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Research paper on NIM

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A Dissertation Report On "Study Of Net Interest Margin {NIM} Of Selected INDIAN Public & Private Sector Banks"
Has Undertaken 10 Years Financial Data Of Selected Banks i.e. 2008-2017 for the Study.

Veröffentlicht in: Daten & Analysen
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Research paper on NIM

  1. 1. [- 1 -] ABSTRACT Net Interest Margin (NIM) of commercial banks varies from economy to economy due to variation in country, industry and firms specific factors. This study aims to assess and identify the determinants of NIM in the Indian banking industry. It mainly used unbalanced panel data collected from annual reports commercial banks and the National Bank of India for the period 2008 to 2017. In addition, expert opinions are obtained from officials operating in both private and public banks and used to examine the effects of changes in internal and external factors on the performance of banks. M.S-Excel has been used for data analysis. In this study, assessment was made to identify determinants of NIM, which is the ratio of net interest income to earning assets using panel data. Both qualitative and empirical technique is used in the study. Both internal and external factors that affect NIM of commercial banks are considered in the study. Estimation results of the study revealed that cost efficiency, implicit interest payment, competition, and scale efficiency have positive and significant effect on NIM. However, liquidity risk and management efficiency has negative and significant effect on NIM. On the other hand, credit risk, interest rate risk, capital risk, inflation and economic growth do not seem to have significant impact on banks’ performance. Keywords: Net Interest Margin, Banking Industry, Macroeconomic Variables, Banking Performance INTRODUCTION Finance is an integral part of any financial system and allows businesses to take advantage of opportunities. Financial institutions are important in managing and circulating fund within the economy. In doing so, financial institutions contribute towards economic growth and efficiency of a country through optimal allocation of resources. They provide platform for continuous restructuring of the economy through reallocating financial resources to the fastest growing sectors. For financial institutions to play their expected role, a well functioning financial system is a must, as a weak financial system is one of the reasons for many countries to remain poor. Under developing economies like India where the financial sector is largely dominated by banks, the effective and efficient functioning of the banking sector plays significant role in accelerating economic growth. In order to achieve the goal of efficient allocation of resources, the intermediation role of banks should be carried out at the lowest possible cost. However, studies conducted to assess the effect of intermediation cost (interest margin) of banks in different parts of the world show variations. The main reason behind this variation associated with both internal and external factors such as credit risk, liquidity risk, interest rate risk, cost efficiency, management quality, competition, inflation, GDP growth, etc. and change in any of these factors leads to change in interest margin and economic growth.
  2. 2. [- 2 -] The NIM ratio measures the profit a company makes on its investing activities as a percentage of total investing assets. Banks and other financial institutions typically use this ratio to analyze their investment decisions and track the profitability of their lending operations. This way they can adjust their lending practices to maximize profitability. Investment firms also use this margin to measure the success of a fund manager’s investment decision-making. A positive percentage indicates that the fund manager made good decisions and was able to a profit on his investments. A negative ratio, on the other hand, means the fund manager lost money on his investments because the interest expenses exceeded the investment earnings. Let’s take a look at how to calculate the net interest margin ratio. FORMULA The net interest margin formula is calculated by dividing the difference of investment income and interest expenses by the average earning assets. Net Interest Margin = (Investment Income – Interest Expenses) / Average Earning Assets Definition: Net Interest Margin (NIM) is a profitability ratio that measures how well a company is making investment decisions by comparing the income, expenses, and debt of these investments. In other words, this ratio calculates how much money an investment firm or bank is making on its investing operations. This is similar to the gross margin of a regular company. Net interest margin is similar in concept to net interest spread, but the net interest spread is the nominal average difference between the borrowing and the lending rates, without compensating for the fact that the earning assets and the borrowed funds may be different instruments and differ in volume.
  3. 3. [- 3 -] LITERATURE REVIEW Dr. Virender Koundal (2012) concludes that commercial banks in India get favorable effects because of the various reforms. Even though the overall profitability has also improved, the major benefit is taken by the private sector banks and foreign banks whereas public sector banks are still lagging behind on various financial parameters. Seema Malik (2014) has analyzed the effect of technology on transformation of banking in India and also studied the benefits and challenges of changing banking trends. Technology and financial innovations have led to tremendous improvement in banking services and operations over the past decade. Survival, growth and profitability of banks depend upon the organizational effectiveness and operational efficiency in today's competitive scenario where customers ‘needs are changing everyday and technology is touching new highs. Indian Brand Equity Foundation (2015) has studied that Indian banks are focusing on adopting an integrated approach to risk management. Banks have already embraced the international banking supervision accord of Basel II. According to RBI, majority of the banks already meet with the capital requirements of Basel III, which has a deadline of March 31, 2019. Most of the banks have put in place the framework for asset-liability match, credit and derivatives risk management. As per their report, rising incomes are expected to increase the need for banking services in rural areas which will positively affect the growth of the banking sector. The RBI has relaxed its branch licensing policy which emphasized the need to focus on spreading the reach of banking Services to the un-banked population of India. Brock et al., (2000): The cost of funding affects the investment potential and capital allocation of the banks. The increasing cost of intermediation negatively affects the growth potential of the economy. The increasing financial intermediation cost affects banks’ profitability and thus, being a reason for decreasing efficiency of the banking sector as a whole. High interest margin is also considered ‘negatively’ as it leads to ‘disintermediation. Research Gap After the studying above literature following research gap has been observed, the research on NIM did not happened after Dr.Virender Koundal (2012) research paper. So, since last 5 years the research on NIM has not been done.
  4. 4. [- 4 -] OBJECTIVES OF THE RESEARCH  To understand NIM.  To study the profitability of 08 Selected Indian public and private Sector banks.  To find out impact of NIM on ROA. RESEARCH METHODOLOGY RESEARCH TYPE: Analytical Research has used for the research. Researcher has to use facts or information already available, and analyze them to make a critical evaluation of the material. It involves the in-depth study and evaluation of available information in attempts to explain complex phenomenon. SAMPLING METHOD: Researcher wanted to find out characteristics of a population and the objective of the study. Hence, Purposive sampling method has used. Purposive sampling is also known as judgmental, selective, or subjective sampling. SELECTION OF SAMPLE: The Indian Banks were selected for the study. Researcher has undertaken top 4 public banks and private banks each for the study. While selecting the banks researcher consider their market capitalization and market shares. Public Banks Market Shares Market Capitalization Private Banks Market Shares Market Capitalization SBI 23% 221,954.49 Cr AXIS 17.82% 139082.97 Cr BOM 14.40% 3702.8 Cr KOTAK 30.02% 222,208.14 Cr BOB 18% 39828.25 Cr HDFC 19% 503,097.17 Cr BOI 17.70% 19207.62 Cr ICICI 24.88% 184,744.18 Cr SAMPLE SIZE: 08 Indian Banks (04 Public and 04 private sector Banks) PUBLIC BANKS- PRIVATE BANKS- STATE BANK OF INDIA AXIS BANK BANK OF MAHARASHTRA KOTAK MAHINDRA BANK BANK OF BARODA HDFC BANK BANK OF INDIA ICICI BANK DATA COLLECTION - Secondary Data
  5. 5. [- 5 -] Instruments used for data collection-  Annual Reports of 04 Public and 04 private sector Banks  Websites- https://www.moneycontrol.com/ PERIOD OF STUDY: Researcher has undertaken 10 years financial data of selected banks i.e. 2008-2017 for the study. TOOLS USED FOR DATA ANALYSIS A research design is a plan according to which observations are made and data is assembled. The Present study is based on the secondary data and analytical in nature. For measuring various phenomena and analyzing the collected data effectively and efficiently to draw sound conclusions, certain statistical techniques were used. Trend analysis, graphical analysis and descriptive statistics like as Mean has been used. Also researcher used the tools like MS-Excel for analysis purpose. FORMULA- Net Interest Margin = (Investment Income – Interest Expenses) / Average Earning Assets
  6. 6. [- 6 -] DATA ANALYSIS AND INTERPRITATION PUBLIC SECTOR BANKS- STATE BANK OF INDIA Table No. 01- NIM of State Bank of India Year Interest Income Interest Expenses Net Interest Income Total Assets NIM % ROA 2017 175,518.24 113,658.50 61,859.74 2,674,380.65 2.31 0.41 2016 163,685.31 106,803.49 56,881.82 2,259,063.05 2.52 0.46 2015 152,397.07 97,381.82 55,015.25 2,048,079.80 2.69 0.76 2014 136,350.80 87,068.63 49,282.17 1,792,234.60 2.75 0.65 2013 119,657.10 75,325.80 44,331.30 1,566,261.03 2.83 0.91 2012 106,521.45 63,230.37 43,291.08 1,335,519.24 3.24 0.88 2011 81,394.36 48,867.96 32,526.40 1,223,736.21 2.66 0.71 2010 70,993.92 47,322.48 23,671.44 1,053,413.74 2.25 0.88 2009 63,788.43 42,915.29 20,873.14 964,432.08 2.16 1.04 2008 48,950.31 31,929.08 17,021.23 721,526.32 2.36 1.01 Mean 2.58 Graph No. 01- NIM of State Bank of India Interpretation: From the above Table No. 01 it has been observed that, the NIM averaged 2.58%, highest was 3.24% in the year 2012 and lowest was 2.16% in the year 2009. It has been seen that decreasing trend of the NIM since 2013 due to increasing NPA from same period and it’s also resulted on Return on Asset. The ROA in the year 2016 was 0.46% and it became 0.41% in 2017 because decreasing NPA. The low margin is partly affected by a very low return on the investment portion of the balance sheet. However, we have also seen decrease spread on loan and deposit rates over the past five years. 2.31 2.52 2.69 2.75 2.83 3.24 2.66 2.25 2.16 2.36 0.00 0.50 1.00 1.50 2.00 2.50 3.00 3.50 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008
  7. 7. [- 7 -] BANK OF MAHARASHTRA Table No. 02- NIM: Bank of Maharashtra Year Interest Income Interest Expenses Net Interest Income Total Assets NIM % ROA 2017 12,061.96 8,887.27 3,174.69 158,117.52 2.01 -0.86 2016 13,052.99 9,174.29 3,878.70 159,661.55 2.43 0.07 2015 12,665.44 8,790.40 3,875.04 144,640.65 2.68 0.33 2014 11,956.66 8,447.73 3,508.93 135,254.47 2.59 0.3 2013 9,613.43 6,580.08 3,033.35 115,832.53 2.62 0.74 2012 7,213.96 4,696.88 2,517.08 87,642.35 2.87 0.55 2011 5,563.09 3,594.69 1,968.40 75,998.66 2.59 0.47 2010 4,735.56 3,439.31 1,296.25 70,601.22 1.84 -- 2009 4,291.56 3,035.03 1,256.53 58,578.17 2.15 -- 2008 3,540.58 2,311.79 1,228.79 48,134.79 2.55 -- Mean 2.43 Graph No. 02- NIM: Bank of Maharashtra Interpretation: From the Table No. 02 depicts that, the averaged Net Interest Margin of the Bank of Maharashtra was 2.43%, maximum was 2.87% in the year 2012 and minimum was 1.78% in the year 2010. It has been seen that the NIM has decreasing since 2013 due to increasing NPA. The NPA of the Bank of Maharashtra in the year 2013 was 0.52% and in the year 2017 it headed 11.76. The figure roughly translates to near 10% of all loans given. This means that about 11.76% of loans are never paid back, resulting in substantial loss of money to the banks. 2.01 2.43 2.68 2.59 2.62 2.87 2.59 1.84 2.15 2.55 0.00 0.50 1.00 1.50 2.00 2.50 3.00 3.50 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008
  8. 8. [- 8 -] BANK OF INDIA Table No. 03- NIM: Bank of India Year Interest Income Interest Expenses Net Interest Income Total Assets NIM % ROA 2017 46,063.18 27,464.74 18,598.44 626,309.27 2.97 -0.24 2016 45,449.01 30,071.84 15,377.17 609,913.93 2.52 -0.94 2015 47,662.61 32,086.24 15,576.37 618,697.76 2.52 0.03 2014 42,201.94 27,079.57 15,122.37 573,190.20 2.64 0.51 2013 35,674.97 22,884.93 12,790.04 452,602.72 2.83 0.65 2012 31,801.84 20,167.23 11,634.61 383,299.57 3.04 0.72 2011 24,393.49 13,941.03 10,452.46 349,853.08 2.99 0.82 2010 20,494.63 12,122.04 8,372.59 273,537.84 3.06 -- 2009 19,399.22 10,848.45 8,550.77 223,791.46 3.82 -- 2008 14,472.15 8,125.95 6,346.20 177,066.90 3.58 -- Mean 3 Graph No. 03- NIM: Bank of India Interpretation: Table No. 03 showing that, the average Net Interest Margin of the Bank of India was 3.00%, highest was 3.82% in the year 2009 and lowest was 2.52% in the years 2015 & 2016. It’s has been seen that, the NIM of the Bank of India in the year 2017 has increased (2.97%). It has been observed that, the Borrowings of the Bank of India were increased 5.13% as compared to last year (2016) and NPA has also decreased from 7.79 to 6.90. 2.97 2.52 2.52 2.64 2.83 3.04 2.99 3.06 3.82 3.58 0.00 0.50 1.00 1.50 2.00 2.50 3.00 3.50 4.00 4.50 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008
  9. 9. [- 9 -] BANK OF BARODA Table No. 04- NIM: Bank of Baroda Year Interest Income Interest Expenses Net Interest Income Total Assets NIM % ROA 2017 42,199.93 28,686.52 13,513.41 694,875.41 1.94 0.2 2016 44,061.28 31,321.43 12,739.85 671,376.48 1.90 -0.78 2015 42,963.56 29,776.32 13,187.24 714,988.55 1.84 0.49 2014 38,939.71 26,974.36 11,965.35 659,504.53 1.81 0.75 2013 35,196.65 23,881.39 11,315.26 547,135.44 2.07 0.9 2012 29,673.72 19,356.71 10,317.01 447,321.46 2.31 1.24 2011 21,885.92 13,083.66 8,802.26 358,397.18 2.46 1.33 2010 16,698.34 10,758.86 5,939.48 278,316.71 2.13 -- 2009 15,091.58 9,968.17 5,123.41 227,406.73 2.25 -- 2008 11,813.48 7,901.67 3,911.81 179,599.50 2.18 -- Mean 2.09 Graph No. 04- NIM: Bank of Baroda Interpretation: From the Table No. 04 it has been observed that, the average Net Interest Margin of the Bank of Baroda was 2.09%, higher was 2.46% in the year 2011 and lower was 1.81% in the year 2014. It can also be observed that, NIM was decreasing 2012 to 2014 but it also has increasing since 2015 to 2017. Because, NPA have been decreased from 5.06% (2016) to 4.72% in 2017. And it’s resulted on ROA of the Bank of Baroda. ROA of the Bank of Baroda in the year 2016 was -0.78% and it has become 0.20% in the year 2017. 1.94 1.90 1.84 1.81 2.07 2.31 2.46 2.13 2.25 2.18 0.00 0.50 1.00 1.50 2.00 2.50 3.00 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008
  10. 10. [- 10 -] PRIVATE SECTOR BANKS- AXIS BANK Table No. 05- NIM: AXIS BANK Year Interest Income Interest Expenses Net Interest Income Total Assets NIM % ROA 2017 44,542.16 26,449.04 18,093.12 601,467.66 3.01 0.65 2016 40,988.04 24,155.07 16,832.97 525,467.61 3.20 1.72 2015 35,478.60 21,254.46 14,224.14 461,932.39 3.08 1.83 2014 30,641.16 18,689.52 11,951.64 383,244.89 3.12 1.78 2013 27,182.57 17,516.31 9,666.26 340,560.67 2.84 1.7 2012 21,994.65 13,976.90 8,017.75 285,627.80 2.81 1.68 2011 15,154.81 8,591.82 6,562.99 242,713.37 2.70 1.68 2010 11,638.02 6,633.53 5,004.49 180,647.87 2.77 -- 2009 10,835.49 7,149.27 3,686.22 147,722.06 2.50 -- 2008 7,005.32 4,419.96 2,585.36 109,577.84 2.36 -- Mean 2.84 Graph No. 05- NIM: AXIS BANK Interpretation: From the table No. 05 it has been seen that, the average Net Interest Margin of Axis Bank was 2.84%. Higher was 3.20% in the year 2016 and lower was 2.36% in 2008. It means the NIM of Axis bank has increased till 2016 but, in 2017 it’s declined by 3.01%, it also resulted in ROA of the bank. The ROA in the year 2016 was 1.72% and in 2017 it became 0.65%. It has been observed that, the NPA of Axis Bank has increased in 2017 (0.70 to 2.11). 3.01 3.20 3.08 3.12 2.84 2.81 2.70 2.77 2.50 2.36 0.00 0.50 1.00 1.50 2.00 2.50 3.00 3.50 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008
  11. 11. [- 11 -] KOTAK MAHINDRA BANK Table No. 06- NIM: KOTAK MAHINDRA BANK Year Interest Income Interest Expenses Net Interest Income Total Assets NIM % ROA 2017 17,698.93 9,572.78 8,126.15 214,589.96 3.79 1.73 2016 16,384.18 9,483.81 6,900.37 192,259.79 3.59 1.19 2015 9,719.87 5,496.13 4,223.74 106,012.08 3.98 1.98 2014 8,767.12 5,047.07 3,720.05 87,585.34 4.25 1.8 2013 8,042.49 4,836.82 3,205.67 83,693.68 3.83 1.81 2012 6,180.24 3,667.75 2,512.49 65,666.79 3.83 1.83 2011 4,189.75 2,092.18 2,097.57 50,850.67 4.12 1.77 2010 3,255.62 1,397.48 1,858.14 37,436.31 4.96 -- 2009 3,065.14 1,546.60 1,518.54 28,711.88 5.29 -- 2008 2,535.36 1,309.56 1,225.80 28,312.36 4.33 -- Mean 4.20 Graph No. 06- NIM: KOTAK MAHINDRA BANK Interpretation: Table No. 06 shows that, the average Net Interest Margin of Kotak Mahindra Bank was 4.20%, maximum was 5.29% in the year 2009 and minimum was 3.59% in the year 2016. It has been seen that the NIM of bank has fluctuating throughout the years. NIM has increased in 2017 due to increased in Interest Income by 7.71% in the same year. 3.79 3.59 3.98 4.25 3.83 3.83 4.12 4.96 5.29 4.33 0.00 1.00 2.00 3.00 4.00 5.00 6.00 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008
  12. 12. [- 12 -] HDFC BANK Table No. 07- NIM: HDFC BANK Year Interest Income Interest Expenses Net Interest Income Total Assets NIM % ROA 2017 69,305.96 36,166.73 33,139.23 863,840.20 3.84 1.88 2016 60,221.45 32,629.93 27,591.52 708,845.57 3.89 1.92 2015 48,469.90 26,074.24 22,395.66 590,503.07 3.79 2 2014 41,135.53 22,652.90 18,482.63 491,599.50 3.76 2 2013 35,064.87 19,253.75 15,811.12 400,331.90 3.95 1.9 2012 27,286.35 14,989.58 12,296.77 337,909.49 3.64 1.8 2011 19,928.21 9,385.08 10,543.13 277,352.61 3.80 1.6 2010 16,172.90 7,786.30 8,386.60 222,458.56 3.77 -- 2009 16,332.26 8,911.10 7,421.16 183,270.78 4.05 -- 2008 10,115.00 4,887.12 5,227.88 133,176.60 3.93 -- Mean 3.84 Graph No. 07- NIM: HDFC BANK Interpretation: The Table No. 07 depicts that, the average NIM of HDFC Bank was 3.84%, maximum was 4.05% in the year 2009 and minimum was 3.64% in the year 2012. The low margin is affected by increasing in deposits. However, researcher has also seen decreased spread on Loan rates over the last five years. 3.84 3.89 3.79 3.76 3.95 3.64 3.80 3.77 4.05 3.93 3.40 3.50 3.60 3.70 3.80 3.90 4.00 4.10 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008
  13. 13. [- 13 -] ICICI BANK Table No. 08- NIM: ICICI BANK Year Interest Income Interest Expenses Net Interest Income Total Assets NIM % ROA 2017 54,156.28 32,418.96 21,737.32 768,749.32 2.83 1.1 2016 52,739.43 31,515.39 21,224.04 717,877.63 2.96 1.49 2015 49,091.14 30,051.53 19,039.61 646,129.29 2.95 1.86 2014 44,178.15 27,702.59 16,475.56 594,641.60 2.77 1.78 2013 40,075.60 26,209.18 13,866.42 536,794.69 2.58 1.7 2012 33,542.65 22,808.50 10,734.15 473,647.09 2.27 1.5 2011 25,974.05 16,957.15 9,016.90 406,233.67 2.22 1.35 2010 25,706.93 17,592.57 8,114.36 363,399.71 2.23 -- 2009 31,092.55 22,725.93 8,366.62 379,300.96 2.21 -- 2008 30,788.34 23,484.24 7,304.10 399,795.07 1.83 -- Mean 2.48 Graph No. 08- NIM: ICICI BANK Interpretation: From the table No. 08 it has been seen that, the average Net Interest Margin of ICICI Bank was 2.48%. Higher was 2.96% in the year 2016 and lower was 1.83% in 2008. It has been seen that, the increasing trend of NIM of ICICI bank till 2016, in 2017 it’s declined by 2.83% due to increased in NPA. The NPA of the Bank was 2.67% in the year 2016 but, it increased in 2017 by 4.89%. It’s also resulted in ROA of the bank. The ROA in the year 2016 was 1.49% and in 2017 it became 1.10%. 2.83 2.96 2.95 2.77 2.58 2.27 2.22 2.23 2.21 1.83 0.00 0.50 1.00 1.50 2.00 2.50 3.00 3.50 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008
  14. 14. [- 14 -] FINDINGS NIM Year SBI BOM BOI BOB AXIS KOTAK HDFC ICICI 2017 2.31 2.01 2.97 1.94 3.01 3.79 3.84 2.83 2016 2.52 2.43 2.52 1.90 3.20 3.59 3.89 2.96 2015 2.69 2.68 2.52 1.84 3.08 3.98 3.79 2.95 2014 2.75 2.59 2.64 1.81 3.12 4.25 3.76 2.77 2013 2.83 2.62 2.83 2.07 2.84 3.83 3.95 2.58 2012 3.24 2.87 3.04 2.31 2.81 3.83 3.64 2.27 2011 2.66 2.59 2.99 2.46 2.70 4.12 3.80 2.22 2010 2.25 1.84 3.06 2.13 2.77 4.96 3.77 2.23 2009 2.16 2.15 3.82 2.25 2.50 5.29 4.05 2.21 2008 2.36 2.55 3.58 2.18 2.36 4.33 3.93 1.83 Mean 2.58 2.43 3.00 2.09 2.84 4.20 3.84 2.48 PUBLIC SECTOR BANKS  The NPA of the State Bank of India has been decreasing since 2013 and it’s affected on NIM for same period. Deposits are rapidly increasing as compare to borrowings.  Borrowings of Bank of Maharashtra are 178 times lower than deposits; hence it resulted into Lower NIM i.e. 2.01%. The NPA of the Bank in the year 2017 was 11.76%. This means that about 11.76% of loans are never paid back, resulting in substantial loss of money to the banks.  The Net Interest Income of the Bank of India has increased in the year 2017 i.e. 2.97%. Because in this year NPA has decreased from 7.79% to 6.90% and borrowing are increased up to 5.13%.  Bank of Baroda has increasing trend of the NIM since 2014. And the NPA of the Bank is decreasing since 2013. It means the performance of Bank of Baroda is being very well. PRIVATE SECTOR BANKS  The NIM of Axis bank has increased till 2016 but, in 2017 it’s declined by 3.01%, It has been observed that, the NPA of Axis Bank has increased in 2017 (0.70 to 2.11) and resulted on ROA too. The ROA of the Axis Bank was 1.72% in the year 2016 and in 2017 it became 0.65%.  It has been seen that the Net Interest Margin of Kotak Mahindra bank is fluctuating throughout the years. NIM has increased in 2017 due to increased in Interest Income by 7.71%.  The low margin of HDFC Bank is affected by increasing in deposits. However, researcher has also seen decreased spread on Loan rates over the last five years.
  15. 15. [- 15 -]  It has been seen that, the increasing trend of NIM of ICICI bank till 2016, in 2017 it’s declined by 2.83% due to increased in NPA. The ROA in the year 2016 was 1.49% and in 2017 it became 1.10% due to increased in NPA. CONCLUSION The study observed that variables such as size, NPA, cost (in) efficiency, deposit concentration and economic growth are important in determining the banks’ behavior regarding their interest margin. In this research, researcher has attempted to measure NIM to find out profitability performance of 4 Indian public Banks i.e. State Bank of India, Bank of Maharashtra, Bank of India and Bank of Baroda. At the end, it is concluded the NIM made by calculating Interest Income and Interest Expenses for 8 Indian Public & Private sector Banks and result portrays that Private sector Banks (ICICI and Axis Bank) having better NIM rather than Bank of Maharashtra and State Bank of India.
  16. 16. [- 16 -] REFERENCES  Tushar B. Das (2013): “Net Interest Margin, Financial Crisis and Bank Behavior: Experience of Indian Banks”, Department of Economic and Policy Research, November 2013.  Sami Ben Naceur & Mohamed Goaied (2016): “The Determinants of Commercial Bank Interest Margin and Profitability”, Published in Frontiers in Finance and Economics, Vol. 5, No. 1, 106-130.  Meshesha Demie Jima (2017): “Determinants of Net Interest Margin in the Ethiopian Banking Industry”, Published in Journal of Finance and Economics, 2017, Vol. 5, No. 3, 96-104.  G Hanweck (‎2005): “The Sensitivity of Bank Net Interest Margins and Profitability to Credit, Interest-Rate, and Term-Structure Shocks across Bank Product Specializations”, Published in Professor of Finance School of Management George Mason University.  Nilesh Vitthal Limbore (2014): “Study of banking sector in India and overview of performance of Indian banks with reference to net interest margin and market capitalization of banks” (ISSN No : 2249-894X) ANNUAL REPORTS State Bank of India Annual Reports (2008-2017) Bank of Maharashtra Annual Reports (2008-2017) Bank of India Annual Reports (2008-2017) Bank of Baroda Annual Reports (2008-2017) Axis Bank Annual Reports (2008-2017) Kotak Mahindra Bank Annual Reports (2008-2017) HDFC Bank Annual Reports (2008-2017) ICICI Bank Annual Reports (2008-2017) WEBSITES https://www.moneycontrol.com/ https://www.shodhganga.inflibnet.ac.in/ https://efinancemanagement.com/ https://www.researchgate.net/publication/273676328 https://www.rbi.org.in/scripts/PublicationsView.aspx?id=15418 http://pubs.sciepub.com/jfe/5/3/2
  17. 17. [- 17 -] ANNEXURE Balance Sheet of State Bank of India (in Rs. Cr.) Mar '17 Mar '16 Mar '15 Mar '14 Mar '13 Mar '12 Mar '11 Mar '10 Mar '09 Mar '08 Capital and Liabilities: Total Share Capital 797.35 776.28 746.57 746.57 684.03 671.04 635 634.88 634.8 8 631.4 7 Equity Share Capital 797.35 776.28 746.57 746.57 684.03 671.04 635 634.88 634.8 8 631.4 7 Reserves 155,90 3.06 143,49 8.16 127,69 1.65 117,53 5.68 98,199. 65 83,280. 16 64,351. 04 65,314. 32 57,31 2.82 48,40 1.19 Net Worth 156,70 0.41 144,27 4.44 128,43 8.22 118,28 2.25 98,883 .68 83,951 .20 64,986 .04 65,949 .20 57,94 7.70 49,03 2.66 Deposits 2,044,7 51.39 1,730,7 22.44 1,576,7 93.24 1,394,4 08.51 1,202,7 39.57 1,043,6 47.36 933,93 2.81 804,11 6.23 742,0 73.13 537,4 03.94 Borrowin gs 317,69 3.66 224,19 0.59 205,15 0.29 183,13 0.88 169,18 2.71 127,00 5.57 119,56 8.96 103,01 1.60 53,71 3.68 51,72 7.41 Total Debt 2,362, 445.05 1,954, 913.03 1,781, 943.53 1,577, 539.39 1,371, 922.28 1,170, 652.93 1,053, 501.77 907,12 7.83 795,7 86.81 589,1 31.35 Other Liabilities & Provision s 155,23 5.19 159,87 5.57 137,69 8.05 96,412. 96 95,455. 07 80,915. 09 105,24 8.39 80,336. 70 110,6 97.57 83,36 2.30 Total Liabilitie s 2,674, 380.65 2,259, 063.04 2,048, 079.80 1,792, 234.60 1,566, 261.03 1,335, 519.22 1,223, 736.20 1,053, 413.73 964,4 32.08 721,5 26.31 Assets Cash & Balances with RBI 127,99 7.62 129,62 9.33 115,88 3.84 84,955. 66 65,830. 41 54,075. 94 94,395. 50 61,290. 87 55,54 6.17 51,53 4.62 Balance with Banks, Money at Call 43,974. 03 37,838. 33 58,977. 46 47,593. 97 48,989. 75 43,087. 23 28,478. 65 34,892. 98 48,85 7.63 15,93 1.72 Advances 1,571, 078.38 1,463, 700.42 1,300, 026.39 1,209, 828.72 1,045, 616.55 867,57 8.89 756,71 9.45 631,91 4.15 542,5 03.20 416,7 68.20 Investme nts 765,98 9.63 477,09 7.28 495,02 7.40 398,30 8.19 350,92 7.27 312,19 7.61 295,60 0.57 285,79 0.07 275,9 53.96 189,5 01.27 Gross Block 42,344. 99 9,819.1 6 9,329.1 6 8,002.1 6 6,595.7 1 5,133.8 7 4,431.9 6 11,831. 63 10,40 3.06 8,988. 35 Revaluati on Reserves 31,585. 65 0 0 0 0 0 0 7,713.9 0 6,828. 65 5,849. 13 Net Block 10,759 .34 9,819. 16 9,329. 16 8,002. 16 6,595. 71 5,133. 87 4,431. 96 4,117. 73 3,574. 41 3,139. 22 Capital Work In Progress 573.93 570.12 0 0 409.31 332.68 332.23 295.18 263.4 4 234.2 6 Other Assets 154,00 7.72 140,40 8.41 68,835. 55 43,545. 90 47,892. 03 53,113. 02 43,777. 85 35,112. 76 37,73 3.27 44,41 7.03 Total Assets 2,674, 380.65 2,259, 063.05 2,048, 079.80 1,792, 234.60 1,566, 261.03 1,335, 519.24 1,223, 736.21 1,053, 413.74 964,4 32.08 721,5 26.32 Continge nt Liabilities 1,112,0 81.35 1,064,1 67.65 225,24 4.99 203,61 9.38 993,01 8.45 899,56 5.18 790,38 9.59 429,91 7.37 614,6 03.47 736,0 87.59 Bills for collection 196.53 185.85 172.04 1,584.3 4 1,445.6 0 0 0 166,44 9.04 152,9 64.06 93,65 2.89 Book Value (Rs) 196.53 185.85 172.04 1,584.3 4 1,445.6 0 1,251.0 5 1,023.4 0 1,038.7 6 912.7 3 776.4 8
  18. 18. [- 18 -] State Bank Of India Profit & Loss Account Mar-17 Mar-16 Mar-15 Mar-14 Mar-14 Mar-13 Mar-12 Mar-11 INCOME Interest / Discount on Advances / Bills 119,510. 00 115,666. 01 112,343. 91 102,484. 10 102,484. 10 90,537.1 0 81,077.7 0 59,976.0 1 Income from Investments 48,205.3 1 42,303.9 8 37,087.7 7 31,941.8 7 31,941.8 7 27,200.6 3 23,949.1 4 19,826.3 7 Interest on Balance with RBI and Other Inter- Bank funds 1,753.47 621.07 505.12 409.31 409.31 545.14 350.47 235.66 Others 6,049.46 5,094.25 2,460.27 1,515.52 1,515.52 1,374.23 1,144.14 1,356.33 Total Interest Earned 175,518. 24 163,685. 31 152,397. 07 136,350. 80 136,350. 80 119,657. 10 106,521. 45 81,394. 36 Other Income 35,460.9 3 28,158.3 6 22,575.8 9 18,552.9 2 18,552.9 2 16,034.8 4 14,351.4 5 15,824.5 9 Total Income 210,979. 17 191,843. 67 174,972. 96 154,903. 72 154,903. 72 135,691. 94 120,872. 90 97,218. 96 EXPENDITURE Interest Expended 113,658. 50 106,803. 49 97,381.8 2 87,068.6 3 87,068.6 3 75,325.8 0 63,230.3 7 48,867.9 6 Payments to and Provisions for Employees 26,489.2 8 25,113.8 2 23,537.0 7 22,504.2 8 22,504.2 8 18,380.9 0 16,974.0 4 15,211.6 2 Depreciation 2,293.31 1,700.30 1,116.49 1,333.94 1,333.94 1,139.61 1,007.17 990.5 Operating Expenses (excludes Employee Cost & Depreciation ) 17,690.1 8 14,968.2 4 14,024.0 8 11,887.6 3 11,887.6 3 9,763.91 8,087.78 6,813.32 Total Operating Expenses 46,472.7 7 41,782.3 7 38,677.6 4 35,725.8 5 35,725.8 5 29,284.4 2 26,068.9 9 23,015. 43 Provision Towards Income Tax 4,033.29 3,577.93 6,689.95 4,227.47 4,227.47 5,951.06 6,335.37 5,709.54 Provision Towards Deferred Tax 337.78 245.47 -477.56 1,055.25 1,055.25 -107.97 455.93 976.82 Other Provisions and Contingencie s 35,992.7 2 29,483.7 5 469.95 15,935.3 5 -112.16 11,130.8 3 13,068.9 5 10,381.3 4 Total Provisions and Contingenci es 40,363.7 9 33,307.1 5 25,811.9 3 21,218.0 7 21,218.0 7 16,976.7 4 19,866.2 5 17,071. 05 Total Expenditure 200,495. 07 181,893. 01 161,871. 39 144,012. 55 144,012. 55 121,586. 96 109,165. 61 88,954. 44 Net Profit / Loss for The Year 10,484.1 0 9,950.65 13,101.5 7 10,891.1 7 10,891.1 7 14,104.9 8 11,707.2 9 8,264.5 2 Net Profit / Loss After EI & Prior Year Items 10,484.1 0 9,950.65 13,101.5 7 10,891.1 7 10,891.1 7 14,104.9 8 11,707.2 9 7,370.3 5
  19. 19. [- 19 -] Profit / Loss Brought Forward 0.32 0.32 0.32 0.34 0.34 0.34 0.34 0.34 Total Profit / Loss available for Appropriati ons 10,484.4 2 9,950.98 13,101.8 9 10,891.5 1 10,891.5 1 14,105.3 2 11,713.3 4 7,370.6 9 APPROPRIATIONS Transfer To / From Statutory Reserve 3,145.23 2,985.20 4,029.08 3,339.62 3,339.62 4,417.86 3,516.98 2,479.36 Transfer To / From Capital Reserve 1,493.39 345.27 0 0 0 19.17 14.38 9.61 Transfer To / From Revenue And Other Reserves 3,430.55 4,267.35 5,994.56 5,013.40 5,013.40 6,453.26 5,536.50 2,729.87 Dividend and Dividend Tax for The Previous Year 0 0.01 0 0.01 0.01 0 0 0 Equity Share Dividend 2,108.56 2,018.32 2,557.28 2,239.71 2,239.71 2,838.74 2,348.66 1,905.00 Tax On Dividend 306.38 334.51 520.65 298.45 298.45 375.95 296.49 246.52 Balance Carried Over To Balance Sheet 0.32 0.32 0.32 0.32 0.32 0.34 0.34 0.34 Total Appropriati ons 10,484.4 2 9,950.98 13,101.8 9 10,891.5 1 10,891.5 1 14,105.3 2 11,713.3 4 7,370.6 9 EARNINGS PER SHARE Basic EPS (Rs.) 13.43 12.98 17.55 156.76 156.76 210.06 184.31 130.16 Diluted EPS (Rs.) 13.43 12.98 17.55 156.76 156.76 210.06 184.31 130.16 DIVIDEND PERCENTAGE Equity Dividend Rate (%) 260 260 350 300 300 415 350 300
  20. 20. [- 20 -] Balance Sheet of Bank of Maharashtra (in Rs. Cr.) Mar '17 Mar '16 Mar '15 Mar '14 Mar '13 Mar '12 Mar '11 Mar '10 Mar '09 Mar '08 Capital and Liabilities: Total Share Capital 1,168.3 3 1,168.3 3 1,063.1 8 1,427.1 0 1,249.4 8 1,177. 59 1,069. 71 430.52 430.52 430.52 Equity Share Capital 1,168.3 3 1,168.3 3 1,063.1 8 839.1 661.48 589.59 481.71 430.52 430.52 430.52 Preferenc e Share Capital 0 0 0 588 588 588 588 0 0 0 Reserves 5,004.7 3 6,323.0 3 5,626.0 2 4,875.4 7 4,027.2 1 3,170. 04 2,457. 67 1,973. 32 1,634. 48 1,334. 87 Net Worth 6,173.0 6 7,491.3 6 6,689.2 0 6,302.5 7 5,276.6 9 4,347. 63 3,527. 38 2,403. 84 2,065. 00 1,765. 39 Deposits 139,052 .84 138,989 .82 122,118 .94 116,803 .09 94,336. 93 76,528 .65 66,844 .74 63,304 .07 52,254 .92 41,758 .33 Borrowin gs 8,136.6 5 9,228.1 0 11,126. 72 8,326.4 7 12,877. 49 3,824. 75 3,076. 56 2,796. 95 190.01 199.25 Total Debt 147,18 9.49 148,21 7.92 133,24 5.66 125,12 9.56 107,21 4.42 80,35 3.40 69,92 1.30 66,10 1.02 52,44 4.93 41,95 7.58 Other Liabilitie s & Provisio ns 4,754.9 7 3,952.2 6 4,705.7 9 3,822.3 5 3,341.4 5 2,941. 33 2,549. 99 2,096. 36 4,068. 23 4,411. 83 Total Liabiliti es 158,11 7.52 159,66 1.54 144,64 0.65 135,25 4.48 115,83 2.56 87,64 2.36 75,99 8.67 70,60 1.22 58,57 8.16 48,13 4.80 Assets Cash & Balances with RBI 15,274. 72 8,382.2 9 6,652.7 5 5,991.3 9 5,265.2 9 4,535. 48 3,846. 00 5,315. 39 3,881. 42 3,893. 88 Balance with Banks, Money at Call 1,367.3 0 937.86 100.36 110.91 907.55 1,208. 78 203.35 1,379. 16 223.92 332.05 Advance s 95,515. 23 107,56 2.67 98,599. 10 88,920. 40 75,470. 78 56,05 9.76 46,88 0.77 40,31 4.70 34,29 0.77 29,28 5.81 Investm ents 38,590. 18 36,230. 87 36,714. 79 37,249. 58 31,430. 31 22,91 1.36 22,49 1.08 21,32 3.85 18,38 2.14 12,28 2.95 Gross Block 1,586.0 8 1,694.4 2 1,432.1 7 1,446.0 1 1,429.4 7 600.65 666.79 1,248. 76 1,169. 25 669.78 Revaluati on Reserves 1,206.4 6 1,295.7 8 1,378.1 3 1,065.5 8 1,120.2 6 375.03 443.55 454.57 452.19 16.12 Net Block 379.62 398.64 54.04 380.43 309.21 225.6 2 223.2 4 204.9 6 202.6 2 204.3 1 Other Assets 6,990.4 7 6,149.2 2 2,519.6 1 2,601.7 6 2,449.3 9 2,701. 35 2,354. 22 2,063. 16 1,597. 30 2,135. 79 Total Assets 158,11 7.52 159,66 1.55 144,64 0.65 135,25 4.47 115,83 2.53 87,64 2.35 75,99 8.66 70,60 1.22 58,57 8.17 48,13 4.79 Continge nt Liabilitie s 33,350. 67 33,727. 87 34,340. 61 28,187. 16 26,910. 75 20,833 .48 16,516 .55 16,413 .30 14,186 .93 4,515. 21 Book Value (Rs) 52.84 64.12 62.92 68.1 70.88 63.77 61.02 55.84 47.97 41.01
  21. 21. [- 21 -] Bank Of Maharashtra Profit & Loss Account Mar-17 Mar-16 Mar-15 Mar-14 Mar-13 Mar-12 Mar-11 INCOME Interest / Discount on Advances / Bills 8,469.96 9,934.83 9,820.78 9,187.15 7,298.50 5,490.63 4,006.14 Income from Investments 2,829.47 2,735.20 2,751.48 2,543.03 2,231.28 1,708.57 1,520.30 Interest on Balance with RBI and Other Inter-Bank funds 401.91 52.02 57.07 150.63 81.7 1.52 25.13 Others 360.62 330.94 36.12 75.84 1.95 13.24 11.52 Total Interest Earned 12,061.96 13,052.99 12,665.44 11,956.66 9,613.43 7,213.96 5,563.09 Other Income 1,508.07 1,019.29 1,005.98 894.19 912 640.67 530.86 Total Income 13,570.03 ######## 13,671.42 12,850.85 10,525.43 7,854.63 6,093.95 EXPENDITURE Interest Expended 8,887.27 9,174.29 8,790.40 8,447.73 6,580.08 4,696.88 3,594.69 Payments to and Provisions for Employees 1,807.29 1,540.98 1,633.21 1,595.76 1,187.82 1,113.02 1,157.08 Depreciation 117.62 149.2 115.28 99.99 73.93 65.66 67.86 Operating Expenses (excludes Employee Cost & Depreciation) 930.78 862.63 777.43 701 534.9 463.84 419.29 Total Operating Expenses 2,855.70 2,552.81 2,525.93 2,396.75 1,796.64 1,642.52 1,644.22 Provision Towards Income Tax 0 322.51 449.29 307.88 363.2 199.85 183.67 Provision Towards Deferred Tax 0 227.59 0 78.75 226.43 28.29 0 Other Provisions and Contingencies 3,199.58 1,694.39 1,455.11 1,233.77 799.56 856.27 340.97 Total Provisions and Contingencies 3,199.58 2,244.49 1,904.40 1,620.40 1,389.19 1,084.41 524.64 Total Expenditure 14,942.54 13,971.59 ######## 12,464.88 9,765.91 7,423.80 5,763.56 Net Profit / Loss for The Year -1,372.51 100.69 450.69 385.97 759.52 430.83 330.39 Net Profit / Loss After EI & Prior Year Items -1,372.51 100.69 450.69 385.97 759.52 430.83 330.39 Profit / Loss Brought Forward 59.64 136.51 30.14 0 445.35 365.45 284.88 Total Profit / Loss available for Appropriations -1,312.87 237.19 480.83 385.97 1,204.87 796.27 615.27 APPROPRIATIONS Transfer To / From Statutory Reserve 0 25.17 112.67 96.49 189.88 107.71 82.6 Transfer To / From Special Reserve 0 130 50 75 150 25 12 Transfer To / From Capital Reserve 87.25 28.83 35.39 12.86 20.63 2.54 3.04
  22. 22. [- 22 -] Transfer To / From Investment Reserve -8.12 0 14.06 11.39 16.11 0 5.34 Transfer To / From Revenue And Other Reserves 0 -6.76 30.14 0 445.35 0 0 Equity Share Dividend 0 0 85.05 83.91 152.14 129.71 96.34 Preference Share Dividend 0 0 0 52.92 49.98 55.86 29.59 Tax On Dividend 0 0.31 17.01 23.25 34.35 30.1 20.92 Balance Carried Over To Balance Sheet -1,392.00 59.64 136.51 30.14 146.43 445.35 365.45 Total Appropriations -1,312.87 237.19 480.83 385.97 1,204.87 796.27 615.27 EARNINGS PER SHARE Basic EPS (Rs.) -11.75 0.91 4.5 4.56 11.88 7.59 6.86 Diluted EPS (Rs.) -11.75 0.91 4.5 4.56 11.88 7.59 6.86 DIVIDEND PERCENTAGE Equity Dividend Rate (%) 0 0 8 10 23 22 20
  23. 23. [- 23 -] Balance Sheet of Bank of Baroda (in Rs. Cr.) Mar '17 Mar '16 Mar '15 Mar '14 Mar '13 Mar '12 Mar '11 Mar '10 Mar '09 Mar '08 Capital and Liabilities: Total Share Capital 462.09 462.09 443.56 430.68 422.52 412.38 392.81 365.53 365.53 365.53 Equity Share Capital 462.09 462.09 443.56 430.68 422.52 412.38 392.81 365.53 365.53 365.53 Reserve s 39,841. 16 39,736. 89 39,391. 79 35,555. 00 31,546. 92 27,064. 47 20,650. 73 14,740. 86 12,470. 01 10,678. 40 Net Worth 40,303 .25 40,198 .98 39,835 .35 35,985 .68 31,969 .44 27,476 .85 21,043 .54 15,106 .39 12,835 .54 11,043 .93 Deposits 601,67 5.17 574,03 7.87 617,55 9.52 568,89 4.39 473,88 3.34 384,87 1.11 305,43 9.48 241,04 4.26 192,39 6.95 152,03 4.13 Borrowi ngs 30,611. 44 33,471. 70 35,264. 28 36,812. 97 26,579. 28 23,573. 05 22,307. 85 13,350. 09 5,636.0 9 3,927.0 5 Total Debt 632,28 6.61 607,50 9.57 652,82 3.80 605,70 7.36 500,46 2.62 408,44 4.16 327,74 7.33 254,39 4.35 198,03 3.04 155,96 1.18 Other Liabilitie s & Provisio ns 22,285. 56 23,667. 92 22,329. 40 17,811. 50 14,703. 38 11,400. 46 9,606.3 1 8,815.9 7 16,538. 15 12,594. 41 Total Liabiliti es 694,87 5.42 671,37 6.47 714,98 8.55 659,50 4.54 547,13 5.44 447,32 1.47 358,39 7.18 278,31 6.71 227,40 6.73 179,59 9.52 Assets Cash & Balance s with RBI 22,780. 21 21,672. 42 22,488. 60 18,629. 09 13,452. 08 21,651. 46 19,868. 18 13,539. 97 10,596. 34 9,369.7 2 Balance with Banks, Money at Call 127,68 9.70 112,22 7.93 125,86 4.55 112,24 8.82 71,946. 83 42,517. 08 30,065. 89 21,927. 09 13,490. 77 12,929. 56 Advanc es 383,25 9.22 383,77 0.18 428,06 5.14 397,00 5.81 328,18 5.76 287,37 7.29 228,67 6.36 175,03 5.29 143,98 5.90 106,70 1.32 Investm ents 129,63 0.54 120,45 0.52 122,31 9.72 116,11 2.66 121,39 3.72 83,209 .40 71,396 .59 61,182 .38 52,445 .88 43,870 .07 Gross Block 5,758.3 7 6,253.7 8 2,874.8 5 2,734.1 2 2,453.1 2 2,341.5 0 2,299.7 2 4,266.6 0 3,954.1 3 3,787.1 4 Net Block 5,758. 37 6,253. 78 2,874. 85 2,734. 12 2,453. 12 2,341. 50 2,299. 72 2,284. 76 2,309. 72 2,427. 00 Other Assets 25,757. 37 27,001. 65 13,375. 69 12,774. 03 9,703.9 3 10,224. 73 6,090.4 4 4,347.2 2 4,578.1 2 4,301.8 3 Total Assets 694,87 5.41 671,37 6.48 714,98 8.55 659,50 4.53 547,13 5.44 447,32 1.46 358,39 7.18 278,31 6.71 227,40 6.73 179,59 9.50 Conting ent Liabiliti es 290,11 8.38 261,32 0.91 283,99 2.78 291,77 7.69 230,58 1.15 175,26 9.81 146,00 8.59 77,997. 01 64,745. 82 75,364. 33 Book Value (Rs) 174.92 174.46 180.13 838.02 758.91 668.34 537.45 414.71 352.37 303.18
  24. 24. [- 24 -] Bank Of Baroda Profit & Loss Account Mar-17 Mar-16 Mar-15 Mar-14 Mar-13 Mar-12 Mar-11 INCOME Interest / Discount on Advances / Bills 27,523.93 29,796.23 30,802.68 27,878.09 25,867.06 22,369.41 16,183.76 Income from Investments 10,596.33 10,673.22 9,701.07 8,695.99 7,483.39 6,184.73 4,774.78 Interest on Balance with RBI and Other Inter-Bank funds 1,990.86 1,305.92 1,549.79 1,533.86 1,443.02 837.43 494.49 Others 2,088.81 2,285.90 910.01 831.76 403.19 282.15 432.88 Total Interest Earned 42,199.93 44,061.28 42,963.56 38,939.71 35,196.65 29,673.72 21,885.92 Other Income 6,758.06 4,998.86 4,402.00 4,462.74 3,630.62 3,422.33 2,809.19 Total Income 48,957.99 49,060.14 47,365.55 43,402.45 38,827.28 33,096.05 24,695.10 EXPENDITURE Interest Expended 28,686.52 31,321.43 29,776.32 26,974.36 23,881.39 19,356.71 13,083.66 Payments to and Provisions for Employees 4,637.77 4,978.03 4,261.35 4,139.72 3,449.65 2,985.58 2,916.78 Depreciation 511.35 501.33 340.39 345.03 300.64 276.57 243.04 Operating Expenses (excludes Employee Cost & Depreciation) 4,147.28 3,443.78 3,072.39 2,652.32 2,196.45 1,896.57 1,470.01 Total Operating Expenses 9,296.40 8,923.14 7,674.13 7,137.07 5,946.74 5,158.72 4,629.83 Provision Towards Income Tax 1,089.56 1,769.84 2,022.17 956.23 350.51 1,018.84 1,408.64 Provision Towards Deferred Tax 0 -3,072.38 0 0 0 0 0 Other Provisions and Contingencies 8,502.37 15,513.65 4,494.50 3,793.71 4,167.92 2,554.83 1,331.29 Total Provisions and Contingencies 9,591.93 14,211.11 6,516.67 4,749.94 4,518.43 3,573.67 2,739.93 Total Expenditure 47,574.85 54,455.68 43,967.12 38,861.37 34,346.56 28,089.10 20,453.42 Net Profit / Loss for The Year 1,383.14 -5,395.54 3,398.44 4,541.08 4,480.72 5,006.96 4,241.68 Net Profit / Loss After EI & Prior Year Items 1,383.14 -5,395.54 3,398.44 4,541.08 4,480.72 5,006.96 4,241.68
  25. 25. [- 25 -] Total Profit / Loss available for Appropriations 1,383.14 -5,395.54 3,398.44 4,541.08 4,480.72 5,006.96 4,241.68 APPROPRIATIONS Transfer To / From Statutory Reserve 345.78 0 849.61 1,135.27 1,120.18 1,251.74 1,060.42 Transfer To / From Special Reserve 350.92 0 1,093.90 912.07 850 533.85 335.39 Transfer To / From Capital Reserve 353.65 0 108.21 8.69 81.45 22.4 21 Transfer To / From General Reserve 0 -5,395.54 364.57 1,401.38 1,369.47 2,453.86 2,100.46 Transfer To / From Investment Reserve 0 0 130.46 0 0 -68.74 -31.4 Equity Share Dividend 332.79 0 727.97 923.24 905.74 694.32 646.05 Tax On Dividend 0 0 123.71 160.43 153.89 117.97 107.3 Total Appropriations 1,383.14 -5,395.54 3,398.44 4,541.08 4,480.72 5,006.96 4,241.68 EARNINGS PER SHARE Basic EPS (Rs.) 6 -23.89 16 107 109 128 116 Diluted EPS (Rs.) 6 -23.89 16 107 109 128 116 DIVIDEND PERCENTAGE Equity Dividend Rate (%) 60 0 160 215 215 170 165
  26. 26. [- 26 -] Balance Sheet of Bank of India (in Rs. Cr.) Mar '17 Mar '16 Mar '15 Mar '14 Mar '13 Mar '12 Mar '11 Mar '10 Mar '09 Mar '08 Capital and Liabilities: Total Share Capital 1,055.4 3 817.29 665.65 643 596.64 574.52 547.22 525.91 525.91 525.91 Equity Share Capital 1,055.4 3 817.29 665.65 643 596.64 574.52 547.22 525.91 525.91 525.91 Reserve s 29,709. 72 30,196. 28 30,781. 09 29,280. 08 23,321. 51 19,151. 38 15,423. 99 12,275. 46 11,258. 72 8,300.3 8 Net Worth 32,487 .07 32,317 .22 31,446 .74 29,923 .08 23,918 .15 19,725 .90 15,971 .21 12,801 .37 11,784 .63 8,826. 29 Deposits 540,03 2.01 513,00 4.52 531,90 6.63 476,97 4.05 381,83 9.59 318,21 6.03 298,88 5.81 229,76 1.94 189,70 8.48 150,01 1.98 Borrowi ngs 39,405. 67 51,083. 14 40,057. 14 48,427. 51 35,367. 58 32,114. 23 22,021. 38 22,399. 90 9,486.9 8 7,172.4 5 Total Debt 579,43 7.68 564,08 7.66 571,96 3.77 525,40 1.56 417,20 7.17 350,33 0.26 320,90 7.19 252,16 1.84 199,19 5.46 157,18 4.43 Other Liabilitie s & Provisio ns 14,384. 52 13,509. 05 15,287. 25 17,865. 56 11,477. 39 13,243. 43 12,974. 69 8,574.6 3 12,811. 39 11,056. 16 Total Liabiliti es 626,30 9.27 609,91 3.93 618,69 7.76 573,19 0.20 452,60 2.71 383,29 9.59 349,85 3.09 273,53 7.84 223,79 1.48 177,06 6.88 Assets Cash & Balance s with RBI 27,347. 66 33,961. 61 27,170. 03 19,073. 44 21,967. 04 14,986. 71 21,782. 43 15,602. 62 8,915.2 8 11,741. 85 Balance with Banks, Money at Call 68,540. 29 65,179. 68 49,233. 66 42,308. 85 32,868. 82 19,724. 54 15,527. 56 15,627. 51 12,845. 97 5,975.5 4 Advanc es 366,48 1.67 359,18 8.95 402,02 5.54 370,73 3.54 289,36 7.50 248,83 3.34 213,09 6.18 168,49 0.71 142,90 9.37 113,47 6.33 Investm ents 127,82 6.86 118,84 8.92 119,79 2.04 114,15 2.44 94,613 .43 86,753 .59 85,872 .42 67,080 .18 52,607 .18 41,802 .88 Gross Block 8,461.8 6 8,480.3 1 5,885.5 3 5,786.0 6 2,778.9 3 2,722.9 5 2,365.9 3 3,790.8 1 3,578.2 3 3,448.4 4 Net Block 8,461. 86 8,480. 31 5,885. 53 5,786. 06 2,778. 93 1,235. 89 1,319. 47 1,428. 62 1,710. 29 1,763. 10 Other Assets 27,650. 93 24,254. 46 14,590. 96 21,135. 87 10,915. 80 1,487.0 6 1,046.4 6 858.12 711.19 636.06 Total Assets 626,30 9.27 609,91 3.93 618,69 7.76 573,19 0.20 452,60 2.72 383,29 9.57 349,85 3.08 273,53 7.84 223,79 1.46 177,06 6.90 Conting ent Liabiliti es 391,40 1.30 707,61 8.65 200,91 3.85 273,95 2.28 245,91 6.80 210,42 8.17 176,20 5.41 118,53 5.87 107,15 5.08 100,48 6.14 Book Value (Rs) 291.7 379.47 472.42 465.37 401.38 343.79 292.26 243.75 224.39 168.06
  27. 27. [- 27 -] Bank Of India Profit & Loss Account Mar-17 Mar-16 Mar-15 Mar-14 Mar-13 Mar-12 Mar-11 INCOME Interest / Discount on Advances / Bills 27,187.86 30,370.90 31,678.16 27,119.28 23,139.21 20,240.63 15,500.23 Income from Investments 9,059.92 8,952.13 9,399.91 8,404.96 7,261.26 7,141.76 5,171.71 Interest on Balance with RBI and Other Inter-Bank funds 2,012.21 2,120.94 2,143.25 2,003.37 1,256.97 833.96 785.43 Others 1,030.86 352.49 208.59 382.49 251.49 264.31 294.35 Total Interest Earned 39,290.85 41,796.46 43,429.91 37,910.10 31,908.93 28,480.67 21,751.72 Other Income 6,772.33 3,652.55 4,232.70 4,291.84 3,766.04 3,321.17 2,641.77 Total Income 46,063.18 45,449.01 47,662.61 42,201.94 35,674.97 31,801.84 24,393.50 EXPENDITURE Interest Expended 27,464.74 30,071.84 32,086.24 27,079.57 22,884.93 20,167.23 13,941.03 Payments to and Provisions for Employees 5,396.62 5,357.24 4,985.82 3,991.15 3,130.52 3,069.31 3,475.44 Depreciation -12.47 286.26 285.42 227.87 183.89 166.83 140.56 Operating Expenses (excludes Employee Cost & Depreciation) 3,481.65 3,698.05 2,817.36 2,480.45 2,017.15 1,704.51 1,452.24 Total Operating Expenses 8,865.80 9,341.55 8,088.60 6,699.47 5,331.55 4,940.66 5,068.24 Provision Towards Income Tax 1,813.70 1,471.10 70.77 -27.71 0 0 0 Provision Towards Deferred Tax -2,627.91 -3,172.65 15.36 843.49 0 0 0 Provision Towards Other Taxes 0 0 0 0 258.39 900 1,006.68 Other Provisions and Contingencies 12,105.18 13,826.38 5,692.72 4,877.85 4,450.76 3,116.43 1,888.84 Total Provisions and Contingencies 11,290.97 12,124.83 5,778.85 5,693.63 4,709.15 4,016.43 2,895.52 Total Expenditure 47,621.50 51,538.22 45,953.69 39,472.67 32,925.63 29,124.32 21,904.79 Net Profit / Loss for The Year -1,558.31 -6,089.21 1,708.92 2,729.27 2,749.35 2,677.52 2,488.71 Net Profit / Loss After EI & Prior Year Items -1,558.31 -6,089.21 1,708.92 2,729.27 2,749.35 2,677.52 2,488.71 Profit / Loss Brought Forward -6,248.68 0 0 0 0 0 0
  28. 28. [- 28 -] Total Profit / Loss available for Appropriations -7,807.00 -6,089.21 1,708.92 2,729.27 2,749.35 2,677.52 2,488.71 APPROPRIATIONS Transfer To / From Statutory Reserve 0 0 430 700 687.34 669.38 625 Transfer To / From Special Reserve 0 0 0 0 299.63 0 0 Transfer To / From Capital Reserve 749.85 159.47 0 0 31.73 246.81 198.56 Transfer To / From Revenue And Other Reserves 0 0 879.2 1,653.74 1,033.55 1,285.23 1,215.87 Equity Share Dividend 0 0 332.1 321.5 596.67 465.98 444.3 Tax On Dividend 0 0 67.62 54.03 100.42 0 0 Balance Carried Over To Balance Sheet -8,556.84 -6,248.68 0 0 0 0 0 Total Appropriations -7,807.00 -6,089.21 1,708.92 2,729.27 2,749.35 2,677.52 2,488.71 EARNINGS PER SHARE Basic EPS (Rs.) -15.72 -83.01 26.57 44.74 47.79 48.98 47.35 Diluted EPS (Rs.) -15.72 -83.01 26.57 44.74 47.79 48.98 47.35 DIVIDEND PERCENTAGE Equity Dividend Rate (%) 0 0 50 50 100 70 70
  29. 29. [- 29 -] Balance Sheet of Axis Bank (in Rs. Cr.) Mar '17 Mar '16 Mar '15 Mar '14 Mar '13 Mar '12 Mar '11 Mar '10 Mar '09 Mar '08 Capital and Liabilities: Total Share Capital 479.01 476.57 474.1 469.84 467.95 413.2 410.55 405.17 359.01 357.71 Equity Share Capital 479.01 476.57 474.1 469.84 467.95 413.2 410.55 405.17 359.01 357.71 Reserve s 55,283. 53 52,688. 34 44,202. 41 37,750. 64 32,639. 91 22,395. 34 18,588. 28 15,639. 27 9,854.5 8 8,410.7 9 Net Worth 55,762 .54 53,164 .91 44,676 .51 38,220 .48 33,107 .86 22,808 .54 18,998 .83 16,044 .61 10,214 .80 8,770. 69 Deposits 414,37 8.79 357,96 7.56 322,44 1.94 280,94 4.56 252,61 3.59 220,10 4.30 189,23 7.80 141,30 0.22 117,37 4.11 87,626. 22 Borrowi ngs 105,03 0.87 99,226. 38 79,758. 27 50,290. 94 43,951. 10 34,071. 67 26,267. 88 17,169. 55 10,185. 48 5,624.0 4 Total Debt 519,40 9.66 457,19 3.94 402,20 0.21 331,23 5.50 296,56 4.69 254,17 5.97 215,50 5.68 158,46 9.77 127,55 9.59 93,250 .26 Other Liabilitie s & Provisio ns 26,295. 47 15,108. 77 15,055. 67 13,788. 89 10,888. 11 8,643.2 8 8,208.8 6 6,133.4 6 9,947.6 7 7,556.9 0 Total Liabiliti es 601,46 7.67 525,46 7.62 461,93 2.39 383,24 4.87 340,56 0.66 285,62 7.79 242,71 3.37 180,64 7.84 147,72 2.06 109,57 7.85 Assets Cash & Balance s with RBI 30,857. 94 22,361. 15 19,818. 84 17,041. 32 14,792. 09 10,702. 92 13,886. 16 9,473.8 8 9,419.2 1 7,305.6 6 Balance with Banks, Money at Call 19,398. 24 10,964. 29 16,280. 19 11,197. 38 5,642.8 7 3,230.9 9 7,522.4 9 5,732.5 6 5,597.6 9 5,198.5 8 Advanc es 373,06 9.35 338,77 3.72 281,08 3.03 230,06 6.76 196,96 5.96 169,75 9.54 142,40 7.83 104,34 3.12 81,556 .77 59,661 .14 Investm ents 128,79 3.37 122,00 6.20 132,34 2.83 113,54 8.43 113,73 7.54 93,192 .09 71,991 .62 55,974 .82 46,330 .35 33,705 .10 Gross Block 3,746.8 9 3,316.2 0 2,413.0 5 2,310.5 4 2,230.5 4 2,188.5 6 2,250.4 6 2,107.9 8 1,741.8 6 1,384.7 0 Net Block 3,746. 89 3,316. 20 2,413. 05 2,310. 54 2,230. 54 2,188. 56 2,250. 46 1,165. 19 1,015. 41 794.37 Capital Work In Progress 0 206.97 101.26 99.67 125.11 70.77 22.69 57.24 57.48 128.48 Other Assets 45,601. 87 27,839. 08 9,893.1 9 8,980.7 9 7,066.5 6 6,482.9 3 4,632.1 2 3,901.0 6 3,745.1 5 2,784.5 1 Total Assets 601,46 7.66 525,46 7.61 461,93 2.39 383,24 4.89 340,56 0.67 285,62 7.80 242,71 3.37 180,64 7.87 147,72 2.06 109,57 7.84 Conting ent Liabiliti es 750,68 1.21 668,72 5.82 640,18 3.59 611,44 6.37 576,01 0.77 514,87 1.98 477,86 4.55 296,12 5.58 104,42 8.39 78,028. 44 Book Value (Rs) 232.83 223.12 188.47 813.47 707.5 551.99 462.77 395.99 284.5 245.13
  30. 30. [- 30 -] Axis Bank Profit & Loss Account Mar-17 Mar-16 Mar-15 Mar-14 Mar-13 Mar-12 Mar-11 INCOME Interest / Discount on Advances / Bills 33,124.96 30,040.56 25,867.82 21,950.43 19,166.24 15,379.35 10,403.11 Income from Investments 9,622.82 9,377.59 9,117.09 8,343.13 7,746.98 6,394.27 4,438.68 Interest on Balance with RBI and Other Inter-Bank funds 503.84 295.25 231.26 166.78 111.26 98.43 182.62 Others 1,290.54 1,274.64 262.43 180.81 158.1 122.6 130.39 Total Interest Earned 44,542.16 40,988.04 35,478.60 30,641.16 27,182.57 21,994.65 15,154.81 Other Income 11,691.31 9,371.46 8,365.05 7,405.22 6,551.11 5,420.22 4,632.13 Total Income 56,233.47 50,359.50 43,843.64 38,046.38 33,733.68 27,414.86 19,786.94 EXPENDITURE Interest Expended 26,449.04 24,155.07 21,254.46 18,689.52 17,516.31 13,976.90 8,591.82 Payments to and Provisions for Employees 3,891.86 3,376.01 3,114.97 2,601.35 2,376.98 2,080.17 1,613.90 Depreciation 508.8 443.91 405.67 363.93 351.73 342.24 289.59 Operating Expenses (excludes Employee Cost & Depreciation) 7,799.24 6,280.90 5,683.10 4,935.49 4,185.52 3,584.70 2,875.94 Total Operating Expenses 12,199.91 10,100.82 9,203.75 7,900.77 6,914.24 6,007.10 4,779.43 Provision Towards Income Tax 4,988.90 4,241.96 3,852.37 3,489.74 2,720.58 2,256.23 1,953.03 Provision Towards Deferred Tax -3,200.62 -71.87 -153.36 -358.78 -347.32 -210.6 -205.52 Provision Towards Other Taxes 0 -0.05 0.93 0.42 0.38 0.36 0.41 Other Provisions and Contingencies 12,116.96 3,709.91 2,327.68 2,107.04 1,750.06 1,142.67 1,279.28 Total Provisions and Contingencies 13,905.24 7,879.95 6,027.62 5,238.42 4,123.70 3,188.66 3,027.20 Total Expenditure 52,554.19 42,135.84 36,485.82 31,828.71 28,554.25 23,172.66 16,398.45 Net Profit / Loss for The Year 3,679.28 8,223.66 7,357.82 6,217.67 5,179.43 4,242.21 3,388.49 Net Profit / Loss After EI & Prior Year Items 3,679.28 8,223.66 7,357.82 6,217.67 5,179.43 4,242.21 3,388.49 Profit / Loss Brought Forward 23,766.46 17,623.49 13,501.45 10,029.26 7,329.45 4,969.77 3,427.43
  31. 31. [- 31 -] Total Profit / Loss available for Appropriations 27,445.74 25,847.15 20,859.27 16,246.93 12,508.88 9,211.98 6,815.92 APPROPRIATIONS Transfer To / From Statutory Reserve 919.82 2,055.92 1,839.46 1,554.42 1,294.86 1,060.55 847.12 Transfer To / From Reserve Fund 1.75 1.74 -1.27 1.05 2.61 51.9 4.76 Transfer To / From Capital Reserve 755.57 62.04 63.14 38.87 141.46 0 338.85 Transfer To / From Investment Reserve -87.17 -41.81 25.49 50.03 53.46 0 -14.94 Equity Share Dividend 1,197.52 1,191.42 1,087.54 939.69 843.86 658.24 573 Tax On Dividend 209.91 213.19 221.42 161.44 143.37 111.83 97.35 Balance Carried Over To Balance Sheet 24,448.33 22,364.65 17,623.49 13,501.45 10,029.26 7,329.45 4,969.77 Total Appropriations 27,445.74 25,847.15 20,859.27 16,246.93 12,508.88 9,211.98 6,815.92 EARNINGS PER SHARE Basic EPS (Rs.) 15.4 34.59 31 132.56 119.67 102.94 82.95 Diluted EPS (Rs.) 15.34 34.4 31 132.23 118.85 102.2 81.61 DIVIDEND PERCENTAGE Equity Dividend Rate (%) 250 250 230 200 180 160 140
  32. 32. [- 32 -] Balance Sheet of Kotak Mahindra Bank (in Rs. Cr.) Mar '17 Mar '16 Mar '15 Mar '14 Mar '13 Mar '12 Mar '11 Mar '10 Mar '09 Mar '08 Capital and Liabilities: Total Share Capital 920.45 917.19 386.18 385.16 373.3 370.34 368.44 348.14 345.67 344.67 Equity Share Capital 920.45 917.19 386.18 385.16 373.3 370.34 368.44 348.14 345.67 344.67 Share Applicati on Money 1.87 3.41 3 8.53 17.53 34.82 36.92 0 0 0 Reserves 26,695. 62 23,041. 87 13,754. 91 11,889 .93 9,073. 65 7,575. 59 6,428. 04 4,191. 78 3,559. 86 3,249. 04 Net Worth 27,617. 94 23,962. 47 14,144. 09 12,283 .62 9,464. 48 7,980. 75 6,833. 40 4,539. 92 3,905. 53 3,593. 71 Deposits 157,425 .86 138,643 .02 74,860. 31 59,072 .33 51,028 .77 38,536 .52 29,260 .97 23,886 .47 15,644 .93 16,423 .65 Borrowin gs 21,095. 48 20,975. 34 12,149. 71 12,895 .58 20,410 .62 16,595 .52 11,723 .95 6,140. 51 5,904. 07 5,119. 25 Total Debt 178,52 1.34 159,61 8.36 87,010. 02 71,967 .91 71,439 .39 55,132 .04 40,984 .92 30,026 .98 21,549 .00 21,542 .90 Other Liabilitie s & Provision s 8,450.6 8 8,678.9 6 4,857.9 7 3,333. 82 2,789. 81 2,553. 99 3,032. 36 2,869. 42 3,257. 34 3,175. 75 Total Liabiliti es 214,58 9.96 192,25 9.79 106,01 2.08 87,585 .35 83,693 .68 65,666 .78 50,850 .68 37,436 .32 28,711 .87 28,312 .36 Assets Cash & Balances with RBI 7,492.4 3 6,903.4 3 3,928.3 0 2,948. 23 2,207. 90 2,016. 49 2,107. 72 2,085. 67 995.35 1,710. 29 Balance with Banks, Money at Call 15,079. 58 3,976.2 8 2,334.0 6 3,031. 66 1,481. 26 618.06 363.26 214.59 145.32 439.18 Advance s 136,08 2.13 118,66 5.30 66,160. 71 53,027 .63 48,468 .98 39,079 .23 29,329 .31 20,775 .05 16,625 .34 15,552 .22 Investm ents 45,074. 19 51,260. 22 30,421. 09 25,484 .55 28,873 .43 21,566 .81 17,121 .44 12,512 .66 9,110. 18 9,141. 99 Gross Block 1,537.6 3 1,551.5 9 1,206.7 1 1,106. 94 464.42 449.97 425.61 745.34 460.61 391.42 Net Block 1,537.6 3 1,551.5 9 1,206.7 1 1,106. 94 464.42 449.97 425.61 427.65 213.36 210.25 Other Assets 9,324.0 0 9,902.9 7 1,961.2 1 1,986. 33 2,197. 69 1,936. 23 1,503. 33 1,420. 69 1,622. 33 1,258. 43 Total Assets 214,58 9.96 192,25 9.79 106,01 2.08 87,585 .34 83,693 .68 65,666 .79 50,850 .67 37,436 .31 28,711 .88 28,312 .36 Continge nt Liabilitie s 213,385 .80 257,574 .33 68,092. 15 46,903 .54 42,117 .47 40,052 .52 35,422 .71 4,156. 15 4,486. 28 7,172. 79 Book Value (Rs) 150.01 130.61 183.09 159.35 126.53 107.28 92.23 130.4 112.98 104.26
  33. 33. [- 33 -] Kotak Mahindra Bank Profit & Loss Account Mar-17 Mar-16 Mar-15 Mar-14 Mar-13 Mar-12 Mar-11 INCOME Interest / Discount on Advances / Bills 13,402.10 12,470.37 7,468.67 6,674.82 6,146.09 4,867.44 3,214.35 Income from Investments 3,681.04 3,456.01 2,215.85 2,050.04 1,869.83 1,306.35 957.18 Interest on Balance with RBI and Other Inter- Bank funds 218.32 92.91 24.06 27.17 24.33 4.07 17.19 Others 397.47 364.9 11.29 15.08 2.24 2.37 1.04 Total Interest Earned 17,698.93 16,384.18 9,719.87 8,767.12 8,042.49 6,180.24 4,189.75 Other Income 3,477.16 2,612.23 2,028.45 1,399.71 1,160.66 977.35 780.53 Total Income 21,176.09 18,996.42 11,748.32 10,166.83 9,203.15 7,157.58 4,970.29 EXPENDITURE Interest Expended 9,572.78 9,483.81 5,496.13 5,047.07 4,836.82 3,667.75 2,092.18 Payments to and Provisions for Employees 2,768.53 2,816.97 1,466.68 1,172.16 1,075.14 902.36 783.83 Depreciation 290.66 287.38 193 165.18 132.53 116.76 98.27 Operating Expenses (excludes Employee Cost & Depreciation) 2,559.30 2,367.17 1,595.05 1,205.27 1,002.06 815.71 671.22 Total Operating Expenses 5,618.50 5,471.52 3,254.73 2,542.61 2,209.73 1,834.83 1,553.32 Provision Towards Income Tax 1,800.31 1,036.12 895.97 741.78 632.89 493.15 360.91 Provision Towards Deferred Tax -63.74 -2.32 70.95 28.11 -21.58 21.69 8.59 Provision Towards Other Taxes 0 0.14 0.06 0.04 0.03 0.03 0.02 Other Provisions and Contingencies 836.74 917.37 164.5 304.7 184.55 55.08 137.09 Total Provisions and Contingencies 2,573.31 1,951.31 1,131.48 1,074.63 795.89 569.95 506.61 Total Expenditure 17,764.59 16,906.64 9,882.34 8,664.31 7,842.44 6,072.53 4,152.10 Net Profit / Loss for The Year 3,411.50 2,089.78 1,865.98 1,502.52 1,360.72 1,085.05 818.18 Net Profit / Loss After EI & Prior Year Items 3,411.50 2,089.78 1,865.98 1,502.52 1,360.72 1,085.05 818.18
  34. 34. [- 34 -] Profit / Loss Brought Forward 8,214.12 5,095.26 4,005.29 3,016.60 2,162.79 1,494.52 965.91 Transferred on Amalgamation 0 1,674.71 0 0 0 0 0 Total Profit / Loss available for Appropriations 11,625.62 8,859.75 5,871.27 4,519.12 3,523.51 2,579.57 1,784.09 APPROPRIATIONS Transfer To / From Statutory Reserve 852.88 522.45 466.5 375.63 340.18 271.27 204.55 Transfer To / From Special Reserve 55 45 28 32 28.5 25 29 Transfer To / From Capital Reserve 10.55 9.17 5.91 0.4 0 0.02 0.69 Transfer To / From General Reserve 0 0 93.3 75.13 68.04 54.26 40.91 Transfer To / From Investment Reserve -48.49 -41.52 86.65 -41.1 10.52 14.52 -26.83 Equity Share Dividend 0.07 91.84 82.07 63.08 52.38 44.49 36.88 Tax On Dividend -0.68 18.7 13.58 8.69 7.29 7.22 4.37 Balance Carried Over To Balance Sheet 10,756.29 8,214.12 5,095.26 4,005.29 3,016.60 2,162.79 1,494.52 Total Appropriations 11,625.62 8,859.75 5,871.27 4,519.12 3,523.51 2,579.57 1,784.09 EARNINGS PER SHARE Basic EPS (Rs.) 18.57 11.42 24.2 19.62 18.31 14.69 11.35 Diluted EPS (Rs.) 18.55 11.4 24.14 19.59 18.24 14.61 11.28 DIVIDEND PERCENTAGE Equity Dividend Rate (%) 12 10 18 16 14 12 10
  35. 35. [- 35 -] Balance Sheet of HDFC Bank (in Rs. Cr.) Mar '17 Mar '16 Mar '15 Mar '14 Mar '13 Mar '12 Mar '11 Mar '10 Mar '09 Mar '08 Capital and Liabilities: Total Share Capital 512.51 505.64 501.3 479.81 475.88 469.34 465.23 457.74 425.38 354.43 Equity Share Capital 512.51 505.64 501.3 479.81 475.88 469.34 465.23 457.74 425.38 354.43 Reserve s 88,949. 84 72,172. 13 61,508. 12 42,998. 82 35,738. 26 29,455. 04 24,911. 13 21,064. 75 14,226. 43 11,142. 80 Net Worth 89,462 .35 72,677 .77 62,009 .42 43,478 .63 36,214 .14 29,924 .68 25,379 .27 21,522 .49 15,052 .73 11,497 .23 Deposits 643,63 9.66 546,42 4.19 450,79 5.64 367,33 7.48 296,24 6.98 246,70 6.45 208,58 6.41 167,40 4.44 142,81 1.58 100,76 8.60 Borrowi ngs 74,028. 87 53,018. 47 45,213. 56 39,438. 99 33,006. 60 23,846. 51 14,394. 06 12,915. 69 2,685.8 4 4,478.8 6 Total Debt 717,66 8.53 599,44 2.66 496,00 9.20 406,77 6.47 329,25 3.58 270,55 2.96 222,98 0.47 180,32 0.13 145,49 7.42 105,24 7.46 Other Liabilitie s & Provisio ns 56,709. 32 36,725. 13 32,484. 46 41,344. 40 34,864. 17 37,431. 87 28,992. 86 20,615. 94 22,720. 62 16,431. 91 Total Liabiliti es 863,84 0.20 708,84 5.56 590,50 3.08 491,59 9.50 400,33 1.89 337,90 9.51 277,35 2.60 222,45 8.56 183,27 0.77 133,17 6.60 Assets Cash & Balance s with RBI 37,896. 88 30,058. 31 27,510. 45 25,345. 63 14,627. 40 14,991. 09 25,100. 82 15,483. 28 13,527. 21 12,553. 18 Balance with Banks, Money at Call 11,055. 22 8,860.5 3 8,821.0 0 14,238. 01 12,652. 77 5,946.6 3 4,568.0 2 14,459. 11 3,979.4 1 2,225.1 6 Advanc es 554,56 8.20 464,59 3.96 365,49 5.03 303,00 0.27 239,72 0.64 195,42 0.03 159,98 2.67 125,83 0.59 98,883 .05 63,426 .90 Investm ents 214,46 3.34 163,88 5.77 166,45 9.95 120,95 1.07 111,61 3.60 97,482 .91 70,929 .37 58,607 .62 58,817 .55 49,393 .54 Gross Block 3,626.7 4 3,343.1 6 3,121.7 3 2,939.9 2 2,703.0 8 2,347.1 9 2,170.6 5 4,707.9 7 3,956.6 3 2,386.9 9 Net Block 3,626. 74 3,343. 16 3,121. 73 2,939. 92 2,703. 08 2,347. 19 2,170. 65 2,122. 81 1,706. 73 1,175. 13 Other Assets 42,229. 82 38,103. 84 19,094. 91 25,124. 60 19,014. 41 21,721. 64 14,601. 08 5,955.1 5 6,356.8 3 4,402.6 9 Total Assets 863,84 0.20 708,84 5.57 590,50 3.07 491,59 9.50 400,33 1.90 337,90 9.49 277,35 2.61 222,45 8.56 183,27 0.78 133,17 6.60 Conting ent Liabiliti es 848,71 7.62 876,80 8.11 997,53 8.88 744,09 7.98 746,22 6.39 883,98 5.32 588,55 0.98 466,23 6.24 396,59 4.31 582,83 5.94 Book Value (Rs) 349.12 287.47 247.39 181.23 152.2 127.52 545.46 470.19 344.44 324.38
  36. 36. [- 36 -] HDFC Bank Profit & Loss Account Mar-17 Mar-16 Mar-15 Mar-14 Mar-13 Mar-12 Mar-11 INCOME Interest / Discount on Advances / Bills 52,055.26 44,827.86 37,180.79 31,686.92 26,822.39 20,536.60 15,085.01 Income from Investments 15,944.34 14,120.03 10,705.61 9,036.85 7,820.26 6,504.59 4,675.44 Interest on Balance with RBI and Other Inter-Bank funds 532.02 361.61 517.1 355.99 281.63 137.14 148.08 Others 774.34 911.95 66.41 55.78 140.59 108.02 19.68 Total Interest Earned 69,305.96 60,221.45 48,469.90 41,135.53 35,064.87 27,286.35 19,928.21 Other Income 12,296.50 10,751.72 8,996.35 7,919.64 6,852.62 5,243.69 4,335.15 Total Income 81,602.46 70,973.17 57,466.26 49,055.18 41,917.50 32,530.05 24,263.36 EXPENDITURE Interest Expended 36,166.73 32,629.93 26,074.24 22,652.90 19,253.75 14,989.58 9,385.08 Payments to and Provisions for Employees 6,483.66 5,702.20 4,750.96 4,178.98 3,965.38 3,399.91 2,836.04 Depreciation 833.12 705.84 656.3 671.61 651.67 542.52 497.41 Operating Expenses (excludes Employee Cost & Depreciation) 12,386.55 10,571.66 8,580.29 7,191.61 6,619.07 4,647.64 3,819.46 Total Operating Expenses 19,703.34 16,979.70 13,987.54 12,042.20 11,236.12 8,590.06 7,152.91 Provision Towards Income Tax 7,916.97 6,507.59 5,204.03 4,269.41 3,275.76 2,606.25 2,237.46 Provision Towards Deferred Tax -327.54 -165.88 -91.23 24.27 -251.42 -260.18 -345.2 Provision Towards Other Taxes 0 0 0.75 0.75 0.6 0.55 0.6 Other Provisions and Contingencies 3,593.31 2,725.61 2,075.01 1,587.27 1,676.40 1,436.70 1,906.11 Total Provisions and Contingencies 11,182.74 9,067.32 7,188.56 5,881.70 4,701.34 3,783.32 3,798.97 Total Expenditure 67,052.82 58,676.96 47,250.34 40,576.80 35,191.21 27,362.96 20,336.96 Net Profit / Loss for The Year 14,549.64 12,296.21 10,215.92 8,478.38 6,726.28 5,167.09 3,926.40 Net Profit / Loss After EI & Prior Year Items 14,549.64 12,296.21 10,215.92 8,478.38 6,726.28 5,167.09 3,926.40
  37. 37. [- 37 -] Profit / Loss Brought Forward 23,527.69 18,627.79 14,654.15 11,132.18 8,399.65 6,174.24 4,532.79 Total Profit / Loss available for Appropriations 38,077.33 30,924.01 24,870.07 19,610.56 15,125.93 11,341.33 8,459.20 APPROPRIATIONS Transfer To / From Statutory Reserve 3,637.41 3,074.05 2,553.98 2,119.59 1,681.57 1,291.77 981.6 Transfer To / From Capital Reserve 313.41 222.15 224.92 58.27 85.85 0 0.36 Transfer To / From General Reserve 1,454.96 1,229.62 1,021.59 847.84 672.63 516.71 392.64 Transfer To / From Investment Reserve 4.29 -8.52 27.54 3.22 17.66 -41.69 15.56 Dividend and Dividend Tax for The Previous Year -1.69 -11.71 0.84 4.85 4.47 2.12 2.65 Equity Share Dividend 0 2,401.78 2,005.20 1,643.35 1,309.08 1,009.08 767.62 Tax On Dividend 0 488.95 408.21 279.29 222.48 163.7 124.53 Balance Carried Over To Balance Sheet 32,668.94 23,527.69 18,627.79 14,654.15 11,132.18 8,399.65 6,174.24 Total Appropriations 38,077.33 30,924.01 24,870.07 19,610.56 15,125.93 11,341.33 8,459.20 EARNINGS PER SHARE Basic EPS (Rs.) 57.18 48.84 42 35.47 28.49 22.11 17 Diluted EPS (Rs.) 56.43 48.26 42 35.21 28.18 21.91 16.81 DIVIDEND PERCENTAGE Equity Dividend Rate (%) 550 475 400 343 275 215 165
  38. 38. [- 38 -] Balance Sheet of ICICI Bank (in Rs. Cr.) Mar '17 Mar '16 Mar '15 Mar '14 Mar '13 Mar '12 Mar '11 Mar '10 Mar '09 Mar '08 Capital and Liabilities: Total Share Capital 1,165.1 1 1,163.1 7 1,159.6 6 1,155.0 4 1,153.6 4 1,152.7 7 1,151.8 2 1,114.8 9 1,463.2 9 1,462.6 8 Equity Share Capital 1,165.1 1 1,163.1 7 1,159.6 6 1,155.0 4 1,153.6 4 1,152.7 7 1,151.8 2 1,114.8 9 1,113.2 9 1,112.6 8 Share Applicat ion Money 6.26 6.7 7.44 6.57 4.48 2.39 0.29 0 0 0 Reserve s 95,737. 57 85,748. 24 79,262. 26 72,051. 71 65,547. 84 59,250. 09 53,938. 82 50,503. 48 48,419. 73 45,357. 53 Net Worth 96,908. 94 86,918 .11 80,429 .36 73,213 .32 66,705 .96 60,405 .25 55,090 .93 51,618 .37 49,883 .02 46,820 .21 Deposits 490,039 .06 421,42 5.71 361,56 2.73 331,91 3.66 292,61 3.63 255,49 9.96 225,60 2.11 202,01 6.60 218,34 7.82 244,43 1.05 Borrowi ngs 147,556 .15 174,80 7.38 172,41 7.35 154,75 9.05 145,34 1.49 140,16 4.91 109,55 4.28 94,263. 57 67,323. 69 65,648. 43 Total Debt 637,59 5.21 596,23 3.09 533,98 0.08 486,67 2.71 437,95 5.12 395,66 4.87 335,15 6.39 296,28 0.17 285,67 1.51 310,07 9.48 Other Liabilitie s & Provisio ns 34,245. 16 34,726. 44 31,719. 86 34,755. 55 32,133. 60 17,576. 98 15,986. 35 15,501. 18 43,746. 43 42,895. 39 Total Liabilit ies 768,74 9.31 717,87 7.64 646,12 9.30 594,64 1.58 536,79 4.68 473,64 7.10 406,23 3.67 363,39 9.72 379,30 0.96 399,79 5.08 Assets Cash & Balance s with RBI 31,702. 41 27,106. 09 25,652. 91 21,821. 83 19,052. 73 20,461. 29 20,906. 97 27,514. 29 17,536. 33 29,377. 53 Balance with Banks, Money at Call 44,010. 66 32,762. 65 16,651. 71 19,707. 77 22,364. 79 15,768. 02 13,183. 11 11,359. 40 12,430. 23 8,663.6 0 Advanc es 464,23 2.08 435,26 3.94 387,52 2.07 338,70 2.65 290,24 9.44 253,72 7.66 216,36 5.90 181,20 5.60 218,31 0.85 225,61 6.08 Invest ments 161,50 6.55 160,41 1.80 186,58 0.03 177,02 1.82 171,39 3.60 159,56 0.04 134,68 5.96 120,89 2.80 103,05 8.31 111,45 4.34 Gross Block 7,805.2 1 7,576.9 2 4,725.5 2 4,678.1 4 4,647.0 6 4,614.6 9 4,744.2 6 7,114.1 2 7,443.7 1 7,036.0 0 Revalua tion Reserve s 3,042.1 4 2,817.4 7 0 0 0 0 0 3,901.4 3 3,642.0 9 2,927.1 1 Net Block 4,763.0 7 4,759. 45 4,725. 52 4,678. 14 4,647. 06 4,614. 69 4,744. 26 3,212. 69 3,801. 62 4,108. 89 Other Assets 62,534. 55 57,573. 70 24,997. 05 32,709. 39 29,087. 07 19,515. 39 16,347. 47 19,214. 93 24,163. 62 20,574. 63 Total Assets 768,74 9.32 717,87 7.63 646,12 9.29 594,64 1.60 536,79 4.69 473,64 7.09 406,23 3.67 363,39 9.71 379,30 0.96 399,79 5.07 Conting ent Liabilitie s 1,053,6 16.90 922,45 3.51 868,19 0.58 794,96 5.35 802,38 3.84 923,03 7.16 931,65 1.64 694,94 8.84 803,99 1.92 371,73 7.36 Book Value (Rs) 166.37 149.47 138.72 634.6 578.65 524.43 479.45 463.01 444.94 417.64
  39. 39. [- 39 -] ICICI Bank Profit & Loss Account Mar-17 Mar-16 Mar-15 Mar-14 Mar-13 Mar-12 Mar-11 INCOME Interest / Discount on Advances / Bills 39,603.39 38,943.15 35,631.08 31,427.93 27,341.11 22,129.89 16,424.78 Income from Investments 11,377.07 10,625.35 11,944.57 11,557.06 11,009.27 9,684.02 7,905.19 Interest on Balance with RBI and Other Inter-Bank funds 495.46 158.24 195.1 199.98 542.98 491.14 366.77 Others 2,680.35 3,012.69 1,320.39 993.19 1,182.24 1,237.60 1,277.31 Total Interest Earned 54,156.28 52,739.43 49,091.14 44,178.15 40,075.60 33,542.65 25,974.05 Other Income 19,504.48 15,323.05 12,176.13 10,427.87 8,345.70 7,502.76 6,647.89 Total Income 73,660.76 68,062.49 61,267.27 54,606.02 48,421.30 41,045.41 32,621.95 EXPENDITURE Interest Expended 32,418.96 31,515.39 30,051.53 27,702.59 26,209.18 22,808.50 16,957.15 Payments to and Provisions for Employees 5,733.71 3,012.69 4,749.88 4,220.11 3,893.29 3,515.28 2,816.93 Depreciation 757.65 679.29 623.89 544.27 457.34 482.27 483.52 Depreciation on Leased Assets 0 19.22 35.06 31.7 32.82 42.26 78.91 Operating Expenses (excludes Employee Cost & Depreciation) 8,263.70 8,972.36 6,087.01 5,512.79 4,629.44 3,810.63 3,237.88 Total Operating Expenses 14,755.06 12,683.56 11,495.83 10,308.86 9,012.88 7,850.44 6,617.25 Provision Towards Income Tax 2,180.12 5,788.61 4,859.14 3,839.50 2,998.20 2,187.42 2,138.11 Provision Towards Deferred Tax 702.6 -3,319.18 -219.57 313.19 66.02 144.65 -531.78 Provision Towards Other Taxes 0 0 5 5 7 6.1 3 Other Provisions and Contingencies 13,802.94 11,667.82 3,899.99 2,626.41 1,802.54 1,583.05 2,286.84 Total Provisions and Contingencies 16,685.66 14,137.25 8,544.56 6,784.10 4,873.76 3,921.22 3,896.17 Total Expenditure 63,859.67 58,336.20 50,091.92 44,795.55 40,095.83 34,580.15 27,470.57 Net Profit / Loss for The Year 9,801.09 9,726.29 11,175.35 9,810.48 8,325.47 6,465.26 5,151.38 Net Profit / Loss After EI & Prior Year Items 9,801.09 9,726.29 11,175.35 9,810.48 8,325.47 6,465.26 5,151.38 Profit / Loss Brought Forward 17,132.19 17,261.42 13,318.59 9,902.29 7,054.23 5,018.18 3,464.38
  40. 40. [- 40 -] Total Profit / Loss available for Appropriations 26,933.28 26,987.70 24,493.94 19,712.76 15,379.71 11,483.44 8,615.76 APPROPRIATIONS Transfer To / From Statutory Reserve 2,450.30 2,431.60 2,793.90 2,453.00 2,082.00 1,617.00 1,288.00 Transfer To / From Reserve Fund 0.98 0.93 0.77 4.61 2.78 1.07 0.04 Transfer To / From Special Reserve 450 1,350.00 1,100.00 900 760 650 525 Transfer To / From Capital Reserve 5,293.30 2,382.24 291.93 76 33 38 83.25 Transfer To / From Investment Reserve 0 0 -127 127 0 0.32 0.26 Transfer To / From Revenue And Other Reserves 0 500 0 0 0 0 -116 Dividend and Dividend Tax for The Previous Year -6.24 3.85 2.98 -53.97 0.25 0.43 2.17 Equity Share Dividend 0 2,907.52 2,898.81 2,656.28 2,307.23 1,902.04 1,612.58 Tax On Dividend 0 279.37 271.15 231.25 292.16 220.35 202.28 Balance Carried Over To Balance Sheet 18,744.94 17,132.19 17,261.42 13,318.59 9,902.29 7,054.23 5,018.18 Total Appropriations 26,933.28 26,987.70 24,493.94 19,712.76 15,379.71 11,483.44 8,615.76 EARNINGS PER SHARE Basic EPS (Rs.) 16.84 16.75 19.32 84.99 72.2 56.11 45.27 Diluted EPS (Rs.) 16.77 16.65 19.13 84.65 71.93 55.95 45.06 DIVIDEND PERCENTAGE Equity Dividend Rate (%) 125 250 250 230 200 165 140

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