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Financial Analysis of Indian Public Sector and Private Sector Banks Using
CAMELS Approach

Conference Paper · February 2018

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Financial Analysis of Indian Public Sector and Private Sector Banks Using CAMELS
Approach

*Dr. K. Sasi Kumar

**Dr.N.C.Rajyalakshmi

ABSTRACT

Banking industry, a highly regulated sector in the country, assessing the financial performance
of such sector is always crucial for the economy. The study examined the performance of select
public sector banks viz., Andhra Bank, Bank of Maharashtra, Bank of Baroda, Canara Bank,
PNB and private sector banks viz., LVB, ICICI Bank, HDFC Bank, Kotak Mahindra Bank,
IndusInd Bank by using CAMELS Approach. In the first phase, all the ratios of the select banks
are calculated viz., CAR, Asset Quality Ratios and Management Soundness, Earnings and
Profitability Ratios and Liquidity Ratios, and second phase of the study deals with comparison
of various ratios (both year wise and bank wise) and then composite ranking is assigned to all
the select banks. Across the select banks a detailed ranking exercise is undertaken, to examine
the financial performance of the select banks. The study covers a period of 2011 to 2016 of 10
select banks and the financial data required for the study has been extracted from various annual
reports and publicly available data sources.

Overall averages and rankings of all the components are the outcomes of the study on ten public
and private sector banks using CAMELS approach. Punjab National Bank with an average of
25.05% has been ranked first followed by Bank of Baroda with 24.72%, Andhra Bank with
24.59%. Based on the Ranking assigned to select banks in the study it is observed that Punjab
National Bank has been ranked first followed by Bank of Baroda, Andhra Bank, Lakshmi Vilas
Bank.

Key Words: Capital Adequacy Ratio (CAR), Asset Quality, Earnings and Profitability Ratios
_____________________________________________________________________________

Introduction - CAMELS Framework

The CAMELS Rating Framework is a system of rating for on-site examinations of banking
institutions (Barr et al., 2002). The Uniform Financial Institution Rating system, commonly
referred to the acronym CAMEL rating, was adopted by the Federal Financial Institution
Examination Council on November 13 1979, and then adopted by the National Credit Union
Administration in October 1987 (The United States, Uniform Financial Institutions Rating
System, 1997).

*Dr. Kompalli Sasi Kumar, Associate Professor-Finance, Siva Sivani Institute of Management,
NH-7, Kompally, Secunderabad-500100, M: 9848192864, Email id:
sasikumarkompalli@gmail.com

**Dr.N.C.Rajyalakshmi, Professor-Finance, Siva Sivani Institute of Management, NH-7,

Kompally, Secunderabad-500100, M: 9393332652, Email id:rajyalakshmi@ssim.ac.in
It is recognized to be an effective internal supervisory tool for evaluating the soundness of
financial firms especially banks. CAMEL is, basically, a ratio-based model for evaluating the
performance of banks. Various ratios’ that make the Framework are detailed as follows:

Capital Adequacy

Capital Adequacy indicates the banks capacity to maintain capital commensurate with the nature
and extent of all types of risks, as also the ability of the bank’s managers to identify, measure,
monitor and control these risks. It reflects the overall financial condition of the banks and also
the ability of management to meet the requirement for additional capital. This ratio acts as an
indicator of bank leverage.

Reserve Bank of India prescribes banks to maintain a minimum Capital to risk-weighted Assets
Ratio (CRAR) of 9 % with regard to credit risk, market risk and operational risk on an ongoing
basis as against 8 % prescribed in Basel documents. The following ratios measure Capital
Adequacy:

• Capital Adequacy Ratio

• Debt Equity Ratio
• Total Advances to Total Assets Ratio
• Government Securities to Total Investment Ratio

Asset Quality

Asset Quality reflects the magnitude of credit risk prevailing in the bank due to its composition
and quality of loans, advances, investments and off- balance sheet activities. Asset quality
defines the financial health of banks against loss of value in the assets, weakening of assets,
risks the solvency of the financial institutions especially banks. This declining value of the
bank’s assets has an effect, as losses are ultimately written-off against capital, which eventually
affects the earning capability of the bank. The following ratios measure Asset Quality:

• Gross Non-Performing Assets Ratio

• Net Non-Performing Assets Ratio

Management Soundness

Management Soundness parameters signal the ability of the board of directors and senior
managers to identify, measure, monitor and control risks associated with the bank. The
management of the bank takes crucial decisions depending on its risk perception. It sets vision
and goals for the organization and sees that it achieves them. The following ratios measure
Management Soundness:

• Total Advance to Total Deposits Ratio

• Business Per Employee Ratio
• Profit Per Employee Ratio
Earnings Quality

The quality of earnings represents the sustainability and growth in future earnings of the bank
and the competency of the bank to sustain maintain this quality and earn steadily. It is an
indicator of profitability of banks. The ultimate aim of a bank is to increase its bottom line and
bring profit to the stakeholders. The following ratios measure the Earnings Quality:

• Dividend Payout Ratio

• Return on Assets Ratio
• Interest Income to Total Income Ratio

Liquidity

Every bank should ensure that it is able to maintain adequate level of liquidity to meet its
financial commitments in a timely manner. In order to fulfill the demands of the customers; the
creditors and the depositors, banks must maintain liquidity in their asset, as the influence of
liquidity crisis in banks can adversely impact their financial performance. Liquidity is an
important aspect for any organization dealing in money and banks rank ahead in the list of
institutions that deal with money and therefore have to maintain that apt balance between
profitability and liquidity. The following ratios measure Liquidity:

• Liquid Assets to Total Assets Ratio

• Liquidity Assets to Total Deposits Ratio
• Government Securities to Total Assets Ratio

Review of Literature
Aswini Kumar Mishra (2013) analyzed the soundness and the efficiency of 12 public and private
sector banks based on market cap. CAMEL approach has been used over a period of twelve
years (2000-2011), and it is established that private sector banks are at the top of the list, with
their performances in terms of soundness being the best. Public sector banks like Union Bank
and SBI have taken a back seat and display low economic soundness in comparison.

Jaspreet Kaur , Manpreet Kaur and Dr. Simranjit Singh measured and compared the financial
performance of leading five public sector banks, on the basis of total assets and consolidated
basis, in India for 5 years from 2009-2014. The banks include Bank of Baroda, State Bank of
India, Punjab National bank, Bank of India, and Canara Bank. The data is collected from annual
reports of these banks and various ratios have been calculated measuring the aspects of CAMEL
model.

Khaled A. Zedan, Ghassan Daas evaluated the performance and financial soundness of
Palestinian Commercial bank for the year 2015 using CAMEL rating model. They applied
capital adequacy ratio to analyze capital adequacy parameter, non-performing loans to total
loans, to analyze the assets quality parameter, non-expense ratio for analyzing management
quality parameter, return on assets and return on equity to analyze earnings ability and total
loans to total deposits ratio to analyze liquidity management.
Gazia Jamil Sayed and Najmus Sahar Sayed(2013) made a comparative analysis of four private
sector banks namely, Axis bank, ICICI bank, Kotak Mahindra bank and HDFC bank to know
and examine the key drivers and performance of each bank and how they are ahead and
differentiate from each other. Secondly, to know whether banks follow prescribed parameters of
banking operations within which the country's banking and financial system functions. The data
collected for comparing the banks performances pertains to a period of 3 years i.e.2008-09,
2009-10 and 2010-11.

Mihir Dash and Annyesha Das performed analysis for a sample of 58 banks operating in India,
of which 29 were public sector banks, and 29 were private sector/foreign banks. The study was
for the period of 2003-04 to 2007-08. The results of the study show that private/foreign banks
are better than public sector banks on most of the CAMELS factors in the study period. The two
contributing factors for the better performance of private/foreign banks were management
soundness and earnings and profitability.

Mulualem Getahun analyzed the financial performance of Ethiopian Commercial Banks using
CAMEL approach and rank the banks based on their performance as well as to test the existence
of the relationship between the selected CAMEL factor measurements with the profitability
measures. The financial performance of Fourteen Commercial Banks examined by using panel
data from year 2010 to year 2014. The study suggests focusing and reengineering the banks
internal drivers could enhance the profitability of commercial banks in Ethiopia.

Kumar and Selvan measured the financial performance of selected public and private banking
sectors by using CAMEL Model. This research is made to find and suggest the way to improve
the financial position of banking sectors. In terms of asset quality, the public sector Bank was at
top most position. In context of management quality, private sector banks positioned at first. In
terms of earnings quality, public sector banks obtained the top position. The private sector Bank
was ranked top in liquidity criteria. In the overall performance, public sector banks are ranked
first followed by private sector banks. Most of these banks, including private sector banks lay in
a similar rank region. However, these banks’ assets etc. vary a great deal and they cannot be
judged solely based on the absolute values of the CAMEL ratios. Looking at the trend, we can
say that private banks are growing at a faster pace than public sector banks.

Sharma made an attempt to study the performance of public sector banks and their private sector
counterparts based on camel framework. The study is based on the primary hypothesis that the
public sector banks are performing better than private sector banks in the country. Sixteen public
sector and same number of private sector banks are selected for a period of 6 years 2007-08 to
2012-13. From this study, it was found that private sector banks were better than public sector
banks in utilizing the available resources such as assets and employees, which can be inferred
from ratios such as Return on Assets, Business per employee, Profit per employee.

Kaur conducted a study with the objective to analyze the financial performance of the selected
public and private sector banks in India using CAMEL model and to investigate the factors that
predominantly affect the financial performance of the selected public and private sector banks
for the period 2009 to 2014. It has been found that in terms of capital adequacy, ICICI Bank has
highest ratio. In terms of asset quality, Lakshmi Vilas Bank has the highest net NPAs-to-total
advances ratio. In terms of earnings capacity, SBI, PNB and Bank of Baroda have the highest
return on assets ratio. In terms of liquidity, Bank of Baroda has the highest government
securities-to-total assets ratio.

Gowri and Ramya conducted a study with the main objective to analyze the performance of 10
public and private sector banks under the CAMEL model for the period of 2004-05 to 2012-13.
It was found that the Bank of Baroda secured the first place followed by Andhra bank and Axis
Bank. HDFC and ICICI bank were ranked 5th and 6th respectively. It is also observed that
Syndicate bank was at the bottom most position.

Jayanta made an attempt to highlight the comparative financial performance of 10 public sector
and 10 private sector banking companies in India by using CAMELS model for the period from
2001-02 to 2011-12. It was found that, on average Bank of Baroda occupies the top most
position followed by ICICI Bank and HDFC Bank. Also it is observed that Central Bank of
India was at the bottom most position, followed by Karnataka Bank and UCO Bank. As a whole,
selected public sector banks perform better than selected private sector banks in terms of both
financial performance and performance consistency.

Srinivasan made an attempt to rank the various commercial banks operating in India. The
sample of selected banks consists of 25 Public Sector, 18 Private Sector, and 8 Foreign banks.
For the purpose of ranking, CAMEL MODEL approach. The finding of the study shows that
public sector banks, viz. Andhra Bank, Bank of Baroda, Allahabad Bank, Punjab National Bank
IDBI Bank, State Bank of Bikaner and Jaipur and UCO Bank has been ranked at the top five
positions in their financial performance during the study period. The private sector banks,
namely, Tamilnad Merchantile Bank, Kotak Mahindra Bank, HDFC Bank, Axis Bank, Karur
Vysya Bank, ICICI Bank, Citi Union Bank and IndusInd Bank shared the top five positions. The
foreign banks such as Bank of Bahrain & Kuwait, HSBC Bank, The Royal Bank of Scotland,
Deutsche Bank, CTBS Bank, Citi Bank, DBS Bank and Royal Bank of Scotland secured the top
five positions during the study period.

Subha and Vishal Kumar made an effort to evaluate the financial performance of 7 new private
sector banks operating in India. This evaluation has been done by using CAMEL parameters.
From this research, it is found that Kotak Mahindra Bank got the first position and Development
Credit Bank took the last position.

Rashmi Soni conducted the study with an objective to find the probability of failure of some of
the existing banks based on the CAMELS Framework and studying how justified and apt it is to
issue new banking licenses in today’s scenario. The study involves identifying the banks that
have failed, performed poorly or have merged with big banks after obtaining the banking
licenses and calculating various ratios for each parameter of the CAMELS framework.

Mohammad Kamrul Ahsan conducted the study to analyze the financial performance of three
selected Islamic Banks in Bangladesh by using Camels frame work over a period of eight years
i.e., 2007-2014. From this study, it is found that all the selected Islamic Banks are in strong
position on their composite rating system. They are basically sound in every respect i.e., sound
in capital adequacy, asset quality, management quality, earning capacity and liquidity
conditions.

Krupa R. Trivedi made an attempt to evaluate the financial performance of the only scheduled
Urban Co-operative Bank in Surat City namely Surat People Co-operative Bank using a
CAMEL model for 10 years from 2002-03 to 2011-12. It is found out that overall state of capital
adequacy of Surat Peoples Co-operative Bank was satisfactory. As far as loan portfolio was
concerned, the overall state of assets quality was good. The management efficiency was also
satisfactory. Overall earning capacity of the bank was not bad but the overall state of liquidity
was not satisfactory.

Tariq Zafar, Adeel Maghani, Syed Imran Nawab Ali conducted a study to examine qualitative
and quantitative relevancy of various factors involved in evaluating financial performance of
Indian commercial banks and to judge and justify the adequacy of CAMELS and assign overall
ratings through CAMELS model for the period of 2005-06 to 2009-10. The study found that all
the banks have maintained the minimum CRAR requirement of RBI. ICICI has the most favored
Capital adequacy ratio, Canara Bank has the highest debt to equity ratio and Asset ratio, HDFC
Net NPA’s was the lowest and ICICI bank has the highest ratio, ICICI bank has the highest
Liquidity ratio.

Hari Krishna Karri, Kishore Meghani, Bharti Meghani Mishra analyzed the Financial Position
and Performance of the Bank of Baroda and Punjab National Bank in India based on their
financial characteristics and made an attempt to measure the relative performance of Indian
banks by using CAMELS model and the period of study is for 5 years from 2010 to 2014. It was
found that two banks have succeeded in maintaining CRAR at a higher level than the prescribed
level, the average figures of Bank of Baroda is the best for followed by Punjab National Bank.

Hossain Majumder and Mohammed Mizanur Rahman used Camels model to measure the
financial performance of the fifteen selected banks in Bangladesh and to identify whether any
significant difference exists in the performance of the selected banks for the period 2009- 2013.
It was found that under the capital adequacy ratio parameter IBBL bank is in the top position,
under the asset quality parameter AIBL bank held the top rank, under management efficiency
parameter, it is observed that top rank taken by EBL bank, in terms of earning quality parameter
the capability of EBL got the top rank, under the liquidity parameter DBBL stood on the top
position.

Mukesh conducted a study to compare and measure the risk of selected India Public Sector Bank
through CAMEL rating model for a period of ten years i.e., from 2004 to 2013. It is found that
Bank of Baroda is at the top of the list in terms of soundness being the best. Allahabad bank has
taken a backseat and display low economic soundness in comparison.

Prasad & Ravinder, et. al., evaluated the performance of banking sector using CAMEL model.
They have chosen all public sector banks and thirteen private sector banks for study. Their
results showed that on an average Karur Vysya bank was at the top most position followed by
Andhra bank. As per their study Central Bank of India, the largest public sector was at the
bottom most position.
Ruchi Gupta conducted the study with the main objective to assess the performance of public
sector banks on the basis of CAMEL model and gave rating to top five and bottom five banks.
They ranked 26 public sector banks on the basis of CAMEL model. They considered the
financial data for the period of 4 years i.e. from 2009-13.

Lakhtaria (2013) made an attempt to analyze the performance of three public sector banks
namely, Bank of Baroda (BOB), State Bank of India (SBI) and Punjab National Bank (PNB) for
the period of three years from 2010 to 2012. The CAMEL approach was used to rank the three
banks under study. The study came up with ranking the Bank of Baroda at first place followed
by Punjab National Bank and State Bank of India.

Biswas conducted a study on the evaluation of the performance of two public sector banks viz.,
Andhra Bank and Bank of Maharashtra with CAMEL model for a period of 2011-2013. The
study found that Andhra Bank dominated in Management Efficiency and Earning Quality.
Assets Quality & Liquidity Bank of Maharashtra dominated over Andhra Bank. Both the banks
were on par with respect to the Cash Adequacy Ratio.

Objective of the Study

The objective of the study is to evaluate the financial performance of select public sector banks
viz., Andhra Bank, Bank of Maharashtra, Bank of Baroda, Canara Bank, PNB and select private
sector banks viz., LVB, ICICI Bank, HDFC Bank, Kotak Mahindra Bank, IndusInd Bank
by using CAMELS approach.

Hypothesis of the Study

H0 - There is no significant difference between the performance of select public and private
sector banks during the study period.
H1 – There is a significant difference between the performance of select public and private
sector banks during the study period.

Methodology of the Study

The study is based on the secondary data extracted from the annual reports of select public
sector banks and private sector banks as well as from publicly available data sources. In total 10
banks were selected for the study, 5 from public sector and 5 from private sector. The study
covers a period of 5 financial years i.e. from 2011-12 to 2015-16.

Data Analysis

To examine the performance of select public and private sector banks, the study used CAMELS
Approach. In the first stage, all the ratios of the select banks are calculated viz., CAR, Asset
Quality Ratios and Management Soundness, Earnings and Profitability Ratios and Liquidity
Ratios. The next stage of the study deals with comparison of various ratios (both year wise and
bank wise) and then composite ranking is assigned to all the select banks. Across the select
banks a detailed ranking exercises is undertaken, to examine the financial performance of the
select banks.
 1. CAPITAL ADEQUACY

CAPITAL ADEQUACY RATIO

Table: 1 (a)
BANKS 2015-16 2014-15 2013-14 2012-13 2011-12 AVERAGE RANK
LVB 10.6695339 11.3416878 10.898741 12.3200058 13.0999982 11.6659933 9
ICICI 16.6352887 17.0204957 17.6996528 18.7435512 18.5187137 17.7235404 1
HDFC 15.5305602 16.7900025 16.0758567 16.8041541 16.5221447 16.3445436 3
KOTAK 16.9711857 17.5613071 18.8669865 17.0198775 17.9190997 17.6676913 2
INDUSIND 15.5000011 12.0900009 13.8345195 15.3599995 13.8499785 14.1268999 4
BOM 11.2094883 11.9353738 10.7892419 12.5900005 12.4300009 11.7908211 7
ANDHRA 11.6442395 10.6979801 10.7800006 11.76 13.1800014 11.6124443 10
CANARA 11.0836885 10.5587177 10.6320422 12.3954173 13.7560166 11.6851764 8
BOB 13.17 12.6000001 12.2847436 13.0300004 13.0300004 12.8229489 5
PNB 13.1499978 12.8583089 12.2800001 12.7200002 12.6300002 12.7276615 6

Table 1(a) presents the details of Capital Adequacy Ratios of select banks during the study
period 2011-12 to 2015-16. As per RBI guidelines the minimum Capital adequacy ratio which
should be maintained by every bank is 9 percent. From the above table it is clearly evident that
all the banks have CAR above the prescribed limit of RBI. ICICI bank has highest CAR of
17.72% followed by Kotak Mahindra bank with 17.66%. It Implies that these banks have greater
capacity to adapt to the loss if occurs. On the other hand, Andhra Bank has taken the last
position with 11.61%, which is the least. Based on the Ranking assigned to select banks in the
study it is observed that ICICI Bank occupied first rank followed by Kotak Bank and HDFC
Bank. It can be concluded that as per the Basel II Norms private banks are dominating in CAR
ratios.

DEBT EQUITY RATIO

Table: 1(b)
BANKS 2015-16 2014-15 2013-14 2012-13 2011-12 AVERAGE RANK
LVB 16.42982 15.174 19.47561 16.70799 16.71403 16.90029 3
ICICI 6.859711 6.639119 6.647325 6.565457 6.550174 6.652357 9
HDFC 8.247951 7.998933 9.355779 9.091851 9.041131 8.747129 8
KOTAK 6.661181 6.151687 5.858852 7.548158 6.908128 6.625601 10
INDUSIND 6.650581 9.240965 8.705407 8.57105 11.2869 8.890982 7
BOM 19.78518 19.91952 19.85374 20.3185 18.48212 19.67181 1
ANDHRA 16.73744 16.92348 17.74319 15.98295 15.25416 16.52824 4
CANARA 19.369 18.88272 18.57044 16.46517 16.61004 17.97947 2
BOB 15.11247 16.38805 16.8319 15.65441 14.86503 13.05013 5
PNB 17.27901 14.51368 14.48166 13.79865 15.80931 15.17646 6
Table 1(b) presents the details of Debt Equity Ratios of select banks during the study period
2011-12 to 2015-16. Bank of Maharashtra has the highest Debt Equity ratio with 19.67%
followed by Canara bank with 17.97%. Kotak Mahindra Bank fall in the last position with
6.62%. Based on the Ranking assigned to select banks in the study it is observed that Bank of
Maharashtra occupied first rank followed by Canara Bank and Lakshmi Vilas Bank. High debt
equity ratio indicates that bank was suffering with heavy debt and recoveries are slow.

TOTAL ADVANCE TO TOTAL ASSET RATIO

Table: 1(c)
BANKS 2015-16 2014-15 2013-14 2012-13 2011-12 AVERAGE RANK
LVB 68.77957 66.39883 62.63998 66.53514 63.03176 65.47705 3
ICICI 60.63205 59.97593 56.95912 54.07085 53.56893 57.04138 10
HDFC 65.54234 61.89553 61.63559 59.88047 57.83206 61.3572 6
KOTAK 60.12901 59.6606 58.6506 57.42327 57.54626 58.68195 9
INDUSIND 63.30307 63.26811 63.60693 60.63523 61.11179 62.38503 5
BOM 67.36918 68.16832 65.74304 65.15508 63.96424 66.07997 2
ANDHRA 65.40645 68.021 64.32629 67.24129 66.82141 66.36329 1
CANARA 59.3069 60.82542 61.89409 59.02293 59.02293 60.01446 8
BOB 57.1617 59.87021 60.19759 59.98254 64.24402 60.29121 7
PNB 62.04627 63.21736 63.61779 64.66151 64.31928 63.57244 4

Table 1(c) presents the details of Total Advance to Total Assets Ratios of select banks during
the study period 2011-12 to 2015-16. This ratio indicates banks aggressiveness in lending.
Higher ratio of advances of bank deposits (assets) is preferred. Andhra bank has occupied first
position in Total Advance to Total Assets ratio with 66.36% followed by Bank of Maharashtra
with 66.07%. ICICI Bank falls in the last position with 57.07%. Based on the Ranking assigned
to select banks in the study it is observed that Andhra Bank occupied first rank followed by
Bank of Maharashtra and Lakshmi Vilas Bank.

GOVT. SECURITIES TO TOTAL INVESTMENTS RATIO

Table: 1(d)
BANKS 2015-16 2014-15 2013-14 2012-13 2011-12 AVERAGE RANK
LVB 89.36688 84.47863 83.91998 87.20399 77.21086 84.43607 5
ICICI 68.97825 56.60352 53.76854 53.89716 54.49235 57.54797 10
HDFC 76.7062 72.32388 78.24653 76.06808 78.18586 76.30611 8
KOTAK 93.18339 91.61072 82.81575 81.9488 83.88209 86.68815 2
INDUSIND 80.95018 72.0297 71.32608 71.78253 81.63454 75.5446 9
BOM 89.21941 79.97889 81.64881 80.6584 79.2491 82.15092 6
ANDHRA 92.21689 91.40923 88.04086 87.62029 90.20893 89.89924 1
CANARA 89.15956 86.36572 84.83347 84.19829 86.97446 86.3063 3
BOB 86.05342 84.63669 83.34986 84.97909 84.42295 84.6884 4
PNB 80.13894 82.7037 78.09578 82.83428 81.35031 81.0246 7
 Table 1(d) presents the details of Government Securities to Total Investments Ratios of select
banks during the study period 2011-12 to 2015-16. Andhra bank has been ranked first in
Government Securities to Total ratio with 89.89% followed by Kotak Mahindra bank with
86.68%. ICICI bank has occupied last position with 57.54%. Hence it can be concluded that
Andhra Bank has followed higher SLR norms.

COMPOSITE AVERAGE AND RANKING OF CAPITAL ADEQUACY

Table: 1(e)
BANKS 2015-16 2014-15 2013-14 2012-13 2011-12
AVERA RA AVERA RA AVERA RA AVERA RA AVERA RA
GE NK GE NK GE NK GE NK GE NK
LVB 46.3114 3 44.3482 3 44.2335 3 45.6917 1 42.5141 6
5 9 8 8 6
ICICI 38.2763 10 35.0597 10 33.7686 10 33.3192 10 33.2825 10
3 7 6 6 4
HDFC 41.5067 9 39.7520 8 41.3284 8 40.4611 8 40.3953 9
6 9 4 4
KOTAK 44.2361 5 43.7460 5 41.5480 7 40.9850 7 41.5638 8
9 8 5 3 9
INDUSI 41.6009 8 39.1571 9 39.3682 9 39.0872 9 41.9708 7
ND 6 9 3
BOM 46.8958 1 45.0005 2 44.5087 2 44.6805 3 43.5313 4
2 2 1 6
ANDHR 46.5012 2 46.7629 1 45.2225 1 45.6511 2 46.3661 1
A 6 2 8 3 2
CANAR 44.7297 4 44.1581 4 43.9825 4 43.0204 6 44.0908 3
A 9 4 1 5 6
BOB 42.8744 7 43.3737 6 43.1660 5 43.4115 5 44.1405 2
2 4 2 1
PNB 43.1535 6 43.3232 7 42.1188 6 43.5036 4 43.5272 5
6 6 1 1 2

Table 1(e) presents the composite averages and ranking of Capital Adequacy Ratio. In 2015-16,
Bank of Maharashtra has got first rank followed by Andhra bank. In 2014-15, Andhra Bank has
got first rank followed by Bank of Maharashtra. In 2013-14, Andhra Bank has got first rank
followed by Bank of Maharashtra. In 2012-13, Lakshmi Vilas Bank has been ranked first
followed by Andhra Bank. In 2011-12, Andhra bank got first rank followed by Bank of Baroda.
This shows that neither the public-sector banks nor private sector banks could maintain
steadiness in CAR for any two consecutive years during the study period.

COMPOSITE AVERAGE OF CAPITAL

ADEQUACY
Table: 1(f)
BANKS CAR DER TATA GSTI AVERAGE RANKING
LVB 11.66599 16.90029 65.47705 84.43607 44.61985 3
ICICI 17.72354 6.652357 57.04138 57.54797 34.74131 10
 HDFC 16.34454 8.747129 61.3572 76.30611 40.68875 8
KOTAK 17.66769 6.625601 58.68195 86.68815 42.41585 7
INDUSIND 14.1269 8.890982 62.38503 75.5446 40.23688 9
BOM 11.79082 19.67181 66.07997 82.15092 44.92338 2
ANDHRA 11.61244 16.52824 66.36329 89.89924 46.1008 1
CANARA 11.68518 17.97947 60.01446 86.3063 43.99635 4
BOB 12.82295 15.77039 60.29121 84.6884 43.39324 5
PNB 12.72766 15.17646 63.57244 81.0246 43.12529 6

Table 1(f) presents ratio wise averages and ranks of Capital Adequacy Ratio. Andhra Bank has
been ranked first followed by Bank of Maharashtra, Lakshmi Vilas Bank.

2. ASSET QUALITY

GROSS NPA RATIO

Table: 2(a)
BANKS 2015-16 2014-15 2013-14 2012-13 2011-12 AVERAGE RANK
LVB 1.99172866 2.78020697 4.23967681 3.92982876 3.02031274 3.19235079 7
ICICI 6.13903371 3.93319534 3.11600751 3.32369289 3.76900177 4.05618624 6
HDFC 0.94552026 0.94074603 0.98656018 0.97390029 1.0231244 0.97397023 9
KOTAK 1.96011791 1.39591465 1.47775528 1.14418486 1.1557175 1.42673804 8
INDUSIND 0.87856345 0.81833803 1.12662299 1.0328829 0.98984855 0.96925118 10
BOM 9.65562681 6.49302073 3.21619111 1.50727209 2.313656 4.63715335 3
ANDHRA 8.74976269 5.45953296 5.44163085 3.77591277 2.16047298 5.11746245 2
CANARA 9.74326641 3.95107799 2.51445623 2.58495638 1.73416195 4.10558379 5
BOB 10.5586734 3.09799812 2.9913668 2.43233588 1.55361963 4.12679877 4
PNB 13.5374333 6.75230938 5.40559081 4.36173968 2.96813109 6.60504085 1

Table 2(a) presents the details of Gross NPA Ratios of select banks during the study period
2011-12 to 2015-16. Punjab National bank is in the top position in Gross NPA with
6.605%followed by Andhra bank with 5.11%. IndusInd bank occupied last position with
0.969%. There was constant increase in Gross NPAs of PNB on year on year basis. It could not
recover at any point, hence the average of Gross NPA was more as compared to other sample
banks.

NET NPA RATIO

Table: 2(b)
BANKS 2015-16 2014-15 2013-14 2012-13 2011-12 AVERAGE RANK
LVB 1.179205 1.849863 3.440014 2.425146 1.738105 2.126467 5
ICICI 3.054928 1.632165 0.974601 0.769683 0.74647 1.435569 7
HDFC 0.284199 0.245224 0.270637 0.195624 0.180294 0.235195 9
KOTAK 0.087156 0.06872 0.080003 0.047 0.044668 0.065509 10
INDUSIND 0.363891 0.305983 0.334018 0.30857 0.269992 0.316491 8
 BOM 6.351674 4.1852 1.327853 0.520639 0.837624 2.644598 4
ANDHRA 4.614839 2.928536 3.105109 2.449018 0.908223 2.801145 3
CANARA 6.415756 2.648227 1.981436 2.17943 1.456541 2.936278 2
BOB 5.056792 1.885108 1.520068 1.277331 0.537148 2.055289 6
PNB 8.590918 4.046021 2.839355 2.343994 1.516206 3.867299 1

Table 2(b) presents the details of Net NPA Ratios of select banks during the study period 2011-
12 to 2015-16. Punjab national bank has occupied first place with 3.867% followed by Canara
bank with 2.93%. Kotak Mahindra bank took the last place with 0.065%. Based on the Ranking
assigned to select banks in the study it is observed that Punjab National Bank occupied first rank
followed by Canara Bank and Andhra Bank.

COMPOSITE AVERAGE AND RANIKING OF ASSET QUALITY

Table: 2(c)
2015-16 2014-15 2013-14 2012-13 2011-12
BANK
S AVER RA AVER RA AVER RA AVER RA AVER RA
AGE NK AGE NK AGE NK AGE NK AGE NK
1.58546 2.31503 3.83984 3.17748 2.37920
LVB 7 7 5 7 6 3 7 2 9 1
4.59698 2.04530 2.04668 2.25773
ICICI 1 6 2.78268 5 4 7 8 5 6 2
0.61485 0.59298 0.62859 0.58476 0.60170
HDFC 9 10 5 9 8 10 2 10 9 9
KOTA 1.02363 0.73231 0.77887 0.59559 0.60019
K 7 8 7 8 9 8 2 9 3 10
INDUS 0.62122 0.67072
IND 7 9 0.56216 10 0.73032 9 6 8 0.62992 8
5.33911 2.27202 1.01395
BOM 8.00365 3 1 2 2 4 5 7 1.57564 5
ANDH 6.68230 4.19403 3.11246 1.53434
RA 1 5 5 3 4.27337 1 5 3 8 6
CANA 8.07951 3.29965 2.24794 2.38219 1.59535
RA 1 2 3 4 6 6 3 4 2 4
7.80773 2.49155 2.25571 1.85483 1.04538
BOB 3 4 3 6 8 5 4 6 4 7
11.0641 5.39916 4.12247 3.35286 2.24216
PNB 8 1 5 1 3 2 7 1 8 3

Table 2(c) presents the composite average and ranking of Asset Quality Ratio. In 2015-16,
Punjab National Bank has got first rank followed by Canara bank. In 2014-15, Punjab National
Bank has got first rank followed by Bank of Maharashtra. In 2013-14, Andhra Bank has got first
rank followed by Punjab National Bank. In 2012-13, Punjab National Bank has got first rank
followed by Lakshmi Vilas Bank. In 2011-12, Lakshmi Vilas Bank has got first rank followed
by ICICI Bank. This shows that LVB was able to recover from NPAs, but PNB could not
overcome the piling up of NPAs.
 COMPOSITE AVERAGE OF ASSET QUALITY
Table: 2(d)
BANKS GNPA NNPA AVERAGE RANKING
LVB 3.192351 2.126467 2.659409 7
ICICI 4.056186 1.435569 2.745878 6
HDFC 0.97397 0.235195 0.604583 10
KOTAK 1.426738 0.065509 0.746124 8
INDUSIND 0.969251 0.316491 0.642871 9
BOM 4.637153 2.644598 3.640876 3
ANDHRA 5.117462 2.801145 3.959304 2
CANARA 4.105584 2.936278 3.520931 4
BOB 4.126799 2.055289 3.091044 5
PNB 6.605041 3.867299 5.23617 1

Table 2(d) presents ratio wise averages and ranks of Asset Quality Ratio. Punjab National Bank
has got first position followed by Andhra Bank.

3. MANAGEMENT SOUNDNESS

TOTAL ADVANCE TO TOTAL DEPOSIT RATIO

Table: 3(a)
AVERAG RAN
BANKS 2015-16 2014-15 2013-14 2012-13 2011-12 E K
77.243407 74.448477 69.397907 74.926787 72.187749 73.640865
LVB 2 8 1 8 3 8 8
107.17976 102.04540 99.192043 99.306340 102.20144
ICICI 103.28367 1 8 8 4 5 2
81.077765 82.485530 80.919184 79.211560 81.743690
HDFC 85.024413 1 7 4 9 8 4
106.50543 121.67490 125.93155 145.75574 126.80438
KOTAK 6 4 6 134.15429 9 7 1
INDUSIN 95.074201 92.788553 91.073974 81.898182 82.773057 88.721593
D 3 1 2 3 2 6 3
77.388883 80.740219 76.128465 80.001310 73.253297 77.502435
BOM 6 3 4 2 9 3 6
75.035048 81.254699 75.888546 79.464307 78.622598 78.053040
ANDHRA 3 6 6 2 8 1 5
67.678310 69.651238 71.559579 68.054670 69.605984
CANARA 1 9 3 1 71.086124 5 10
66.854505 69.315608 69.785502 69.254546 74.668451
BOB 6 6 7 9 3 69.975723 9
77.375198 78.844918 77.392959 76.810388
PNB 74.541256 75.897609 2 5 9 3 7
Table 3(a) presents the details of Total Advance to Total Deposits Ratios of select banks during
the study period 2011-12 to 2015-16. Kotak Mahindra Bank has got first position with 126.8%
followed by ICICI Bank with 102.2% and Canara Bank has occupied last position with 69.6%.
Based on the Ranking assigned to select banks in the study it is observed that Kotak Mahindra
Bank occupied first rank followed by ICICI Bank and IndusInd Bank. This ratio indicates that
none of the public-sector banks in the study could occupy the top position. It reflects the
aggressive strategy of leading private banks in terms of quick loan recoveries and timely closing
of doubtful of loan accounts (without converting into NPA).

BUSINESS PER EMPLOYEE RATIO

Table: 3(b)
BANKS 2015-16 2014-15 2013-14 2012-13 2011-12 AVERAGE RANK
LVB 0.805843 0.722336 0.668876 0.621664 0.549898 0.673723 8
ICICI 0.918572 0.902888 0.756044 0.780171 0.704328 0.8124 4
HDFC 0.813325 0.756364 0.694311 0.623197 0.492312 0.675902 7
KOTAK 0.58374 0.53478 0.51897 0.58613 0.57149 0.559022 10
INDUSIND 0.64517 0.632594 0.650677 0.725629 0.679933 0.666801 9
BOM 1.022323 0.963522 1.342546 1.244288 1.033504 1.121237 1
ANDHRA 0.689238 0.794812 0.612412 0.612434 0.712423 0.684264 6
CANARA 0.905373 0.894715 0.891101 0.872062 0.843759 0.881402 3
BOB 0.957514 0.959244 0.943511 0.900698 0.798515 0.911896 2
PNB 0.766958 0.764476 0.729314 0.728516 0.653993 0.728651 5

Table 3(b) presents the details of Business Per Employee Ratios of select banks during the study
period 2011-12 to 2015-16. Bank of Maharashtra has got first position with 1.121% followed by
Bank of Baroda with 0.91% and Kotak Mahindra bank has occupied last position with 0.55%.
Based on the Ranking assigned to select banks in the study it is observed that Bank of
Maharashtra occupied first rank followed by Bank of Baroda and Canara Bank. When compared
with table 3 (a) business per employee ratio shows that the top three positions grabbed by public
sector banks, it may be due to more number of employees in private sector banks supported with
innovative recruitment strategies.

PROFIT PER EMPLOYEE RATIO

Table: 3(c)
BANKS 2015-16 2014-15 2013-14 2012-13 2011-12 AVERAGE RANK
LVB 0.050558 0.038245 0.018123 0.029108 0.035203 0.034247 10
ICICI 0.131266 0.16469 0.13583 0.134141 0.110942 0.135374 1
HDFC 0.14091 0.134461 0.12 0.100001 0.078199 0.114714 2
KOTAK 0.06653 0.10366 0.0939 0.1007 0.0904 0.091038 4
INDUSIND 0.099152 0.093809 0.090316 0.09226 0.085657 0.092239 3
 BOM 0.007315 0.031763 0.040323 0.089788 0.056688 0.045176 6
ANDHRA 0.0289 0.0344 0.02326 0.07802 0.0543 0.043776 7
CANARA -0.05208 0.050063 0.049969 0.067273 0.082 0.039445 8
BOB -0.10531 0.068825 0.098717 0.103942 0.120804 0.057396 5
PNB -0.05613 0.044832 0.051 0.075012 0.078616 0.038665 9

Table 3(c) presents the details of Profit Per Employee Ratios of select banks during the study
period 2011-12 to 2015-16. ICICI Bank has got first position with 0.135% followed by HDFC
Bank with 0.114% and Lakshmi Vilas Bank has occupied last position with 0.034%. Based on
the Ranking assigned to select banks in the study it is observed that ICICI Bank occupied first
rank followed by HDFC Bank and IndusInd Bank. As per table 3 (a) ICICI Bank was ranked at
2nd position in terms of total deposits to advances, which helped ICICI Bank to hold first rank in
terms of Profit Per Employee ratio (PPE), even though it could not grab first three positions in
terms of Business Per Employee (BPE). This shows that even though number of employees are
more in ICICI Bank, Profit Per Employee (PPE) was more due to increased profits.

COMPOSITE AVERAGE AND RANKING OF MANAGEMENT SOUNDNESS

Table: 3(d)

BANK 2015-16 2014-15 2013-14 2012-13 2011-12

S AVER RA AVER RA AVER RA AVER RA AVER RA
AGE NK AGE NK AGE NK AGE NK AGE NK
26.0332 25.0696 23.3616 25.1925 24.2576
LVB 7 6 9 8 4 10 2 8 2 9
34.7778 36.0824 34.3124 33.3687 33.3738
ICICI 4 2 5 2 3 2 9 2 7 2
28.6595 27.3228 27.7666 27.2141 26.5940
HDFC 5 4 6 5 1 4 3 4 2 4
KOTA 35.7185 40.7711 42.1814 44.9470 48.8058
K 7 1 1 1 8 1 4 1 8 1
INDUS 31.9395 31.1716 30.6049 27.5720 27.8462
IND 1 3 5 3 9 3 2 3 2 3
26.1395 27.2451 25.8371 24.7811
BOM 1 5 7 6 1 6 27.1118 5 6 8
ANDH 25.2510 25.5080 26.7182 26.4631
RA 6 7 27.3613 4 7 7 5 6 1 5
CANA 22.8438 23.5320 24.1668 24.0039
RA 7 9 1 9 8 8 22.998 10 6 10
23.4478 23.6092 23.4197 25.1959
BOB 22.5689 10 9 10 4 9 3 9 2 7
25.0840 25.5689 26.0518 26.5494 26.0418
PNB 3 8 7 7 4 5 8 7 6 6
 Table 3(d) presents the composite average and ranking of Management Soundness Ratio. During
the entire study period Kotak Mahindra Bank was ranked first, followed by ICICI Bank. This
shows that both the banks-maintained consistency in its business.

COMPOSITE AVERAGE OF MANAGEMENT

SOUNDNESS
Table: 3(e)
BANKS TATD BPE PPE AVERAGE RANKING
LVB 73.64087 0.673723 0.034247 24.78295 8
ICICI 102.2014 0.8124 0.135374 34.38307 2
HDFC 81.74369 0.675902 0.114714 27.51144 4
KOTAK 126.8044 0.559022 0.091038 42.48482 1
INDUSIND 88.72159 0.666801 0.092239 29.82688 3
BOM 77.50244 1.121237 0.045176 26.22295 6
ANDHRA 78.05304 0.684264 0.043776 26.26036 5
CANARA 69.60598 0.881402 0.039445 23.50894 10
BOB 69.97572 0.911896 0.057396 23.64834 9
PNB 76.81039 0.728651 0.038665 25.85923 7

Table 3(e) presents ratio wise averages and ranks of Management Soundness Ratios. Kotak
Mahindra Bank has got first rank followed by ICICI Bank.

4. EARNINGS AND PROFITABILITY

DIVIDEND PAY OUT RATIO

Table: 4(a)
BANKS 2015-16 2014-15 2013-14 2012-13 2011-12 AVERAGE RANK
LVB 29.8712827 27.0919949 16.3593698 31.9223216 31.7965912 27.408312 2
ICICI 29.8934126 25.9393218 27.0759433 27.7129099 29.4193892 28.0081954 1
HDFC 19.5326853 19.6281882 19.3828302 19.4621693 19.5289805 19.5069707 3
KOTAK 2.676677 2.67758101 2.51160642 2.3763616 2.4041761 2.52928043 10
INDUSIND 12.7980056 11.8195705 13.0736779 14.8033321 12.8194266 13.0628026 7
BOM 0 0 6.96755846 11.6008634 0 3.71368438 9
ANDHRA 0.5643137 3.25866243 1.94048114 11.613495 40.7183965 11.6190698 8
CANARA 0 20.0165025 20.809699 20.055012 14.8444425 15.1451312 5
BOB 0 21.4207107 20.3308464 20.214162 13.867097 15.1665632 4
PNB 0 20.5116312 10.8320519 20.1020711 15.2776299 13.3446768 6

Table 4(a) presents the details of Dividend Payout Ratios of select banks during the study period
2011-12 to 2015-16. ICICI Bank has taken first position with 28% followed by Lakshmi Vilas
bank with 27.4% and Kotak Mahindra Bank has taken last position with 2.5%. Kotak Mahindra
Bank (KMB) had overall soundness in management but could not compete with other banks to
generate profits and ultimately satisfy its shareholders. Hence the dividend pay out ratio of KMB
has been ranked at 10th position.

RETURN ON ASSETS RATIO

Table: 4(b)
BANKS 2015-16 2014-15 2013-14 2012-13 2011-12 AVERAGE RANK
LVB 0.631083 0.537175 0.289941 0.521124 0.664239 0.528712 6
ICICI 1.354867 1.729584 1.649814 1.55096 1.364995 1.530044 5
HDFC 1.734681 1.730037 1.724652 1.680176 1.529134 1.679736 3
KOTAK 1.424862 2.063183 2.054654 1.910314 2.003836 1.89137 1
INDUSIND 1.636964 1.649778 1.625351 1.451805 1.398842 1.552548 4
BOM 0.063065 0.311593 0.285366 0.655705 0.491577 0.361461 10
ANDHRA 3.018402 1.99202 1.997401 1.646752 0.606887 1.852292 2
CANARA -0.51374 0.498092 0.501248 0.699984 0.882223 0.413561 9
BOB -0.80365 0.475314 0.688559 0.818942 1.11932 0.459696 8
PNB -0.59806 0.508614 0.608836 0.994384 1.069351 0.516624 7

Table 4(b) presents the details of Return on Assets Ratios of select banks during the study period
2011-12 to 2015-16. Kotak Mahindra bank has got first position with 1.89% followed by
Andhra bank with 1.85% and Bank of Maharashtra has got last position with 0.36%. Even
though the Dividend Payout Ratio (table 4 (a)) was less for KMB, it had good ROI, Where as
ICICI Bank ROI was not that favorable, still it could maintain satisfactory Dividend Pay out
Ratio.

INTEREST INCOME TO TOTAL INCOME RATIO

Table: 4(c)
BANKS 2015-16 2014-15 2013-14 2012-13 2011-12 AVERAGE RANK
LVB 89.39965 88.63225 90.10009 89.93318 90.58365 89.72977 5
ICICI 77.48679 80.12458 80.90344 82.76647 81.72083 80.60042 9
HDFC 84.85101 84.34499 83.85565 83.65212 83.88047 84.11685 7
KOTAK 72.77886 62.03174 69.40988 67.94784 65.08788 67.45124 10
INDUSIND 77.83952 80.12654 81.36318 83.66967 84.1189 81.42356 8
BOM 92.75675 92.64173 93.04178 91.33527 91.84341 92.32379 1
ANDHRA 91.85136 91.60621 91.47264 92.49544 92.94523 92.07418 2
CANARA 90.02967 90.57925 90.95509 91.53121 91.33288 90.88562 3
BOB 89.81075 90.70633 89.71777 90.6493 89.6594 90.10871 4
PNB 87.33546 88.71639 90.42528 90.85667 89.65657 89.39808 6

Table 4(c) presents the details of Interest Income to Total Income Ratios of select banks during
the study period 2011-12 to 2015-16. Bank of Maharashtra has got first position with 92.32%
followed by Andhra Bank with 92.07% and Kotak Mahindra Bank has got last position with
67.45%. As per table 3 (A) Total advances to deposit ratio, Bank of Maharashtra stood at 6th
position, but it was able to generate interest income out of its advances. This may due to reduced
Net NPAs (refer table 2 (b)).

COMPOSITE AVERAGE AND RANKING OF EARNINGS AND PROFITABILITY

Table: 4(d)

BANK 2015-16 2014-15 2013-14 2012-13 2011-12

S AVER RA AVER RA AVER RA AVER RA AVER RA
AGE NK AGE NK AGE NK AGE NK AGE NK
39.9673 38.7538 35.5831 40.7922 41.0148
LVB 4 1 1 1 3 4 1 1 3 2
36.2450 35.9311 36.5430 37.3434 37.5017
ICICI 2 2 6 5 7 3 5 3 4 3
35.3727 34.9877 34.9314 34.9795
HDFC 9 3 35.2344 6 1 5 9 7 3 6
KOTA 24.6587 24.0781
K 25.6268 10 22.2575 10 1 10 7 10 23.1653 10
INDUS 30.7581 31.1986 32.0207 33.3082 32.7790
IND 6 6 3 8 4 8 7 9 6 8
30.9399 30.9844 33.4315 34.5306 30.7783
BOM 4 5 4 9 7 7 1 8 3 9
ANDH 31.8113 32.2856 31.8035 35.2518 44.7568
RA 6 4 3 7 1 9 9 6 4 1
CANA 29.8386 37.0312 37.4220 37.4287 35.6865
RA 4 7 8 3 1 1 4 2 1 4
29.6690 37.5341 36.9123 37.2274 34.8819
BOB 3 8 2 2 9 2 7 5 4 7
28.9124 36.5788 33.9553 37.3177 35.3345
PNB 6 9 8 4 9 6 1 4 2 5

Table 4(d) presents the composite average and ranking of Earnings and Profitability Ratio. In
2015-16, Lakshmi Vilas Bank has got first rank followed by ICICI Bank. In 2014-15, Lakshmi
Vilas Bank has got first rank followed by Bank of Baroda. In 2013-14, Canara Bank has got first
rank followed by Bank of Baroda. In 2012-13, Lakshmi Vilas Bank has got first rank followed
by Canara Bank. In 2011-12, Andhra Bank has got first rank followed by Lakshmi Vilas Bank.
Hence it can be inferred that LVB was able to maintain its earnings and profitability
consistently, except for one year (i.e.2013-14).

COMPOSITE AVERAGE OF EARNINGS AND PROFITABILITY

Table: 4(e)
BANKS DPR ROA IITI AVERAGE RANKING
LVB 27.40831 0.528712 89.72977 39.22226 1
ICICI 28.0082 1.530044 80.60042 36.71289 2
HDFC 19.50697 1.679736 84.11685 35.10118 6
KOTAK 2.52928 1.89137 67.45124 23.9573 10
 INDUSIND 13.0628 1.552548 81.42356 32.01297 9
BOM 3.713684 0.361461 92.32379 32.13298 8
ANDHRA 11.61907 1.852292 92.07418 35.18185 5
CANARA 15.14513 0.413561 90.88562 35.48144 3
BOB 15.16656 0.459696 90.10871 35.24499 4
PNB 13.34468 0.516624 89.39808 34.41979 7

Table 4(e) presents ratio wise averages and ranks of Earnings and Profitability Ratio. Lakshmi
Vilas Bank has got first rank followed by ICICI Bank.

5. LIQUIDITY

LIQUID ASSETS TO TOTAL ASSETS

Table: 5(a)
AVERAG RAN
BANKS 2015-16 2014-15 2013-14 2012-13 2011-12 E K
4.7919796 5.3547797 6.3746135 5.2383762 5.3434274
LVB 7 4 2 4.9573879 8 2 8
8.3396859 6.9839715 7.7157097 7.6490093 7.4471537
ICICI 7 6.5473924 2 1 1 8 5
5.4904540 6.1526267 8.0520098 6.8143882 6.1962509 6.5411459
HDFC 1 8 2 6 5 6 6
4.5180846 4.2153538 4.8920601 3.1972704 2.8522768
KOTAK 3 3 9 9 6 3.9350092 10
INDUSIN 9.9141401 7.8143298 9.3697785 9.6548357
D 7.2395072 9 3 4 4 8.7985183 3
5.8374398 4.6688880 4.5117155 5.3291074 6.5541829 5.3802667
BOM 8 3 8 6 9 9 7
4.4870329 4.1387619 5.6415370 4.6409085 5.1699917
ANDHRA 2 6 5 4 6.9417182 3 9
10.362007 9.2159815 8.4606161 7.5731749 8.9152628
CANARA 2 8.9645345 2 6 8 8 2
19.944151 20.749024 19.844884 15.590088 14.345061 18.094642
BOB 2 6 5 6 6 1 1
11.078710 9.2922231 8.2363193 5.6834188 6.3116324
PNB 2 2 2 8 9 8.1204608 4

Table 5(a) presents the details of Liquid Assets to Total Assets Ratios of select banks during the
study period 2011-12 to 2015-16. Bank of Baroda has got first position with 18.09% followed
by Canara Bank with 8.91% and Kotak Mahindra Bank took last position with 3.93%.
 LIQUID ASSETS TO TOTAL DEPOSITS
Table: 5(b)
BANKS 2015-16 2014-15 2013-14 2012-13 2011-12 AVERAGE RANK
LVB 5.381669 6.003949 7.06234 5.582631 5.999303 6.005978 10
ICICI 14.20624 11.70049 12.51217 14.15434 14.17977 13.3506 3
HDFC 7.122459 8.059406 10.77582 9.20859 8.486896 8.730635 6
KOTAK 8.002802 8.597011 10.50398 7.469577 7.224375 8.359549 7
INDUSIND 10.87294 14.54001 11.18875 12.65548 13.07702 12.46684 4
BOM 6.705633 5.529945 5.224431 6.543397 7.505999 6.301881 8
ANDHRA 5.147577 4.943971 6.655569 5.484525 8.167681 6.079865 9
CANARA 11.82465 10.2653 10.65516 9.755266 8.616141 10.2233 5
BOB 23.32605 24.02249 23.00566 17.99998 16.67274 21.00538 1
PNB 19.03496 20.59218 20.45319 22.53618 21.84141 20.89158 2

Table 5(b) presents the details of Liquid Assets to Total Deposits Ratios of select banks during
the study period 2011-12 to 2015-16. Bank of Baroda has got first position with 21% followed
by Punjab National Bank with 20.89% and Lakshmi Vilas Bank occupied last position with 6%.
Based on the Ranking assigned to select banks in the study it is observed that Bank of Baroda
occupied first rank followed by Punjab National Bank and ICICI Bank.

GOVT. SECURITIES TO TOTAL ASSETS

Table: 5(c)
BANKS 2015-16 2014-15 2013-14 2012-13 2011-12 AVERAGE RANK
LVB 20.48085 20.93798 23.20153 21.44068 20.99378 21.41096 4
ICICI 15.41339 16.34516 16.00662 17.20887 18.35713 16.66623 9
HDFC 17.73455 20.38775 19.25145 21.20798 22.5557 20.22749 6
KOTAK 19.83609 18.75932 17.26587 20.50656 19.5894 19.19145 7
INDUSIND 18.09044 16.46921 17.75395 19.30157 20.74344 18.47172 8
BOM 20.24593 20.3014 22.48638 21.90536 23.55491 21.6988 3
ANDHRA 24.84069 22.95441 23.86288 22.53852 21.46038 23.13138 2
CANARA 23.17418 23.135 22.11916 24.85729 23.85517 23.42816 1
BOB 15.4387 13.82763 14.67461 18.85443 15.7041 15.6999 10
PNB 19.03496 20.59218 20.45319 22.53618 21.84141 20.89158 5

Table 5(c) presents the details of Government Securities to Total Assets Ratios of select banks
during the study period 2011-12 to 2015-16. Canara Bank has got first position with 23.42%
followed by Andhra Bank with 23.13% and Bank of Baroda has occupied last position with
15.69%. Based on the Ranking assigned to select banks in the study it is observed that Canara
Bank occupied first rank followed by Andhra Bank and Bank of Maharashtra.
COMPOSITE AVERAGE AND RANKING OF LIQUIDITY
Table: 5(d)

BANK 2015-16 2014-15 2013-14 2012-13 2011-12

S AVER RA AVER RA AVER RA AVER RA AVER RA
AGE NK AGE NK AGE NK AGE NK AGE NK
10.2181 10.7655 12.2128 10.6602 10.7438
LVB 7 9 7 7 3 6 3 9 2 9
11.5310 11.8342 13.0263
ICICI 12.6531 4 2 6 6 8 1 5 13.3953 4
10.1158 11.5332 12.6930 12.4103 12.4129
HDFC 2 10 6 5 9 4 2 6 5 7
KOTA 10.7856 10.5238 10.3911 9.88868
K 6 8 9 9 10.8873 9 4 10 4 10
INDUS 12.0676 13.6411 12.2523 13.7756 14.4917
IND 3 5 2 4 4 5 1 4 7 3
10.9296 10.1667 10.7408 11.2592 12.5383
BOM 7 7 4 10 4 10 9 7 7 6
ANDH 11.4917 10.6790 12.0533 10.8879 12.1899
RA 7 6 5 8 3 7 8 8 3 8
CANA 15.1202 14.1216 13.9967 14.3577 13.3481
RA 8 3 1 3 7 3 2 3 6 5
19.5696 19.5330 19.1750 15.5739
BOB 3 1 5 1 5 1 17.4815 1 7 2
16.3828 16.8255 16.9185 16.6648
PNB 8 2 3 2 16.3809 2 9 2 2 1

Table 5(d) presents the composite average and ranking of Liquidity Ratio. In 2015-16, 2014-15
and 2012-13, Bank of Baroda was ranked first followed by Punjab National Bank. In 2011-12,
Punjab National Bank has got first rank followed by Bank of Baroda. This shows the
consistency with BOB has maintained liquidity during the study period, except for the first year.

COMPOSITE AVERAGE OF LIQUIDITY

Table: 5(e)
BANKS LATA LATD GSTA AVERAGE RANKING
LVB 5.343427 6.005978 21.41096 10.92012 9
ICICI 7.447154 13.3506 16.66623 12.488 5
HDFC 6.541146 8.730635 20.22749 11.83309 6
KOTAK 3.935009 8.359549 19.19145 10.49534 10
INDUSIND 8.798518 12.46684 18.47172 13.24569 4
BOM 5.380267 6.301881 21.6988 11.12698 8
ANDHRA 5.169992 6.079865 23.13138 11.46041 7
CANARA 8.915263 10.2233 23.42816 14.18891 3
BOB 18.09464 21.00538 15.6999 18.26664 1
 PNB 8.120461 20.89158 20.89158 16.63454 2

Table 5(e) presents ratio wise averages and ranks of Liquidity Ratios. Bank of Baroda has got
first rank followed by Punjab National Bank, Canara Bank. This reflects the trend of
maintaining liquidity by public sector banks, where in first three ranks were grabbed by BOB,
PNB and Canara Bank respectively.
COMPOSITE RANKING OF CAMEL
Table: 6 ,

C A M E L

201 201 201 201 201 201 201 201 201 201 201 201 201 201 201 201 201 201 201 201 201 201 201 201 201
BANK
5- 4- 3- 2- 1- 5- 4- 3- 2- 1- 5- 4- 3- 2- 1- 5- 4- 3- 2- 1- 5- 4- 3- 2- 1-
S
16 15 14 13 12 16 15 14 13 12 16 15 14 13 12 16 15 14 13 12 16 15 14 13 12

LVB 3 3 3 1 6 7 7 3 2 1 6 8 10 8 9 1 1 4 1 2 9 7 6 9 9

ICICI 10 10 10 10 10 6 5 7 5 2 2 2 2 2 2 2 5 3 3 3 4 6 8 5 4

HDFC 9 8 8 8 9 10 9 10 10 9 4 5 4 4 4 3 6 5 7 6 10 5 4 6 7

KOTA
5 5 7 7 8 8 8 8 9 10 1 1 1 1 1 10 10 10 10 10 8 9 9 10 10
K

INDUS
8 9 9 9 7 9 10 9 8 8 3 3 3 3 3 6 8 8 9 8 5 4 5 4 3
IND

BOM 1 2 2 3 4 3 2 4 7 5 5 6 6 5 8 5 9 7 8 9 7 10 10 7 6

ANDH
2 1 1 2 1 5 3 1 3 6 7 4 7 6 5 4 7 9 6 1 6 8 7 8 8
RA

CANA
4 4 4 6 3 2 4 6 4 4 9 9 8 10 10 7 3 1 2 4 3 3 3 3 5
RA

BOB 7 6 5 5 2 4 6 5 6 7 10 10 9 9 7 8 2 2 5 7 1 1 1 1 2

PNB 6 7 6 4 5 1 1 2 1 3 8 7 5 7 6 9 4 6 4 5 2 2 2 2 1
Table 6 presents the year wise ranks of all the ratios. Lakshmi Vilas Bank has maintained good
Capital Adequacy with slight changes in the recent years. There was a decline in the maintenance of
Asset Quality from two years. The level of Management Soundness is not maintained well. Earnings
and Profitability is good in all the years when compared to all other banks. Liquidity is not
maintained to the level. ICICI Bank has less Capital Adequacy when compared to all other banks in
all the years. There is a decline in the Asset Quality. Management Soundness is well maintained.
There is an improvement in the Earnings and Profitability and Liquidity. HDFC Bank has constantly
maintained its Capital Adequacy Ratio but when compared to other banks it has less capital
adequacy. Asset Quality is also maintained constant but when compared to other banks its asset
quality is less. Management Soundness and Earnings of HDFC Bank are stably maintained. There is
a decline in Liquidity of HDFC Bank. Kotak Mahindra Bank has slight increase in the Capital
Adequacy and Asset Quality. Management Soundness is maintained well. Earnings and Profitability
are less when compared to all other banks. There is slight increase in Liquidity. Indusind Bank has a
decline in Capital Adequacy and Asset Quality. There is a stability in Management Soundness. There
is a slight increase in Earnings and profitability. There is a decline in the Liquidity. Bank of
Maharashtra has an increase in all the components.

C A M E L
BANKS AVERA RANKI AVERA RANKI AVERA RANKI AVERA RANKI AVERA RANKI
GE NG GE NG GE NG GE NG GE NG
44.6198 2.65940 24.7829 39.2222 10.9201
LVB 5 3 9 7 5 8 6 1 2 9
34.7413 2.74587 34.3830 36.7128
ICICI 1 10 8 6 7 2 9 2 12.488 5
40.6887 0.60458 27.5114 35.1011 11.8330
HDFC 5 8 3 10 4 4 8 6 9 6
42.4158 0.74612 42.4848 10.4953
KOTAK 5 7 4 8 2 1 23.9573 10 4 10
INDUSI 40.2368 0.64287 29.8268 32.0129 13.2456
ND 8 9 1 9 8 3 7 9 9 4
44.9233 3.64087 26.2229 32.1329 11.1269
BOM 8 2 6 3 5 6 8 8 8 8
ANDHR 3.95930 26.2603 35.1818 11.4604
A 46.1008 1 4 2 6 5 5 5 1 7
CANAR 43.9963 3.52093 23.5089 35.4814 14.1889
A 5 4 1 4 4 10 4 3 1 3
43.3932 3.09104 23.6483 35.2449 18.2666
BOB 4 5 4 5 4 9 9 4 4 1
43.1252 25.8592 34.4197 16.6345
PNB 9 6 5.23617 1 3 7 9 7 4 2

Table 7 presents the overall averages and ranking of all the components of ratios in CAMEL. Andhra
Bank has got first position in Capital Adequacy followed by Bank of Maharashtra, Lakshmi Vilas
Bank. Punjab National Bank has got first rank in Asset Quality followed by Andhra Bank, Bank of
Maharashtra. Kotak Mahindra Bank has got first rank in Management Soundness followed by ICICI
Bank, Indusind bank. Lakshmi Vilas Bank has got first rank in Earnings and Profitability followed
by ICICI Bank, Canara Bank. Bank of Baroda has got first rank in Liquidity followed by Punjab
National Bank, Canara Bank.

OVERALL RANKING
Table 8
OVERALL OVERALL
BANKS
AVERAGE RANKING
LVB 24.44092 4
ICICI 24.21423 5
HDFC 23.14781 10
KOTAK 24.01988 7
INDUSIND 23.19306 9
BOM 23.60943 8
ANDHRA 24.59254 3
CANARA 24.13931 6
BOB 24.72885 2
PNB 25.05501 1

Testing of Hypothesis

The study proposed a hypothesis that there is a significant difference between the financial
performance of public sector banks and private sector banks with reference to the select variables.
The study considered 15 different financial ratios as variables viz., Capital Adequacy Ratio (CAR),
Debt Equity Ratio (DER), Total Advance to Total Asset Ratio (TATA), Govt. Securities to Total
Investment Ratio (GSTI), Gross NPA Ratio (GNPA), Net NPA Ratio (NNPA), Total Advance to
Total Deposit Ratio (TATD), Business Per Employee Ratio (BPE), Profit Per Employee Ratio (PPE),
Dividend Payout Ratio (DPR), Return on Assets (ROA), Interest Income to Total Income Ratio
(IITI), Liquid Assets to Total Assets Ratio (LATA), Liquid Assets to Total Deposits (LATD), Govt.
Securities to Total Assets (GSTA).

To investigate the proposed hypothesis statistical tools like Descriptive Statistics, One Way ANOVA
(to examine the significant difference between the banks as well as among the banks), Test of
Homogeneity (Levene Statistic) Has been used. The following sections discuss the results of various
statistical tests employed.

Descriptive Statistics with Test of Homogeneity

 Table 9 – Descriptive Statistics with Test of Homogeneity

Test of
Test of Homogen Decision Rule
Homogen eity of – for
Variances – at
Std. eity - P Variance
5 % level of
Deviati Value (Levene significance
N Mean on Std. Error d.f. (Sig) Statistic)
CAR public 5 12.1278 .59543 .26628
sector
banks
private 5 15.5057 2.5952 1.16063
sector 4
banks
Total 10 13.8168 2.5140 .79502 1,8 0.015 9.418 Not
8 significant
DER public 5 17.0253 1.8134 .81100
sector 6
banks
private 5 9.5633 4.2442 1.89807
sector 1
banks
Total 10 13.2943 4.9934 1.57907 1,8 .270 1.406 Not
6 significant
TAT public 5 63.2643 3.0425 1.36065
A sector 1
banks
private 5 60.9885 3.2838 1.46856
sector 0
banks
Total 10 62.1264 3.2164 1.01712 1,8 .990 .000 Significant
2
GSTI public 5 84.8139 3.5197 1.57407
sector 3
banks
private 5 76.1046 11.468 5.12898
sector 74
banks
Total 10 80.4592 9.2214 2.91607 1,8 .193 2.023 Not
2 significant
GNP public 5 4.9188 1.0304 .46085
A sector 9
banks
private 5 2.1237 1.4157 .63312
sector 1
banks
Total 10 3.5212 1.8796 .59438 1,8 .217 1.799 Not
0 significant
NNP public 5 2.8609 .65534 .29308
A sector
banks
private 5 .8358 .90129 .40307
sector
banks
Total 10 1.8484 1.3004 .41122 1,8 .218 1.785 Not
1 significant
TAT public 5 74.3895 4.2230 1.88860
D sector 3
banks
private 5 74.4692 45.633 20.40786
sector 37
banks
Total 10 74.4294 30.552 9.66148 1,8 .104 3.372 Not
27 significant
BPE public 5 .8655 .17276 .07726
sector
banks
private 5 .6776 .08995 .04023
sector
banks
Total 10 .7715 .16331 .05164 1,8 .204 1.909 Not
significant
PPE public 5 .0449 .00752 .00336
sector
banks
private 5 .0935 .03782 .01691
sector
banks
Total 10 .0692 .03630 .01148 1,8 .118 3.064 Not
significant
DPR public 5 11.7978 4.7521 2.12522
sector 3
banks
 private 5 18.1031 10.660 4.76769
sector 88
banks
Total 10 14.9505 8.4612 2.67569 1,8 .109 3.246 Not
8 significant
ROA public 5 .7207 .63515 .28405
sector
banks
private 5 1.4365 .52734 .23584
sector
banks
Total 10 1.0786 .66723 .21100 1,8 .705 .154 Not
significant
IITI public 5 90.9581 1.2521 .55996
sector 0
banks
private 5 80.6644 8.2047 3.66925
sector 0
banks
Total 10 85.8112 7.7491 2.45049 1,8 .128 2.878 Not
2 significant
LAT public 5 9.1361 5.2719 2.35767
A sector 1
banks
private 5 6.4131 1.8749 .83848
sector 0
banks
Total 10 7.7746 3.9968 1.26390 1,8 .212 1.838 Not
2 significant
LAT public 5 12.9004 7.5295 3.36732
D sector 5
banks
private 5 9.7827 3.0549 1.36621
sector 3
banks
Total 10 11.3416 5.6608 1.79012 1,8 .008 12.129 Not
5 significant
GST public 5 20.9700 3.1235 1.39688
A sector 1
banks
private 5 19.1936 1.7954 .80294
sector 3
banks
 Total 10 20.0818 2.5778 .81519 1,8 .432 .684 Not
7 significant

Table 9 presents the results of Descriptive Statistics and Levene’s Test Statistic for test of
homogeneity. From the above table it was evident that means difference was found out between
public sector and private sector banks. In case of Debt Equity Ratio (DER), Net NPA (NNPA),
GSTI, PPE, DPR,ROA, LATA, LATD and the standard deviation of public sector banks is less than
the private sector banks. In case of CAR , DER, GSTI, NNPA, TATD, BPE, DPR, IITI,. It implies
that there is more spread in the financial ratios presented in case of private sector banks than
compared to public sector banks.

Equal variances across the groups/samples is called homogeneity of variances. The Levene’s test
uses an F-test to test the null hypothesis that the variance is equal across groups. Levene’s test
statistic shows that except for 1 variable viz., TATA, remaining all variables viz., TATD, CAR,
DER, TATA, GSTI, GNPA, NNPA, BPE, DPR, ROA, LATA, GSTA have equal variances across
the samples.

Decision Rule for Levene’s Test Statistic (for α =0.05)

If P≤0.05 , the variances are significantly different.

If P≥0.05, the variances are not significantly different.

One Way ANOVA Results for all independent variables

Table 10 – One Way ANOVA

Sum of
Squares Df Mean Square F Sig.
CAR Between 28.526 1 28.526 8.047 .022
Groups
Within Groups 28.359 8 3.545
Total 56.885 9
DER Between 139.204 1 139.204 13.070 .007
Groups
Within Groups 85.208 8 10.651
Total 224.411 9
TATA Between 12.948 1 12.948 1.292 .289
Groups
Within Groups 80.161 8 10.020
Total 93.108 9
GSTI Between 189.630 1 189.630 2.635 .143
Groups
Within Groups 575.682 8 71.960
Total 765.312 9
GNPA Between 19.531 1 19.531 12.740 .007
Groups
Within Groups 12.265 8 1.533
Total 31.796 9
NNPA Between 10.252 1 10.252 16.512 .004
Groups
Within Groups 4.967 8 .621
Total 15.220 9
TATD Between .016 1 .016 .000 .997
Groups
Within Groups 8400.954 8 1050.119
Total 8400.970 9
BPE Between .088 1 .088 4.654 .063
Groups
Within Groups .152 8 .019
Total .240 9
PPE Between .006 1 .006 7.952 .022
Groups
Within Groups .006 8 .001
Total .012 9
DPR Between 99.392 1 99.392 1.459 .262
Groups
Within Groups 544.948 8 68.119
Total 644.340 9
ROA Between 1.281 1 1.281 3.759 .089
Groups
Within Groups 2.726 8 .341
Total 4.007 9
IITI Between 264.901 1 264.901 7.691 .024
Groups
Within Groups 275.539 8 34.442
Total 540.440 9
LATA Between 18.538 1 18.538 1.184 .308
Groups
Within Groups 125.233 8 15.654
Total 143.771 9
LATD Between 24.300 1 24.300 .736 .416
Groups
Within Groups 264.107 8 33.013
Total 288.407 9
GSTA Between 7.889 1 7.889 1.216 .302
Groups
Within Groups 51.920 8 6.490
 Total 59.809 9

Table 10 presents the details of One Way ANOVA results for the predictor variables in the study.
From the table it can be observed that there is a significant difference between public sector banks
and private sector banks financial performance in terms of Capital Adequacy Ratio (CAR- Sig-0.022
at 1% level), Net NPA (NNPA -Sig -0.004 at 1% level), Profit Per Employee (PPE -Sig-0.022 at
1%), remaining variables are not exhibiting significant results.

Conclusion

Overall averages and rankings of all the components are the outcomes of the study on ten public and
private sector banks using CAMELS approach. Punjab National Bank with an average of 25.05% has
got first position followed by Bank of Baroda with 24.72%, Andhra Bank with 24.59%. Based on the
Ranking assigned to select banks in the study it is observed that Punjab National Bank has got first
position followed by Bank of Baroda, Andhra Bank, Lakshmi Vilas Bank.

As per the statistical tests the null hypothesis that there is a significant difference in financial
performance of public sector and private sector banks has been proved in very few areas, due to the
limitation in the number of observations selected for the study. But when comparison is made within
the sample banks of the sectors the hypothesis does not stand true.

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The authors express their sincere gratitude and acknowledgement to their student Ms. Bhargavi
Naidu, PGDM-TPS (Major-Finance), Roll No: 25-13, Batch 2016-18 for her support in this work.
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