Project report on financial comparison between

ICICI and Axis bank

A Project Submitted in partial fulfillment of the

requirement for the award of PGDM

KARTIK GAUR
(2016-19)
Graphic Era Hill University , Bhimtal
Declaration

I, the undersigned Kartik Gaur student, of Graphic

Era Hill University, Bhimtal hereby declare that I
have completed my project, titled f i n a n c i a l
comparisons
The information submitted herein is true and
original to the best of my knowledge.

Kartik Gaur
Place – Haldwani
 Guide’s Certificate

Guide : Mr. Sandeep Bisht

Department of Management studies
GEHU, Bhimtal

This is to certify that the dissertation entitled “financial comparision between

icici and axis bank” submitted by Mr. Kartik Gaur is a bonafide record of
research work done by her under my guidance and supervision.

Mr. Sandeep Bisht

(Project Guide)
 Acknowledgement

I would like to express my special thanks of gratitude to

all those who have provided me with guidance and
assistance in doing this project.
I would like to thank Mr. Vikas Tuteja, the Branch
Manager at HDFC Bank, GK-1 Branch, New Delhi for
allowing me the opportunity to do this wonderful project
and helping me to complete this project with his wide
experience and knowledge. I would also like to thank all
the employees of the bank who provided me all the
necessary information in the completion of the project
report.
Last but not the least, I would like to
extend my thanks to IILM Institute for Higher Education
(Lodhi Road), New Delhi for allowing me the
opportunity for doing this internship.

INTRODUCTION

Loans and advances granted by commercial banks are highly beneficial to individuals,
firms, companies and industrial concerns. The growth and diversification of business activities are
effected to a large extent through bank financing. Loans and advances granted by banks help in
meeting short-term and long term financial needs of business enterprises. Granting loans and
advances for economic growth is the prime duty of banks. Lending by the banking sector is
generally encouraged because it has the more effect of funds being transferred from the system to
productive purposes, thereby the economy grows.

However the process of lending also carries a risk called credit risk, which arises from the
failure of borrower. Non-performing. Asset refers to loans that are in risk of default. Once the
borrower has failed to make interest or principal payments for 90 days, then the loan amount is
considered to be a Non-performing Asset. Non-performing Assets (NPAs) are problematic and
risk for financial institutions since they depend on interest payments for income.

Banks are required to classify non-performing assets further into the following three
categories based on the period for which the asset has remained non-performing and the reliability
of the dues: 1. Sub-standard Assets (A sub-standard asset is one which has remained NPA for a
period less than or equal to 12 months), 2. Doubtful Assets (With effect from March 31, 2005, an
asset is required to be classified as doubtful, if it has remained NPA for more than 12 months), 3.
Loss Assets are those assets which are considered un-collectible.

The present research paper focuses on NPA management between ICICI & AXIS. An asset
is classified as non-performing asset (NPA) if the borrower does not pay dues in the form of
principal and interest for a period of 180 days. However with effect from March 2004, default
status would be given to a borrower if dues are not paid for 90 days.
LITERATURE REVIEW

A considerable amount of research has been done in the area of Non- performing Assets
(NPAs) of commercial banks in India, by academicians and researchers. The literature obtained
by investigators, in the form of reports of various committees, commissions and working groups
established by the Union Government, Reserve Bank of India, the research studies, articles of
researchers, the comments of economic analysts and news, is briefly reviewed in this part.

Kaveri (2001) studied the non-performing assets of various banks and suggested various
strategies to reduce the extent of NPAs.

Prashanth k Reddy (2002) in his study focuses on comparative study on Non- Performing
Assets in India in the Global context.

Ramu, N (2009) has made an attempt to analyze the asset quality in selected UCBs in Tamil
Nadu. The researcher also pointed out that, with the tightening of prudential norms, the banking
sector has been consistently conforming to and adopting international prudential norms and
accounting practices.

Meenakshi Rajeev and Mahesh, H.P. (2010) in their study concluded that accounting norms
have been modified substantially and mechanisms are in place for reduction of bad debts.
Bhavani Prasad and Veera D (2011) studied NPAs in Indian Banking sector and concluded
that PSBs accounted for 78% of total NPAs and this is due to falling revenues from traditional
sources.

Jaynal Ud-din Ahmed (2011) in his study concluded that the earning capacity and profi-
tability of banks has been adversely affected by the high level of NPAs and the reduction of NPAs
in banks is posing the biggest challenges in the Indian economy.

Veerakumar,K. (2012) in his research study concluded that the bank management may
speed up recovery of good loans and bad loans through various modes to decelerated growth of
NPAs from the present level and also to prevent re- emergence of NPAs over the minimum level.

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 Siraj.K.K and Prof.P.Sundarsanan Pillai (2012) in their research study concluded that NPA
still remains a major threat and the incremental component explained through additions to NPA
poses a great question mark on efficiency of credit risk management of banks in India.

Sandeep and Parul Mital (2012) analysed the comparative position of non- performing
assets of selected private and private sector banks in India to find their efficiency through
comparative study.

Zahoor Ahmed and Prof. Jagadeeshwaran.M. (2013) in their research study concluded that
NPA is a major problem and hurdle faced by banking industry. And also assessed the various
causes for accounts for becoming NPAs are wilful defaults, improper processing of loan proposals,
poor monitoring and so on.

Prof. Ganesan. D. and Santhanakrishnan. R. (2013) have made an attempt to analyse

the sector-wise NPAs, category-wise priority sector NPAs and impact of spread on Gross and Net
NPAs. They also analysed the reasons for an assets becoming NPA and remedial measures to be
taken and concluded that due to various steps taken by the Government of India, NPAs were
reduced to considerable level.

In the Indian context, Rajaraman and Vasishtha (2002) in an empirical study provided an
evidence of significant bi-variate relationship between an operating inefficiency indicator and the
problem loans of private sector banks. In a similar manner, largely from lenders’ perspective, Das
and Ghosh (2003) empirically examined non-performing loans of India’s private sector banks in
terms of various indicators such as asset size, credit growth and macroeconomic condition, and
operating efficiency indicators.

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Conclusion of the Literature Review

After studying all these research papers, some major points can be concluded, like NPA are
becoming a major threat to the profitability of both Public as well as Private sector banks. The
level of NPA is more in Public sector banks than private banks and the most important reason of
high level of NPA in public sector banks is priority sector lending or directed loan system. Besides
this, various studies show that the other important reason for rising NPA level are poor credit
appraisal system and poor follow up of the borrower. And unavailability of credit rating
information about the borrower is also not available. Among the important ways of curbing rising
NPA level is that banks should have their own independent credit agency and a proper credit
appraisal of the projects should be done before granting loan to anyone. And effective follow up
should be done once the loan is granted. Changes in legal framework as well as government
policies regarding priority sector lending needs to be changed.
3.1 Need for study:

The banking industry has undergone a sea change after the first phase of economic liberalization
in 1991 and hence credit management (Poongavanam, 2011). A healthy banking system is essential
for any economy striving to achieve growth and remain stable in competitive global business
environment (Prasad and Veena, 2011).

A strong financial system can help achieve efficient allocation of resources across time and space
by reducing inefficiencies arising out of market frictions and other socio-economic factors.
Amongst the various desirable characteristics of a well-functioning financial system, the
maintenance of a few non-performing assets (NPA) is an important one.

3.2 Statement of the problem:

Broadly speaking, Non-Performing Asset (NPA) is defined as an advance, where payment

of interest or repayment of installment of principal (in case of term loans disbursed by the
commercial banks) or both remains unpaid for a certain period. In India, the definition of NPAs
has changed over time. According to the Narasimhan Committee Report (1991), those assets
(advances, bills discounted, overdrafts, cash credit etc.,) for which interest remains due for a period
of 180 days should be considered as NPAs.

Subsequently, this period was reduced, and from March 1995 onwards the assets for which
the interest has remained unpaid for 90 days are considered as NPAs.Non-performing Assets
(NPA) has emerged since over a long period as an alarming threat to the Indian banking industry.

Banking reforms by the Government of India and Reserve Bank of India (RBI) in terms of
the two Narasimhan Committee Reports have been neutralized by the ill effects of this surging
threat.

5
 Despite various correctional steps administered to solve and end this problem, concrete
results are eluding The severity of the problem is however acutely suffered by almost all the
branches of commercial banks. Hence, the present study has focused on the trends in various
components of non-performing assets of State Bank of India and Punjab National Bank.

3.3 Scope of the study:

As far as the scope of the study is concerned, the study covers A Comparative Analysis
of NPA Management between ICICI and AXIS which are operating in the country. The period
of the study is five years spanning from 2011 to 2015.

3.4 Objectives:

1. To study the impact of NPA on overall performance of selected banks.

2. To evaluate the efficiency in managing NPA between the selected banks.

3. To make suggestions for better NPA management in selected banks.

3.5 Hypotheses of study:

H0 = There is no significant difference of NPA on overall performance between selected banks.

H1= There is significant difference of NPA on overall performance between selected banks.

H0 = There is no significant difference on efficiency in managing NPA between selected banks.

H1= There is significant difference on efficiency in managing NPA between selected banks.

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3.6 Methodology:

Methodology describes the research route to be followed, the instruments to be used,

universe and sample of the study for the data to be collected, the tools of analysis used and pattern
of deducing conclusions.

For the purpose of the study, categories of loan assets of private, private and foreign banks
which are listed in the Second Schedule of the Reserve Bank of India Act, 1939 have been
considered. The study is based on secondary data. The RBI privateations like, “Report on Trend
and Progress of Banking in India”, “Annual Reports of RBI”, and “Reports on Currency and
Finance” are the major sources for this study. To supplement the data, the researcher elicits other
relevant data available from the annual reports of the various private, private and foreign
commercial banks, journal, websites and text books.

3.6.1. The Sample:

The universe of the study consist all the private sector banks. Here, research has been done on
selected two private sector banks i.e., ICICI and AXIS for this comparative study.

3.6.2. Period of the study:

The study has been carried out for a five year, i.e., during 2011- 2012, 2012-13, 2013-14

and 2014-15. The study is based on secondary data.

3.7 Data collection tool and techniques:

As per the nature of study following tools and techniques are used for testing the hypotheses:

• Tool: Ratio Analysis, Excel

• Statistical Techniques: - Mean, Standard deviation and T – test.

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3.8 Data analysis:

The analysis of the data is the core part of the research. Scientific methods have been used
nowadays to get the output or study made authentic and can also sufficed the purpose what the
study meant for. The collected data have been processed on computer.

To reach certain relevant results, the data collected from all resources have been tabulated,
analyzed and interpreted with the help of appropriate statistical techniques. In order to analyze the
data and draw conclusions in this study, various statistical tools like EXCEL. The study is confined
a period of five years i.e., from 2011 to 2015.

3.9 Limitations of the study:

The present study suffered from the following limitations such as:

1) Comparison is restricted to the two banks of private sector.

2) The study is based on secondary data as published in various privateations of RBI and other
reports. These data are based on historical accounting concept, which ignores the impact of
inflation.

3) The study, as limitations, is confined only to the selected and restricted indicators and the study
is confined only for the period of five years.
Non-Performing Asset:

4.1 Introduction:

The Non-Performing Asset (NPA) concept is restricted to loans, advances and investments.
As long as an asset generates the income expected from it and does not disclose any unusual risk
other than normal commercial risk, it is treated as performing asset, and when it fails to generate
the expected income it becomes a “Non Performing Asset”.

In other words, a loan asset becomes a Non Performing Asset (NPA) when it ceases to
generate income, i.e. interest, fees, commission or any other dues for the bank for more than 90
days.

A NPA is an advance where payment of interest or repayment of instalment on principal

or both remains unpaid for a period of two quarters or more and if they have become „past due‟.
An amount under any of the credit facilities is to be treated as past due when it remain unpaid for
30 days beyond due date. It is also called as Non Performing Loans.

It is made by a bank or finance company on which repayments or interest payments are not
being made on time. A loan is an asset for a bank as the interest payments and the repayment of
the principal create a stream of cash flows. It is from the interest payments that a bank makes its
profits. Banks usually treat assets as non-performing if they are not serviced for some time.

If payments are late for a short time, a loan is classified as past due and once a payment
becomes really late (usually 90 days), the loan is classified as non-performing (B.Selvarajan & G.
Vadivalagan, 2013). NPA usually refers to non-performing assets and the lenders consider it as
those assets that are not fetching benefits to them.

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 The word is not new to the bankers. It is regular but disguised loan asset. An asset becomes
nonperforming when it ceases to generate income for the bank. Prior to 31st March, 2004 a
nonperforming asset was defined as a credit facility in respect of which the interest or instalment
of principal has remained past due for a specified period of time which was four quarters.

Due to the improvements in payment and settlement system, recovery climate, up gradation
of technology in the banking system, etc., it has been decided to dispense with past due concept,
with effect from March 31st 2004(Chandan Kumar Tiwari & Ravindra Sontakke, 2013).

4.2 NPAs Classification:

NPA, it is called such as while it is an "Asset", it does not bring substantial income to its Owner
or is just dormant. Call it a white elephant if you wish. Basically, it is having something that should
work but does not (Chaudhary and Sharma, 2011).

It is supposed to make NPAs work. The RBI has issued guidelines to banks for classification of
assets into four categories:

1) Standard Assets:

A standard asset is a performing asset. Standard assets generate continuous income and repayments
as and when they fall due. Such assets carry a normal risk and are not NPA in the real sense.
Standard asset are not consider as a NPAs but does not carry more than normal risk attached to
business.

Thus in general all the current loans, agricultural and non-agricultural loans may be treated as
standard assets (Srivastava and Bansal, 2013). It requires a minimum of 25% provision on global
portfolio but not on domestic portfolio. These are loans which do not have any problem are less
risk.

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2) Sub-Standard Assets:

All those assets (loans and advances) which are considered as non-performing for a period of 12
months. These are assets which come under the category of NPA for a period of less than 12
months (Rajput, Gupta and Chauhan, 2012).

The general provision of 10% of total outstanding principal plus entire outstanding interest should
be made on sub - standard assets. A NPA may be classified as sub-standard on the basis of the
following criteria.

• An asset which has remained overdue for a period not exceeding three years in respect of both
agricultural and non-agricultural loans should be treated as sub-standard.
• In the case of all types of term loans, where installments are overdue for a period not exceeding
three years, the entire outstanding in term loan should be treated as sub-standard.
• An asset, where the terms and conditions of the loans regarding payment of interest and
repayment of principal have been renegotiated or rescheduled, after commencement of
production, should be called as sub-standard and should remain at least two years of
satisfactory performance under the renegotiated terms. It means the classification of an asset
should not be upgraded merely as a result of rescheduling unless there is satisfactory
compliance with the conditions.

3) Doubtful Assets:

All those assets which are considered as non-performing for period of more than 12 months. On
these assets the banks are required to provide 100% for the unsecured portion and additional
provision of 20% to 50% advances, if doubtful for 3 and above 3 years in respect of both
agricultural and non-agricultural loans.

Rescheduling does not entitle a bank to upgrade the quality of advance automatically in the
substandard assets. A loan classified as doubtful has all the weakness inherent as that of a sub-
standard account. There is also a problem of weakness in the collection or liquidation of the
outstanding dues in such an account in full.

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4) Loss Assets:

All those assets which cannot be recovered. These assets are identified by the Central Bank or by
the Auditors.

Loss assets are those where loss is identified by the bank but the amount has not been written off
wholly or partly. Such loss assets will include overdue loans in cases

Ø where decrees or execution petitions have been time barred or documents are lost which are
legal proof to claim the debt,
Ø where the members and their sureties are declared insolvent or have died leaving no tangible
assets,
Ø where the members have left the area of operation of the society leaving no property and their
sureties have also no means to pay the dues
Ø Amounts which cannot be recovered in case of liquidated societies.

4.3 Types of NPA:

1) Gross NPA:

Gross NPAs are the sum total of all loan assets that are classified as NPAs as per RBI
Guidelines as on Balance Sheet date. Gross NPA reflects the quality of the loans made by banks.
It consists of all the nonstandard assets like as sub-standard, doubtful, and loss assets. It can be
calculated with the help of following ratio:

Gross NPAs Ratio = Gross NPAs / Gross Advances

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2) Net NPA:

Net NPAs are those type of NPAs in which the bank has deducted the provision regarding
NPAs. Net NPA shows the actual burden of banks. Since in India, bank balance sheets contain a
huge amount of NPAs and the process of recovery and write off of loans is very time consuming,
the banks have to make certain provisions against the NPAs according to the central bank
guidelines.

It can be calculated by following:

Net NPAs = Gross NPAs – Provisions / Gross Advances – Provisions

3) Substandard Assets:

A substandard asset would be one, which has remained as NPA for a period less than or
equal to 12 months. Such an assets will have defined credit weaknesses that jeopardize the
liquidation of the debt and are characterized by the distinct possibility that the banks will sustain
some loss, if deficiencies are not corrected.

4) Doubtful Assets:

An asset would be classified as doubtful if it has remained in the substandard category for
a period of 12 months. A loan classified as doubtful has all the weaknesses inherent in assets that
were classified as substandard, with the added characteristic that the weaknesses make collection
or liquidation in full, on the basis of currently known facts, conditions and values-
highly questionable and improbable.

5) Loss Assets:

A loss asset is one where loss has been identified by the bank or internal or external auditors
or the Reserve Bank of India (RBI) inspection but the amount has not been written off wholly. In
other words, such an asset is considered uncollectible and of such little value that its continuance
as a bankable asset is not warranted although there may be some salvage or recovery value.

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Provisioning norms for NPAS

After a proper classification of loan assets the banks are required to make sufficient provision
against each of the NPA account for possible loan losses as per prudential norms. The minimum
amount of provision required to be made against a loan asset is different for different types of
assets. The details of the provisioning requirements as per the RBI guidelines are furnished below:
In terms of RBI circular No RBI/2004/254/DBOD No. BP.BC.NO 97/21.04.141/2003-04 dated
17.06.2004, the Reserve Bank of India has decided that w.e.f March31, 2005, a general provision
of 10 percent on total outstanding should be made without making any allowance for ECGC
guarantee cover and securities available.

NPAs under Substandard Assets category The ‘unsecured exposures’ which are identified as
‘substandard’ would attract additional provision of 10 percent, i.e a total of 20 percent on the
outstanding balance. The provisioning requirement for unsecured doubtful assets is 100 percent.
NPAs under Doubtful category

In terms of RBI Circular No. 2004/261/DBOD BP.BC.99/21.04.048/2003-2004 dated 21.06.2004,

Reserve Bank decided to introduce graded higher provisioning according to the age of NPAs in
doubtful category for more than three years, with effect from March 31, 2005.
Consequently the increase in provisioning requirement on the secured portion would be applied in
a phase manner over a three year period in respect of the existing stock of NPAs as classified as
‘doubtful for more three years as on March 31, 2004 as per clarification given hereunder: In respect
of all advance classified as doubtful for more than three years on or after 1 April, 2004 the
provisioning requirement would be 100 percent.

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 PROFILE OF ICICI BANK AND AXIS BANK

AXIS BANK

Axis Bank Limited (formerly UTI Bank) is the third largest private sector bank in India. Axis
Bank's stake holders include prominent national and international entities. As of 31 Dec. 2013,
approximately 43% of the shares are owned by Foreign Institutional Investors. Promoters
(UTI, LIC and GIC), who collectively held approx. 34% of the shares, are all entities owned and
controlled by the Government of India. The remaining 23% shares are owned by corporate bodies,
financial institutions and individual investors among others.

The bank offers financial services to customer segments covering Large and Mid-Sized
Corporates, MSME, Agriculture and Retail Businesses. Axis Bank has its registered office
at Ahmedabad.

Vision & Mission

To be one of the most respected corporate foundations in the country excelling in project
management and contributing significantly to create factors responsible for sustainable
livelihoods.

16
Our mission

ABF's mission is based on the classical theory of development wherein sustainable livelihood is
defined as the livelihood which can cope with and recover from stress and shocks, maintains or
enhances capabilities and assets (social, physical and economic) and create conditions that are
suitable for better education, health and sanitation seeking behavior and sustainable livelihood for
the next generation.

It aims to support programs, projects and activities that focus on creating conditions suitable for
sustainable livelihood. For this endeavor, ABF partners with civil society organizations and
provide them with financial, technical and capacity development support to make positive
contributions in the lives of the underprivileged and vulnerable communities.

Core Values

• Customer Centricity
• Ethics
• Transparency

Teamwork Ownership

Indian Business: As on 07-Mar-2016, the Bank had a network of 2500 branches and extension
counters and 12922 ATMs Axis Bank has the largest ATM network among private banks in
India and it operates an ATM at one of the world’s highest sites at Thegu, Sikkim at a height of
4,023 meters (13,200 ft) above sea level.

International Business: The Bank has eight international offices with branches at
Singapore, Hong Kong, Dubai (at the DIFC), Shanghai, Colombo and representative offices at
Dubai and Abu Dhabi, which focus on corporate lending, trade finance, syndication, investment
banking and liability businesses. In addition to the above, the Bank has a presence in UK with its
wholly owned subsidiary Axis Bank UK Limited. The total assets of the overseas branches were
US$7.86bn

17
Bank Products:

Axis Bank operates in four segments: Treasury operations, Retail banking, Corporate/Wholesale
banking and other banking business.

Treasury operations:

The Bank’s treasury operation services include investments in sovereign and corporate debt, equity
and mutual funds, trading operations, derivative trading and foreign exchange operations on the
account, and for customers and central funding.

Retail banking:

In the retail banking category, the bank offers services such as lending to individuals/small
businesses subject to the orientation, product and granularity criterion, along with liability
products, card services, Internet banking, automated teller machines (ATM) services, depository,
financial advisory services, and Non-resident Indian (NRI) services. Axis bank is a participant in
RBI's NEFT enabled participating banks list.

Corporate/wholesale banking:

The Bank offers to corporate and other organisations services including corporate relationship not
included under retail banking, corporate advisory services, placements and syndication,
management of private issues, project appraisals, capital market related services and cash
management services.

NRI services:

Products and services for NRIs that facilitate investments in India.

Business banking:

The Bank accepts income and other direct taxes through its 214 authorised branches at 137
locations and central excise and service taxes (including e-Payments) through 56 authorised
branches at 14 locations.

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Investment banking:

Bank’s Investment Banking business comprises activities related to Equity Capital

Markets, Mergers and Acquisitions and Private Equity Advisory. The bank is a SEBI-registered
Category I Merchant Banker and has been active in advising Indian companies in raising equity
through IPOs, QIPs, and Rights issues etc. During the financial year ended 31 March 2012, Axis
Bank undertook 9 transactions including 5 IPOs and 2 Open Offers.

Lending to small and medium enterprises:

Axis Bank SME business is segmented in three groups: Small Enterprises, Medium Enterprises
and Supply Chain Finance. Under the Small Business Group a subgroup for financing micro
enterprises is also set up Axis bank is the first Indian Bank having TCDC cards in 11 currencies

Agriculture banking:

759 branches of the Bank provide banking services, including agricultural loans, to farmers. As on
31 March 2013, the Bank’s outstanding loans in the agricultural sector was INR 148 billion,
constituting 7.5% of its total advances.

Advisory Services have been developed to advise private and private sector clients on capital
structuring and funding options with a view to help the clients to help them reduce the cost of
funds. The Group has also been active in advising the central and various state governments or
their agencies in privatisation and bid process management. The Group has successfully worked
on some of the benchmark transactions in infrastructure development & manufacturing sector
covering an entire range of projects across roads, railways, airports, urban infrastructure maritime,
power, oil and gas, petrochemicals, cement, sugar, textiles, steel & allied sectors, auto ancillaries,
paper, Information Technology (IT), etc.

Ping Pay was unveiled between 21–25 May 2015, which is a multi-social payment solution that
let customers to transfer funds using their smart phones to both Axis Bank accounts and other
banks' account holders.

UTI Bank opened its registered office in Ahmedabad and corporate office in Mumbai in December
1993. The first branch was inaugurated on 2 April 1994 in Ahmedabad by Dr.Manmohan Singh,
then Finance Minister of India. UTI Bank began its operations in 1994, after the Government of
India allowed new private banks to be established. The Bank was promoted in 1993 jointly by the
Administrator of the Unit Trust of India (UTI-I), Life Insurance Corporation of India (LIC),

19
General Insurance Corporation, National Insurance Company, The New India Assurance
Company, The Oriental Insurance Corporation and United India Insurance Company.

In 2001 UTI Bank agreed to merge with and amalgamate Global Trust Bank, but the Reserve Bank
of India (RBI) withheld approval and nothing came of this. In 2004 the RBI put Global Trust into
moratorium and supervised its merger into Oriental Bank of Commerce.

UTI Bank opened its first overseas branch in 2006 Singapore. That same year it opened a
representative office in Shanghai, China.

UTI Bank opened a branch in the Dubai International Financial Centre in 2007. That same year it
began branch operations in Hong Kong. The next year it opened a representative office in Dubai.

Axis Bank opened a branch in Colombo in October 2011, as a Licensed Commercial Bank
supervised by the Central Bank of Sri Lanka. Also in 2011, Axis Bank opened a representative
offices in Abu Dhabi.

In 2013, Axis Bank's subsidiary, Axis Bank UK commenced banking operations. Axis Bank UK
has a branch in London.

In 2014, Axis Bank upgraded its representative office in Shanghai to a branch.

Corporate social responsibility

• Axis Bank Foundation: Axis bank has set up this trust in 2006 and supports
supplementary education. Axis Bank contributes up to 1 percent of its net profit annually
to various social initiatives undertaken by this foundation. During the year 2011–12, the
foundation has partnered with 36 NGOs for educating over a lakh underprivileged and
special kids in 13 states.
• Green Banking: The recycling initiative under the Green Banking banner has helped the
bank productively use around 21572 kilograms of dry waste during the year. The Axis
Bank's corporate office in Mumbai is designed and constructed as a Platinum LEED-
Certified Green Building.

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ICICI BANK

ICICI Bank is India's largest private sector bank with total assets of Rs. 6,461.29 billion (US$ 103
billion) at March 31, 2015 and profit after tax Rs. 111.75 billion (US$ 1,788 million) for the year
ended March 31, 2015. ICICI Bank currently has a network of 4,183 Branches and 13,692 ATM's
across India.

VISION AND MISSION

Vision
To be the leading provider of financial services in India and a major global bank.

Mission

We will leverage our people, technology, speed and financial capital to:
• Be the banker of first choice for our customers by delivering high
quality, world-class products and services.
• Expand the frontiers of our business globally.
• Play a proactive role in the full realisation of India’s potential.
• Maintain a healthy financial profile and diversify our earnings across businesses
and geographies.
• Maintain high standards of governance and ethics.
• Contribute positively t o th e various countries and markets i n which
we operate.
• Create value for our stakeholders.

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ORGANISATIONAL STRUCTURE

ICICI Bank’s organisation structure is designed to be flexible and customer- focused, while seeing
to ensure effective control and supervision and consistency in standards across the organisation
and align all areas of operations to overall organisational objectives. The organisation structure is
divided into six principal groups- Retail Banking, Wholesale Banking, International Banking,
Rural (Micro- Banking) and Agriculture Banking, Government Banking and Corporate center.

History
ICICI Bank was originally promoted in 1994 by ICICI Limited, an Indian financial institution, and
was its wholly-owned subsidiary. ICICI's shareholding in ICICI Bank was reduced to 46% through
a private offering of shares in India in fiscal 1998, an equity offering in the form of ADRs listed
on the NYSE in fiscal 2000, ICICI Bank's acquisition of Bank of Madura Limited in an all-stock
amalgamation in fiscal 2001, and secondary market sales by ICICI to institutional investors in
fiscal 2001 and fiscal 2002. ICICI was formed in 1955 at the initiative of the World Bank, the
Government of India and representatives of Indian industry. The principal objective was to create
a development financial institution for providing medium-term and long-term project financing to
Indian businesses.

In the 1990s, ICICI transformed its business from a development financial institution offering only
project finance to a diversified financial services group offering a wide variety of products and
services, both directly and through a number of subsidiaries and affiliates like ICICI Bank. In
1999, ICICI become the first Indian company and the first bank or financial institution from non-
Japan Asia to be listed on the NYSE.

After consideration of various corporate structuring alternatives in the context of the emerging
competitive scenario in the Indian banking industry, and the move towards universal banking, the
managements of ICICI and ICICI Bank formed the view that the merger of ICICI with ICICI Bank
would be the optimal strategic alternative for both entities, and would create the optimal legal
structure for the ICICI group's universal banking strategy. The merger would enhance value for
ICICI shareholders through the merged entity's access to low-cost deposits, greater opportunities
for earning fee-based income and the ability to participate in the payments system and provide
transaction-banking services. The merger would enhance value for ICICI Bank shareholders

22
through a large capital base and scale of operations, seamless access to ICICI's strong corporate
relationships built up over five decades, entry into new business segments, higher market share in
various business segments, particularly fee-based services, and access to the vast talent pool of
ICICI and its subsidiaries.

In October 2001, the Boards of Directors of ICICI and ICICI Bank approved the merger of ICICI
and two of its wholly-owned retail finance subsidiaries, ICICI Personal Financial Services Limited
and ICICI Capital Services Limited, with ICICI Bank. The merger was approved by shareholders
of ICICI and ICICI Bank in January 2002, by the High Court of Gujarat at Ahmedabad in March
2002, and by the High Court of Judicature at Mumbai and the Reserve Bank of India in April 2002.
Consequent to the merger, the ICICI group's financing and banking operations, both wholesale and
retail, have been integrated in a single entity.

ICICI Bank has formulated a Code of Business Conduct and Ethics for its directors and employees.

BOARD OF DIRECTORS

• MR. N.Vaghul (CHAIRMAN)

• MR. Sridar Iyengar
• MR. Lakshmi N. Mittal
• MR. Narendra Murkumbi
• MR. Anupam Puri
• Mr. Arun Ramanathan
• MR. M. K. Sharma
• MR. P.M. Sinha
• Prof. Marti G. Subrahmanyam
• MR. T. S. Vijayan
• MR. V. Prem Wasta
• MR. K. V. Kamath (MANAGING DIRECTOR & CEO)
• MR. Chanda Kochhar (JOINT MANAGING DIRECTOR)
• MR. V. Vaidyanathan, (EXECUTIVE DIRECTOR)
• Ms. Madhabi Puri-Buch, Executive Director
• MR. Sonjoy Chatterjee (EXECUTIVE DIRECTOR)
23
Products

1. Extra home loans

‘ICICI Bank Extra Home Loans’ are 'mortgage-guarantee' backed loans for retail customers who
aspire to purchase their first homes in the affordable housing segment. This was introduced in
August 2015 in association with India Mortgage Guarantee Corporation (IMGC). IMGC is a joint
venture between National Housing Bank (NHB), an RBI subsidiary which regulates Home Finance
Companies in India; NYSE-listed Genworth Financial Inc., a Fortune 500 company; International
Finance Corporation (IFC) and Asian Development Bank (ADB).

2. Smart Vault

‘Smart Vault’ are fully automated lockers available 24x7, including weekends and post banking
hours were launched in August 2015. The ‘Smart Vault’ uses robotic technology to access the
lockers from the safe vault conveniently at any time of their preference in total privacy, without
any intervention of the branch staff.

3. Saral Loans

In August 2015, ICICI Bank introduced ‘Saral-Rural Housing Loan’. Applicants from rural areas
including women borrowers as well as seekers from weaker sections can now avail home loans at
the ICICI Bank Base Rate (“I-Base”) which is currently at 9.70%. An eligible borrower can take
up to Rs.15 lac under the ‘ICICI Bank Saral-Rural Housing Loan’.

4. ICICI Bank Unifare Bangalore Metro Card

ICICI Bank and Bangalore Metro Rail Corporation Limited (BMRCL) in April 2015, announced
the launch of the ‘ICICI Bank Unifare Bangalore Metro Card’ to offer the commuters dual benefits
of an ICICI Bank credit or debit card and BMRCL’s smart card, called Namma Metro Smart Card

5. 'Touch n Remit' facility for NRIs in Kingdom of Bahrain

In March 2015, ICICI Bank tied up with SADAD Electronic Payments WLL to offer remittance
service for NRIs based in Bahrain, enabling them to transfer monies instantly to India from the
latter’s kiosks spread across the Kingdom of Bahrain. This facility has been named as ‘Touch n
Remit’

24
6. ICICI Bank Ltd launches 'Video Banking' for NRI

In February 2015, ICICI Bank announced the launch of 'Video Banking' for all its NRI (Non
Resident Indian) customers. Using this service, the customers can now connect with a customer
care representative over a video call, round-the-clock, on all days from anywhere using their smart
phone.

7. Pockets by ICICI Bank

In February 2015, ICICI Bank Re-Launched POCKETS, now working as a "Digital wallet" for
everyone (Android OS users only). The Wallet be can be opened by anyone and can conduct
transactions like recharge, shopping, transfer money using the virtual visa card which is issued
when signing up for the wallet

8. ICICIBankPay on Twitter

ICICI Bank in January, 2015 launched banking services on Twitter, christened as 'ICICIBankPay'.
This service in India enables ICICI Bank customers to transfer money to anyone in the country
who has a Twitter account, check account balance, view last three transactions and recharge
prepaid mobile in a completely secure manner.

9. Contactless Credit and Debit Cards

ICICI Bank in January, 2015 announced the launch of the country’s first ‘Contactless’ debit and
credit cards, enabling its customers to make electronic payments by just waving the cards near the
merchant terminal in lieu of dipping or swiping them. These cards are based on the Near Field
Communication (NFC) technology, which provides customers the improved convenience of speed
as these cards require significantly less time than traditional cards to complete a transaction along
with enhanced security as they remain in control of the customer.

10. MySavings Rewards

ICICI Bank has rolled-out the programme 'MySavings Rewards' from 1 September 2012, where
reward points are offered to individual domestic customers for a variety of transactions done
through the savings bank account. Reward points are offered automatically to customers for
activating Internet banking, shopping online/ paying utility bills with Internet banking and auto-
debit from savings account towards equated monthly installments for home/ auto/ personal loan/
recurring deposit. Customers are required to maintain a monthly average balance of ₹ 15,000 or
more. th Indian bank will recuire 5.5% interest on short term loans and long term bonds and

25
mortgages loans up to $2 million up to 20years to pay back annual interest of 5.5% short term
loans from 3 months up to 3years at 5.5% .credit interest is reduced to 10% annually

11. iWish- the flexible recurring deposit

iWish is a flexible recurring deposit product launched by ICICI Bank for its savings account
customers. Unlike a traditional recurring deposit, iWish allows customers to save varying amounts
of money at any time of their choice. Customers can create several goals and track their progress
on an online interface.

ICICI Bank has developed this product in collaboration with Social Money. ICICI Bank has also
launched an app for Android and Apple smartwatches. The app will provide the facility of online
banking transaction from smartwatch.

Go green initiative

The Go Green Initiative is an initiative that moves beyond people, processes and customers to cost
effective automated channels to build awareness of our environment, nation and society. The
various green products and services are Insta banking (alternate banking options like- Internet
banking, i-Mobile banking, & IVR Banking. On 22 September 2014 ICICI Bank launched Four
New Next Gen Mobile Banking Apps), Vehicle Finance for car models which use alternate modes
of energy (50% waiver on processing fee of auto loans.

Subsidiaries

1. Domestic

• ICICI Prudential Life Insurance Company Limited

• ICICI Lombard General Insurance Company Limited
• ICICI Prudential Asset Management Company Limited
• ICICI Prudential Trust Limited
• ICICI Securities Limited
• ICICI Securities Primary Dealership Limited

26
• ICICI Venture Funds Management Company Limited
• ICICI Home Finance Company Limited
• ICICI Investment Management Company Limited
• ICICI Trusteeship Services Limited
• ICICI Prudential Pension Funds Management Company Limited

2. International

• ICICI Bank USA

• ICICI Bank UK PLC

• ICICI Bank Canada
• ICICI Bank Eurasia Limited Liability Company
• ICICI Securities Holdings Inc.
• ICICI Securities Inc.
• ICICI International Limited

2
 DATA ANALYSIS

% of Gross NPA:

Gross NPA is the amount outstanding in the borrowal account, in books of the bank other than
the interest which has been recorded and not debited to the borrowal account.

Gross NPAs Ratio = Gross NPAs / Gross Advances

% of Gross NPA:

Year 2015 2014 2013 2012 2011 Mean SD T- test Sgn H0/H1
level

ICICI 3.78 3.03 3.22 3.62 4.47 3.624 1.77 0.113 0.306 H1

AXIS 1.34 1.22 1.06 0.94 1.01 1.114

Table1: Gross NPA

28
 GROSS NPA%
5

4.5

3.5

2.5

1.5

0.5

0
2015 2014 2013 2012 2011

ICICI AXIS

Chart 1: Gross NPA

Interpretation:

From the above table and chart we can interpret that the gross NPA ratio of AXIS is slightly
increasing. The gross NPA ratio of ICICI has also decreased from 2011 to 2014 but there was an
increase in 2015 from 3.03 to 3.78

T-test value is 0.113 which is below the significance level i.e. 0.306. So the hypothesis is rejected.
There is a significant difference of NPA on overall performance between ICICI & AXIS. There is
a significant difference on efficiency in managing NPA between ICICI & AXIS.

29
% of Net NPA:

Net NPAs is the amount of gross NPAs less (1) interest debited to borrowal and not recovered and
not recognized as income and kept in interest suspense (2) amount of provisions held in respect of
NPAs and (3) amount of claim received and not appropriated.

The Reserve Bank of India defines Net NPA as Net NPA = Gross NPA – (Balance in Interest
Suspense account + DICGC/ECGC claims received and held pending adjustment + Part payment
received and kept in suspense account + Total provisions held).

Net NPAs are calculated by reducing cumulative balance of provisions outstanding at a period end
from gross NPAs. Higher ratio reflects rising bad quality of loans.

NPA ratio = Net non-performing assets / Loans given

The Reserve Bank of India Banks has advised the banks to compute their Gross Advances, Net
Advances, Gross NPAs and Net NPAs as per the following format w.e.f. September 2009.

30
% of Net NPA:

Year 2015 2014 2013 2012 2011 Mean SD T- test Sgn H0/H1

level

ICICI 1.61 0.97 0.77 0.73 1.11 1.038 0.497 0.632 0.306 H0

AXIS 0.44 0.4 0.32 0.25 0.26 0.334

Table 2: Net NPA

31
 % of Net NPA
1.8
1.6
1.4
1.2
1
0.8
0.6
0.4
0.2
0
2015 2014 2013 2012 2011

ICICI AXIS

Chart 2: Net NPA

Interpretation:

From the above table and chart we can interpret that the net NPA ratio of AXIS is slightly
increasing. The net NPA ratio of ICICI was 1.11 in 2011 and then decreased to 0.73 in 2012. And
again increased 0.77 in the year 2013 and then increased to 0.97. In 2015 ratio was drastically
increased to 1.67. The net NPA ratio of AXIS in 2011 and 2012 was 0.26, 0.25. In the year 2013
and 2014 it was 0.32, 0.4. In 2015 it was 0.44.

T-test value is 0.632 which is above the significance level i.e. 0.306. So the hypothesis is to be
accepted. There is no significant difference of net NPA on overall performance between ICICI &
AXIS. There is no significant difference on efficiency in managing NPA between ICICI & AXIS.

32
Return on assets (ROA):

Returns on asset ratio is the net income (profits) generated by the bank on its total assets (including
fixed assets). The higher the proportion of average earnings assets, the better would be the resulting
returns on total assets. Similarly, ROE (returns on equity) indicates returns earned by the bank on
its total net worth.

ROA = Net profits / Avg. total assets

Return on Assets %:

Year 2015 2014 2013 2012 2011 Mean SD T- test Sgn H0/H1
level

ICICI 1.72 1.64 1.55 1.36 1.26 1.506 0.00989 0.992 0.306 H0

AXIS 1.59 1.62 1.52 1.48 1.39 1.52

Table 3: Return on Assets

33
 Return on Assets(%)
2

1.8

1.6

1.4

1.2

0.8

0.6

0.4

0.2

0
2015 2014 2013 2012 2011

ICICI AXIS

Chart 3: Return on Asset

Interpretation:

From the above table and chart we can interpret that the return on asset ratio of ICICI is increasing.
The ROA ratio of AXIS was 1.39 in 2011 and then increased to 1.48 in 2012. In the year 2013
ratio was 1.52 and then 1.62 in 2014. In 2015 ratio was declined to 1.59. The ROA ratio of ICICI
in 2011 and 2012 was 1.26, 1.36. In the year 2013 and 2014 it was 1.55, 1.64. In 2015 it was 1.72.

T-test value is 0.992 which is above the significance level i.e. 0.306. So the hypothesis is to be
accepted. There is no significant difference of NPA on overall performance between ICICI &
AXIS. There is no significant difference on efficiency in managing NPA between ICICI & AXIS.

34
Return on Net Worth:

Return on equity (ROE) is a measure of profitability that calculates how many dollars of profit a
company generates with each dollar of shareholders' equity.

ROE is sometimes called "return on net worth."

Return on Net Worth (RONW) is used in finance as a measure of a company’s profitability

RONW = Net Income / Shareholders' Equity

Return on Net Worth (%):

Year 2015 2014 2013 2012 2011 Mean SD T- test Sgn H0/H1

level

ICICI 13.89 13.39 12.48 10.7 9.35 11.962 3.531 0.00771 0.306 H1

AXIS 16.46 16.26 15.64 18.59 17.83 16.956

Table 4: Return on net worth

35
 Return on Net Worth(%)
20
18
16
14
12
10
8
6
4
2
0
2015 2014 2013 2012 2011

ICICI AXIS

Chart 4: Return on net worth

Interpretation:

From the above table and chart we can interpret that the return on net worth ratio of ICICI is
increasing. The return on net worth ratio of AXIS was 17.83 in 2011 and then increased to 18.59
in 2012. In the year 2013 ratio was 15.64 and then increased to 16.26. In 2015 ratio was 16.46.
The return on net worth ratio of ICICI in 2011 and 2012 was 9.35, 10.7. In the year 2013 and 2014
it was 12.48, 13.39. In 2015 it was 13.89.

T-test value is 0.00771 which is above the significance level i.e. 0.306. So the hypothesis is to be
rejected. There is significant difference of NPA on overall performance between ICICI & AXIS.
There is significant difference on efficiency in managing NPA between ICICI & AXIS.
 A SUMMARY OF FINDINGS AND SUGGESTIONS

Findings:

Ø Gross NPA of AXIS is higher than the ICICI which shows its management efficiency.
Ø Net NPA of AXIS is higher than the ICICI which reveals its good position.
Ø Return on assets of ICICI is higher than AXIS but it is declining. In case of AXIS it is less than
ICICI but increasing.
Ø Return on net worth of ICICI is higher but in case of AXIS is increasing where as it is declining
in case of ICICI

Suggestions:

The management of banks may impart training to the officials in the art of lending to the
different categories and they may continue to encourage upgrading their knowledge and skills in
recovering the loans and advances.
Bank management may possess specialized credit rating agencies to finalize the borrowing
capacity of the potential borrowers before offering credit to the needy people.

Steps need to be taken to recover the loan in time by adopting well equipped recovery
mechanism.

There is a wrong opinion in the minds of the farmers that agricultural credit may be waived
one day or other. Hence, the agriculturalist who can repay the agricultural credit may not come
forward to repay the loans in time. Therefore the farmers in our country requires a lot of
counselling and the bank officers engaged in this activity should provide necessary advice and
counselling.

37
Impact of NPA

NPA impact the performance and profitability of banks. The most notable impact of NPA is change
in banker’s sentiments which may hinder credit expansion to productive purpose. Banks may
incline towards more risk-free investments to avoid and reduce riskiness, which is not conducive
for the growth of economy. If the level of NPAs is not controlled timely they will:

o Reduce the earning capacity of assets and badly affect the ROI.
o The cost of capital will go up.
o The assets and liability mismatch will widen.
o Higher provisioning requirement on mounting NPAs adversely affect capital adequacy
ratio and banks profitability.
o The economic value additions (EVA) by banks gets upset because EVA is equal to the net
operating profit minus cost of capital.
o NPAs causes to decrease the value of share sometimes even below their book value in the
capital market.
o NPAs affect the risk facing ability of banks.

As NPA plays an important part in profitability and performance measurement of a bank

so a bank should always have a control over it according to the findings, the Gross NPA of ICICI
is higher so it requires reducing the gross NPA by efficient recovery management.

38
Conclusion:

The management of nonperforming assets is a daunting task for every Bank in the Banking
industry. The very important reason and necessity for management of NPA is due to their multi-
dimensional affect on the operations, performance and position of bank. The problem of Non-
Performing Assets (NPAs) is a serious issue and danger to the Indian Scheduled Commercial
Banks, because it destroys the sound financial positions of them. The customers and the private
would not keep trust on the banks any more if the banks have higher rate of NPAs. So, the problem
of NPAs must be handled in such a manner that would not ruin the financial positions and affect
the image of the banks.

The RBI and the Government of India have taken innumerable steps to reduce the volume
of NPAs of the ICICI and AXIS. The remedial measures taken by Government of India, Reserve
Bank of India and the Bank management in recent years, helped to reduce NPAs considerably as
recommended by Shri M. Narasimham. To improve the efficiency and profitability, the NPA has
to be reduced further.
Results of study through light on the level of nonperforming assets of ICICI Bank and AXIS
BANK. It is found that level of NPAs both gross and net is on an average in upward trend in AXIS
BANK but a roller-coaster trend for ICICI Bank decreasein one year then upward trend in second
year.

The non performing asset is a major problem and hurdle faced by banking industry. Willful
defaults, improper processing of loan proposals, poor monitoring and so on are the causes for
accounts for becoming NPAs. NPAs affect the position as well as performance in several ways
such as interest income, profits, and provisions against NPA‟s and so on. Hence steps should be
taken to cure this problem at earliest and in an efficient manner.

39
 Some Strategies to be followed by Banks for reducing NPA can be given as below:

• Notices.
• Guarantor follow-ups.
• Telephone.
• News paper publicity for loans of above five lakhs.
• Property seizes.
• Recovery Certificate.
• Court case.
• Debt Recovery Tribunal should implement to recover the NPAs
• Banks should be very careful in considering settlement compromise proposals
• Banks should try to introduce a system of internal audit of sanction of loans before
disbursements for large averages.
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