4.final Term Paper Of Fm

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TERM PAPER OF FINANCIAL MANAGEMENT

TOPIC: AXIS BANK (UTI BANK)

SUBMITTED TO: MS.KAWALPREET KAUR

SUBMITTED BY: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.

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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

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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.

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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.

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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

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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.

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- 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

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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.

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-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

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Ramesh Ramanathan Capital structure of axis bank From Year 2007 2006 2005 2004 2003 2002 2001 2000 1998 1997 1994

To Year

Class Share

2008 2007 2006 2005 2004 2003 2002 2001 2000 1998 1995

Equity Share Equity Share Equity Share Equity Share Equity Share Equity Share Equity Share Equity Share Equity Share Equity Share Equity Share

(R

OfAuthorized Issued Capital Capital 500.00 300.00 300.00 300.00 300.00 300.00 230.00 230.00 230.00 300.00 300.00

357.71 281.63 278.69 273.80 231.58 230.19 191.81 131.90 131.90 115.00 115.00

Paid UpPaid UpPaid Shares (Nos) Face Value Capit 357709669 281630787 278690727 273796444 231580570 230185579 191812870 131903170 131903170 115000070 115000070

10 10 10 10 10 10 10 10 10 10 10

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 2008 2007 2006 2005 2004 2003 2002 2001

Month Apr Apr Apr Apr Apr May May May

Dividend (%) 60 45 35 28 25 22 20 15

357.71 281.63 278.69 273.80 231.58 230.19 191.81 131.90 131.90 115.00 115.00

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2000 1999

May May

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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

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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 Mar ' 08 Sources of funds Owner's fund

Mar ' 07

Mar ' 06

Mar ' 05

(R Mar

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Equity share capital 357.71 Share application money 2.19 Preference share capital Reserves & surplus 8,410.79 Loan funds Secured loans Unsecured loans 87,626.22 Total 96,396.91 Uses of funds Fixed assets Gross block 1,384.70 Less : revaluation reserve Less : accumulated depreciation 590.33 Net block 794.37 Capital work-in-progress 128.48 Investments 33,705.10 Net current assets Current assets, loans & advances 2,784.51 Less : current liabilities & provisions 7,556.90 Total net current assets -4,772.38 Miscellaneous expenses not written Total 29,855.57 Notes: Book value of unquoted investments Market value of quoted investments Contingent liabilities 94,598.40 Number of equity sharesoutstanding 3577.10 (Lacs)

281.63 8.98 3,111.60

278.69 13.44 2,593.50

273.80 13.42 2,134.39

231.5 1.63 904.8

58,785.60 62,187.81

40,113.53 42,999.16

31,712.00 34,133.60

20,95 22,09

1,098.93 450.55 648.38 24.82 26,897.16

898.68 345.33 553.34 14.37 21,527.35

764.78 261.98 502.80 15.64 14,274.95

593.5 184.6 408.9 26.22 7,792

1,892.07 5,873.80 -3,981.73 23,588.62

1,679.98 4,051.03 -2,371.05 19,724.02

2,071.38 1,828.68 242.70 15,036.08

896.1 1,530 -634. 7,593

67,744.86

45,043.14

23,441.83

16,80

2816.31

2786.91

2737.96

2315

Profit and loss account: ------------------- in Rs. Cr. -------------------

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Profit & Loss account

Income Interest Earned Other Income Total Income Expenditure Interest expended Employee Cost Selling and Admin Expenses Depreciation Miscellaneous Expenses Preoperative Exp Capitalized Operating Expenses Provisions & Contingencies Total Expenses

Net Profit for the Year Extraordionary Items Profit brought forward Total Preference Dividend Equity Dividend Corporate Dividend Tax Per share data (annualised) Earning Per Share (Rs) Equity Dividend (%) Book Value (Rs) Appropriations

Mar '04

Mar '05

Mar '06

Mar '07

Mar '08

12 mths

12 mths

12 mths

12 mths

12 mths

1,586.71 532.96 2,119.67

1,924.16 403.51 2,327.67

2,888.79 713.71 3,602.50

4,560.40 986.49 5,546.89

7,005.32 1,750.59 8,755.91

1,021.45 121.25 396.88 61.89 246.81 0.00 662.76 164.07 1,848.28 Mar '04

1,192.98 176.85 207.10 81.58 345.38 0.00 572.11 238.80 2,003.89 Mar '05

1,810.56 240.20 406.12 92.19 568.35 0.00 925.19 381.67 3,117.42 Mar '06

2,993.32 381.35 589.31 111.86 812.03 0.00 1,387.06 507.49 4,887.87 Mar '07

4,419.96 670.25 952.61 158.11 1,483.94 0.00 2,454.03 810.88 7,684.87 Mar '08

12 mths

12 mths

12 mths

12 mths

12 mths

271.38 6.93 122.47 400.78 0.00 65.31 0.00

323.78 10.80 182.10 516.68 0.00 87.75 0.00

485.08 0.00 197.41 682.49 0.00 112.55 0.00

659.03 -31.80 731.04 1,358.27 0.00 148.79 0.00

1,071.03 0.00 1,029.07 2,100.10 0.00 251.64 0.00

11.72 25.00 49.07

11.83 28.00 87.96

17.41 35.00 103.06

23.40 45.00 120.49

29.94 60.00 245.13

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Transfer to Statutory Reserves 153.36 Transfer to Other Reserves 0.01 Proposed Dividend/Transfer to 65.31 Govt Balance c/f to Balance Sheet 182.10 Total 400.78

231.52 0.00

-161.10 0.00

180.40 0.00

294.60 -0.01

87.75

112.55

148.79

251.64

197.41 516.68

731.04 682.49

1,029.07 1,358.26

1,553.87 2,100.10

(R Profit loss account Income: Operating income Expenses Material consumed Manufacturing expenses Personnel expenses Selling expenses Administrative expenses Expenses capitalized Cost of sales Operating profit Other recurring income Adjusted PBDIT Financial expenses Depreciation Other write offs Adjusted PBT Tax charges

Mar ' 08

Mar ' 07

Mar ' 06

Mar ' 05 Mar ' 0

8,750.68

5,461.60

3,594.46

2,299.23 2,115.5

670.25 74.41 1,551.27 2,295.92 2,034.80 13.86 2,048.66 4,419.96 158.11 1,890.54 734.86

381.35 29.62 864.23 1,275.19 1,193.09 21.24 1,214.32 2,993.32 111.86 1,102.46 418.82

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176.85 121.25 11.47 10.81 302.21 468.82 490.53 600.88 615.71 493.20 34.52 1.44 650.24 494.64 1,192.98 1,021.4 81.58 61.89 568.66 432.75 180.03 177.52

240.20 17.05 575.74 833.00 950.90 6.34 957.24 1,810.56 92.19 865.05 246.35

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Adjusted PAT Nonrecurring items Other non cash adjustments Reported net profit Earnings before appropriation Equity dividend Preference dividend Dividend tax Retained earnings

1,086.21 -15.18 1,071.03 2,100.10 251.64 1,848.47

661.94 -2.91 -31.80 627.23 1,358.26 148.79 1,209.47

486.78 -1.70 485.08 682.49 112.55 569.94

326.17 -2.39 10.80 334.58 516.68 87.75 428.93

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.

272.88 -1.49 6.93 278.31 400.78 65.31 335.47

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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 prepaid 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.

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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. No.

Name of the Shareholders

A.

Promoter Shareholding

1.

Administrator of the Specified Undertaking of 9,72,24,373 the Unit Trust of India -UTI - I (SUUTI)

27.09

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

No. of % Shares Held Stake to Total

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 Bodies/HUF/Trusts/Banks)

Total Non-Promoter Indian Shareholding – B C.

Foreign Shareholding

11.

FDI Route - GDRs Issue (2005 & 2007)

12.20

8,13,22,470

22.66

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