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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 2904 domestic branches (including extension counters) and 12,743 ATMs spread across the country as on 31st March 2016. 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. 5,25,468 crores as on 31st March 2016, Axis Bank has achieved consistent growth and stable asset quality with a 5 year CAGR (2010-11 to 2015-16) of 17% in Total Assets, 14% in Total Deposits, 19% in Total Advances and 19% in Net Profit.

As on 31st March, 2016
Name Category Attendance
Dr. Sanjiv Misra Independent Director &
Non Executive (part time) Chairman
5/5
Shri K. N. Prithviraj(Term as Non-Executive Director expired
on 8th January 2016)
Nominee of SUUTI 3/4
Shri B. Babu Rao(Inducted on 19th January 2016) Non-Executive Director, Nominee of SUUTI 1/1
Smt. Usha Sangwan @ Non-Executive Director, Nominee of LIC 2/5
Shri V. R. Kaundinya Independent Director 5/5
Shri Prasad R. Menon(Shri Prasad R. Menon) Independent Director 5/5
Prof. Samir K. Barua Independent Director 5/5
Shri Som Mittal @ Independent Director 4/5
Smt. Ireena Vittal(Resigned on 23rd August 2015) Independent Director 3/3
Shri Rohit Bhagat Independent Director 5/5
Shri S. Vishvanathan Independent Director 5/5
Shri Rakesh Makhija(Appointed on 27th October 2015) Independent Director 2/2
Smt. Ketaki Bhagwati Independent Director 1/1
Smt. Shikha Sharma Managing Director & CEO 5/5
Shri V. Srinivasan (Re-designated as DMD of the Bank
w.e.f. 21st December 2015)
Deputy Managing Director (DMD) 5/5
Shri Sanjeev Kumar Gupta(Retired with effect from close of
business hours on 18th March 2016)
Executive Director (Corporate Centre) 5/5

^ Leave of absence was granted to Smt. Usha Sangwan and Shri Som Mittal, who expressed their inability to attend the respective meetings.

As on 31st March, 2016
Name Category Attendance
Shri S. Vishvanathan (Chairman) Independent Director/ Non Executive 10/10
Shri K. N. Prithviraj (Term as Non-Executive Director expired on 8th January 2016) Nominee of SUUTI 7/7
Smt. Shikha Sharma ^ MD &CEO 8/10
Shri Prasad R. Menon Independent Director / Non Executive 10/10
Shri V. Srinivasan Deputy Managing Director 10/10
Smt. Ketaki Bhagwati (inducted as Member on 19th January, 2016) * Independent Director 10/10
Shri Sanjeev Kumar Gupta (upto 18th March 2016) ^ Executive Director (Corporate Centre) 6/10

^ Leave of absence was granted to the concerned Members who expressed their inability to attend the respective meetings.
* Participated in the meeting held on 26th February, 2016 and 17th March 2016 through video conference.

Name of the Members Category Attendance
Prof. Samir K. Barua (Chairman) Independent Director / Non Executive 15/15
Shri K. N. Prithviraj (Term as Non-Executive Director expired on 8th January 2016) Nominee of SUUTI 11/11
Shri V. R. Kaundinya ^ Independent Director / Non Executive 12/15
Shri S. Vishvanathan Independent Director / Non Executive 15/15
Shri Rakesh Makhija ^ (inducted as Member on 19th January 2016) Independent Director 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
Prof. Samir K. Barua (Chairman) Independent Director / Non Executive 5/5
Dr. Sanjiv Misra ^ Director and Non Executive Chairman 4/5
Smt. Shikha Sharma ^ MD & CEO 4/5
Shri K. N. Prithviraj (Term as Non-Executive Director expired on 8th January 2016) Nominee of SUUTI 3/3
Shri Rohit Bhagat ^ * Independent Director / Non Executive 4/5
Smt. Ireena Vittal (resigned on 23rd August 2015) Independent Director / Non Executive 2/2
Smt. Ketaki Bhagwati (inducted as Member on 19th January 2016) Independent Director 1/1

^ Leave of absence was granted to the concerned Members who expressed their inability to attend the respective meetings.
* Participated in the meeting held on 26th May 2016 through video conference.

Name of the Members Category Attendance
Shri V. R. Kaundinya ^ (Chairman) Independent Director / Non Executive 3/3
Shri B. Babu Rao (inducted as Member on 19th January 2016) Nominee of SUUTI 0/0
Shri V. Srinivasan Deputy Managing Director 3/3
Shri Sanjeev Kumar Gupta (upto 18th March 2016) Executive Director (Corporate Centre) 3/3

^ Participated through video conference in the meeting held on 14th January 2016.

Name of the Members Category Attendance
Shri Prasad R. Menon (Chairman) Independent Director / Non Executive 7/7
Shri V. R. Kaundinya ^ Independent Director / Non Executive 6/7
Prof. Samir K. Barua Independent Director / Non Executive 7/7
Shri Rohit Bhagat* ^ (inducted as Member on 24th July 2015) Independent Director / Non Executive 5/6
Shri K. N. Prithviraj (Term as Non-Executive Director expired on 8th January 2016) Nominee of SUUTI 5/5

^ Leave of absence was granted to the concerned Members who expressed their inability to attend the respective meetings.
* Participated in the meetings held on 10th September 2015 and 8th October 2015 through video conference.

Name of the Members Category Attendance
Smt. Shikha Sharma (Chairperson) MD &CEO 4/4
Shri V. R. Kaundinya ^ Independent Director / Non Executive 3/4
Prof. Samir K. Barua Independent Director / Non Executive 4/4
Smt. Usha Sangwan LIC Nominee / Non Executive 3/4
Shri. Sanjeev Kumar Gupta (upto 18th March 2016) ^ Executive Director (Corporate Centre) 3/4
Shri V. Srinivasan (inducted as Member on 19th January 2016) Deputy Managing Director 1/1

^ 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) Independent Director / Non Executive 2/2
Smt. Shikha Sharma MD &CEO 4/4
Prof. Samir K. Barua Independent Director / Non Executive 4/4
Shri B. Babu Rao (inducted as Member on 19th January 2016) Nominee of SUUTI 1/1
Smt. Ireena Vittal (resigned on 23rd August 2015) Independent Director / Non Executive 2/2
Name of the Members Category Attendance
Shri Som Mittal (Chairman) Independent Director / Non Executive 4/4
Shri Prasad R Menon ^ Independent Director / Non Executive 3/4
Smt Shikha Sharma MD &CEO 4/4
Shri V Srinivasan (inducted as Member on 19th January 2016) Deputy Managing Director 1/1
Shri Sanjeev Kumar Gupta (upto 18th March 2016) Executive Director (Corporate Centre) 4/4

^ 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) Independent Director / Non Executive 2/2
Smt. Usha Sangwan ^ LIC Nominee / Non Executive 1/2
Shri V. Srinivasan Deputy Managing Director 2/2

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

Name of the Members Category Attendance
Smt. Shikha Sharma (Chairperson) MD &CEO 2/2
Shri V. R. Kaundinya Independent Director / Non Executive 2/2
Shri S. Vishvanathan * Independent Director / Non Executive 2/2

* Participated in the meeting held on 23rd June 2015 through video conference.


Acquisitions, Divestments and Mergers Committee
No meeting of the ADAM Committee was held during the year under review.
Committee of Whole-Time Directors
In all, 8 meetings of Committee of Whole-Time Directors were held during the year 2015-16 on 30th April 2015, 18th June 2015, 28th July 2015, 31st August 2015, 28th October 2015, 23rd December 2015, 28th January 2016 and 4th March 2016.

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 2016, 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 2016. 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), Axis Bank UK Ltd. (ABUK), Axis Securities Europe Ltd. (ASEL) and A.Treds Ltd


ACL was incorporated in India as a wholly-owned subsidiary of the Bank on 6th December 2005 and received its certificate of commencement of business on 2nd 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 24th August 2014. The paid-up capital of ACL on 31 March 2016 was `735 million. ACL is in the business of merchant banking, institutional broking and investment banking. The net profit of ACL for the year ended 31st March 2016 was `1276 million.

ASL was incorporated in India on 21st July 2006. The sales and securities business, including the retail broking business of Axis Capital Ltd, was merged with ASL on 25th 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 31st March 2016 was ` 1445 million and the net profit for fiscal 2016 is `357 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 4th December 2006. APE is in the business of managing investments, venture capital funds and offshore funds.

The paid-up capital of APE is `15 million and the reported net loss is `9 million for fiscal 2016.

ATSL was incorporated in India as a wholly-owned subsidiary of the Bank on 16th May 2008 and received its certificate of commencement on 30th September 2008. ATSL is in the business of trusteeship services. The paid-up capital of ATSL was `15 million as at 31st March 2016 and the reported net profit is 180 million for fiscal 2016.

AAMC was incorporated on 13th January 2009 and received its certificate of commencement on 4th 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 2016 and the reported net profit is `316 million for fiscal 2016.

AMFT was incorporated on 2nd January 2009 and received its certificate of commencement on 4th March 2009. AMFT is acting as a trustee to Axis Mutual Fund. The SEBI, in a letter dated 4th 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 31st March 2016 and the reported net profit is `0.50 million for fiscal 2016.

AFL was incorporated on 27th 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 31st March 2016, the paid-up capital of the company was `3682.50 million and the reported net profit was `1108 million for fiscal 2016.

ABUK is a wholly-owned overseas subsidiary of the Bank. It was incorporated on 7th March 2011 in the United Kingdom and commenced its operations on 19th 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 US$ 55 million (`3644 million) and reported a net profit `366 million for fiscal 2016.

The name Enam Securities Europe Ltd was changed to Axis Securities Europe Ltd (ASEL) on 3rd January 2014. In line with RBI directives, ASEL has converted into direct subsidiary of the Bank w.e.f. 19th August 2015. For fiscal 2016, ASEL booked a net loss GBP 15409.

A.Treds Ltd was incorporated on 23rd May, 2016. Nature of Business of A.Treds Ltd is "Setting up institutional mechanism to facilitate financing of trade receivables of MSME" .