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-2.2 (-0.17%)
-1.55 (-0.12%) | Chairman's Speech (Axis Bank) | Year : Mar '13 |
Dear Shareholder''s It has been a challenging environment but despite the slowing momentum of growth in the economy, your Bank has reported another consistent performance - reflected in a steady growth of our customer base, widening reach through multiple channels, healthy growth of business and revenues and stable asset quality. It is also an affirmation of the Bank''s focus on a balanced growth strategy. The Bank''s retail businesses grew steadily during the year and there was credible growth of both retail deposits and loans, supported by an expanding network that is critical to the retail franchise. We added 325 branches and 1,321 ATMs in FY 2012-13. Your Bank continues to balance growth with profitability and generate value for our stakeholders. This is evidenced by the consistently healthy return on assets and return on equity. We also have a deep and abiding commitment to the environment and the underprivileged. Towards this end, your Bank has adopted the ambitious goal of facilitating the creation of one million sustainable livelihoods by 2017 in partnership with reputed organizations in the field. During the current financial year, your Bank undertook a successful equity capital raising exercise and global and domestic investors have invested Rs.5,537 crores in the Bank. We are grateful to all the investors who have reposed confidence in us. Looking ahead, we are optimistic about the future and we believe that your Bank is positioned to adapt suitably to challenges and capitalise on emerging opportunities in the economy. I truly appreciate your support and association with the Bank and remain committed to delivering value to all our stakeholders. Shikha Sharma 24th April, 2013 |
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| Source : Dion Global Solutions Limited | |
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