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HDFC AR 2015-16 Cover HIGHLIGHTS • Net Profit: ` 12,296 crore. An increase of 20.4% compared to the previous year • Balance Sheet Size: ` 708,846 crore. An increase of 20.0% compared to the previous year • Total Deposits: ` 546,424 crore. An increase of 21.2% compared to the previous year • Total Advances: ` 464,594 crore. An increase of 27.1% compared to the previous year • Capital Adequacy Ratio: 15.5% • Tier I Capital Ratio: 13.2% • Gross Non-Performing Assets: 0.94% of Gross Advances • Network: - Branches: 4,520 - ATMs: 12,000 - Cities/Towns: 2,587 Do more, Live more! BANKING BHARAT Financial Highlights 2006-2007 2007-2008 2008-2009 Interest income 7,055.35 10,530.43 16,584.01 Interest expense 3,179.45 4,887.12 8,911.10 Net interest income 3,875.90 5,643.31 7,672.91 Other income 1,679.21 2,495.94 3,700.65 Net revenues 5,555.11 8,139.25 11,373.56 Operating costs 2,975.08 4,311.03 5,950.54 Operating result 2,580.03 3,828.22 5,423.02 Provisions and contingencies 941.28 1,547.59 2,123.78 Loan loss provisions 877.13 1,278.84 1,970.35 Others 64.15 268.75 153.43 Profit before tax 1,638.75 2,280.63 3,299.24 Provision for taxation 497.30 690.45 1,054.31 Profit after tax 1,141.45 1,590.18 2,244.93 Funds : Deposits 68,297.94 100,768.60 142,811.58 Subordinated debt 3,282.60 3,249.10 8,738.58 Stockholders’ equity 6,433.15 11,497.23 14,646.33 Working funds 91,235.61 133,176.60 183,270.77 Loans 46,944.78 63,426.90 98,883.05 Investments # 30,281.96 48,908.96 55,784.95 Key Ratios : Earnings per share (`) * 7.26 9.24 10.57 Return on average networth 19.40% 16.05% 16.12% Tier I capital ratio 8.58% 10.30% 10.58% Total capital ratio 13.08% 13.60% 15.69% Dividend per share (`) * 1.40 1.70 2.00 Dividend payout ratio 22.92% 22.17% 22.17% Book value per share as at March 31 (`) * 40.28 64.88 68.86 Market price per share as at March 31 (`) ** 190.83 266.25 194.68 Price to earnings ratio 26.29 28.80 18.42 ` 1 Crore = ` 10 Million * Figures for the years prior to 2011-2012 have been adjusted to reflect the effect of split of equity shares from nominal value of ` 10 each into five equity shares of nominal value of ` 2 each. ** Source : NSE (prices for years prior to 2011-2012 have been divided by five to reflect the sub-division of shares) *** Proposed # Figures for the previous years have been adjusted to reflect the effect of reclassification as mentioned in Schedule 18, Note no. 1 forming part of ‘Notes to Accounts’. HDFC Bank Limited Annual Report 2015-16 12 (` crore) 2009-2010 2010-2011 2011-2012 2012-2013 2013-2014 2014-2015 2015-2016 16,467.92 20,380.77 27,874.19 35,064.87 41,135.53 48,469.91 60,221.45 7,786.30 9,385.08 14,989.58 19,253.75 22,652.90 26,074.23 32,629.93 8,681.62 10,995.69 12,884.61 15,811.12 18,482.63 22,395.68 27,591.52 4,573.63 4,945.23 5,783.62 6,852.62 7,919.64 8,996.34 10,751.72 13,255.25 15,940.92 18,668.23 22,663.74 26,402.28 31,392.02 38,343.24 6,475.71 7,780.02 9,277.64 11,236.11 12,042.20 13,987.55 16,979.69 6,779.54 8,160.90 9,390.59 11,427.63 14,360.08 17,404.47 21,363.55 2,490.40 2,342.24 1,877.44 1,677.01 1,588.03 2,075.75 2,725.61 2,288.74 1,198.55 1,091.77 1,234.21 1,632.58 1,723.58 2,133.63 201.66 1,143.69 785.67 442.80 (44.56) 352.17 591.98 4,289.14 5,818.66 7,513.15 9,750.62 12,772.05 15,328.72 18,637.94 1,340.44 1,892.26 2,346.08 3,024.34 4,293.67 5,112.80 6,341.71 2,948.70 3,926.40 5,167.07 6,726.28 8,478.38 10,215.92 12,296.23 167,404.44 208,586.41 246,706.45 296,246.98 367,337.48 450,795.65 546,424.19 6,353.10 7,393.05 11,105.65 16,586.75 16,643.05 16,254.90 15,090.45 21,519.58 25,376.35 29,924.37 36,214.15 43,478.63 62,009.42 72,677.77 222,458.57 277,352.59 337,909.50 400,331.90 491,599.50 590,503.08 708,845.57 125,830.59 159,982.67 195,420.03 239,720.64 303,000.27 365,495.04 464,593.96 53,113.32 61,670.94 84,728.34 97,342.80 105,831.88 151,641.77 163,885.78 13.51 17.00 22.11 28.49 35.47 42.15 48.84 16.80% 16.52% 18.37% 20.07% 20.88% 20.36% 17.97% 13.26% 12.23% 11.60% 11.08% 11.77% 13.66% 13.22% 17.44% 16.22% 16.52% 16.80% 16.07% 16.79% 15.53% 2.40 3.30 4.30 5.50 6.85 8.00 9.50 *** 21.72% 22.72% 22.70% 22.77% 22.68% 23.62% 23.51% 94.02 109.09 127.52 152.20 181.23 247.39 287.47 386.70 469.17 519.85 625.35 748.80 1,022.70 1,071.15 28.62 27.59 23.51 21.95 21.11 24.26 21.93 HDFC Bank Limited Annual Report 2015-16 13 BOARD OF DIRECTORS STATUTORY AUDITORS Mrs. Shyamala Gopinath, Chairperson Deloitte Haskins & Sells Mr. A. N. Roy Mr. Bobby Parikh Chartered Accountants Mr. Keki Mistry Dr. Pandit Palande (Retired as Director w.e.f. close of business hours on April 23, 2015) Mr. Partho Datta REGISTERED OFFICE Mrs. Renu Karnad Mr. Malay Patel HDFC Bank House, Mr. Umesh Chandra Sarangi Senapati Bapat Marg, (Appointed as Additional Director w.e.f. March 1, 2016) Lower Parel, Mr. Aditya Puri, Managing Director Mumbai 400 013. Mr. Paresh Sukthankar, Deputy Managing Director Tel: + 91 22 66521000 Mr. Kaizad Bharucha, Executive Director Fax: + 91 22 24960737 Website: www.hdfcbank.com KEY MANAGERIAL PERSONS Mr. Aditya Puri, Managing Director Mr. Paresh Sukthankar, Deputy Managing Director CORPORATE IDENTIFICATION NO Mr. Kaizad Bharucha, Executive Director Mr. Sashidhar Jagdishan, Chief Financial Officer CIN - L65920MH1994PLC080618 Mr. Sanjay Dongre, Executive Vice President (Legal) & Company Secretary REGISTRARS & TRANSFER AGENTS SENIOR MANAGEMENT TEAM Mr. Abhay Aima Datamatics Financial Services Ltd Mr. Ashish Parthasarthy Plot No. B 5, Mrs. Ashima Bhat Part B Crosslane, Mr. Ashok Khanna MIDC, Marol, Andheri (East), Mr. Arvind Kapil Mumbai 400 093. Mr. Aseem Dhru Tel: + 91 22 66712213-14 Mr. Bhavesh Zaveri Fax: + 91 22 66712011 E-mail: [email protected] Mr. Chakrapani Venkatachari Mr. Deepak Maheshwari Mr. Dhiraj Relli (on deputation to HDFC Securities Limited, the Bank’s subsidiary) Mr. Jimmy M Tata Mr. Munish Mittal Mr. Navin Puri Mr. Nitin Chugh Mr. Nitin Rao Mr. Nirav Shah Mr. Parag Rao Mr. Rajender Sehgal Mr. Rakesh K. Singh Mr. Rajesh Rathanchand Mr. Ravi Narayanan HDFC Bank Limited Annual Report 2015-16 14 22nd ANNUAL GENERAL MEETING Date : July 21, 2016 Day : Thursday Time : 2.30 p.m. Place : Birla Matushri Sabhagar, 19, New Marine Lines, Mumbai 400 020 Record date for determining eligibility of dividend : June 30, 2016 (both physical and electronic) Contents Directors’ Report 16 - 62 Independent Auditor's Report 65 - 67 Financial Statements 68 - 140 Basel III - Pillar 3 Disclosures 141 Independent Auditor's Report for Consolidated Financial Statements 142 - 145 Consolidated Financial Statements 146 - 194 Independent Auditor's Certificate on Corporate Governance 195 Corporate Governance 196 - 212 Shareholder Information 213 - 215 HDFC Bank Limited Annual Report 2015-16 15 Directors' Report To the Members, Introduction: Your Directors take great pleasure in presenting the 22nd Annual Report on the business and operations of your Bank, together with the audited accounts for the year ended March 31, 2016. It’s been a transformational year for your Bank in more ways than one. Led by a slew of digital innovations, many of them pioneering and several initiatives in rural India, your Bank was able to cement its position as a premier Bank across markets, from metros to the hinterland. The Bank’s singular endeavour to offer an agnostic customer experience across all its geographies has enabled it to garner not just substantial mindshare but also market share. Your Bank has also contributed as a corporate citizen substantially through its Sustainable Livelihood Initiative, which skills those at the Bottom of the Pyramid and enables them to earn a livelihood by providing captial and in the process substituting usurious lending by the unorganized financial sector. Through its CSR programme, your Bank is helping create sustainable communities. These initiatives helped the larger society bond better with the Bank. They were also instrumental in establishing your Bank as India’s Most Valuable Brand for the 2nd consecutive year in a study conducted by Millward Brown, a leading global research agency specializing in media and brand equity research and a part of communications group WPP.
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