analysis of financial results september 2017 - karnataka bank · pdf fileanalysis of financial...

Analysis of Financial Results

September 2017

2

Table of Contents

Annexure

Financial Performance

Business Strategy

Company Overview

3

Time tested Bank with over 93 years of banking history 1.

Pan-India footprint2.

Robust technology and risk management systems3.

Strong productivity, capital adequacy ratios4.

Experienced management team & Professional Board5.

Company Overview

Highest Standards of Corporate Governance6.

7. Consistent track record of profit since inception

8. Powered by KBL - VISION 2020

4

• Incorporated in 1924, Karnataka

Bank is one of the oldest time

tested private sector Banks.

• Offers wide variety of corporate

and retail banking products and

services to over 9.2 million

customers.

• Forayed into General Insurance

business as a JV partner in

Universal Sompo General

Insurance Company Limited.

• 2,173 service outlets with 773

branches, 3 Extension Counters

and 1,397 ATMs in 507 centres

across India as on Sept 30, 2017.

• Business Turnover of ` 97,685

crore as at 30.09.2017.

1995

1977

1960 to

1966

• Took over assets and liabilities of Sringeri Sharada Bank Ltd, Chitaldurg Bank & Bank of Karnataka, Hubli.

• Became an authorised dealer of foreign exchange

• Public issue of 45 lakh equity shares in October 1995

2000 • Implementation of “Finacle” CBS

2002• Bancassurance tie-up with MetLife• Maiden bonus issue in the ratio of 1:1

2005 • Completed 2:1 rights issue to raise ` 160 crs

2006

• Floated general insurance JV along with Allahabad Bank, Indian Overseas Bank, DaburInvestments and Sompo Japan Insurance

• Launched CDSL-DP services at select branches

1924• Incorporated on 18th February 1924 at Mangalore by Late B R Vyasarayachar & other leading

members of the South Kanara Region

2003 • Right issue in the ratio of 1:2

2007 • Completion of 100% core banking

2009 • Compliance with Basel-II norms

2010 • Maiden QIP aggregate ` 160.83 crs.

2012

• BPR implementation under the guidance of M/s KPMG Advisory Services Pvt Ltd. commenced

• Business Turnover crossed the milestone of ` 50,000 crore• No. of branches crossed 500• Average turnover per branch crossed ` 100 crore• Launched ASBA facility

2011 • Right issue of ` 457.03 crore in the ratio of 2:5.• Launched Online Trading facility

History & Evolution

2013 • Secured ISO 27001 : 2005 Certificate from NQA

• Business turnover crossed the milestone of ` 75,000 crore2014

• Unveiled KBL – VISION 2020 & adopted Vision Statement• No. of ATMs crossed 1,000

2015

• Completed 1:2 rights issue to raise ` 658.96 crs2016

• Formed Investor Relation Cell• Networth of the Bank crossed ` 5,000 crs

2017

Awards & accolades received during the FY 2017-18:

STP Award 2016 in recognition of its outstanding payment formatting & Straight- Through

Rate instituted by The Bank of New York Mellon.

MSME Banking Excellence Award - 2016, instituted by CIMSME:

Runner Up - CSR Initiatives & Business Responsibility [Emerging category].

APY Awards, instituted by PFRDA:

Winner – Indian Pension League,

Best Performing Branch [Guwahati] under Customer First Campaign, under the

category of Small Private Sector Bank,

Winner - Brand Ambassador Trophy.

ISO 9001 : 2015 Certification, bagged by Bank‟s Staff Training College at Mangaluru for

compliance to quality management standards, instituted by TVE Certification Services Pvt.

Ltd., Trichy.

Best Bank Award among Small Banks for use of Technology for Financial Inclusion,

instituted by IDRBT.5

Awards & Accolades

6

Shri Mahabaleshwara M S, Managing Director & CEO, receiving theaward from Shri Sudarshan Sen, Executive Director, Reserve Bankof India, at Hyderabad on 01-09-2017. Bank has bagged the “BestBank Award among Small Banks for use of Technology forFinancial Inclusion” from IDRBT .

7

Pan-India footprintPan-India Presence

Total 2,173 service outlets –773 branches, 3 Extension

Counters & 1,397 ATMs

Total 31 e-Lobbies & 88 mini e-Lobbies

Specialized branches for Forex, Industrial, Agriculture,

MSME, Corporate business & Financial Inclusion

103 Financial Inclusion branches, 37 Ultra Small branches

Expanding network in northern India also.

25

21

2

4

23

7

10

9

3

476

20

7

49

8

1

6

6

51

11

5

19

Has the strongest presence in South India with 600 branches

No of branches & ATMs

Area wise distribution of branches (Sept ‟17)

736 765 773

1,319 1,380 1,397

Sept '16 Mar '17 Sept '17

Branches ATMs

Metro28%

Urban27%

Semi Urban24%

Rural21%

Top 5 States:Karnataka (476), Tamilnadu (51), Maharashtra (49), Andhra Pradesh (34), Delhi (23)

1718

34

1

8

Robust technology platform and risk management systems

Strong technology platform

Pioneer in implementing “Finacle” (CBS) amongst the old generation private sector banks

State-of-art IT set up which has enabled Anytime Anywhere Banking through alternate delivery

channels such as ATMs, VISA International Debit Card, RUPAY Debit Card, Internet Banking,

Mobile Banking, IMPS, e-lobby etc.

Enabled Online Account Opening, implemented „M-Passbook‟ (Mobile Passbook), „KBL Apna

App‟ (SMS Banking) etc as additional facilities for the convenience of customers.

Also offers other products such as NGRTGS, NEFT, NECS, CTS, Online Trading, ASBA facility,

Gift Card, Travel Card, Biometric Smart Card under Financial Inclusion, PoS Network, Online

inward remittance facility to NRIs etc.

Implemented Lending Automation Processing System (LAPS) software for efficient life cycle

management of loan accounts and improved monitoring.

Implemented an Enterprise Level Fraud Risk Management System (ELFRMS) for effective cyber

fraud prevention across delivery channels.

Launched Mobile Banking App on Unified Payment Interface (UPI) Platform branded

“KBL SMARTz”, which is recently renamed as “BHIM KBL UPI”.

The existing “ISO 27001:2013” certificate encompassing the Information Security Management

System (ISMS) at the Bank‟s Data Centre, Near line Site [NLS] at Bengaluru and Information

Technology Department including the DR site [IT & DR] at Head Office, Mangaluru, has been

renewed by AJA Registrars, UK, for a further period of three years up to March 2019, reflecting

the Bank‟s continued commitment to technology adoption.

9

Robust technology platform and risk management systems

Effective risk management system

Periodical monitoring & reviewing of risk profile of the bank.

Internal Credit Rating of all the borrowers: Credit exposure above INR 25 lakh are ratedborrower-wise and credit facilities below INR 25 lakh & all schematic advances includingagri-credit proposals are rated under „Pool based approach‟.

Continuous offsite surveillance of borrower accounts.

Effective ALM/mid office set up to monitor Liquidity risk/ Market risk on a continuousbasis.

For effective Operational risk management:

o Bank is building up a database of internal Loss data, near- miss cases and otherOperational risk events, since Sept 2007.

o Bank has an effective AML monitoring system to scrutinize the customer transactions toensure compliance to the extant guidelines.

Bank has taken all necessary steps for migration to „Basel II advanced approaches‟ underCredit, Market and Operational Risk and also complied with the extant „Basel III‟ guidelinesof RBI.

Bank has implemented a scientific Fund Transfer Pricing (FTP) & Customer ProfitabilityManagement System (CPMS) to assess the performance of branches / products / portfolios /customers.

10

Financial strength of the Bank

283283188

5,0074,860

3,748

5,143

3,936

5,290

0

2,000

4,000


Capital Reserves

Market capitalisation (` crs)

2,7703,975 4,000

0

2,000

4,000


Networth (` crs)

Highlights – H1 FY 18

11

KPAs H1 FY 18 H1 FY 17

Net profit 227.23 245.36

Operating profit 675.94 494.67

Turnover 97,685 89,707

Return on Asset 0.71% 0.84%

Earning per Share * 8.04 11.63

Return on Equity 8.71% 12.87%

Net Interest Margin 3.03% 2.95%

Gross NPA 4.13% 3.64%

Net NPA 3.04% 2.63%

Cost to Income 49.17% 56.07%

CRAR (Basel III) 12.46% 11.19%

(` crs)

* Not annualized

12

Return and Capital Adequacy Ratios

12.87%10.24%

8.71%

0%

5%

10%

15%

20%


Return on Equity (%) (after tax) Return on Assets (%) (after tax)

0.84%0.74%

0.71%

0.0%

0.5%

1.0%

1.5%


Capital Adequacy (%) - Basel III

11.4412.219.84

1.031.09

1.36

13.30

11.19

12.46

0

4

8

12

Sept'16 Mar '17 Sept '17

Tier I Tier II

13

Productivity ratios

Operating Profit per employee (` lakh) * Operating Profit per branch (` lakh) *

134.4 130.2 174.9

0

50

100

150


Business per employee (` crs) Business per branch (` crs)

121.9 122.5 126.4

0

40

80

120


12.7 12.516.7

0

3

6

9

12

15


11.5 11.7 12.1

0

3

6

9

12


* annualised

14

Financial Performance

15

Income & Profit

Net Income (` crs)

495

996

676

245 452

227

0

250

500

750

1,000


Operating profit Net profit

Operating and Net Profit (` crs)

Net Interest Margins (%)

2.95%2.79%

3.03%

2.0%

2.5%

3.0%

3.5%

4.0%


Cost to Income Ratio (%)

56.07% 56.70%

49.17%

40%

50%

60%


865

1,491

762

465

809

364

2,300

1,1261,330

0

500

1,000

1,500

2,000

2,500


Net Interest Income Other Income

(6 months) (6 months)(12 months) (6 months) (6 months)(12 months)

16,16316,47313,980

40,19440,08938,951

201171165

0

10,000

20,000

30,000

40,000

50,000

60,000


CASA Retail Wholesale deposits

16

Deposits

Deposits (` crs)

Savings

Bank22.56%

Current

Account6.02%

Wholesa

le deposits

0.36%

Retail

Term Deposits

71.07%

Deposits break up (Sept „17)

53,096

56,55856,733

26.33%29.04% 28.58%

0%

10%

20%

30%


CASA share to total Deposits

17

Deposits

NRI Deposits (` crs)

Domestic

deposits93.73%

NRI deposits

6.27%

3,294 3,502 3,547

6.20% 6.17% 6.27%

0%

2%

4%

6%

8%

10%

0

1,000

2,000

3,000


Amount %

6.91% 6.73%6.23%

4%

6%


Cost of Deposits

18

Advances [Net] (` crs)

36,611 37,00441,127

0 5,000

10,000 15,000 20,000 25,000 30,000 35,000 40,000


Advances

RatingNo of

BorrowersBalance O/s

(in crs)

% to GBC

AAA 11 2,561.08 6.16

AA 26 3,230.75 7.77

A 30 1,325.38 3.19

BBB 38 1,557.95 3.75

BB 28 1,445.56 3.48

B 13 323.89 0.78

C - - -

D 8 723.67 1.74

Total 154 11,168.28 26.86

Gross Bank Credit 41,573.49

External rating wise Credit Portfolio as of Sept„17 [corporate borrowers]

19

Advances

Segmentation of Advances (Sept „17)

Medium

Ent.

3.07%

Other

Personal

loans

6.06%

Large Ent.

11.35%

Housing

12.87%

Agricultur

e *

13.22%

Micro-

Small Ent.

21.82%

Others

31.60%

* However, this works out to 16.89% of the ANBC of 30.09.2016.

52.3% 52.6%49.8%47.7% 47.4% 50.2%

0%

25%

50%


Retail Advances

Retail & Corporate Advances (%)

20

Advances

Priority Sector Advances (` crs) 1

4,3

45 16

,15

0

16

,87

2

17

,23

9

17

,35

0

46.82% 47.57% 48.84% 48.13% 45.18%

0%

20%

40%

60%

10,000

12,500

15,000

17,500

20,000

Mar '15 Mar '16 Sept'16 Mar '17 Sept '17

Amount %

*Agriculture Advances (` crs)

5,1465,837 5,818

6,583 6,586

16.79% 17.19% 16.84%18.38%

16.89%

9.0%

12.0%

15.0%

18.0%

0

2000

4000

6000


Amount %

*

Advances to Weaker Section (` crs)

* Base figure for the calculation of % is ANBC as on March 31st of previous year.

2,585 2,603 2,526 2,544 2,523

8.44%7.67% 7.31% 7.10% 6.57%

1.0%

6.0%

11.0%

0

1,000

2,000

3,000


Amount %

*

69.0% 65.2% 72.7%98.7%

49.7%

130.4%104.4%

173.4%


CD Ratio Incremental CD Ratio [Annual] Incremental CD Ratio [Quarter]

Credit Deposit ratio (%)

CD Ratio & Yield on Advances

11.06% 10.81% 10.15%

4.15% 4.08% 3.92%

0%

5%

10%

15%


Yield on advances Interest spread

Yield on Advances & Interest Spread (%)

21

798.53%

22

NPAs

Gross NPAs (` crs)

1,3451,582

1,716

3.64%4.21% 4.13%

0%1%2%3%4%5%6%

0

400

800

1,200

1,600


Gross NPA Gross NPA %

Net NPAs (` crs)

961 9751,247

2.63% 2.64%3.04%

0.0%

0.5%

1.0%

1.5%

2.0%

2.5%

3.0%

3.5%

0

300

600

900

1200


Net NPA Net NPA %

570

1,348

872

406

947

738

0

500

1000

1500


Fresh Accretions to NPA Stock Recovery / Upgradation

Fresh accretions and recoveries (` crs)

(6 months) (12 months) (6 months)

Restructured Advances(` crs)

SectorRestructured

Adv.Of which,

NPA

Infrastructure 506.55 38.86

Large Industry 355.76 46.39

MSME [excl. Infrastructure] 54.36 7.19

Real Estate [including CRE, excluding Services]

42.16 -

Others 33.83 10.67

Agriculture 28.46 13.71

Education [Individual + Institution]

5.39 0.85

Wholesale/Retail Trade [excl. services]

1.71 -

Grand Total 1,028.22 117.67

Sector wise Restructured Adv. as Sept „17:

Restructured loans & related accounts

23

199328

118

Of which, NPA

6879321,055

342

434

603

0

500

1,000

1,500

2,000


Restructured loans Related a/cs

1,658

1,028

1,365

24

Investments

Investments [excl. RIDF] (` crs)

16,736

20,220

16,734

0

5,000

10,000

15,000

20,000


Shares

0.79%

SLR

80.63%

Debentures,

Bonds, CD,

MF

18.58%

Yield on Investments (%)

7.34% 7.08% 6.77%

4%

6%

8%


HFT

0.15%

AFS

32.83%

HTM

67.03%

AFS HFT HTM TOTAL

2.07 0.01 5.70 4.50

Duration

25

Share holders‟ value

Dividend (%)

179.84 195.83 177.12

75

125

175

225

Mar '15 Mar '16 Mar '17

Earning Per Share (`)

23.2619.38

16.08

0

5

10

15

20

25

Sept '16 * Mar '17 Sept '17 *

Book value (`)

50% 50%40%

0%

10%

20%

30%

40%

50%

60%

Mar '15 Mar '16 Mar '17

Banks, FIs, MF, Insuranc

e Cos11.20%

Foreign Portfolio Investors18.71%

Indian Public61.03%

Others9.06%

Share holding pattern (Jun 2017)

* annualised

Leveraging on Technology

44.49%50.41%

53.06%

61.56%

20%

40%

60%

Mar '15 Mar '16 Mar '17 Sept '17

Migration to Digital Channel

[share of ADC transactions to total CBS transactions]

372.34446.1 489.2

684.3767.1

883.5

Q1(FY 2016-17) Q2(FY 2016-17) Q3(FY 2016-17) Q4(FY 2016-17) Q1 (FY2017-18) Q2 (FY2017-18)

No. of Regd. Users (Thousand)

203 249

1455 1324

28443287

2 3

16 15

32

37

No. of Transactions (in Thousand)

Avg Transactions per day (Thousand)

146.0 202.3

1228.5 1269.4

2571.73056.1

2 2

14 14

29

34

Value of Transactions (Crore)

Avg Value of Transactions per day (Crore)

Mobile Banking

31.26 31.99 32.96 35.47 36.86 38.03

75.60%75.97% 76.03%

78.04%

79.01%79.60%

Q1(FY16-17) Q2(FY16-17) Q3(FY16-17) Q4(FY16-17) Q1(FY17-18) Q2(FY17-18)

No.of Cards issued(Lakhs) Penetration


66.11 77.3734.61 39.01 58.76 76.5

67.3269.9

89.74106.71 90.58

90.98

KBL ATM Shared Network (VISA/NFS)

133.45 147.28124.35

145.71 149.34167.47

De

bit

card

s P

en

etr

ati

on

Card

s U

sag

e

Debit Cards

PO

S T

ran

sact

ion

sE

CO

M

Tra

nsa

ctio

ns

781 869

3659 39443178 29469 10

4144

35 33

Txn (Thousand) Txn per day(Thousand)

164.79 177.55

592.8 607.45508.07 429.32

1.83 1.97

6.59 6.755.65

4.77

Amt (Crore) Amount per day (Crore)

8481126

15721952 1981 1951

913

17

22 22 22

Txn(Thousand) Txn per day(Thousand)

49.86 64.02

131.01156.56 160.72 164.070.6

0.7

1.51.7 1.8 1.8

Amt(Crore) Amount per day (lakhs)

POS & ECOM transactions

PO

S T

ran

sact

ion

Valu

e

3262 36945685

1031411915

14072

4321991

4629

1601 2157


No.of machines installed New machines added

PO

S I

nst

all

ati

on

Rep

ort

13,127 13,630

33,43635,990 36,286 35,814


Value of transactions (Lakhs)

Point of Sale (POS) Business

31

Annexure

32

Deposits & Advances

` crs Sept-16 Mar-17 Sept-17

Total Deposits 53,096 56,733 56,558

CASA Deposits 13,980 16,473 16,163

Retail Deposits 38,951 40,089 40,194

Wholesale Deposits 165 171 201

Total Advances 36,611 37,004 41,127

Priority Sector Advances 16,872 17,239 17,350

Agri Advances 5,818 6,583 6,586

MSE Advances 8,805 8,496 9,073

Advances to Weaker Section 2,526 2,544 2,523

33

Income & Expenditure

` crs Mar-17[12 months]

Sept-16[6 months]

Sept-17[6 months]

Interest Income 5,185 2,567 2,649

Interest Expense 3,694 1,805 1,784

Net Interest Income 1,491 762 865

Fee Income 505 251 304

Treasury Income 304 113 161

Non-Interest Income 809 364 465

Total Income (Net of Interest Expense) 2,300 1,126 1,330

Operating Expenses 1,304 631 654

Operating Profit 996 495 676

Provision for loan losses in Adv. / losses in Invts. / Taxes / other

544 250 449

Net Profit 452 245 227

34

` crs Mar-17[12 months]

Sept-16[6 months]

Sept-17[6 months]

Interest Income

Interest Income 5,185 2,567 2,649

Interest on Advances 3,794 1,906 1,959

Interest on Investments 1,271 618 622

Other interest 120 43 68

Yield on Advances 10.81% 11.06% 10.15%

Adjusted yield on Invts. 8.88% 8.67% 8.43%

Interest Expense

Interest Expense 3,694 1,805 1,784

Interest on Deposits 3,601 1,760 1,744

Other interest 93 45 40

Cost of Deposits 6.73% 6.91% 6.23%

Net Interest Income

Net Interest Income 1,491 762 865

Interest Spread in Lending 4.08% 4.15% 3.92%

Net Interest Margin on average assets 2.79% 2.95% 3.03%

Interest Income & Interest Expenditure

35

Capital Adequacy under BASEL III

` crs Sept-16 Mar-17 Sept-17

Total Risk Weighted Assets 37,357 38,902 42,019

Total Capital Fund 4,182 5,172 5,236

Total Tier I Capital 3,675 4,749 4,805

Paid up Equity Capital 188 283 283

Reserves under Tier I Cap. 3,487 4,467 4,523

Total Tier II Capital 507 423 431

Surplus Provisions & Reserves 311 258 306

Subordinated Debt Fund 196 165 125

Total CRAR 11.19% 13.30% 12.46%

CRAR Common Equity Tier I Capital 9.84% 12.21% 11.44%

CRAR Tier I Capital 9.84% 12.21% 11.44%

CRAR Tier II Capital 1.36% 1.09% 1.03%

Other initiatives / developments

36

Tied up with Life Insurance Corporation of India for distribution of life insurance

products.

Tied up with HDFC MF Asset Management Co. for distribution of their Mutual

Fund products.

Launched KBL-Image Debit Card.

Enabled Cash Recyclers on pilot basis at different locations.

Enabled Talking ATM facility at some of our ATMs.

Introduced value added services to debit card holders through IVR facility.

Launched Bank‟s official page on social media - FaceBook, Twitter, Instagram and

YouTube.

Opened Bank‟s Aadhar Enrollment and Updation Centres at Bengaluru,

Coimbatore, Gurugram & Faridabad.

Joined hands with Isha Foundation for Rally for Rivers campaign.

Corporate Social Responsibility

Sponsorship of construction ofcompound wall to Viveka group ofeducational institutions managed byKota Vidya Sangha ®, Kota.

Donation of food distribution vehicle tomid-day meal programme of M/s TheAkshaya Patra Foundation, Bengaluru.

38

Business Strategy

Highlights of KBL – VISION 2020 Document

39

Bank has adopted a Vision Statement, “To be a Progressive, Prosperous and well

Governed Bank”.

Bank‟s total business turnover is projected to increase in a progressive manner to

touch ` 1,80,000 crore by March 2020.

Service outlets are projected to touch 3,500 [1,000 Branches + 2,500 ATMs] by

March 2020. E-lobbies / Mini e-lobbies to touch 250.

Digital Banking initiative to be taken forward by increasing the digital touch

points.

Bank aims to become a Preferred Banker to atleast 1% of India‟s population by

March 2020.

Credit quality initiatives, Risk management practices, Compliance culture &

Marketing initiatives to be further strengthened.

Rationalization of ATMs & Branches.

Bank is actively considering a total transformation exercise to

reposition itself as a significant & relevant force in the days to

come, in active association with an external consultant.

Corporate Goal for 2017 -18

40

Business Turnover of ` 1,10,000 crore.

Opening of 35 new Branches to take the total no. of Branches to 800.

To introduce following products and services:

• Cash Recyclers,

• Corporate Mobile Banking,

• KBL Locator and e-Address book app.

• Centralized account opening.

Business Strategy

41

Minimum space maximum business.

20:30:40 formula for business augmentation during the next 3 years.

Credit augmentation

Focus on MSME sector

Focus on mid-corporate & retail sectors.

NPA & Stressed Assets management

Minimising slippages and improving recovery management.

CASA deposits

Maintaining CASA share of atleast 30%

Focusing on further customer onboarding.

Digital Banking initiatives

Focus on digital marketing of Bank‟s products & services

Value addition to Bank‟s existing Mobile Banking channel

Installation of self service kiosks

Enabling Cash Recyclers

Extension of Cash@POS facility

Parabanking activities.

WE EXPRESS OUR HEARTFELT GRATITUDE TO ALL

OUR STAKE HOLDERS FOR THEIR TRUST &

SUPPORT AND SOLICIT THEIR CONTINUED

PATRONAGE, AS WE CONTINUE OUR JOURNEY

WITH RENEWED DEDICATION & COMMITMENT TO

MAKE OUR BELOVED KARNATAKA BANK A

FINANCIAL POWER HOUSE.

42

Board of Directors

P Jayarama Bhat

Non Executive Chairman

43

Ashok Haranahalli Bengaluru Advocate

Mrs Usha Ganesh, IAS

Bengaluru Former Member of Karnataka Administrative Tribunal

Rammohan Rao Belle Bengaluru Former MD & CEO, SBI Gen. Insu. Co. Ltd

B A PrabhakarBengaluru Former Chairman & MD of Andhra Bank

U R Bhat Mumbai Investment Adviser & Columnist

Keshav Krishnarao Desai Hubballi Businessman

D. Surendra Kumar, Shri Kshethra Dharmastala, Dakshina Kannada

Edicationist

Mahabaleshwara M S

Managing Director & CEO

Disclaimer

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reviewed or approved by any statutory or regulatory authority in India or by any Stock Exchange in India and may not comply with all the disclosure requirementsprescribed thereof. This presentation may not be all inclusive and may not contain all of the information that you may consider material. No part of it should form

the basis of or be relied upon in connection with any investment decision or any contract or commitment to purchase or subscribe for any securities. Any liability inrespect of the contents of, or any omission from, this presentation is expressly excluded. No representation or warranty, express or implied is made as to, and no

reliance should be placed on, the fairness, accuracy, completeness or correctness of such information or opinions contained herein. Neither the Bank nor any of itsrespective affiliates, advisers or representatives, shall have any liability whatsoever (in negligence or otherwise) for any loss howsoever arising from any use of this

presentation or its contents or otherwise arising in connection with this presentation. The information contained in this presentation is only current as of its date.Certain statements made in this presentation may not be based on historical information or facts and may be “forward-looking statements”, including those relating

to the Bank‟s general business plans and strategy, its future financial condition and growth prospects, and future developments in its industry and its competitiveand regulatory environment. Actual results may differ from these forward-looking statements due to a number of factors, including future changes or developments

in the Bank‟s business, its competitive environment, information technology and political, economic, legal and social conditions in India and worldwide. Further,past performance is not necessarily indicative of future results. Given these risks, uncertainties and other factors, viewers of this presentation are cautioned not to

place undue reliance on these forward-looking statements. The Bank disclaims no obligation to update forward looking statements to reflect events or circumstancesafter the date thereof. This presentation is for general information purposes only, without regard to any specific objectives, financial situations or informational needs

of any particular person. This presentation and any information presented herein are not intended to be, offers to sell or solicitation of offers to buy the Bank‟s equityshares or any of its other securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful. The

Bank‟s equity shares have not been and will not be registered under the U.S. Securities Act 1993, as amended (the Securities Act”) or any securities laws in the UnitedStates and, as such, may not be offered or sold in the United States or to, or for the benefit of, U.S. persons (as such term is defined in Regulation S under the

Securities Act) absent registration or an exemption from the registration requirements of the Securities Act and applicable laws. Any offering of the equity sharesmade, if any, in the United States (or to U.S. persons) was made by means of a prospectus and private placement memorandum which contained detailed

information about the Bank and its management, as well as financial statements. The Bank may alter, modify or otherwise change in any manner the content of thispresentation, without obligation to notify any person.

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