Last checked at 17 Oct 2014 11:50
BOARD MEETING OF AXIS BANK TO CONSIDER UNAUDITED QUARTERLY / HALF YEARLY FINANCIAL RESULTS FOR THE QUARTER (Q2) / HALF YEAR (H1) ENDED 30TH SEPTEMBER, 2014
We enclose herewith a copy of the Unaudited Quarterly / Half Yearly Financial Results for the Quarter (Q2) / Half Year (H1) ended 30th September, 2014 of the Bank. The said results are approved by the Board of Directors of the Bank at its meeting held on 17th October, 2014 at Mumbai.
You are requested to take the above on record.
Axis Bank Limited
Regd. Office: 'Trishul', 3rd floor, Opp. Samartheshwar Temple, Law Garden, Ellisbridge,
Ahmedabad - 380 006.
UNAUDITED FINANCIAL RESULTS FOR THE HALF YEAR ENDED 30th SEPTEMBER, 2014
(`in lacs)
PARTICULARS | FOR THE QUARTER ENDED 30.09.2014 | FOR THE QUARTER ENDED 30.06.2014 | FOR THE QUARTER ENDED 30.09.2013 | FOR THE HALF YEAR ENDED 30.09.2014 | FOR THE HALF YEAR ENDED 30.09.2013 | FOR THE YEAR ENDED 31.03.2014 |
(Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Audited) | |
1. Interest earned (a)+(b)+(c)+(d) | 8,602,36 | 8,289,42 | 7,608,99 | 16,891,78 | 14,886,80 | 30,641,16 |
(a) Interest/discount on advances/ bills | 6,255,94 | 6,085,31 | 5,394,31 | 12,341,25 | 10,583,40 | 21,950,43 |
(b) Income on Investments | 2,204,82 | 2,102,30 | 2,142,53 | 4,307,12 | 4,157,81 | 8,343,13 |
(c) Interest on balances with Reserve Bank of India and other inter-bank funds | 54,45 | 55,83 | 34,98 | 110,28 | 69,09 | 166,79 |
(d) Others | 87,15 | 45,98 | 37,17 | 133,13 | 76,50 | 180,81 |
2. Other Income (Refer note 2) | 1,947,61 | 1,691,05 | 1,766,09 | 3,638,66 | 3,547,40 | 7,405,22 |
3. TOTAL INCOME (1+2) | 10,549,97 | 9,980,47 | 9,375,08 | 20,530,44 | 18,434,20 | 38,046,38 |
4. Interest Expended | 5,077,51 | 4,978,93 | 4,672,32 | 10,056,44 | 9,084,92 | 18,689,52 |
5. Operating expenses (i)+(ii) | 2,310,16 | 2,105,88 | 1,952,96 | 4,416,04 | 3,755,93 | 7,900,77 |
(i) Employees cost | 785,98 | 751,75 | 643,92 | 1,537,73 | 1,287,00 | 2,601,35 |
(ii) Other operating expenses | 1,524,18 | 1,354,13 | 1,309,04 | 2,878,31 | 2,468,93 | 5,299,42 |
6. TOTAL EXPENDITURE (4+5) (Excluding Provisions and Contingencies) | 7,387,67 | 7,084,81 | 6,625,28 | 14,472,48 | 12,840,85 | 26,590,29 |
7. OPERATING PROFIT (3-6) (Profit before Provisions and Contingencies) | 3,162,30 | 2,895,66 | 2,749,80 | 6,057,96 | 5,593,35 | 11,456,09 |
8. Provisions (other than tax) and Contingencies (Net) | 725,04 | 386,60 | 687,49 | 1,111,64 | 1,399,74 | 2,107,46 |
9. Exceptional Items | - | - | - | - | - | - |
10. Profit/(Loss) from Ordinary Activities before Tax (7-8-9) | 2,437,26 | 2,509,06 | 2,062,31 | 4,946,32 | 4,193,61 | 9,348,63 |
11. Tax expense | 826,55 | 842,30 | 700,00 | 1,668,85 | 1,422,37 | 3,130,96 |
12. Net Profit/(Loss) from Ordinary Activities after Tax (10-11) | 1,610,71 | 1,666,76 | 1,362,31 | 3,277,47 | 2,771,24 | 6,217,67 |
13. Extraordinary Items (net of tax expense) | - | - | - | - | - | - |
14. Net Profit/(Loss) for the period (12-13) | 1,610,71 | 1,666,76 | 1,362,31 | 3,277,47 | 2,771,24 | 6,217,67 |
15. Paid-up equity share capital (Face value `2/- per share) | 471,93 | 471,37 | 469,19 | 471,93 | 469,19 | 469,84 |
16. Reserves excluding revaluation reserves | 37,750,65 | |||||
17. Analytical Ratios | ||||||
(i) Percentage of Shares held by Government of India | NIL | NIL | NIL | NIL | NIL | NIL |
(ii) Capital Adequacy Ratio (Basel III) | 14.84% | 15.53% | 15.85% | 14.84% | 15.85% | 16.07% |
(iii) Earnings per Share (EPS) for the period/year (before and after extraordinary items) (`) - Basic - Diluted |
6.83 6.78 |
7.08 7.06 |
5.81 5.79 |
13.91 13.82 |
11.82 11.79 |
26.51 26.45 |
(iv) NPA Ratios | ||||||
(a) Amount of Gross Non-Performing Assets | 3,613,10 | 3,463,27 | 2,734,47 | 3,613,10 | 2,734,47 | 3,146,41 |
(b) Amount of Net Non-Performing Assets | 1,179,80 | 1,113,54 | 838,27 | 1,179,80 | 838,27 | 1,024,62 |
(c) % of Gross NPAs | 1.34 | 1.34 | 1.19 | 1.34 | 1.19 | 1.22 |
(d) % of Net NPAs | 0.44 | 0.44 | 0.37 | 0.44 | 0.37 | 0.40 |
(v) Return on Assets (annualized) | 1.69 | 1.78 | 1.58 | 1.73 | 1.65 | 1.78 |
18. Public Shareholding # - Number of shares - Percentage of shareholding |
1,590,743,163 67.41% |
1,588,698,225 67.41% |
1,443,114,995 61.52% |
1,590,743,163 67.41% |
1,443,114,995 61.52% |
1,578,741,905 67.20% |
19. Promoters and promoter group shareholding# Pledged/Encumbered - Number of shares - Percentage of shares (as a % of the total shareholding of promoter and promoter group) - Percentage of shares (as a % of the total share capital)
Non Encumbered - Number of shares - Percentage of shares (as a % of the total shareholding of promoter and promoter group) - Percentage of shares (as a % of the total share capital) |
NIL
-
-
681,356,225
100.00%
28.88% |
NIL
-
-
687,468,765
100.00%
29.17% |
NIL
-
-
796,214,330
100.00%
33.94% |
NIL
-
-
681,356,225
100.00%
28.88% |
NIL
-
-
796,214,330
100.00%
33.94% |
NIL
-
-
693,911,965
100.00%
29.54% |
# excludes shares held by custodian against which Global Depositary Receipts have been issued
Notes:
1. Statement of Assets and Liabilities of the Bank as on 30th September, 2014 is given below.
(`in lacs)
Particulars | As on 30.09.2014 | As on 30.09.2013 |
(Unaudited) | (Unaudited) | |
CAPITAL AND LIABILITIES | ||
Capital | 471,93 | 469,19 |
Reserves and Surplus | 41,292,04 | 35,755,02 |
Deposits | 2,83,727,57 | 2,55,365,10 |
Borrowings | 55,715,96 | 47,944,65 |
Other Liabilities and Provisions | 13,764,07 | 11,828,98 |
TOTAL | 3,94,971,57 | 3,51,362,94 |
ASSETS | ||
Cash and Balances with Reserve Bank of India | 15,111,03 | 14,361,76 |
Balances with Banks and Money at Call and Short Notice | 10,418,17 | 6,088,99 |
Investments | 1,14,283,75 | 1,18,410,83 |
Advances | 2,42,198,06 | 2,01,303,16 |
Fixed Assets | 2,398,80 | 2,321,64 |
Other Assets | 10,561,76 | 8,876,56 |
TOTAL | 3,94,971,57 | 3,51,362,94 |
2. 'Other income' includes gains from securities' transactions, commission earned from guarantees/letters of credit, fees earned from providing services to customers, selling of third party products, ATM sharing fees.
3. During the quarter ended 30th September, 2014, the Bank allotted 28,05,973 equity shares pursuant to the exercise of options under its Employee Stock Option Scheme.
4. The shareholders of the Bank at the 20th Annual General Meeting held on 27thJune 2014, approved the sub-division (split) of one equity share of the Bank from nominal value of `10/- each into five equity shares of nominal value of `2/- each. The record date for the sub-division was 30th July, 2014. All shares and per share information in the financial results reflect the effect of sub-division (split) retrospectively for the earlier reporting periods.
5. Disclosure about investor complaints:
Complaints at the beginning of the quarter | Received during the quarter | Disposed off during the quarter | Unresolved as on 30.09.2014 |
NIL | 53 | 53 | NIL |
6. In accordance with RBI circular DBOD.No.BP.BC.2/21.06.201/2013 -14 dated 1st July, 2013, banks are required to make Pillar 3 disclosures under Basel III capital requirements. The Bank has made these disclosures which are available on its website at the following link: http://www.axisbank.com/investor-corner/baselIII-disclosures.aspx. The disclosures have not been subjected to audit or limited review by the statutory auditors of the Bank.
7. The above results have been approved by the Board of Directors of the Bank at its meeting held at Mumbai today.
8. These results for the half year ended 30th September, 2014 have been subjected to a "Limited Review" by the statutory auditors of the Bank.
9. Previous period figures have been regrouped and reclassified, where necessary, to make them comparable with current period figures.
Axis Bank Limited
Segmental Results
(`in lacs)
FOR THE QUARTER ENDED 30.09.2014 | FOR THE QUARTER ENDED 30.06.2014 | FOR THE QUARTER ENDED 30.09.2013 | FOR THE HALF YEAR ENDED 30.09.2014 | FOR THE HALF YEAR ENDED 30.09.2013 | FOR THE YEAR ENDED 31.03.2014 | ||
(Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Audited) | ||
1 | Segment Revenue | ||||||
A | Treasury | 12,393,85 | 12,116,91 | 11,645,07 | 24,510,76 | 22,698,01 | 46,399,98 |
B | Corporate/Wholesale Banking | 5,071,98 | 4,927,91 | 4,807,59 | 9,999,89 | 9,567,03 | 19,424,44 |
C | Retail Banking | 6,973,08 | 6,586,34 | 5,370,59 | 13,559,42 | 10,283,73 | 22,259,00 |
D | Other Banking Business | 193,46 | 130,22 | 167,28 | 323,68 | 262,12 | 666,89 |
Total | 24,632,37 | 23,761,38 | 21,990,53 | 48,393,75 | 42,810,89 | 88,750,31 | |
Less: Inter segment revenue | 14,082,40 | 13,780,91 | 12,615,45 | 27,863,31 | 24,376,69 | 50,703,93 | |
Income from Operations | 10,549,97 | 9,980,47 | 9,375,08 | 20,530,44 | 18,434,20 | 38,046,38 | |
2 | Segment Results After Provisions & Before Tax | ||||||
A | Treasury | 711,71 | 648,24 | 405,67 | 1,359,95 | 904,95 | 2,335,74 |
B | Corporate/Wholesale Banking | 1,346,35 | 1,502,58 | 1,390,78 | 2,848,93 | 2,796,75 | 5,892,60 |
C | Retail Banking | 212,21 | 255,66 | 121,45 | 467,87 | 275,97 | 551,27 |
D | Other Banking Business | 166,99 | 102,58 | 144,41 | 269,57 | 215,94 | 569,02 |
Total Profit Before Tax | 2,437,26 | 2,509,06 | 2,062,31 | 4,946,32 | 4,193,61 | 9,348,63 | |
3 | Capital Employed | ||||||
A | Treasury | 24,790,43 | 19,572,96 | 12,747,33 | 24,790,43 | 12,747,33 | 19,510,61 |
B | Corporate/Wholesale Banking | 72,600,49 | 72,039,99 | 63,799,58 | 72,600,49 | 63,799,58 | 62,406,09 |
C | Retail Banking | (57,797,50) | (53,138,30) | (42,116,51) | (57,797,50) | (42,116,51) | (44,687,33) |
D | Other Banking Business | 318,20 | 292,39 | 295,22 | 318,20 | 295,22 | 357,68 |
E | Unallocated | 1,852,35 | 1,282,19 | 1,498,59 | 1,852,35 | 1,498,59 | 633,44 |
Total | 41,763,97 | 40,049,23 | 36,224,21 | 41,763,97 | 36,224,21 | 38,220,49 | |
Note: Previous period figures have been regrouped and reclassified, where necessary, to make them comparable with current period figures.
For and on behalf of the Board
SHIKHA SHARMA
MD & CEO
Place: Mumbai
Date: 17th October, 2014
www.axisbank.com