Axis Bank Future Plans

axis vertebra margin plans VRS to cut flab at top Anita Bhoir, ET Bureau despenny 12, 2012, 06. 00AM IST * (The commit plans to roll out(a)) MUMBAI Three days laterShikha Sharmatook the corner room at bloc Bank, the countrys third-largest clannish sector l barricadeer is making anformer(a) attempt to cut flab. The bank plans to roll out an azoic retirement scheme for senior employees aged 40 or more, who have been with the lender for 10 years or longer. This is the banks aid attempt to trim its 31,000-strong workforce since 2009.The first attempt had received a tepid reception, and this time the private sector lender has tailored the scheme to target people who may be good performers but dont have the ability to make it big. This time, the scheme seems to be more targeted and we hope executives leave prefer to accept it rather than be fired at a later date on the pretext of non-performance, utter an bloc Bankofficial, who requested anonymity. The management wants to red uce 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 other(a) 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 erstwhile employees of ICICI and Bank of Madura. Shikha Sharma, who headed ICICI Prudential before taking up the reins at axis vertebra Bank, seems to be interest the ICICI management style in her new-made job. Axis has 31,738 employees. Its staff cost was 577. 90 crore at the end of September 2012, comp bed with 498. 2 crore in the year-ago period. The bank may face immediate financial burden as it would have to make lump sum payments to employees. However, over a period it would led to cost savings, say Kajal Gandhi, an analyst with ICICI Securitie s. 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 change to meet Basel III norms ET BureauDec 18, 2012, 08. 06AM IST MUMBAIAxis Bank, the countrys third-largest private bank, is looking to sell as many as 4. 8 crore new shares to advance its crown before theBasel-III normskick in, which at current prices may help it fetch more than Rs 6,000 crore. The lender, headed byShikha Sharma, will be the second private sector bank to raise money this year after IndusInd Bank. City Union Banks rights share sale is underway whileYES BankandDevelopment Credit Bankare as well in the process of raising equity. ICICI BankandHDFC Bankmay also reach out to investors in the coming months for funds 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 growth and also to meet Basel-III norms, stateKaja l Gandhi, analyst ICICI Securities. Other private sector banks like YES Bank andIndusInd Bankhave also brocaded funds re pennyimely. The equity issuance by Axis will lead to a 10. 75 per cent 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 breathing holders. Indian lenders are raising capital as loan growth is seen picking up next year after more than a year of sluggish demand.With the government proceeding with some reforms, investment demand may accelerate and banks will need to keep a higher capital buffer. RBIs plan to implement the Basel-III norms to prevent a ring of the 2008 financial crisis mandates banks to keep higher capital. It will be implemented in microscope stages over six years. Axis Banks tier-I capital, or equity capital, is at 8. 99 per cent, compared with 7 per cent prescribed by Basel-III norms. http//articles. economictimes. indiati mes. com/2012-12-18/news/35890925_1_basel-iii-shikha-sharma-axis-bank Axis Bank plans to step up alter 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 exposure 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 oldtimer Executive Officer, Axis Bank. The banks exposure to MFIs was earlier in excess of Rs 800 crore.She was talking to newspersons on the sidelines of the launch of a financial inclusion programme organised by Axis Bank Foundation and microfinance institution Bandhan here on Saturday. MFIs have been recently criticised on issues of multiple lending, evergreening of loans, lack of due diligence and coercive convalescence pra ctices. Axis Bank, Ms Sharma said, aims to achieve a credit growth in excess of 18 per cent during the current year. The RBI has projected a growth rate of 18 per cent, we are hopeful of doing repair than this, she said.Asked about concerns regarding plus quality, she added, There are no signs of rising defaults in the system at present. http//www. thehindubusinessline. com/industry-and-economy/banking/article2354147. ece Axis Bank launches new campaign Zindagi ke highway pe koi akele nahin badhta Udaipur, January 23, 2013 Axis Bank, Indias third largest private sector Bank, forthwith announced the launch of its new campaign Zindagi ke highway pe koi akele nahin badhta that aims to drive home the message that progress and consequent success is mutual.The campaign designed by Lowe Lintas features Axis Banks Brand Philosophy art object we keep progressing in our lives, there always is someone else progressing along with us, so lets come up 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 hence the nock 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 film takes our brand positioning of Badhti ka naam zindagi or go on 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 touch 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, Last year we crafted Badhti ka naam zindagi to fructify the fundamental philosophy for Axis Bank. The task this year was to continue building this sentiment on a larger canvass.What better than changing the frame of reference from what it means for one individual, to what it means in the consideration of the entire community we live in? The fact is that when you progress, others benefit too. And hence no one rattling progresses alone. When you move up, others do too. We hope the execution will make our audience have this joyful acknowledgment 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 Facebook. com on the Axis Bank page. Customers can use the application from their PCs and from their tablets. http//thetimesofudaipur. com/? p=1308 Axis Bank eyeball 30 per cent sell assets by FY15 Press Trust of India Updated On October 17, 2012 1246 (IST buck private lender Axis Bank p lans 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 take out, the third largest private lender sawing machine its retail loan book stand by 5 percentage points from the year-ago period, Axis Bank Executive Director Somnath Sengupta told reporters in a post-earnings assembly 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 exclusively 15 per cent, he said. The focus on retail assets will continue to grow, and our target is to take it just 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 reported better-than-expected Q2 numbers logging in 22. 08 per cent rise in web profit toRs. 1,123 crore. Ter ming the quarterly numbers as satisfactory despite a challenging environment, Sengupta said retail advances and lower expenses helped the bank post good numbers.Total income rosebush 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 change its net interest 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 barely 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 proviso coverage of 80 per cent as a proportion of gross NPAs, including prudential write-of fs. The bank had made an additional provision ofRs. 115 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 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 limited but refused to quantify it. Similar was his response when asked about the textile sector, whoseRs. 16,000 crore of debt is being 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 fresh slippages during Q2, he said t he quarter saw a gross slippage ofRs. 628 crore primarily 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