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Investormeet 19032019 Final.Pdf A.AXIS BANK AXIS/CO/CS/1024/2018-19 1 9th March 2019 Shri Kautuk Upadhyay Shri Khushro Bulsara The Chief Manager (Listing & Compliance) The Deputy General Manager (Listing) tock Exchange of India Limited BSE Limited Exchange Plaza, 5th Floor 1st Floor, New Trading Ring, Rotundo Plot No. C/1, "G" Block Building Bandra-Kurla Complex, P. J. Towers, Dalal Street Mumbai - 400 051 Fort, Mumbai- 400 001 NSE Code: AXISBANK BSE Code: 532215 Dear Sir(s), SUB.: DISCLOSURE UNDER REGULATION 30 READ WITH PARA A OF SCHEDULE Ill AND REGULATION 46(2) OF THE SECURITIES AND EXCHANGE BOARD OF INDIA (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2015. Enclosed, please find the schedule of Analyst I Investor meeting I interactions held at Mumbai on 19h March 2019, alorig with the presentations made therein, in relation to Banks strategy and its business segment in terms of the captioned subject. The same is being uploaded on the website of the Bank www.axisbank.com You are requested to take note of above and arrangeto bring it to the notice of all concerned. Thanking You. Yours sincerely, Encl.: as above Axis House, Wadia International Centre, Pandurang Budhkar Marg, Worli, Mumbai 400 025 REGISTERED OFFICE : "Trishul" - 3rd Floor Opp. Samartheswar Temple, Near Law Garden, Ellisbridge, Ahmedabad - 380006. Telephone No. 079-26409322 Fax No. - 079-26409321 CIN: L6511 OGJ 1993PLC020769 Website - www.axisbank.com Schedule of the Analyst Day Place: Mumbai Date: 19th March 2019 Sr. No. lnstffutfon Name 1 Alliance Bernstein 2 Ambit Capital 3 Antique Stock Broking 4 Bank of Arnerico ML 5 BNP Paribas 6 CIMB 7 Citibank 8 CLSA 9 Credit Suisse 10 Daiwa Securities 11 Deutsche Bank 12 Edelweiss Securities 13 Elora Securities 14 Emkay Global 15 Goldman Sachs 16 Haitong International 17 HSBC Securities 18 ICICI Securities 19 IDFC Securities 20 IIFL Institutional Equities 21 Investec Research 22 Jefferies 23 JM Financial 24 JP Morgan India 25 Kotak Institutional Equities 26 Macquaire Securities 27 Morgan Stanley 28 Motilal Oswal Securities 29 Nomura 30 Phillip Securities 31 Prabhudas Liladher 32 SBICAP Securities 33 Spark Capital Advisors 34 UBS Securities 35 Sunidhi Securities 36 ICICldirect.com 37 HDFC Securities 38 Sharekhan Ltd 39 B & K Securities 40 t'Jirmal Bang Institutional Equities 4-r" Centrum Broking 42 Reliance Securities 43 India Nivesh Securities 44 Equlrus Capital 45 Dolat Capital 46 Almondz Global -- 47 SMC Global Securities Ltd. .�t>BAN� 48 Dalal and Broacha ,c-g, 49 BP Wealth �k,.\ A • \ � �-'lt 5<-�� � Session 1 - Presentations Session 1 Strategy FY20-22 Strategy FY20-22 Wholesale Risk and Wholesale Risk and Credit Underwriting Credit Underwriting Wholesale Banking Wholesale Banking Axis Bank Strategy FY20-22 Axis Bank has built an enviable franchise over the years Balance Sheet CASA Deposits Advances Branches ` crore 7,56,176 ` crore ` crore 49% retail 2,35,552 3,964 5x 4x 5x 4,75,105 4x 20% retail 1,47,722 50,644 81,557 827 FY09 9M FY19 FY09 9M FY19 FY09 9M FY19 FY09 9M FY19 Credit Cards Operating Profit Subsidiaries Brand Market Share on spends ` crore 13,991 5x 10.0% 5x 2,586 2.1% FY11 9M FY19 9MFY09 9M FY19 2 However, the Bank’s recent performance has moderated compared to its past trends Asset quality deteriorated significantly, driven by corporate slippages CASA growth trended lower than the Bank’s historical growth rates Corporate loan growth trailed the Bank’s long term average growth rates Fee income growth moderated to low teens Cost to Assets remained sticky even as the Bank gained scale Operational risk was elevated 3 Three vectors of our strategy for the next three years rowth rofitability ustainability • Grow deposits in line with loans • Optimize business mix • Strengthen the Core - technology, operations, credit risk and process excellence • Step up growth in Wholesale Bank • Improve operating efficiency • Build a bench of senior talent • Continue momentum in Retail Bank • Sweat existing infrastructure • Focus on disciplined execution • Establish leadership in digital and • Reduce credit cost below long term • Embed conservatism in the Bank’s payments average internal policies and practices • Scale-up subsidiaries materially Our goal is to deliver 18% ROE sustainably 4 The ROE path back to 18% would be driven by three elements ROE 3 drivers of the return to 18% ROE 19.7% Risk normalization 18% 1 Reduce credit cost below long term average Business mix optimization 7.3% 2 Portfolio choices based on RaRoC Improvement in Operating efficiency 3 Avg FY11-15 9M FY19 Medium term Reduce Cost to Assets to 2% Aspiration 5 We are augmenting the talent bench strength and clarifying organizational structures for effectiveness MD & CEO ED ED ED Head Digital Wholesale Retail Corporate CRO CCO CFO Head IT Banking Banking Banking Center MD & CEO – Managing Director and Chief Executive Officer; ED – Executive Director; CRO – Chief Risk Officer; CCO – Chief Credit Officer; CFO – Chief Financial Officer Clarifying Organizational Structures – Key Principles Retail Wholesale Operations Clearly defined Product and Coverage Structure Centralized Operations Team independent of lines of business Separation of Underwriting and Product / Coverage functions Single Bank-wide owner for customer Continue to buttress capabilities in digital, risk management and analytics service Dedicated owner for Customer Experience Focus on both assets and liabilities through a Commercial banking group and Service Quality 6 6 End of deck 7 Wholesale Risk and Credit Underwriting The Bank has gone through a tough period on Credit Risk in the last few years driven primarily by corporate stress Gross Slippages NPA Ratios In ` Crores 6.77% 33,419 5.75% 5.04% 21,782 3.40% 2.36% 10,860 2.11% 1.67% 7,345 0.70% FY16 FY17 FY18 9M FY19 FY16 FY17 FY18 9MFY19 Gross Slippages Gross NPA % Net NPA % 2 The stress recognition phase is now largely behind us BB & below pool* has reduced in size and proportion … … and continues to be the main contributor to new NPA formation BB & below pool Corporate slippages from BB & below In ` Crores 5.34% 4.70% 93% 91% 84% 19,412 19,685 1.80% 1.40% 8,994 7,645 Mar-16 Mar-17 Mar-18 Dec-18 FY17 FY18 9MFY19 Fund Based Outstanding As a % of total customer assets *Only includes corporate book 3 Risk in SME lending has normalized after peaking in FY17 Risk performance in SME Focus remains on building a high rated SME Book Net slippage ratio* in SME 86% of SME exposure* has a rating of at least ‘SME3’ 6% 6% 8% 14% 16% 11% 2.2% 67% 66% 66% 1.6% 1.6% 1.4% 0.9% 1.0% 9% 6% 8% 5% 6% 6% FY14 FY15 FY16 FY17 FY18 Q3FY19 Mar-17 Mar-18 Dec-18 SME 1 SME 2 SME 3 SME 4 SME 5-7 * Net slippage ratio = Net slippages / Opening Net Advances, annualized * Only includes standard exposure 4 Credit cost has come down from peaks reached in FY18 Bank Credit cost 3.57% 2.82% 2.17% 1.11% FY16 FY17 FY18 9MFY19 5 We have learned some important lessons from this experience Key Learnings . Our Credit filters for new credit proposals need to . We need to reduce our exposure to project loans be raised. We need to diversify our portfolio and reduce . Our Early Warning Systems for potential stress concentration. need to be sharpened. We needed to have an independent credit function with full accountability, which has been implemented 6 We are moving towards a better rated credit portfolio Fresh originations are predominantly … resulting in a better rated … and with reduced project from entities rated A- or better … portfolio exposure Percentage of sanctions rated A- & 82% of corporate exposure* is rated Exposure to projects ` above ‘A-’ or better In Cr 94% 46,234 85% 86% 12% 13% 14% 34,933 79% 31,608 25% 34% 36% 22,989 31% 30% 32% 22% 18% 14% 10% 5% 4% FY16 FY17 FY18 9MFY19 Mar-17 Mar-18 Dec-18 FY16 FY17 FY18 9MFY19 BB or below BBB A AA AAA * Only includes standard exposure 7 We have also strengthened the risk framework in the wholesale bank Risk Appetite Statement and Guardrails Stronger Rating Models Agile EWS Architecture Organization Structure Changes 8 Way Forward Reduced exposure to project loans with increased Portfolio diversification with reduction in focus on transaction banking and working capital concentration risk business Leverage learnings from the past towards Strengthened Early Warning Systems improved policy, processes and organization structure Set up mid-market underwriting function 9 End of deck 10 Wholesale Banking We are transforming the Wholesale Bank, creating an integrated franchise Re-Oriented Coverage Groups Focused Segmental Large Corporate Mid Corporate Commercial Banking Coverage Bank and Subsidiary Products Liabilities and Transaction Credit Treasury Banking Strengthened Operations and Service Infrastructure Note: Classification based on client annual revenue – Commercial ( `10 cr- `250 cr); Mid (` 250 cr- ` 1000 cr); Large ( > ` 1000 cr) 2 The last 3 years have been challenging for Corporate loan growth, even as our flow business has continued to thrive Corporate Loan growth has been sluggish recently Transaction Banking Fees has continued to grow strongly Y-o-Y growth Y-o-Y growth 22% 15% 20% 13% Transaction Banking fee 11% 9% 12% 4% 5% 4% 2% 0% -6% -11% -13% Corporate credit-linked fees Mar-14 Mar-15 Mar-16 Mar-17 Mar-18 Dec-18 -21% FY15 FY16 FY17 FY18 9MFY19 FY20-22 strategy elements FY20-22 strategy elements • Segmental focus for strengthened coverage • Build non-credit share of wallet • Profitable growth, quantified by RAROC • Increase penetration in payments • Continued focus on Asset Quality • Become a preferred digital partner 3 Domestic
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