1

TERM PAPER
OF
FINANCIAL
MANAGEMENT

TOPIC: AXIS BANK (UTI BANK)

SUBMITTED TO: - SUBMITTED BY:-

MS.KAWALPREET KAUR VISHAL PATYAL

ROLL NO. 03

CLASS:-BT MT CSE

SECTION- C

REG. NO:-3050060122
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Acknowledgements:-
First of all I would like to express my sincere
gratitude to the almighty for encouraging me to
complete this term paper. The following are
some important people in my life who gave me
strength and valuable suggestions to complete
the task.
First, my parents, friends, whose love and
affection give me strength and encouragement
to face challenges of life.
Second, my mam Kawalpreet kaur, whose
inspiration, motivation spiritual guidance
always keeps me in the right path and keeps my
faith in God almighty without whose blessings
nothing is possible.
Finally, thanks for the Lovely Professional
University which gave me great opportunity to
make the term paper.
 3

Table of contents: -
BACKGROUND OF AXIS BANK: -
Branch Network

Resilient fundamentals
Risk and earnings perspective
History of axis bank: -

Management of Axis bank: -

Capital structure of axis bank

Dividend policy for Axis Bank: -

Liquidity position: -

Financial credibility through balance sheet: -

Profit and loss account: -

Track and report news releavant to company:-

Few milestones of Axis bank: -

Share capital of Axis Bank

 4

BACKGROUND OF AXIS BANK: -

ABOUT AXIS BANK
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. 358.89 crores with the public
holding (other than promoters) at 57.58%.

The Bank's Registered Office is at Ahmedabad and its Central Office is located at
Mumbai. Presently, the Bank has a very wide network of more than 729 branch
offices and Extension Counters. The Bank has a network of over 3082 ATMs
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.
 5

Axis Bank, previously called UTI 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), General Insurance Corporation Ltd., National
Insurance Company Ltd., The New India Assurance Company, The Oriental
Insurance Corporation and United Insurance Company Ltd. UTI-I holds a special
position in the Indian capital markets and has promoted many leading financial
institutions in the country.P J Nayak is its Chairman and Managing Director.
As on the year ended March 31, 2006 the Bank had a networth of Rs. 2872.19
crores with the public holding (other than promoters) at 56.65%. Net Profit for the
year was up 44.98% to Rs 485.08 crores.
Branch Network
At the end of April 2008,the Bank has a very wide network of more than 729
branch offices and Extension Counters. The Bank has a network of over 3802
ATMs. The Bank's Registered Office is at Ahmedabad and its Central Office is
located at Mumbai.
Resilient fundamentals
Axis Bank stands apart from its private sector competitors — ICICI
Bank and HDFC Bank — in one crucial respect. While the other two banks have
envisaged retail banking as a key area of strategic emphasis — with the share of
the retail business (both on the funding and asset sides) growing strongly year after
year— the share of retail business, particularly retail assets, has actually come
down quite sharply in the case of Axis Bank.
The numbers here are quite interesting. For ICICI Bank, retail loans now (as of
June 2007) account for as much as 70 per cent of the bank’s total loan book of Rs
2,00,000 crore. For HDFC Bank, retail assets are around 57 per cent (Rs 28,000
crore) of the total loans as of March 2007.
In the case of Axis Bank, retail loans have declined from 30 per cent of the total
loan book of Rs 25,800 crore in June 2006 to around 23 per cent of loan book of
Rs.41,280 crore (as of June 2007). Even over a longer period, while the overall
asset growth for Axis Bank has been quite high and has matched that of the other
banks, retail exposures grew at a slower pace.
 6

If the sharp decline in the retail asset book in the past year in the case of Axis Bank
is part of a deliberate business strategy, this could have significant implications
(not necessarily negative) for the overall future profitability of the business.
Despite the relatively slower growth of the retail book over a period of time and
the outright decline seen in the past year, the bank’s fundamentals are quite
resilient. With the high level of mid-corporate and wholesale corporate lending the
bank has been doing, one would have expected the net interest margins to have
been under greater pressure. The bank, though, appears to have insulated such
pressures. Interest margins, while they have declined from the 3.15 per cent seen in
2003-04, are still hovering close to the 3 per cent mark. (The comparable margins
for ICICI Bank and HDFC Bank are around 2.60 per cent and 4 per cent
respectively. The margins for ICICI Bank are lower despite its much larger share
of the higher margin retail business, since funding costs also are higher).
Risk and earnings perspective
Such strong emphasis and focus on lending also does not appear to have had any
deleterious impact on the overall asset quality. The bank’s non-performing loans
are even now, after five years of extremely rapid asset build-up, below 1 per cent
of its total loans.
From a medium-term perspective, it appears that Axis Bank could be charting out
a niche for itself in the private bank space. It appears to be following a business
strategy quite different from the high-volume and commodity-style approach of
ICICI Bank and HDFC Bank. That strategy also has its pluses in terms of the
relatively higher margins in some segments of the retail business and the in-built
credit risk diversification (and mitigation) achieved through a widely dispersed
retail credit portfolio. But, as indicated above, Axis Bank has been to able to
maintain the quality of its loan portfolio despite the concentrated nature of
wholesale corporate lending.
History of axis bank: -

- 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
 7

and its four subsidiaries.

- The bank was the first private sector bank to get a license under the new guidelines issued b
the RBI.1997
- The Bank obtained license to act as Depository Participant with NSDL and applied fo
registration with SEBI to act as `Trustee to Debenture Holders'.
- Rupees 100 crores was contributed by UTI, the rest from LIC Rs 7.5 crores, GIC and its fou
subsidiaries Rs 1.5 crores each. 1998
- The Bank has 28 branches in urban and semi urban areas as on 31st
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 preferencial 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
are 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 `connect', 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.
 8

- 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.
- Indiabulls has 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 og UTI Bank's Rs 500-crore
Certificate of deposit programmed to A1+.
- UTI 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 raise up to Rs 75 crore.
- 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 centat
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, former
Chairman 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 ceases 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
 9

Chairman and Managing Director of Punjab Tractors Ltd was 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 ATMs.
-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. 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 opeaned 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 upto 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.
 10

-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, Nminee 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 farming

Management of Axis bank: -

Name Designation

P J Nayak Chairman & CEO

N C Singhal Director

J R Varma Director

Rama Bijapurkar Director

M V Subbiah Director

K N Prithviraj Director

Name Designation

Surendra Singh Director

A T Pannir Selvam Director

R H Patil Director

R B L Vaish Director
 11

Ramesh Ramanathan

Capital structure of axis bank (R

Class OfAuthorized Issued Paid UpPaid UpPaid
From To Year
Share Capital Capital Shares (Nos) Face Value Capit
Year
2007 2008 Equity Share 500.00 357.71 357709669 10 357.71
2006 2007 Equity Share 300.00 281.63 281630787 10 281.63
2005 2006 Equity Share 300.00 278.69 278690727 10 278.69
2004 2005 Equity Share 300.00 273.80 273796444 10 273.80
2003 2004 Equity Share 300.00 231.58 231580570 10 231.58
2002 2003 Equity Share 300.00 230.19 230185579 10 230.19
2001 2002 Equity Share 230.00 191.81 191812870 10 191.81
2000 2001 Equity Share 230.00 131.90 131903170 10 131.90
1998 2000 Equity Share 230.00 131.90 131903170 10 131.90
1997 1998 Equity Share 300.00 115.00 115000070 10 115.00
1994 1995 Equity Share 300.00 115.00 115000070 10 115.00

Dividend policy for Axis Bank: -

We undertake Bulk dividend and interest payment of corporate houses through an

At Par facility. A central account, maintained by you with our Bank, needs to be
funded and we would ensure that the dividend/interest warrant presented at any
Axis Bank location is cleared under respective local clearing. A validation process
ensures that each warrant is paid after matching with the issue file and thereby
avoids fraudulent payment.

dividend
Year
Month Dividend (%)
2008 Apr 60
2007 Apr 45
2006 Apr 35
2005 Apr 28
2004 Apr 25
2003 May 22
2002 May 20
2001 May 15
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2000 May 12
1999 May 10

Liquidity position: -

Investment Dictionary: Liquidity

1. The degree to which an asset or security can be bought or sold in the market
without affecting the asset's price. Liquidity is characterized by a high level of
trading activity.

2. The ability to convert an asset to cash quickly. Also known as "marketability".

Investopedia Says:
1. It is safer to invest in liquid assets than illiquid ones because it is easier for you
to get your money out of the investment.

2. Examples of assets that are easily converted into cash include blue chip and
money market securities.

Banking Dictionary: liquidity

1. Ability of an organization to meet its current financial obligations. In banking,

adequate liquidity means being able to meet the needs of depositors wanting to
withdraw funds and borrowers wanting to be assured that their credit or cash needs
will be met. Liquidity is also measured in terms of debt capacity or borrowing
capacity to meet short-term demands for funds. See also Liquidity Ratios.

2. Quality of an asset that is readily convertible into cash, with minimal loss in
value. Short-term securities, such as Treasury bills that are easily sold to other
investors at relatively narrow spreads between bid and asked quotes, and in
reasonably large trading volumes, are said to be highly liquid.

3. Characteristic of a market where a large amount of securities, futures contracts,

and so on, can easily be traded with minimal price distortions occurring. Strong
markets are characterized by stable prices and relatively narrow bid-asked spreads.
Thin markets have wide spreads and extreme trading volatility.

Real Estate Dictionary: Liquidity

 13

Ease of converting Assets to cash. Contrast with Illiquidity.

Examples: Common stocks and U.S. Savings bonds have good liquidity. Real
Estate and many types of collectibles generally have poor liquidity.

Answer Note: liquidity

This sales term refers to the volume of transactions. With sufficient buyers and
sellers, a market enjoys continuous offers, bidding, and consummated transactions,
thus achieving market liquidity.

Economics Dictionary: Liquidity

The condition of having enough money on hand to meet financial obligations

without having to sell fixed assets, such as machinery or equipment.

Financial credibility through balance sheet: -

Balance sheet (R
Mar ' 08 Mar ' 07 Mar ' 06 Mar ' 05 Mar
Sources of funds
Owner's fund
 14

Equity share capital 357.71 281.63 278.69 273.80 231.5

Share application money 2.19 8.98 13.44 13.42 1.63
Preference share capital - - - - -
Reserves & surplus 8,410.79 3,111.60 2,593.50 2,134.39 904.8
Loan funds
Secured loans - - - - -
Unsecured loans 87,626.22 58,785.60 40,113.53 31,712.00 20,95
Total 96,396.91 62,187.81 42,999.16 34,133.60 22,09
Uses of funds
Fixed assets
Gross block 1,384.70 1,098.93 898.68 764.78 593.5
Less : revaluation reserve - - - - -
Less : accumulated depreciation 590.33 450.55 345.33 261.98 184.6
Net block 794.37 648.38 553.34 502.80 408.9
Capital work-in-progress 128.48 24.82 14.37 15.64 26.22
Investments 33,705.10 26,897.16 21,527.35 14,274.95 7,792
Net current assets
Current assets, loans & advances 2,784.51 1,892.07 1,679.98 2,071.38 896.1
Less : current liabilities & provisions 7,556.90 5,873.80 4,051.03 1,828.68 1,530
Total net current assets -4,772.38 -3,981.73 -2,371.05 242.70 -634.
Miscellaneous expenses not written - - - - -
Total 29,855.57 23,588.62 19,724.02 15,036.08 7,593
Notes:
Book value of unquoted investments - - - - -
Market value of quoted investments - - - - -
Contingent liabilities 94,598.40 67,744.86 45,043.14 23,441.83 16,80
Number of equity sharesoutstanding
3577.10 2816.31 2786.91 2737.96 2315
(Lacs)

Profit and loss account: -

------------------- in Rs. Cr. -------------------

 15

Profit & Loss account

Mar '04 Mar '05 Mar '06 Mar '07 Mar '08

12 mths 12 mths 12 mths 12 mths 12 mths

Income
Interest Earned 1,586.71 1,924.16 2,888.79 4,560.40 7,005.32
Other Income 532.96 403.51 713.71 986.49 1,750.59
Total Income 2,119.67 2,327.67 3,602.50 5,546.89 8,755.91
Expenditure
Interest expended 1,021.45 1,192.98 1,810.56 2,993.32 4,419.96
Employee Cost 121.25 176.85 240.20 381.35 670.25
Selling and Admin Expenses 396.88 207.10 406.12 589.31 952.61
Depreciation 61.89 81.58 92.19 111.86 158.11
Miscellaneous Expenses 246.81 345.38 568.35 812.03 1,483.94
Preoperative Exp Capitalized 0.00 0.00 0.00 0.00 0.00
Operating Expenses 662.76 572.11 925.19 1,387.06 2,454.03
Provisions & Contingencies 164.07 238.80 381.67 507.49 810.88
Total Expenses 1,848.28 2,003.89 3,117.42 4,887.87 7,684.87
Mar '04 Mar '05 Mar '06 Mar '07 Mar '08

12 mths 12 mths 12 mths 12 mths 12 mths

Net Profit for the Year 271.38 323.78 485.08 659.03 1,071.03
Extraordionary Items 6.93 10.80 0.00 -31.80 0.00
Profit brought forward 122.47 182.10 197.41 731.04 1,029.07
Total 400.78 516.68 682.49 1,358.27 2,100.10
Preference Dividend 0.00 0.00 0.00 0.00 0.00
Equity Dividend 65.31 87.75 112.55 148.79 251.64
Corporate Dividend Tax 0.00 0.00 0.00 0.00 0.00
Per share data (annualised)
Earning Per Share (Rs) 11.72 11.83 17.41 23.40 29.94
Equity Dividend (%) 25.00 28.00 35.00 45.00 60.00
Book Value (Rs) 49.07 87.96 103.06 120.49 245.13
Appropriations
 16

Transfer to Statutory Reserves 153.36 231.52 -161.10 180.40 294.60

Transfer to Other Reserves 0.01 0.00 0.00 0.00 -0.01
Proposed Dividend/Transfer to
65.31 87.75 112.55 148.79 251.64
Govt
Balance c/f to Balance Sheet 182.10 197.41 731.04 1,029.07 1,553.87
Total 400.78 516.68 682.49 1,358.26 2,100.10

(R
Profit loss account
Mar ' 08 Mar ' 07 Mar ' 06 Mar ' 05 Mar ' 0
Income:
Operating income 8,750.68 5,461.60 3,594.46 2,299.23 2,115.5
Expenses
Material consumed - - - - -
Manufacturing expenses - - - - -
Personnel expenses 670.25 381.35 240.20 176.85 121.25
Selling expenses 74.41 29.62 17.05 11.47 10.81
Administrative expenses 1,551.27 864.23 575.74 302.21 468.82
Expenses capitalized - - - - -
Cost of sales 2,295.92 1,275.19 833.00 490.53 600.88
Operating profit 2,034.80 1,193.09 950.90 615.71 493.20
Other recurring income 13.86 21.24 6.34 34.52 1.44
Adjusted PBDIT 2,048.66 1,214.32 957.24 650.24 494.64
Financial expenses 4,419.96 2,993.32 1,810.56 1,192.98 1,021.4
Depreciation 158.11 111.86 92.19 81.58 61.89
Other write offs - - - - -
Adjusted PBT 1,890.54 1,102.46 865.05 568.66 432.75
Tax charges 734.86 418.82 246.35 180.03 177.52
 17

Adjusted PAT 1,086.21 661.94 486.78 326.17 272.88

Nonrecurring items -15.18 -2.91 -1.70 -2.39 -1.49
Other non cash adjustments - -31.80 - 10.80 6.93
Reported net profit 1,071.03 627.23 485.08 334.58 278.31
Earnings before appropriation 2,100.10 1,358.26 682.49 516.68 400.78
Equity dividend 251.64 148.79 112.55 87.75 65.31
Preference dividend - - - - -
Dividend tax - - - - -
Retained earnings 1,848.47 1,209.47 569.94 428.93 335.47

Tr ack and r epor t news releavant to company:-

Axis Bank India, the first bank to begin operations as new private banks in 1994
after the Government of India allowed new private banks to be established. Axis
Bank was jointly promoted 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 Ltd. Also with associates viz. National Insurance
Company Ltd., The New India Assurance Company, The Oriental Insurance
Corporation and United Insurance Company Ltd.

Axis Bank in India today is capitalized with Rs.

282.65 Crores with 57.05% public holding other
than promoters. It has more than 574 branch offices
and Extension Counters in the country with over
2428 Axis Bank ATM proving to be one of the largest ATM networks in the
country. It commits to adopt the best industry practices internationally to achieve
excellence. It has strengths in retail as well as corporate banking..

By the end of June 2007, Axis Bank in India had over 60 lakhs debit cards. This is
the first bank in India to offer the AT PAR Cheque facility, without any charges, to
all its Savings Bank customers in all the places across the country where it has
presence.
 18

With the AT PAR cheque facility, customers can make cheque payments to any
beneficiary at any of its existence place. The ceiling per instrument is Rs. 50,000/-

The latest offerings of the bank are the Australian Dollar and Canadian Dollar
variants of the international Travel Currency Card along with the US Dollar, Euro
and Pound Sterling variants. The Travel Currency Card is a signature based pre-
paid travel card which enables traveler’s global access to their money in local
currency of the visiting country in a safe and convenient way. Along with this the
bank has also launched the credit cards in silver and gold variants which can be
accessed in 60 cities across the country.

The bank has also raised its reach to 341 cities, towns and villages. The bank has
the outstanding deposit base of more than Rs. 61,000 crores with over 65 lakh
accounts.

Few milestones of Axis bank: -

Mar '07 : Axis Bank joins hands with IIFCL to provide leverage for infrastructural
projects in the country.
Mar '07 : AXIS Bank comes up with full license bank branch in Hong Kong.
Feb '07 : Finance minister Shri P. Chidambaram introduces Shriram – AXIS Bank
Co - Branded Credit Card especially for Small Road Transport Operators
(SRTOS).
AXIS Bank holds the position of being the first Indian Bank to
Aug'06 : successfully issue Foreign Currency Hybrid Capital in the International
Market.
Aug '06 : AXIS Bank launches the beneficial scheme of issuance of "Senior
Citizen ID Card" in collaboration with Dignity Foundation.
Dec '05 : AXIS Bank adds International Financing Review (IFR) Asia 'India Bond
House' award for the year 2005 in its appreciation record.
Jul '05 : AXIS Bank and Visa International launch Mobile Refill facility -
Anytime, Anywhere Pre-Paid Mobile Refill for all Visa Cardholders in
India.
Mar '05 : AXIS Bank gets counted on the London Stock Exchane, raises US$
239.30 million through Global.
 19

Share capital of Axis Bank

• Authorised Share Capital :Rs. 300 Crores
• Paid Up Share Capital : Rs. 232.86 Crores

Shareholding pattern of Axis Bank: -

As on 10/10/2008
Sr. Name of the Shareholders No. of %
No. Shares Held Stake to
Total

A. Promoter Shareholding

1. Administrator of the Specified Undertaking of 9,72,24,373 27.09

the Unit Trust of India -UTI - I (SUUTI)

2. Life Insurance Corporation of India 3,71,95,831 10.36

3. General Insurance Corporation of India 81,23,331 2.26

4. The New India Assurance Company Limited 38,06,443 1.06

5. National Insurance Company Limited 27,18,740 0.76

6. United India Insurance Company Limited 15,76,415 0.44

7. The Oriental Insurance Company Limited 15,39,118 0.43

Total Promoter Shareholding – A 15,21,84,251 42.40

B. Non-Promoter Holding

8. Indian Financial Institutions (IFIs) 40,21,519 1.12

9. Mutual Funds 3,35,18,670 9.34

10. Others (Individuals/Corporate 4,37,82,281 12.20

Bodies/HUF/Trusts/Banks)

Total Non-Promoter Indian Shareholding – B 8,13,22,470 22.66

C. Foreign Shareholding

11. FDI Route - GDRs Issue (2005 & 2007) 2,75,85,868 7.69
 20

12. Foreign Financial Institutions (FIIs) 9,25,48,177 25.79

13. NRIs/OCBs/FBD 52,53,194 1.46

Total Non-Promoter Foreign Shareholding – C 12,53,87,239 34.94

Total A + B + C 35,88,93,960 100.00