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Corporate Profile

Axis Bank is the third largest private sector bank in India. The Bank offers the entire spectrum of financial services to customer segments covering Large and Mid-Corporates, MSME, Agriculture and Retail Businesses.

The bank has a large footprint of 3,304 domestic branches (including extension counters) and 14,163 ATMs across the country as on 31st March 2017. The overseas operations of the Bank are spread over nine international offices with branches at Singapore, Hong Kong, Dubai (at the DIFC), Colombo and Shanghai; representative offices at Dhaka, Dubai, Abu Dhabi and an overseas subsidiary at London, UK. The international offices focus on corporate lending, trade finance, syndication, investment banking and liability businesses.

Axis Bank is one of the first new generation private sector banks to have begun operations in 1994. The Bank was promoted in 1993, jointly by Specified Undertaking of Unit Trust of India (SUUTI) (then known as Unit Trust of India), Life Insurance Corporation of India (LIC), General Insurance Corporation of India (GIC), National Insurance Company Ltd., The New India Assurance Company Ltd., The Oriental Insurance Company Ltd. and United India Insurance Company Ltd. The share holding of Unit Trust of India was subsequently transferred to SUUTI, an entity established in 2003.

With a balance sheet size of Rs. 6,01,468 crores as on 31st March 2017, Axis Bank has achieved consistent growth and with a 5 year CAGR (2011-12 to 2016-17) of 16% in Total Assets, 13% in Total Deposits, 17% in Total Advances.

As on 31st March, 2017
Name Category Attendance
Dr. Sanjiv Misra Independent Director & Non Executive (Part Time) Chairman 7/7
Smt. Shikha Sharma Managing Director & CEO 7/7
Shri V. R. Kaundinya * Independent Non-Executive 7/7
Shri Prasad R. Menon Independent Non-Executive 7/7
Prof. Samir K. Barua Independent Non-Executive 7/7
Shri Som Mittal * Independent Non-Executive 7/7
Shri Rohit Bhagat ^* Independent Non-Executive 6/7
Smt. Usha Sangwan ^ Nominee Director – Life Insurance Corporation of India (LIC)
[Equity Investor]
4/7
Shri S. Vishvanathan Independent Non-Executive 7/7
Shri Rakesh Makhija Independent Non-Executive 7/7
Smt. Ketaki Bhagwati * Independent Non-Executive 7/7
Shri B. Babu Rao ^ Nominee Director – Specified Undertaking of
Unit Trust of India (SUUTI) [Equity Investor]
6/7
Shri V. Srinivasan Deputy Managing Director 7/7
Shri Rajiv Anand # (Appointed w.e.f 04.08.2016) Executive Director (Retail Banking) 6/6
Shri Rajesh Dahiya # (Appointed w.e.f 04.08.2016) Executive Director (Corporate Centre) 6/6

^ Leave of absence was granted to Shri B. Babu Rao, Smt. Usha Sangwan and Shri Rohit Bhagat, who expressed their inability to attend the respective meetings.
* Participated in the meeting held on 12th May, 2016 and 20th December, 2016 through video conference
# Shri Rajiv Anand and Shri Rajesh Dahiya were appointed as Directors of the Bank w.e.f. 12th May, 2016 and as the Whole Time Directors designated as the Executive Director (Retail Banking) and Executive Director (Corporate Centre), respectively, of the Bank w.e.f. 4th August, 2016, in terms of the approval granted by the RBI

As on 31st March, 2017
Name Category Attendance
Shri S. Vishvanathan Chairman 10/10
Smt. Shikha Sharma ^ Member 8/10
Shri Prasad R. Menon * Member 10/10
Shri V. Srinivasan ^ Member 9/10
Smt. Ketaki Bhagwati * Member 10/10

^ Leave of absence was granted to the concerned Members who expressed their inability to attend the respective meetings.
* Participated in the meeting held on 24th May, 2016, 09th November, 2016, 6th December, 2016, 20th January, 2017 and 21st February, 2017 through video conference.

Name of the Members Category Attendance
Prof. Samir K. Barua Chairman   15/15
Shri V. R. Kaundinya ^ Member 11/15
Shri S. Vishvanathan ^ Member 14/15
Shri Rakesh Makhija * Member 15/15

^ Leave of absence was granted to the concerned Members who expressed their inability to attend the respective meetings.
* Participated in the meeting held on 16th February, 2017 through video conference.

Name of the Members Category Attendance
Prof. Samir K. Barua Chairman 5/5
Dr. Sanjiv Misra ^ Member 4/5
Smt. Shikha Sharma ^ Member 4/5
Shri Rohit Bhagat ^ * Member 4/5
Smt. Ketaki Bhagwati Member 5/5

^ Leave of absence was granted to the concerned Members who expressed their inability to attend the respective meetings.
* Participated in the meeting held on 15th June, 2016 through video conference.

Name of the Members Category Attendance
Shri V. R. Kaundinya Chairman 4/4
Shri B. Babu Rao Member 4/4
Shri Rajesh Dahiya * (inducted as Member on 12th October, 2016) Member 2/2
Shri V. Srinivasan ^ (ceased to be a member w.e.f 12th October, 2016) Member 1/2

^ Leave of absence was granted to the concerned Member who expressed his inability to attend the respective meeting.
* Participated through video conference in the meeting held on 18th October, 2016.

Name of the Members Category Attendance
Shri Prasad R. Menon Chairman 7/7
Shri V. R. Kaundinya ^* Member 6/7
Prof. Samir K. Barua(cased to be a member w.e.f 12th October, 2016) Member 3/3
Shri Rohit Bhagat * Member 7/7
Shri Rakesh Makhija (inducted as Member w.e.f 12th October, 2016) Member 4/4

^ Leave of absence was granted to the concerned Member who expressed his inability to attend the respective meeting.
* Participated in the meetings held on 13th April, 2016, 12th May, 2016, 27th February, 2017 and 23rd March, 2017 through video conference.

Name of the Members Category Attendance
Prof. Samir K. Barua (w.e.f. 24th October 2016) Chairman 4/4
Shri V. R. Kaundinya (ceased to be a member w.e.f 12th October, 2016) Member 2/2
Smt. Shikha Sharma ^ Member 3/4
Smt. Usha Sangwan ^ (ceased to be a member w.e.f 24th October, 2016) Member 0/2
Shri Rakesh Makhija (inducted as Member w.e.f 12th October, 2016) Member 2/2
Shri V. Srinivasan (ceased to be a member w.e.f 12th October, 2016) Member 2/2
Shri B. Babu Rao (inducted as Member w.e.f 12th October, 2016) Member 2/2
Shri Rajesh Dahiya (inducted as Member w.e.f 24th October, 2016) Member 2/2

^ Leave of absence was granted to the concerned Members who expressed her inability to attend the respective meeting.

Name of the Members Category Attendance
Shri Som Mittal Chairman 5/5
Smt. Shikha Sharma ^ (ceased to be a member w.e.f 12th October, 2016) Member 1/3
Prof. Samir K. Barua * (ceased to be a member w.e.f 12th October, 2016) Member 3/3
Shri B. Babu Rao ^ Member 4/5
Shri Rajiv Anand (inducted as Member w.e.f 12th October, 2016) Member 2/2

^ Leave of absence was granted to the concerned Members who expressed their inability to attend the respective meetings.
* Participated in the meetings held on 30th June, 2016 through video conference.

Name of the Members Category Attendance
Shri Som Mittal Chairman 5/5
Shri Prasad R Menon Member 5/5
Smt Shikha Sharma ^ Member 4/5
Shri V Srinivasan ^ Member 4/5
Shri Rajiv Anand ^ (inducted as Member w.e.f 12th October 2016) Member 2/3

^ Leave of absence was granted to the concerned Members who expressed their inability to attend the respective meetings.

Name of the Members Category Attendance
Shri Som Mittal Chairman 5/5
Smt. Usha Sangwan * (ceased to be a member w.e.f 24th October, 2016) Member 3/3
Shri V. Srinivasan ^ (ceased to be a member w.e.f 12th October, 2016) Member 2/3
Shri Rajiv Anand ^ (inducted as Member w.e.f 24th October, 2016) Member 1/2
Shri Rajesh Dahiya (inducted as Member w.e.f 12th October, 2016) Member 2/2

^ Leave of absence was granted to the concerned Members who expressed his inability to attend the respective meetings.
* Participated in the meetings held on 30th June, 2016 and 12th September 2016 through video conference.

Name of the Members Category Attendance
Smt. Shikha Sharma ^ Chairperson 1/2
Shri V. R. Kaundinya (not a member w.e.f 12th October, 2016) Member 0/0
Shri S. Vishvanathan Member 2/2
Smt Ketaki Bhagwati (inducted as Member on 12th October, 2016) Member 2/2
Shri V.Srinivasan (inducted as Member on 12th October, 2016) Member 2/2

^ Leave of absence was granted to the concerned Member who expressed her inability to attend the respective meeting.

Name of the Members Category Attendance
Shri Prasad Menon Chairman 1/1
Smt. Shikha Sharma Member 1/1
Shri Rohit Bhagat ^ Member 0/1
Shri Rakesh Makhija Member 1/1

^ Leave of absence was granted to the concerned Member who expressed his inability to attend the respective meetings.

Name of the Members Category Attendance
Smt. Shikha Sharma Chairperson 7/7
Shri V.Srinivasan Member 7/7
Shri Rajiv Anand (became a Member w.e.f. 12th May 2016) Member 7/7
Shri Rajesh Dahiya (became a Member w.e.f. 12th May 2016) Member 7/7


Note: The above attendance sheet of Directors for Committee meetings is updated till 31st March, 2017

The registered office of Axis Bank is located at :

‘Trishul’, 3rd Floor,
Opposite Samartheshwar Temple,
Near Law Garden, Ellisbridge,
Ahmedabad, Gujarat - 380 006

Axis House,
C-2 Wadia International Centre,
Pandurang Budhkar Marg, Worli, Mumbai – 4000 025

The Corporate Office of Axis Bank is located at Axis House Mumbai. Axis House has received the ‘Platinum’ rating awarded by the US Green Building Council for its environment friendly facilities and reduction of carbon emission.

Axis Bank Ltd. has been promoted by the largest Financial Institutions of the country, UTI, LIC, GIC and its subsidiaries. The Bank was set up in 1993 with a capital of 115 crore, with UTI contributing 100 crore, LIC - 7.5 crore and GIC and its four subsidiaries contributing 1.5 crore each

The Bank has authorized share capital of Rs. 850 crores comprising 4,250,000,000 equity shares of Rs.2/- each.As on 31st March 2017, the Bank has issued, subscribed and paid-up equity capital of Rs. 476.67 crores, constituting 2,38,28,31,826 equity shares of Rs.2/- each. The Bank’s shares are listed on the National Stock Exchange of India Limited and the BSE Limited. The GDRs issued by the Bank are listed on the London Stock Exchange (LSE). The Bonds issued by the Bank under the MTN programme are listed on the Singapore Stock Exchange.

The Bank has a large footprint of 2904 domestic branches (including extension counters) and 12,743 ATMs spread across the country as on 31st March 2017. The overseas operations of the Bank are spread over nine international offices with branches at Singapore, Hong Kong, Dubai (at the DIFC), Colombo and Shanghai; representative offices at Dhaka, Dubai, Abu Dhabi and an overseas subsidiary at London, UK. The international offices focus on corporate lending, trade finance, syndication, investment banking and liability businesses.

The Bank has ten subsidiaries; namely, [Axis Capital Ltd. (ACL), Axis Securities Ltd. (ASL), Axis Private Equity Ltd. (APE), Axis Trustee Services Ltd. (ATSL), Axis Asset Management Company Ltd. (AAMC), Axis Mutual Fund Trustee Ltd. (AMFT), Axis Finance Ltd (AFL), A.TReDS Ltd. (ATL), Axis Bank UK Ltd. (ABUK), and Axis Securities Europe Ltd., (ASEL)].


ACL was incorporated in India as a wholly owned subsidiary of the Bank on 6 December 2005 and received its certificate of commencement of business on 2 May 2006. Certain businesses of M/s Enam Securities Pvt Ltd were merged with Axis Capital Ltd as part of a scheme and the following companies became direct subsidiaries of ACL:

  • Axis Securities Ltd. (formerly Enam Securities Direct Pvt. Ltd.)
  • Axis Finance Ltd. (formerly Enam Finance Pvt. Ltd.)
  • Axis Securities Europe Ltd. (formerly Enam Securities Europe Ltd.)
  • Enam International Ltd., UAE (voluntarily dissolved with effect from 24TH August 2014)

Axis Securities Ltd., Axis Finance Ltd. and Axis Securities Europe Ltd. later became direct subsidiaries of the Bank in line with the RBI directives. Enam International Ltd., (UAE) was voluntarily dissolved with effect from 24 August 2014. The paid-up capital of ACL on 31 March 2017 was ₹[735.00] million. ACL is in the business of merchant banking, institutional broking and investment banking. The net [profit ] of ACL for the year ended 31 March 2017 was ₹[1132.17] million

ASL was incorporated in India on 21 July 2006. The sales and securities business, including the retail broking business of Axis Capital Ltd, was merged with ASL on 25 May 2013. ASL is a wholly owned subsidiary of the Bank and is in the business of marketing retail asset products, credit cards and retail broking.

The paid-up capital of ASL as at 31 March 2017 was ₹[1445.00] million and the net [profit] for fiscal 2017 is ₹[514.97] million.

APE was incorporated in India as a wholly owned subsidiary of the Bank on 3 October 2006 and received its certificate of commencement on 4 December 2006. APE is in the business of managing investments, venture capital funds and offshore funds.

The paid-up capital of APE is ₹[15.00] million and the reported net [loss] is ₹[3.42] million for fiscal 2017.

ATSL was incorporated in India as a wholly owned subsidiary of the Bank on 16 May 2008 and received its certificate of commencement on 30 September 2008. ATSL is in the business of trusteeship services. The paid-up capital of ATSL was ₹[15.00] million as at 31 March 2017 and the reported net profit is ₹[172.37] million for fiscal 2017.

AAMC was incorporated on 13 January 2009 and received its certificate of commencement on 4 March 2009. AAMC is in the business of asset management.

In September 2012, the Bank entered into a strategic partnership with Schroders Plc. Through this partnership, Schroder Investment Management (Singapore) Ltd. (SIMSL), through its wholly owned subsidiary, Schroder Singapore Holdings Private Ltd. (SSHPL), acquired 25 per cent. of the total issued and paid-up equity share capital plus one equity share in AAMC.

AAMC is approved by the SEBI to act as Investment Manager for Axis Mutual Fund. Axis Mutual Fund is also registered with the SEBI. AAMC is also registered with the SEBI as a Portfolio Manager. The paid-up capital of AAMC is ₹[2101.10] million as at 31 March 2017 and the reported net [profit] is ₹[569.58] million for fiscal 2017.

AMFT was incorporated on 2 January 2009 and received its certificate of commencement on 4 March 2009. AMFT is acting as a trustee to Axis Mutual Fund. The SEBI, in a letter dated 4 September 2009, granted registration to Axis Mutual Fund.

In September 2012, the Bank entered into a strategic partnership with Schroders plc. Through this partnership, SIMSL, through its wholly owned subsidiary, SSHPL, acquired 25 per cent. of the total issued and paid-up equity share capital plus one equity share in AMFT. AMFT had a paid-up capital of ₹[0.50] million as at 31 March 2017 and the reported net [profit] is ₹[0.50] million for fiscal 2017.

AFL was incorporated on 27 April 1995. It is a non-banking finance company regulated by the RBI. AFL is positioned to offer products in the retail as well as corporate banking segments. As at 31 March 2017, the paid-up capital of the company was ₹[4182.50] million and the reported net [profit ] was ₹[1652.61] million for fiscal 2017.

ABUK is a wholly owned overseas subsidiary of the Bank. It was incorporated on 7 March 2011 in the United Kingdom and commenced its operations on 19 April 2013 upon receipt of approval from the FCA. ABUK is in the business of commercial banking, excluding the business of retail mortgage loans. ABUK had paid-up capital of (₹[3566.75] million) and reported a net [profit] of ₹[507.66] million for fiscal 2017.

The name Enam Securities Europe Ltd was changed to Axis Securities Europe Ltd (ASEL) on 3 January 2014. In line with RBI directives ASEL has converted into a direct subsidiary of the Bank w.e.f. 19 August 2015. ASEL is in the process of winding up.

Bank in joint venture with Mjunction Services Ltd. has set up a new subsidiary namely A.TREDS Ltd with effect from 23 May 2016 in which Bank & Mjunction Services Ltd. holds 67% & 33% of the share capital respectively. ATL undertake the activities/ operations related to Trade Receivables Discounting system (TReDS).

A summary of the financial results of the Axis Bank subsidiaries for fiscal 2017 is given below:

Axis Capital Ltd. Axis Private Equity Ltd. Axis Trustee Services Ltd. Axis Mutual Fund Trustee Ltd. Axis Asset Management Company Ltd. Axis Bank UK Ltd.@ Axis Finance Ltd. Axis Securities Ltd. Axis Securities Europe Ltd A.Treds Ltd
Total Asset [11988.12] [42.04] [672.65] [3.60] [3738.84] [53349.72] [52755.61] [4483.83] [0] 254.78
Total Income [3436.49] [2.10] [362.11] [3.69] [5309.74] [2103.24] [5754.04] [7561.33] [0] 12.46
Profit/Loss after taxation [1132.17] [(3.42)] [172.37] [\0.50] [569.58] [507.66] [1652.61] [514.97] [0] (7.23)

Asset/Liability items are stated in INR equivalent of U.S.$ ($1 = ₹[65.8500] as at 31 March 2017). Profit and loss items reported in INR based on rates prevailing on the date of transactions.

Smt. Shikha Sharma -Managing Director
Shri Jairam Sridharan -Chief Financial Officer
Shri Girish Koliyote -Company Secretary