PRESS RELEASE - 17TH JANUARY, 2011 AXIS BANK ANNOUNCES Q3 FY11 NET PROFIT OF `891.36 CRORES, UP BY 35.

88% YOY, AND 9M FY11 NET PROFIT OF `2,368.38 CRORES, UP BY 35.36% YOY Results at a Glance
• Net Profit during Q3 FY11 rose to `891.36 crores from `655.98 crores in Q3 FY10, registering a growth of 35.88% yoy. Net Profit for 9M FY11 stood at `2,368.38 crores, up by 35.36% yoy from `1,749.66 crores for 9M FY10. • Demand Deposits on a daily average basis grew by 36.34% yoy to `62,899 crores during Q3 FY11 from `46,133 crores during Q3 FY10, with Savings Bank deposits growing by 35.21% yoy. • The yoy growth in Net Interest Income and Fee Income during Q3 FY11 was 28.46% and 21.00% respectively. Net Interest Margin during Q3 FY11 was 3.81% compared to 3.68% in Q2 FY11. • The Bank is well-capitalised with a Capital Adequacy Ratio of 12.46% (without reckoning 9M FY11 profit, as stipulated by Reserve Bank of India) as at the end of 9M FY11 compared to 16.80% as at the end of 9M FY10 and 13.68% as at the end of H1 FY11. Tier-I capital was 8.86% as at the end of 9M FY11, as against 11.83% as at the end of 9M FY10 and 9.77% as at the end of H1 FY11. The Capital Adequacy Ratio including 9M FY11 profits would have been 13.79% with a Tier-I capital ratio of 10.19%.

Financial Highlights
• Net Interest Income (NII) and Net Interest Margin (NIM) The Bank continued to build an India-wide presence through its 1,120 branches and extension counters (excluding service branches and central processing centres), and 5,303 ATMs across 734 cities and towns. During the quarter, the Bank added 74 branches and 457 ATMs. The daily average balances of Savings Bank deposits during the quarter grew 35% yoy and those of Current Account deposits grew 38% yoy. Demand deposits on a daily average basis constituted 41% of total deposits during Q3 FY11 compared to 42% observed during Q3 FY10 and 39% observed during Q2 FY11. The Bank posted a NIM of 3.81% during Q3 FY11 compared to 4.00% during Q3 FY10 and 3.68% during Q2 FY11.

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The Bank restructured loans aggregating `163 crores during Q3 FY11.42%. as compared to `170 crores during Q3 FY10.117 crores (1.69% as on 31st December 2010 (as a proportion of Gross NPAs together with prudential write-offs).770 crores as on 31st December 2009 to `1. the Bank added `334 crores to Gross NPAs.46% as on 31st December 2009 and 0.349 crores during Q3 FY10. Recoveries and upgradations of `126 crores and write-offs of `87 crores during the quarter resulted in a closing position of `1.The Bank’s advances grew 46% yoy. Fee income from Large and Mid Corporate Credit grew 37% yoy. while investments rose to `59. During the quarter. up by 19% yoy.12% as on 30th September 2010.559 crores. from `84. The share of trading profits to operating revenue was 5% in Q3 FY11. over the same period. • Fee income Fee income registered a growth of 21% yoy.733 crores during Q3 FY11 from `1.23% as on 31st December 2009 and 1. as compared to 7% in Q3 FY10.34% as on 30th September 2010. followed by that from Treasury (25% yoy) and Retail Business (21% yoy). a growth of 28% yoy. compared to 1.623 crores from `49.56% of gross customer assets). The Bank had a provision coverage of 82. a growth of 21% yoy. Compared to `2. The provision coverage (as a proportion of Gross NPAs) before accumulated write-offs was 91. higher than the position at the end of December 2009 by `309 crores. The segment-wise break-up of the restructured loans outstanding as on 31st December 2010 is as follows: Large and Mid-Corporate Credit SME Agri Capital Markets 73% 15% 9% 3% Page 2 of 7 .145 crores in 9M FY10. • NPAs and restructured loans Net NPAs.274 crores.23. The NII rose to `1. with contributions from all major businesses in the Bank.483 crores of Gross NPAs on 31st December 2010. rising to `968 crores during Q3 FY11 compared to `800 crores in Q3 FY10. The cumulative value of loans restructured till 31st December 2010 was `2. decreased to 0.547 crores as on 31st December 2010.09% as on 31st December 2010. Gross NPAs as a proportion of gross customer assets stood at 1. • Trading Profits The Bank generated `135 crores of trading profits during Q3 FY11. as a proportion of net customer assets. fee income in 9M FY11 stood at `2.29% as on 31st December 2010 compared to 0.

95 lacs as on 31st December 2009 to 91.268 crores was in government securities. compared to 85 lac debit cards as on 31st December 2009. The Bank was assessed by Prime Database as the No.500 Electronic Data Capture (EDC) machines as on 31st December 2010. equities. The Bank had over 6.The sector-wise breakup of restructured loans outstanding as on 31st December 2010 is as follows: Textiles Shipping Agriculture Petroleum Others • Investment Portfolio The value of the Bank’s investment portfolio as on 31st December 2010 was `59. It was also awarded the “Best Domestic Debt House in India” 2010 by Asia Money and “Best Bond House in India” 2010 by Finance Asia and Euro Money. while `23.11. The Bank was awarded the “Best Domestic Bank in India” and “Best Domestic Bond House in India” at the Asset Triple A Country Awards 2010.1 Debt Arranger for the period April 2010 to September 2010 and also by Bloomberg Underwriter league table for the calendar year 2010. `36.12% Duration* 1.000 credit cards in force and an installed base of over 1.77. Retail advances grew from `18. of which. Category HFT AFS HTM Percentage 3.623 crores. The distribution of the investment portfolio in the three categories as well as the modified duration as on 31st December 2010 in each category was as follows.96 lacs as on 31st December 2010.59% 60.29% 36.355 crores was in other investments. 87% of the government securities have been classified in the HTM category while over 99% of the Bonds & Debentures portfolio has been classified in the HFT and AFS categories. including corporate bonds. a growth of 33% yoy. mutual funds etc. preference shares.900 crores as on 31st December 2009 to `25. The Bank's International Debit Card base has risen to 96 lac debit cards as on 31st December 2010.9 years 3.4 years 22% 21% 9% 8% 40% * Excluding mutual funds and equity investment Business Overview • Placement / Syndication and Project Advisory The Bank arranged debt aggregating `20. Retail advances accounted for 20% of the total advances of the Bank as on 31st December 2010.204 crores as on 31st December 2010.3 years 5. The Bank offers personal investment products including life insurance Page 3 of 7 . • Retail Business The number of Savings Bank accounts grew from 80.330 crores during Q3 FY11.

Department of Steel.through select branches. Ministry of Finance and Director.com e-mail: somnath. Ministry of Steel and Mines. • Capital and Shareholders’ Funds The Shareholders’ Fund of the Bank was `18. The unaudited net profit for 9M FY11 has not been reckoned for computation of Capital Adequacy ratio as advised by Reserve Bank of India. Executive Director & Chief Financial Officer.com Page 4 of 7 .19%.with focus on corporate lending. investment banking. online trading accounts and mutual funds of leading manufacturers as also wealth advisory services and Mohur .46%. trade finance. somnath. Somnath Sengupta.branches at Singapore. risk management and liability businesses. please contact Mr.59 billion as on 31st December 2010. • Appointment of Additional Director Shri Rabindranath Bhattacharya has been appointed as an Additional Director with effect from 17th January. The Capital Adequacy Ratio including net profit for 9M FY11 would have been 13.622 crores as on 31st December 2010. a growth of 18% yoy. The Tier-I capital was 8.sengupta@axisbank. as compared to `15. A presentation for investors is being separately placed on the Bank's website: www. as on 31st December 2010.80% as on 31st December 2009. general insurance products. syndication. • International Business The Bank has five international offices . 2011. He has also served as Nominee Director on the Board of Hindustan Aeronautics Limited and as Director Insurance DEA. as compared to 16. The Capital Adequacy Ratio for the Bank was 12.86% as on 31st December 2010. Shri Bhattacharya has served as Government Director on the Boards of Oriental Insurance Company.com For information.axisbank.gold coins and bars . United Insurance Company and New India Insurance Company.79% with a Tier I capital ratio of 10. as compared to 11.products.83% as on 31st December 2009.sengupta@axisbank. Hong Kong and Dubai (at the DIFC) and representative offices at Shanghai and Dubai . The total assets under overseas operations amounted to US$ 4.797 crores as on 31st December 2009.

50.02%) 24.66 147.64 8.65 1.544.54 1.00 2.35 1.455. depreciation) Operating Profit Core Operating Profit** Q3 FY11 891.705.48 1.84 11.36 21.46% 16.72 7.14% 32.13.11 988.167.559.448.455.65% 26.699.594.76 49.861.48% * Core Operating Revenue = Operating Revenue .733.29% (39.81 3.012.74% 19.08 %Growth 35.374.53 2.06.368.29% 27.390.523.137.04 2.17% 5.38 57.31 6.746.349.212.39 0.010.72 45.Trading Income `crores Condensed Unconsolidated Balance Sheet CAPITAL AND LIABILITIES Capital Reserves & Surplus Employees’ Stock Options Outstanding (Net) Deposits Borrowings Other Liabilities and Provisions Total ASSETS Cash and Balances with Reserve Bank of India and Balances with Banks and Money at call and short notice Investments Advances Fixed Assets Other Assets Total As on 31st Dec’10 As on 31st Dec’09 409.677.73% 22.00% (20.769.04 4.393.34 2.96 Page 5 of 7 .004.09 799.66 3.222.66 45.880.761.88% 34.57 962.205.794.813.749.337.23 6.99 3.98 1.547.36% 24.63% 19.604.57 1.98 15.20% 23.96 16.74 169.622.837.67 1.Fee Income .`crores Financial Performance Net Profit EPS Diluted (`) Net Interest Income Other Income .35 719.770.Trading Income ** Core Operating Profit = Operating Profit .06.76 Q3 FY10 655.181.84 403.23.84 4.83 2.99% 20.Trading Income .043.20 2.92 3.73 2.44 1.17% 28.56 25.53 1.88 4.16 16.63 1.11 1.88 84.45% 9M FY11 2.68 59.54 2.556.856.74 3.145.595.72 2.273.02 9M FY10 1.92% 37.23 438.26% 26.68% 30.705.658.24 2.65 134.69% 26.147.71 967.55.46 4.63 18.58%) 142.810.61 1.00 %Growth 35.156.42 3.05 4.50.Miscellaneous Income Operating Revenue Core Operating Revenue* Operating Expenses (incl.12 1.90 18.86 3.207.86 183.853.15% 21.66 5.90 1.63 15.

50.46% 1.00% 37.623 2.582 8.44% 23.706 0.98% 33.Tier I .39% % Growth 36.74% 69.55.09% 410 18.909 29.053 10. Page 6 of 7 .600 15.34% 17.133 42% 84.46% 8.688 18.899 41% 1.85% 27.627 22.06.622 12.282 46% 61.29% 1.274 1.97% 45.10% 36.518 17.799 42% 89.770 41.60% As on 31st Dec’09 1.Agri & Microfinance .89% * Retail Advances are defined as loans to individuals other than Agricultural Credit.SME .51% 9.Retail Advances* Investments Balance Sheet Size Net NPA as % of Net Customer Assets Gross NPA as % of Gross Customer Assets Equity Capital Shareholders’ Funds Capital Adequacy Ratio .853 51.204 59.931 39.Current Account Deposits Demand Deposits as % of Total Deposits Term Deposits Demand Deposits on a Cumulative Daily Average Basis – Q3 FY11 Demand Deposits as % Total Deposits (Cumulative Daily Average basis) – Q3 FY11 Net Advances .08% 20.811 65.132 26.944 46.880 62.772 25.456 0.Savings Bank Deposits .27% 45.`crores Business Performance Total Deposits Demand Deposits .86% 3.13.797 16.83% 4.547 70.23.80% 11.Large and Mid Corporate .36% 21.23% 404 15.Tier II As on 31st Dec’10 1.01% 32.900 49.

“would”. “estimate”. “contemplate”. “future”. “aim”. “strategy”. Axis Bank Limited undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date thereof.Safe Harbor Except for the historical information contained herein. “expect”. “should”. investment income. uncertainties and other factors that could cause actual results to differ materially from those suggested by the forward-looking statements. our growth and expansion. “will “seek to”. “project”. Page 7 of 7 . the adequacy of our allowance for credit losses. our exposure to market risks as well as other risks. technological changes. These forward-looking statements involve a number of risks. “philosophy”. “objective”. “believe”. but are not limited to our ability to successfully implement our strategy. continue”. “will likely result”. “will pursue” and similar expressions or variations of such expressions may constitute "forward-looking statements". our provisioning policies. These risks and uncertainties include. statements in this release which contain words or phrases such as “will”. future levels of non-performing loans. “plan”. “may”. “intend”. “anticipate”. “goal”. cash flow projections.