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Bank

Axis Bank ideas VRS to slice flab by top Anita Bhoir, AINSI QUE BureauDec doze, 2012, 06. 00AM IST AUCH * (The bank plans to roll out¦) MUMBAI: Three years afterShikha Sharmatook around the corner room for Axis Bank, the country’s third-largest private sector lender is making another try to cut excess weight. The bank strategies to turns out an early pension scheme intended for senior staff aged forty or more, who have been with the lender for ten years or longer.

This is the bank’s second attempt to trim the 31, 000-strong workforce seeing that 2009.

The first attempt had received a warm response, and this time the private sector lender provides tailored the scheme to people who may be good performers but have no the ability to make it big. “This time, the system seems to be more targeted and that we hope professionals will opt to accept this rather than end up being fired at a later time on the pretext of non-performance, ” stated anAxis Bankofficial, who requested anonymity. “The management wants to reduce the quantity of vice-presidents and senior vice-presidents. It would like a more lean and youthful organisation, inches the official added.

Axis Lender is not really the initially private organization to offer an early retirement plan. In its before avatar as being a financial institution, ICICI had released its firstVRSin 1996-97. The other scheme arrived late-1999. Later on, in 2003, the KV Kamath-ledICICI Bankannounced an early pension offer geared towards erstwhile staff of ICICI and Financial institution of Madura. Shikha Sharma, who headed ICICI Prudential before taking up the reins at Axis Bank, seems to be following the ICICI management style in her new work. Axis has 31, 738 employees. It is 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 well face quick financial burden as it would have to make lump sum payments to employees. Nevertheless , over a period it would led to cost savings, inches said Kajal Gandhi, a great analyst with ICICI Securities. http://articles. economictimes. indiatimes. com/2012-12-12/news/35773778_1_shikha-sharma-axis-bank-private-sector-lender Axis Lender plans Rs 6000 crores share sales to meet Basel III best practice rules ET BureauDec 18, 2012, 08. 06AM IST MUMBAI: Axis Financial institution, the country’s third-largest private bank, searching for to sell as many as 4. eight crore new shares to increase its capital before theBasel-III normskick in, which by current prices may help that fetch much more than Rs 6th, 000 crore. The lender, going byShikha Sharma, will be the second private sector bank to raise funds this coming year after IndusInd Bank. City Union Bank’s rights discuss sale is usually underway whileYES BankandDevelopment Credit Bankare as well in the process of raising collateral. ICICI BankandHDFC Bankmay as well reach out to investors in the approaching months pertaining to funds because the market intended for equity issuances opens up and the need to raise funds raises to meet capital norms. The main city raising is essentially to fund progress and also to meet up with Basel-III norms, ” saidKajal Gandhi, expert ICICI Securities. “Other exclusive sector banking companies like CERTAINLY Bank andIndusInd Bankhave as well raised funds recently. inches The equity issuance by Axis can lead to a 10. 75 percent dilution. Axis said their board features approved the fund-raising program, which will possibly be a domestic sale to institutions or possibly a GDR concern. It also retains the right to sell to existing holders. Indian lenders are raising capital as loan growth is observed picking up next year after more than a year of lethargic demand.

Together with the government proceeding with some reforms, investment require may increase the speed of and banking companies will need to retain a higher capital buffer. RBI’s plan to put into action the Basel-III norms to stop a do it again of the 2008 financial crisis requires banks to hold higher capital. It will be integrated in levels over half a dozen years. Axis Bank’s tier-I capital, or perhaps equity capital, is at almost eight. 99 %, compared with several per cent recommended by Basel-III norms. http://articles. economictimes. indiatimes. com/2012-12-18/news/35890925_1_basel-iii-shikha-sharma-axis-bank Axis Bank strategies to step up lending to MFIs

KOLKATAAug 13, 2012 Axis Financial institution ” which had gone gradual on financing to the microfinance institutions (MFI) post the recent turmoil in the industry ” now ideas to level up the exposure to the sector. The bank also examines direct financing to self-help groups. “We had gone slower on loaning to the MFI sector as a result of recent crisis. However , with all the regulations in place we want to step up the lending towards the sector,  said Ms Shikha Sharma, Managing Representative and Chief Executive Officer, Axis Financial institution. The bank’s exposure to MFIs was previous in excess of Rs 800 crore.

She was talking to newspersons on the sidelines of the kick off of a financial inclusion programme organised by simply Axis Lender Foundation and microfinance establishment Bandhan here on Saturday. MFIs have been just lately criticised in issues of multiple financing, evergreening of loans, insufficient due diligence and coercive restoration practices. Axis Bank, Ms Sharma explained, aims to acquire a credit growth in excess of 18 per cent throughout the current season. “The RBI has expected a growth price of 18 per cent, we could hopeful of accomplishing better than this kind of,  your woman said.

Mentioned concerns relating to asset quality, she added, “There are no signs of increasing defaults in the system at present.  http://www. thehindubusinessline. com/industry-and-economy/banking/article2354147. ece Axis Bank releases new campaign ‘Zindagi ke highway rapid ejaculationature climax, koi akele nahin badhta’ Udaipur, January 23, 2013: Axis Bank, India’s third largest private sector Lender, today announced the launch of its new campaign ‘Zindagi ke highway pe koi fish akele nahin badhta’ that aims to travel home the message that progress and subsequent success is common.

The plan designed by Lowe Lintas features Axis Bank’s Brand Philosophy ‘While we all keep advancing in our lives, there often is someone else progressing along with us, and so let’s Progress Together’. The campaign shows Axis Bank’s credentials as a customer based bank and a partner in progress who moves with its customers on the highway of life ” hence the tag line Zindagi ke freeway pe koi akele nahin badhta. Speaking on the kick off of the marketing campaign, Mr. L. K Bammi, Executive Movie director ” Price tag Banking, Axis Bank explained, “The new film will take our company positioning of Badhti ka naam zindagi¦ or Improvement On¦ ahead.

We recognize that Progress always has a ripple effect. When one person moves along, others about him improvement too. This kind of insight is definitely captured inside our new TVC that evidently demonstrates the circle of progress and just how you touch lives more even when you do not know them.  Explaining this new phase in Axis Bank’s communication trip, Arun Iyer, National Imaginative Director, Lowe Lintas says that, “Last year we all crafted ‘Badhti ka naam zindagi’ to define the basic philosophy intended for Axis Financial institution. The task this season was to continue building this sentiment on the larger canvas.

What better than changing the frame of reference from what it means for starters individual, as to the it means in the context in the entire community we reside in? The fact is that when you progress, others gain too. And therefore no one actually progresses exclusively. When you progress, others carry out too. Really is endless the delivery will make the audience have this joyful conclusion about how our company is connected with each other.  Choosing its philosophy of progress together Axis Bank strategies to enable the customers to acknowledge contributions of others inside their progress via an application referred to as ProgressTogether.

The applying would be managed on a microsite which can be come to on the WEB ADDRESS www. progresstogether. in and you can mirrored about Facebook. com on the Axis Bank webpage. Customers are able to use the application from their PCs and from their tablets. http://thetimesofudaipur. com/? p=1308 Axis Bank sight 30 per cent retail resources by FY15 Press Trust of India | Up to date On: August 17, 2012 12: 46 (IST Personal lender Axis Bank plans to increase the share of its full lending through the present 26 per cent of the total bank loan book to 30 percent by 2015, a top standard said upon Tuesday.

By the Sept. 2010 quarter, the next largest non-public lender found its selling loan publication jump simply by 5 percentage points from your year-ago period, Axis Traditional bank Executive Director Somnath Sengupta told reporters in a post-earnings conference phone. On a year-on-year basis, the retail banking grew 43 per cent since the second quarter, while huge and mid-corporate banking grew just 12-15 per cent, he said. “The focus on price tag assets will continue to expand, and the target is always to take this further to 30 % by the end of FY15.

It is a part of ideal intent to expand the retail book. We are expanding through home, car and personal financial loans. We are also selling bank cards to our existing customers. inch On Mon, the bank reported better-than-expected Q2 numbers working in twenty-two. 08 % rise in net profit toRs. 1, 123 crore. Terming the quarterly numbers because satisfactory despite a challenging environment, Sengupta said retail advances and lower expenses helped the bank post good numbers.

Total income flower 27 per cent toRs. eight, 280. twenty nine crore inside the July-September quarter. NII flower toRs. two, 327 crore fromRs. a couple of, 007 crore, while various other income grew 29 per cent toRs. one particular, 593 crore, driven by growth in fee cash flow which was standing atRs. you, 343 crore, a growth of 20 %. The bank found its trading income climb toRs. 207 crore during the quarter, this individual said. Your bank improved its net fascination margin to three. 46 % in the confirming period by 3. 37 per cent at the end of the initial quarter.

Sengupta further said the bank can maintain asset quality as its gross NPAs and net NPAs was standing barely unrevised at 1 . 10 % and zero. 33 percent, respectively since against 1 . 08 per cent and 0. 34 per cent as of September 2011. The lender held a provision coverage of 85 per cent as being a proportion of gross NPAs, including prudential write-offs. Your bank had produced an additional dotacion ofRs. 121 crore in the quarter, he said, adding it has provided for the experience of the troubled Hyderabad-based Deccan Chronicle Group, which has become a bad advantage now.

Nevertheless , Sengupta would not reveal whether or not the bank has turned full procedures for the Deccan financial loans and also the exact amount with the exposure. However , it has been discovered Axis Bank has exposure of overRs. 400 crore to the varied company. Asked about the bank’s exposure to the state-run electricity distribution businesses (discoms) whoseRs. 1 . being unfaithful trillion of debt was recast last month, he explained it was “limited” but rejected to quantify it. Related was on how he responds when asked about the linen sector, whoseRs. 16, 1000 crore of debt has been recast with government treatment now.

Sengupta also rejected to disclose the status of other two default accounts, SevenHills Medical center (exposure by aroundRs. 463 crore) and Icomm Tele (aroundRs. 220 crore). Regarding fresh slippages during Q2, he said the 1 / 4 saw a gross slippage ofRs. 628 crore primarily as a result of a large business account. Through the quarter, the financial institution sawRs. 99 crore pregressive slippages net of reorganization, rearrangement, reshuffling and upgrades. http://profit. ndtv. com/news/corporates/article-axis-bank-eyes-30-per-cent-retail-assets-by-fy15-312162