Tuesday, February 26, 2019
Axis Bank Future Plans
axis vertebra depository financial institution figures VRS to cut flab at top Anita Bhoir, ET BureauDec 12, 2012, 06. 00AM IST * (The rim plans to roll out) MUMBAI trine twelvemonths afterShikha Sharmatook the corner room at axis of rotation blaspheme building, the countrys third-largest secluded heavens lender is making an opposite attempt to cut flab. The edge plans to roll out an early hideaway outline for senior employees antiquated 40 or more, who have been with the lender for 10 years or longer. This is the banks second attempt to trim its 31,000-strong workforce since 2009.The first attempt had acquire a lukewarm response, and this time the snobbish sphere of influence lender has well-kept the scheme to target people who may be satisfactory performers exclusively dont have the ability to make it big. This time, the scheme seems to be more targeted and we try for executives forget prefer to accept it rather than be fired at a later date on the pretext of n on-performance, verbalize anaxis of rotation Bankofficial, who requested anonymity. The management wants to reduce the number of vice-presidents and senior vice-presidents. It wants a leaner and younger organisation, the official added.Axis Bank is not the first private institution to offer an early retirement scheme. In its earlier avatar as a financial institution, ICICI had introduced its firstVRSin 1996-97. The second scheme came in late-1999. Later, in 2003, the KV Kamath-ledICICI Bankannounced an early retirement offer targeted at erst date employees of ICICI and Bank of Madura. Shikha Sharma, who headed ICICI Prudential before winning up the reins at Axis Bank, seems to be following the ICICI management bolt in her new job. Axis has 31,738 employees. Its staff cost was 577. 90 crore at the end of September 2012, compared with 498. 2 crore in the year-ago period. The bank may manifestation immediate financial burden as it would have to make pomposity sum payments to empl oyees. However, over a period it would led to cost savings, verbalise Kajal Gandhi, an analyst with ICICI Securities. http//articles. economictimes. indiatimes. com/2012-12-12/news/35773778_1_shikha-sharma-axis-bank-private-sector-lender Axis Bank plans Rs 6000 crores share sale to bear upon Basel III norms ET BureauDec 18, 2012, 08. 06AM IST MUMBAIAxis Bank, the countrys third-largest private bank, is looking to cheat on as many as 4. 8 crore new shares to boost its big(p) before theBasel-III normskick in, which at current prices may help it pay back more than Rs 6,000 crore. The lender, headed byShikha Sharma, testament be the second private sector bank to raise specie this year after IndusInd Bank. City kernel Banks rights share sale is underway manYES BankandDevelopment Credit Bankare to a fault in the process of peak equity. ICICI BankandHDFC Bankmay also reach out to investors in the coming months for capital as the market for equity issuances opens up and the need to raise funds increases to meet capital norms. The capital raising is largely to fund ingathering and also to meet Basel-III norms, saidKajal Gandhi, analyst ICICI Securities. Other private sector banks like YES Bank andIndusInd Bankhave also raised funds upstartly. The equity issuance by Axis impart lead to a 10. 75 per penny dilution. Axis said its board has approved the fund-raising plan, which will either be a domestic sale to institutions or a GDR issue. It also retains the right to sell to existing holders. Indian lenders are raising capital as loan nurtureth is seen picking up following year after more than a year of sluggish demand.With the disposal proceeding with some reforms, investment demand may accelerate and banks will need to make a higher capital buffer. rbis plan to go across the Basel-III norms to prevent a repeat of the 2008 financial crisis mandates banks to keep higher capital. It will be implemented in phases over six years. Axis Banks tier-I capi tal, or equity capital, is at 8. 99 per cent, compared with 7 per cent prescribed by Basel-III norms. http//articles. economictimes. indiatimes. com/2012-12-18/news/35890925_1_basel-iii-shikha-sharma-axis-bank Axis Bank plans to step up lending to MFIsKOLKATAAug 13, 2012 Axis Bank which had gone slow on lending to the microfinance institutions (MFI) post the recent crisis in the industry now plans to scale up its characterization to the sector. The bank also looks at direct lending to self-help groups. We had gone slow on lending to the MFI sector due to the recent crisis. However, with the regulations in place we plan to step up our lending to the sector, said Ms Shikha Sharma, Managing Director and tribal chief Executive Officer, Axis Bank. The banks exposure to MFIs was earlier in excess of Rs 800 crore.She was talk to newspersons on the sidelines of the launch of a financial inclusion programme nonionic by Axis Bank Foundation and microfinance institution Bandhan here on Sa turday. MFIs have been recently criticised on issues of multiple lending, evergreening of loans, lack of due assiduity and coercive recovery practices. Axis Bank, Ms Sharma said, aims to achieve a quote growth in excess of 18 per cent during the current year. The RBI has projected a growth rate of 18 per cent, we are encouraging of doing discontinue than this, she said.Asked about concerns regarding asset quality, she added, There are no signs of rebellion defaults in the system at present. http//www. thehindubusinessline. com/industry-and-economy/banking/article2354147. ece Axis Bank launches new draw Zindagi ke highway pe koi akele nahin badhta Udaipur, January 23, 2013 Axis Bank, Indias third largest private sector Bank, like a shot announced the launch of its new campaign Zindagi ke highway pe koi akele nahin badhta that aims to drive radix the message that come about and subsequent success is mutual.The campaign designed by Lowe Lintas features Axis Banks Brand Philos ophy While we keep come oning in our lives, there always is someone else passing along with us, so lets further Together. The campaign highlights Axis Banks credentials as a customer centric bank and a partner in progress who walks with its customers on the highway of life therefore the tag line Zindagi ke highway pe koi akele nahin badhta. Speaking on the launch of the campaign, Mr. R. K Bammi, Executive Director Retail Banking, Axis Bank said, The new mental picture takes our brand positioning of Badhti ka naam zindagi or Progress On ahead.We understand that Progress always has a ripple effect. When one person progresses, others around him progress too. This insight is captured in our new TVC that clearly demonstrates the circle of progress and how you stir lives of others even when you do not know them. Explaining this new phase in Axis Banks communication journey, Arun Iyer, National Creative Director, Lowe Lintas says that, be year we crafted Badhti ka naam zindagi to define the fundamental philosophy for Axis Bank. The task this year was to continue building this sentiment on a larger mintvass.What better than changing the frame of reference from what it means for one individual, to what it means in the context of the entire community we live in? The fact is that when you progress, others pull ahead too. And hence no one really progresses alone. When you move up, others do too. We hope the execution will make our audience have this joyful realisation about how we are connected with each other. Taking its philosophy of progress together Axis Bank plans to enable its customers to acknowledge contributions of others in their progress through an application called ProgressTogether.The application would be hosted on a microsite which can be reached on the URL www. progresstogether. in and will also be mirrored on Face earmark. com on the Axis Bank page. Customers can function the application from their PCs and from their tablets. http//thetimes ofudaipur. com/? p=1308 Axis Bank eyes 30 per cent sell assets by FY15 Press Trust of India Updated On October 17, 2012 1246 (IST Private lender Axis Bank plans to increase the share of its sell lending from the present 26 per cent of the total loan book to 30 per cent by 2015, a top official said on Tuesday.As of the September quarter, the third largest private lender proverb its retail loan book jump by 5 percentage points from the year-ago period, Axis Bank Executive Director Somnath Sengupta told reporters in a post-earnings conference call. On a year-on-year basis, the retail banking grew 43 per cent as of the second quarter, while large and mid-corporate banking grew just 15 per cent, he said. The focus on retail assets will continue to grow, and our target is to take it further to 30 per cent by the end of FY15.It is a part of strategic intent to grow the retail book. We are expanding through home, auto and personal loans. We are also selling credit cards to our existing customers. On Monday, the bank account better-than-expected Q2 numbers logging in 22. 08 per cent rise in meshwork profit toRs. 1,123 crore. Terming the quarterly numbers as satisfactory despite a challenging environment, Sengupta said retail advances and lower expenses helped the bank post good numbers.Total income rose 27 per cent toRs. 8,280. 29 crore in the July-September quarter. NII rose toRs. 2,327 crore fromRs. 2,007 crore, while other income grew 29 per cent toRs. 1,593 crore, driven by growth in fee income which stood atRs. 1,343 crore, a growth of 20 per cent. The bank saw its trading income rise toRs. 207 crore during the quarter, he said. The bank improved its net cheer margin to 3. 46 per cent in the reporting period from 3. 37 per cent at the end of the first quarter.Sengupta further said the bank could maintain asset quality as its gross NPAs and net NPAs stood scarcely unchanged at 1. 10 per cent and 0. 33 per cent, respectively as against 1. 08 per cent and 0. 34 per cent as of September 2011. The bank held a provision coverage of 80 per cent as a counterpoise of gross NPAs, including prudential write-offs. The bank had made an additional provision ofRs. one hundred fifteen crore in the quarter, he said, adding it has provided for the exposure to the troubled Hyderabad-based Deccan Chronicle Group, which has become a bad asset now.However, Sengupta did not reveal whether the bank has made full phase of the moon provisions for the Deccan loans and also the exact amount of the exposure. However, it has been learnt Axis Bank has exposure of overRs. 400 crore to the diversified company. Asked about the banks exposure to the state-run power distribution companies (discoms) whoseRs. 1. 9 trillion of debt was recast last month, he said it was restrain but refused to quantify it. Similar was his response when asked about the textile sector, whoseRs. 16,000 crore of debt is be recast with government intervention now.Sengupta also refused to disclose the status of other two default accounts SevenHills Hospital (exposure at aroundRs. 463 crore) and Icomm Tele (aroundRs. 220 crore). About alert slippages during Q2, he said the quarter saw a gross slippage ofRs. 628 crore originally due to a large corporate account. During the quarter, the bank sawRs. 99 crore incremental slippages net of restructuring and upgrades. http//profit. ndtv. com/news/corporates/article-axis-bank-eyes-30-per-cent-retail-assets-by-fy15-312162
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