.

Visualization tangibilizes services through hoardings, TV and print campaigns or advertisements. Physical representation in services has a good promotional appeal to customers like use of colors to symbolize wealth and status. Service providers use documentation in their promotions in support of their claims for dependability, popularity and responsiveness

PEOPLE

People are a common factor in every service. And people tangibilize services. Good       people (means good performance) make good or successful services. Bad performers deliver bad services.

PROCESS

Customer defined business process- Process innovations and continuous improvement

through people involvement.

Result oriented approach- Each process has been designed by first planning the desired

results.

Axis Bank is constantly taking initiatives to offer the best in class service that seek to

enhance customer experience.

PHYSICAL EVIDENCE

Reduce paper usage- Due to technological innovations such as use of Finacle software for

core banking solutions.

It has positioned it self as a bank which gives higher standard of services through product

innovation.

Satisfies the diverse need of individual and corporate clients.

It is customer centric, and service oriented.

17

STP of Banks

o Segmentation: These banks consider the customer service as the base for

segmentation. These banks segment their market on the basis of the customer who give emphasis on the services and believe in using technically advance product.

o Targeting: These banks are targeting the people of the urban and sub-urban areas

who believe in higher set of product and want speedy services. o Positioning:

These banks are positioned as the technically advance and delivering higher set of customer services.

Competitive Strategy of Axis Bank

o For the private sector banks Axis bank has differentiated against these banks on the base of the maximum area

coverage. In this group some banks have no reach to the some part of the country. So Axis bank has got the advantage of reach in terms of this segment. The level of service is same in almost all banks but Axis bank has also got the advantage of the product innovation which not all the banks are doing in this group.

Competitive Strategy of Axis Bank

o For the government sector banks Axis bank has differentiated itself from this group on the base of the high level of

service quality and through product innovation. In terms of the reach Axis bank is not anyway near to these but it has created a different set of segment of the people who believe in the higher set of services.

Competitive Strategy of Axis Bank

o For the International Banks

For these types of banks Axis bank differentiated itself on the base of the reach and coverage to the people. The service level is some what same or these are providing good services than Axis bank is

18

CHAPTER--5

CORPORATE GOVERNANCE

Code of Conduct for DirectorsList of Do's and Don't's Applicable to the Directors of Private Sector Banks (As Circulated by Reserve Bank of India)The Board of Directors of Axis Bank has Adopted the same at its meeting held on 18th February, 2005Do's * Attend the Board Meetings regularly and effectively. * Study the Board papers thoroughly and use the good offices of the Chief Executive for eliciting any information at the Board meeting. * Ask the Chairman to furnish you with the Board papers and follow-up reports on a definite time schedule.* Involve yourself as Director on the Board thoroughly in the matter of formulation of general policy and also ensure that performance of the bank is monitored adequately at Board levels.* Be familiar with the broad objective of the bank and the policy laid down by the Government and the Reserve Bank.*All constructive ideas for the better management of the bank and for making valuable contribution would be welcome.* You must work as a team and not sponsor or be prejudiced against individual proposals. The management on its part is supposed to furnish full facts and complete papers in advance.* Try to give as much of your wisdom, guidance and knowledge as possible to the management.* Try to analyze the trends of economy, assist in the discharge of management's responsibility to public and formulation of measures to improve customer service and be generally of constructive assistance to the bank management.Don't's* Do not send any instruction to any individual officer of the Bank or give direction to individual officer in any matter.* Do not involve yourself in any matter relating to personnel administration - whether it is appointment, transfer, posting or a promotion or a redressal of individual grievances of any employee.* Do not interfere in the day-to-day functioning of the Bank.* Do not approach or influence for sanction of any kind of facility from an individual branch manager or any other officer.* Do not involve yourself in the routine or every day business and in the management functions.* Do not participate in the Board discussion, if a proposal in which you are directly or indirectly interested comes up for discussion. Disclose your interest will in advance to the Chief Executive.* Do not reveal any information relating to any constituent of the Bank to anyone as you are under oath of secrecy and fidelity.* Directors should not send for individual officers of the Bank or give directions to such officers on any matter.

19

* You should discourage the individual employee or unions approaching you in any matter.* You may indicate your directorship of the Bank on your visiting card/letter head, but the logos or distinctive design of the bank should not, however, be displayed on the visiting card/ letterhead.* Directors should not directly call for papers/files/notes recorded by various departments for scrutiny etc. In respect of agenda items to be discussed in the meetings, all information/ clarification that they may require for taking a decision will be made available by the executive.* Directors are expected to ensure confidentiality of the Bank's agenda papers/notes. Ordinarily, it is suggested that by way of abundant precaution, the Board papers may be returned to the Bank after the meeting.* Do not sponsor any loan proposal, building and sites for Bank's premises, enlistment or empanelment of contractors, architects, doctors, lawyers etc. Do not do anything, which will interfere with and/or be subversive of maintenance of discipline, good conduct and integrity of the staff.Code of Conduct for EmployeesThe Board of Directors of Axis Bank has adopted the same at its meeting held on 18th February,

2005

Code of Conduct Every officer shall undertake and perform his duties in such capacity and at such places

as he may be directed by the Bank.

Every officer shall maintain good conduct, discipline, punctuality and show courtesy

and attention to all persons in their transactions or dealings with the Bank.

. Every officer shall discharge his duties with utmost integrity, honesty, devotion and

diligence and do nothing which is unbecoming of him or which is likely to tarnish the

image of the Bank. Cases of fraud and dishonesty will attract penalty of dismissal.

An officer shall maintain secrecy about the affairs of the Bank and its customers and

will sign a declaration of fidelity and secrecy in the prescribed form.

No officer shall engage in any trade or business or accept employment or fee for any

work done by him outside the Bank.

No officer shall take an active part in politics and stand for election anywhere outside

the Bank.

No officer shall indulge in gambling or speculative activities in any shares, stocks,

securities, commodities or valuables. He can, however, make bonafide investment of his

own funds in such securities as he may wish to buy.

As Per SEBI (Investment Advice by Intermediaries) (Amendment) Regulations, 2001, it will be

necessary that whenever any of our employees in the course of providing investment advices,

speaks about any type of security (be it the Bank's shares or any other shares or debentures) to 20

any analyst / media or in a public forum or writes in any newspaper or other publications, he

will have to make a declaration about his own interest including long and short position in the

said security. Further, it will also be incumbent upon him to disclose the interest of his

dependent family members and of the employer (Bank) including their long and short positions

in the said security. Similarly, should an employee recommend a scrip for investment where the

Bank has an investment, the person rendering such advice will have to disclose his own

interests, his dependents' interest as also the Bank's interest.

An officer shall not enter into any personal dealings with customers or service providers

(including contractors, consultants and vendors) of the Bank which may result in undue

pecuniary advantages to the officer.

No officer shall guarantee in his private capacity the pecuniary obligations of another

person or agree to indemnify in such capacity another person from loss except with the

prior approval of the Bank.

An officer shall so manage his private affairs as to avoid insolvency or habitual or

excessive indebtedness. Issue of cheques by officers on their personal accounts without

keeping sufficient balance therein is an act of serious misconduct and will attract

stringent disciplinary action.

No officer shall indulge in sexual harassment which includes such unwelcome sexually

determined behaviour (whether directly or by implication) as : physical contact and

advances;a demand or request for sexual favours; sexually colored remarks; showing

pornography, and any other unwelcome physical, verbal or non-verbal conduct of sexual

nature.

Whether or not such conduct constitutes an offense of sexual harassment will be determined by

a Complaints Committee formed for this purpose, who would receive and deal with the

complaints lodged by the aggrieved staff.

Any violation of the code of conduct would constitute an act of misconduct for which

disciplinary action may be taken by the Bank and would be punishable under the provisions for

penalties.

Every officer on first appointment and as on 31st March each year (beginning with 31st

March, 2003), shall submit a return of assets and liabilities giving full details of:

the immovable property owned or acquired or held by the officer in his/her name or in the name 21

of any member of his / her family* or in the name of any other person;all financial securities and bank deposits including cash balances owned or acquired or held by the officer;debts and other liabilities incurred by the officer directly or indirectly, including loans from the Bank.For the purpose of this Rule "Family" means

Spouse, whether residing with the officer or not, but does not include a legally separated spouseChildren or step children or adopted children of the officer whether residing with the officer or not and dependent wholly on such officer but does not include children or step children of whose custody the officer has been deprived of by or under any law; andAny other person related to, by blood or marriage to the officer or to the officer's spouse and wholly dependent upon such officer.The Bank may also, at any time, by general or special order, require an officer to furnish within

a period to be specified in the order, a statement of moveable or immoveable property owned,

held or acquired by the officer or on the officer's behalf or by any member of the officer's family

as may be specified in the order. Such a statement shall, if so required by the Bank include the

details of the means by which or the sources from which such property was acquired.

The above statement of Asset and Liabilities should be furnished in the enclosed format on or

before 30th June every year.

Non-submission of the above annual statements by officers would constitute an act of

misconduct under the Bank's Staff Rules for which disciplinary action may be taken by the

Bank.

Officers posted in branches and zonal offices should submit the form to their respective Zonal

Heads. Zonal Heads and officers in Central Office should submit their forms to the Senior Vice

President, HR Department at Central Office.

An officer, as a general rule, shall not accept gifts or other benefits other than of

nominal value from any individual or concern having official dealings with the Bank or

from any officer junior to him/her so as to avoid any possibility of such gifts or benefits

even appearing to compromise business or official relationships. Officers must use their

discretion in being satisfied that the gifts are indeed of nominal value.

No officer shall take or give or attempt to take or give any undue assistance or use or

attempt to use any unfair methods or means in respect of any examination or test

conducted or held by the Bank or any other authority or institution.

22

An officer shall comply with all the terms and conditions in respect of any loan, advance

or other facility granted by the Bank.

No officer shall use his position or influence directly or indirectly, to secure

employment for his son, daughter or any other member of his family in any private

undertaking having official dealings with the Bank (this will include the Bank's

borrowers, contractors, consultants and vendors).

No officer shall grant on behalf of the Bank any loan or advance to himself or his

spouse, a Joint Hindu Family of which he or his spouse is a member or a partnership

with which he or his spouse is connected in any manner or a trust in which he or his

spouse is a trustee, or a private or public limited company, in which he or his spouse

hold substantial interest. ("Substantial interest" as defined in clause (ne) of Section 5 of

the Banking Regulation Act 1949).

No officer shall grant on behalf of the Bank any loan or advance to (a) a family

member; (b) an individual who is the guarantor of a family member or an individual

who is a partner in business of a family member; (c) a Joint Hindu Family in which a

family member is a member; (d) a firm in which a family member is a partner, manager

or guarantor; and (e) a company in which a family member holds substantial interest or

is interested as director manager or guarantor, without prior permission of the Bank.

Officers may not contribute the Bank's funds or assets to any political candidate, party,

charity, or similar organization, unless such contribution is expressly permitted by law/

regulation / directive and has been preapproved by the appropriate authorized

representative of the Bank.

An officer shall comply with all lawful and reasonable directions which may from time

to time be given to him by an officer under whose control he may be placed.

CODE OF CONDUCT FOR BOARD MEMBER & SENIOR MANAGEMENT

OF AXIS SECURITIES AND SALES LIMITED

The Board Members and Senior Managers shall act in the best interests of, and fulfill their fiduciary obligations to the Company.

The Board Members and Senior Managers shall act honestly, fairly, ethically and with integrity.

The Board Members and Senior Managers shall conduct themselves in a professional,

23

courteous and respectful manner and not take improper advantage of their position.

The Board Members and Senior Managers shall deal fairly with all stakeholders.

The Board Members and Senior Managers shall comply with all applicable laws, rules and regulations.

The Board Members and Senior Managers shall act in good faith, responsibly, with due care, competence and diligence, without allowing their independent judgment to be subordinated.

The Board Members and Senior Managers shall not use the Company’s property or position for personal gain.

The Board Members and Senior Managers shall not accept from or give to stakeholders, gifts or other benefits not customary in normal social interaction.

The Board Members and Senior Managers shall not use any information or opportunity received by them in their capacity as Directors or senior management in a manner that would be detrimental to the Company’s interests.

The Board Members and Senior Managers shall not use confidential information acquired in the course of their service as Directors or senior management for their personal advantage or for the advantage of any other entity.

The Board Members and Senior Managers shall help create and maintain a culture of high ethical standards and commitment to compliance.

Notes:

1. A Director or senior manager who has concerns regarding compliance with this Code should raise those concerns with the Chairman of the Board and the Chairman of the Audit Committee, who will determine what action shall be taken to deal with the concern.

2. There may be situations in which a Director would be in breach of his duty of confidentiality to another entity were he to disclose a conflict of interest to the Board of the Company. In such a situation, it shall be sufficient for the Director concerned to abstain from any participation in the matter concerned, without disclosing the nature of the conflict.

3. For this purpose “senior management” shall mean members of management one level below the executive directors and shall include all functional heads.

24

CHAPTER--6

EXPANSION PLAN

Axis Bank is looking to expand its operations and about 150-200 branches maybe opened across the country. Meanwhile, for the same reason about 4,500-5,000 employees may be hired for the financial year 2009-2010.About 300-350 people have actually been taken from tier-II and tier-III B schools and 50 freshers have been hired from the top B schools including IIMs and SP Jain. The main sectors where they are looking to hire are retail, small and medium enterprise (SME) and agriculture in particular. Increments are also expected for the financial year, but that would definitely be in line with the performance. However the exact numbers of increments and hires which will be happening in the financial year 2009-2010 will be decided in April.

Banks are now considering issue of dollar bonds to raise funds to finance their expansion plans.

Axis Bank will raise $300-500mn by issuing dollar bonds having a tenure of five and half years.

The bonds are likely to be priced about 280bps over US treasury bonds of similar maturity.

The notes have been rated ‘BBB-’ by S&P. The outlook on Axis has been revised to ‘stable’

from ‘negative,’ in line with the revision of India’s sovereign rating by S&P last week.

On 24 March, Bank of India sold 5-1/2 year, 4.75% priced dollars bonds to yield 235 basis

points more than similar maturity Treasuries, The Bank had hired Barclays Capital, Citigroup,

Deutsche Bank, HSBC and RBS for the deal.

Bank of India revived its dollar bond sale after scrapping a similar plan last month citing poor

market conditions. The issue is the lender’s fourth in US dollars and the notes are rated BBB-.

Branch & ATM Expansion

As on the quarter ended June 30, 08 the bank has 693 branches, 20 extensioncounters and 2904 ATMs most of which are concentrated in the mass affluentlocations in the metro and urban cities. It plans to open total 150 branches and450 ATMs in FY09 (42 branches and 140 ATMs already opened in Q1 FY09)

25

mainly in upcoming tier II and tier III cities where the disposable incomes are on an

upsurge.

YEAR BRANCH+EXTENTION COUNTER(Series1) ATMs(series2)

FY 3 192 822FY4 252 1224FY5 339 1599FY6 450 1891FY7 501 2341FY8 671 2764FY9 821 3214FY10E 1021 3714

FY 3 FY4 FY5 FY6 FY7 FY8 FY9 FY10E0

500

1000

1500

2000

2500

3000

3500

4000

Series1Series2

(Expansion in Branch and ATM )

TRANSACTION NOTECARD BUSINESS                The banks card business which comprises of credit cards, debit cards, pre-paid cardsand merchant acquiring business is a major contributor to the retail fee income.Ú The credit card business was launched in Aug 06 and over 486,000 cards havebeen issued till end June 08.Ú The total debit card base of the bank as on June 3th, 2008 stood at 9.98 mn,

26

the third largest in the country.

Low interest rates in the global market is the driving factor for banks to use this mode for fund

raising.

 

The 3-month and 6-month $ Libor have fallen 75% in the last one year. They are currently at

0.2878% and 0.4369%, respectively.

Another reason why dollar bonds look attractive is that the rupee is likely to appreciate against

the dollar due to increased foreign fund inflows.

According to Bloomberg, Sales of U.S. dollar-denominated bonds in Asia-Pacific total $8.9 bn

this month compared with $13 bn the same period in February and $21 bn the same period in

January,

s

CHAPTER--7

27

FINANCIAL ANALYSIS

Income Statement

31-Mar-10(12) 31-Mar-09(12) 31-Mar-08(12)

Profit/Loss A/C Rs. Mn %OI Rs. mn %OI Rs. mn %OI

  Interest Income Earned 116380.21 74.68 108354.86 78.90 70053.15 79.60

    Commission, Exchange and Brokerage Income

25651.99 16.46 21732.61 15.83 13207.03 15.01

    Lease Income 0.00 0.00 20.65 0.02 34.70 0.04

    Dividend Income 1.42 0.00 0.00 0.00 0.00 0.00

    Miscellaneous Income 13804.41 8.86 7215.52 5.25 4713.15 5.36

  Other Income 39457.82 25.32 28968.78 21.10 17954.89 20.40

Total Income (OI) 155838.03 100.00 137323.64 100.00 88008.04 100.00

  Interest Expenditure 66335.26 42.57 71492.74 52.06 44199.62 50.22

  Employee Expenditure 12558.22 8.06 9976.63 7.27 6702.49 7.62

  Depreciation 23432.22 15.04 1886.66 1.37 1581.14 1.80

  Other Operating Expenditure 22195.79 14.24 16718.84 12.17 13265.64 15.07

  Provision and Contingencies 27260.22 17.49 9393.98 6.84 5796.36 6.59

Total Expenditure 151781.70 97.40 109468.85 79.72 71545.25 81.29

Pretax Income 4056.33 2.60 27854.79 20.28 16462.79 18.71

  Tax 0.00 0.00 9701.20 7.06 5752.50 6.54

  Extra Ordinary and Prior Period Items Net

0 0.00 0 0.00 0 0.00

Net Profit 4056.33 2.60 18153.58 13.22 10710.29 12.17

28

Adjusted Net Profit 4056.33 2.60 18153.58 13.22 10710.29 12.17

Dividend – Preference 0.00 0.00 0.00 0.00 0.00 0.00

Dividend - Equity 5674.49 3.64 4205.16 3.06 2516.38 2.86

Balance Sheet

31-Mar-10 %BT 31-Mar-09 %BT 31-Mar-08 %BT

  Equity Capital 4051.74 0.22 3590.05 0.24 3577.10 0.33

  Preference Capital 0.00 0.00 0.00 0.00 0.00 0.00

Share Capital 4051.74 0.22 3590.05 0.24 3577.10 0.33

Reserves and Surplus 156392.75 8.66 98545.84 6.67 84107.94 7.68

Deposits 1413002.18 78.22 1173741.05 79.46 876262.21 79.97

Borrowings 171695.51 9.50 155198.71 10.51 56240.40 5.13

Other Provisions and Liabilities 61334.61 3.40 46132.73 3.12 75568.97 6.90

Capital and Liabilities (BT) 1806478.52 100.00 1477220.49 100.00 1095778.49 100.00

Fixed Assets 12224.20 0.68 10728.87 0.73 9228.50 0.84

Investments 559748.16 30.99 463303.51 31.36 337051.01 30.76

Advances 1043431.19 57.76 815567.66 55.21 596611.45 54.45

Cash & Money at Call 152064.39 8.42 150168.96 10.17 125042.40 11.41

Other Current Assets 39010.59 2.16 37451.49 2.54 27845.13 2.54

Properties and Assets (BT) 1806478.52 100.00 1477220.49 100.00 1095778.49 100.00

Ratio Analysis

29

As on 31-Mar-10 31-Mar-09 31-Mar-08

Profitablility

Interest Income/Total Income (%) 74.70 78.90 79.60

Non Interest Income/Total Income (%) 25.30 21.10 20.40

Reported Net Profit/Total Income (%) 2.60 13.20 12.20

Net Interest Income/Total Income (%) 32.10 26.80 29.40

Net Interest Margin (%) 4.80 4.50 4.30

Return Related

ROE (%) 2.50 17.80 12.20

ROA (%) 0.20 1.20 1.00

Leverage & Capital Measures

Customer loans/deposits (%) 73.80 69.50 68.10

Investments/Deposits (%) 39.60 39.50 38.50

Total Liabilities/Networth 11.30 14.50 12.50

Growth (%)

Growth in Interest Income 7.41 54.68 57.01

Growth in Interest Expenses -- 61.75 47.66

Growth in Employee cost 25.88 48.85 75.76

Growth in PAT -- 69.50 62.52

Growth in Deposits 20.38 33.95 49.06

Growth in Borrowings 10.63 81.11 8.25

30

Per Share

Book Value Per Share (Rs) 396.00 284.50 245.10

Earnings Per Share (Rs) 10.00 50.60 29.90

Dividend Per Share (Rs) 14.00 11.70 7.00

CHAPTER--8

SHARE ANALYSIS

31

Price Range

Average Daily Price Range (3 Day Period) 41.42 Daily Price Range % 2.84

Average Daily Price Range (5 Day Period) 40.52 Daily Price Range % 2.78

Average Daily Price Range (10 Day Period) 49.68 Daily Price Range % 3.36

Average Daily Price Range (15 Day Period) 46.51 Daily Price Range % 3.10

Average Daily Price Range (30 Day Period) 46.00 Daily Price Range % 3.08

Average Daily Price Range (50 Day Period) 42.97 Daily Price Range % 3.04

Average Weekly Price Range(5 week period) 94.84 Weekly Price Range % 6.45

Average Weekly Price Range(10 week period) 108.86 Weekly Price Range % 8.07

Average Weekly Price Range(20 week period) 85.06 Weekly Price Range % 6.47

Average Weekly Price Range(50 week period) 82.13 Weekly Price Range % 7.14

Average Monthly Price Range(3 Months Period) 243.80 Monthly Price Range % 19.71

Average Monthly Price Range(6 Months Period) 185.26 Monthly Price Range % 15.11

Average Monthly Price Range(9 Months Period) 170.89 Monthly Price Range % 14.25

Average Monthly Price Range(12 Months Period) 169.63 Monthly Price Range % 14.60

Daily Share Price Range of Axis Bank Ltd.

Date High Low Close Price Price Range Price Range %

25/10/2010 1490.0 1460.0 1464.55 30.00 2.05

22/10/2010 1513.85 1461.0 1464.00 52.85 3.62

32

21/10/2010 1513.25 1460.0 1506.30 53.25 3.65

20/10/2010 1477.0 1451.0 1455.20 26.00 1.79

19/10/2010 1497.3 1462.05 1468.50 35.25 2.41

18/10/2010 1499.0 1427.0 1481.95 72.00 5.05

15/10/2010 1575.0 1496.1 1502.05 78.90 5.27

14/10/2010 1608.5 1557.25 1563.90 51.25 3.29

13/10/2010 1594.65 1547.05 1588.75 47.60 3.08

12/10/2010 1565.9 1525.1 1543.20 40.80 2.68

11/10/2010 1605.5 1538.15 1550.85 67.35 4.38

Weekly Share Price Range of Axis Bank Ltd.

Start Date End Date High Low Close Price Price Range Price Range %

18/10/2010 22/10/2010 1513.85 1427.0 1464.00 86.85 6.09

11/10/2010 15/10/2010 1608.5 1496.1 1502.05 112.40 7.51

04/10/2010 08/10/2010 1598.7 1552.4 1570.35 46.30 2.98

27/09/2010 01/10/2010 1584.0 1450.2 1574.85 133.80 9.23

20/09/2010 24/09/2010 1582.55 1475.4 1506.85 107.15 7.26

13/09/2010 17/09/2010 1523.0 1386.0 1506.50 137.00 9.88

06/09/2010 09/09/2010 1406.4 1367.3 1379.40 39.10 2.86

30/08/2010 03/09/2010 1400.0 1150.0 1379.65 250.00 21.74

33

23/08/2010 27/08/2010 1385.7 1318.6 1326.95 67.10 5.09

16/08/2010 20/08/2010 1375.0 1320.0 1367.00 55.00 4.17

09/08/2010 13/08/2010 1336.0 1274.85 1328.20 61.15 4.80

Monthly Share Price Range of Axis Bank Ltd.

Start Date End Date High Low Close Price Price Range Price Range %

01/09/2010 30/09/2010 1582.55 1330.65 1536.60 251.90 18.93

02/08/2010 31/08/2010 1385.7 1150.0 1330.65 235.70 20.50

02/07/2010 30/07/2010 1396.75 1225.45 1343.45 171.30 13.98

01/07/2010 30/07/2010 1396.75 1215.05 1343.45 181.70 14.95

03/06/2010 30/06/2010 1277.65 1191.95 1242.40 85.70 7.19

01/06/2010 30/06/2010 1277.65 1168.5 1242.40 109.15 9.34

03/05/2010 31/05/2010 1320.0 1147.15 1232.35 172.85 15.07

05/04/2010 30/04/2010 1287.0 1128.2 1270.00 158.80 14.08

01/04/2010 30/04/2010 1287.0 1128.2 1270.00 158.80 14.08

04/03/2010 31/03/2010 1215.0 1045.0 1168.25 170.00 16.27

02/03/2010 31/03/2010 1215.0 1045.0 1168.25 170.00 16.27

CHAPTER--9

ACHIEVEMENTS

Mar-08 Axis Bank launches Platinum Credit Card, India's first EMV chip based card

34

Dec-07 Axis Bank gets AAA National Long-Term Rating from Fitch Ratings

Sept-07 Axis Bank ties up with Banque Privée Edmond de Rothschild Europe for

Wealth Management

July-07 UTI Bank re-brands itself as Axis Bank

July-07 UTI Bank successfully raises USD 1050 million

July-07 UTI Bank ties up with Tata Motors Ltd. for Car Loans

June-07 UTI Bank's expansion into Asia supported by FRS

May-07 UTI Bank launches 'Spice Rewards' on the bankcards - India's first-ever

merchant-supported rewards program

April-07 UTI Bank opens a Financial Services Category I Branch in the DIFC in Dubai

Mar-07 UTI Bank ties up with Hyundai Motor India Ltd. for Car Loans

Mar-07 UTI Bank ties up with IIFCL to provide finance for infrastructural projects in

the country

Mar-07 UTI Bank launches Car Loans in association with Maruti Udyog Ltd

Mar-07 UTI Bank opens a Full License Bank Branch in Hong Kong

Feb-07 Finance Minister Shri P. Chidambaram Launches Shriram - UTI Bank Co -

Branded Credit Card Exclusively For Small Road Transport Operators

(SRTOS)

Feb-07 UTI Bank announces the launch of its Meal Card

Feb-07 UTI Bank announces the launch of its Gift Card

Feb-07 LIC Premium payment now through UTI Bank Branches

Jan-07 UTI bank opens Priority Banking branch in Mumbai and Kolkata

Nov-06 UTI Bank opens Priority Banking Lounge in Pune

35

Sep-06 UTI Bank launches operations of UBL Sales, its Sales Subsidiary -

Inaugurates its first office in Bangalore

Aug-06 UTI Bank announces the launch of its Credit Card Business

Aug-06 UTI Bank becomes the first Indian Bank to successfully issue Foreign

Currency Hybrid Capital in the International Market

Aug-06 UTI Bank Business Gold Debit Card MasterCard Launched - Designed for

business related spending by SMEs and self employed professionals

Aug-06 UTI Bank announces the scheme of issuance of "Senior Citizen ID Card" in

association with Dignity Foundation

Aug-06 UTI Bank rolls out its 2000th ATM

July-06 UTI Bank opens Representative Office in Shanghai

May-06 UTI Bank and LIC join hands to launch an Annuity Card for group

pensioners of LIC

May-06 UTI Bank ties up with Geojit Financial Services to offer Online Trading

service to its customers

Apr-06 UTI Bank opens its first international branch in Singapore

Jan-06 UTI Bank and UTI Mutual Fund to launch a new service for sale and

redemption of mutual fund schemes through the Bank's ATMs across the

country

Dec-05 UTI Bank wins International Financing Review (IFR) Asia 'India Bond

House' award for the year 2005

Oct-05 UTI Bank extends banking services to the rural milk producers in Anand and

Kheda districts in Gujarat

July-05 UTI Bank and Visa International launch Mobile Refill facility - Anytime,

Anywhere Pre-Paid Mobile Refill for all Visa Cardholders in India

36

May-05 UTI Bank and Bajaj Allianz join hands to distribute general insurance

products

Apr-05 UTI Bank launches Smart Privilege - a special bank account designed for

women

Mar-05 MTNL ties up with UTI Bank for payment of telephone bills through the

Bank's ATM network

Mar-05 UTI Bank gets listed on the London Stock Exchange, raises US$ 239.30

million through Global

Mar-05 Depositary Receipts (GDRs)

Feb-05 UTI Bank appointed by Government of Karnataka as the sole banker for the

Bangalore One (B1) project

Feb-05 UTI Bank launches a powerful version of Kisan Credit Card

Jan-05 UTI Bank ties up with Remit2India to launch the Remittance Card

Mar-04 UTI Bank enables premium payment of LIC policies through its ATMs.

Feb-04 Bilateral arrangement between State Bank of India (and its 7 associate

member banks) and UTI Bank. comes into force with the commencement of

operations (as on 3rd February '04) of the combined network of over 4000

ATMs

Feb-04 UTI Bank (by pursuing a proactive strategy of forging bilateral agreements

and being a progressive player in the multi-lateral consortiums for shared

ATM network) offers its customers access to over 7000 ATMs across the

country - the largest to be offered by any bank in India so far.

Dec-03 Bank inaugurated its ATM at Thegu near the Nathula Pass in Sikkim. This

ATM is at the highest altitude in India.

Sep-03 The Bank's ATMs across the country crosses the thousand mark

37

Sep-03 Bank launches the Travel Currency Card.

Aug-03 The Bank's Debit Card crosses the one million mark.

Aug-03 Total Advances cross Rs 7,000 Crore.

May-03 Bank declares a net profit of Rs 192.18 crores for FY03, a growth of 43%

over the previous year

Mar-03 Bank signs Agreement with Employees Provident Fund Organization (EPFO)

for disbursement of Pension

Mar-03 Bank crosses the 800 ATM mark

Mar-03 The Bank issues 3,83,62,834 fully paid up equity shares totaling to Rs. 164.00

crores, through a

Mar-03 Preferential offer to Life Insurance Corporation of India (now constituting

13.54% of

Mar-03 the Bank's expanded equity), Citicorp Banking Corporation, Bahrain (holding

3.84%), Chris Capital I,

Mar-03 LLC, Mauritius (holding 3.84%) and Karur Vysya Bank Ltd.(constituting

1.00%) The Bank also

Mar-03 Increases the authorized share capital of the Bank from Rs. 230 crores to Rs.

300 crores.

Feb-03 Bank, in a pioneering move, launches the AT PAR Cheque facility, free of

cost, for all its Savings Bank customers.

Feb-03 Bank wins mandate to set up 14 ATMs at the Western Railway stations along

the Mumbai division.

Oct-02 Bank launches Corporate iConnect? - the Internet Banking facility for

Corporate

Aug-02 Bank signs MoU with BSNL regarding bill collection services across the

38

country through both online and offline channels.

Apr-02 Bank opens its 500th ATM

Mar-02 Deposits Cross Rs.12, 000 Crore

Jan-02 The Bank's 100th branch opens at Tuticorin, Tamilnadu

Jan-02 The Bank opens an ATM at the Gol Dak-Khana, i.e. the New Delhi GPO,

making it the first instance of a commercial bank setting up an ATM at any

post-office in the country.

Dec-01 Total Advances cross Rs 5,000 Crore

Nov-01 The deposit base for the Bank crosses Rs. 10,000 Crore

Sep-01 Private placement of 26% stake in the Bank to CDC Capital Partners. UTI

holding reduces to 44.88%

Aug-01 Bank signs MoU with India Post for introducing value added financial

products and services to customers of both organizations, including setting up

of UTI Bank ATMs in post offices.

July-01 Bank ties up with Govt of Andhra Pradesh for collection of commercial tax

Dec-00 Bank opens its 200th ATM. It becomes the 2nd largest ATM network in the

country, a position held even today.

Oct-00 Bank becomes fully networked

July-00 E-commerce initiatives announced

July-00 Financial Advisory Services offered beginning with marketing of US 64

Apr-00 UTI Bank calls off its proposed merger with Global Trust Bank and surges

ahead on its own.

Apr-00 Bank launches its Internet banking module, iConnect Retail loans introduced

for the first time by the Bank

39

Mar-00 Profits cross Rs 50 crore mark for the first time.

Feb-00 Bank adopts Finacle software from Infosys for core banking

Jan-00 Dr.P.J Nayak takes over as Chairman and Managing Director from Shri

Supriya Gupta.

Sep-99 Cash management services (CMS) launched, Co branded credit card launched

Mar-99 Deposits cross Rs.3000 crores

Sep-98 UTI Bank goes public with a Rs. 71 crore public issue; Issue over-subscribed

1.2 times, over 1 lakh retail investors. UTI holding reduces to 60.85%

Jun-96 Crosses Rs.1000 crore deposit mark

Mar-95 Completes first profitable year in operation

Apr-94 First branch of UTI Bank inaugurated at Ahmedabad by Dr. Manmohan

Singh, Hon'ble Finance Minister, Government of India.

Dec-93 UTI Bank comes into being

Dec-93 Registered office at Ahmedabad; Head office at Mumbai

CHAPTER--10

COMPETITORS

1. ICICI Bank Ltd.

2. HDFC Bank Ltd.

3. State Bank of India

4. HSBC Bank

5. RBS (Royal Bank of Scotland)

6. Maharashtra Bank of India

40

7. Canara Bank

8. Andhra Bank

9. IDBI bank

10. Bank of India

11. Punjab National Bank

12. Central Bank

13. Allahabad Bank

14. ING Vysya

15. Centurion Bank

16. Bank of Baroda

17. Syndicate Bank

18. Oriental Bank of India

19. Vijya Bank

CHAPTER—11

BIBLIOGRAPHY

The following books and websites have been consulted for the preparation of this project.

Books:

Philip Kotler’s Marketing Management. Twelfth edition

41

Journal:Business & Economics(September/october)

Web sites www.google.co.in+axis bank www.axisbank.com www.slidworld.com

42