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Company profile:

Axis Bank begun operations in 1994, it was among the first few private banks, which were granted

The bank has a very wide network of more than 1,000 branches. The bank has one of the largest ATM
networks in the country, over 4,397 ATM centres.

Key highlights:

Axis Bank has recorded one of the fastest growths in the industry, in last decade (FY01 – FY10) bank’s
deposits and advances have grown at a CAGR of nearly 40%. In FY10 total business (advances +
deposits) of the bank has grown to Rs245,643cr.

Axis Bank has also maintained (& improved) its profitability in last decade, the net profit of the bank
has grown at a CAGR of 48% (FY01 – FY10). In FY10 Axis Bank reported net profit of Rs2,514cr.

In last decade (FY01 - FY10) bank’s net worth has grown at a CAGR of more than 52%. For the same
period book value per share has grown at 25.8%, reflecting dilution in equity capital of bank at various
intervals. As on March’10 book value per share of Axis Bank is Rs396.

Axis Bank has consistently improved its NIM from 3% in FY04 to 3.75% in FY10. Higher CASA
deposits have helped in lowering the cost of deposits for bank.


At the current market price of Rs1,270 the Axis Bank stock is trading at 21x FY10EPS and 3.2x