Specialist in Indian Banking and Economic Research

Hemindra Hazari

Equity Bottom-Up

<ul>
<li>Sudden resignation of Ravi Narayanan Group-Head in charge of retail branches, retail liabilities and third party products as he wishes to pursue entrepreneurship.</li>
<li>Possible explanation is that the bank like other banks is finding it difficult to raise retail deposits and pressure is building up on senior management</li>
<li>Bank has a high LDR and reportedly the banking regulator is demanding the bank to lower its LDR. This will have consequences on future loan growth or on NIM</li>
</ul>


Sudden resignation of Ravi Narayanan Group-Head in charge of retail branches, retail liabilities and third party products as he wishes to pursue entrepreneurship.
Possible explanation is that the bank like other banks is finding it difficult to raise retail deposits and pressure is building up on senior management
Bank has a high LDR and reportedly the banking regulator is demanding the bank to lower its LDR. This will have consequences on future loan growth or on NIM


Axis Bank Incubates a New Entrepreneur -- Its Head of Retail Branches

External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

External broker reports(aggregated public sources)

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<ul><li>AXSB still has significant ground to cover in terms of enhancing the quality of its deposit franchise and exercising better pricing power on the asset side when compared with its larger private sector banking peers</li><li>With its loan-to-deposit ratio at 93%, AXSB continues to face a trade-off between growth and quality of deposits, incrementally leaning towards the latter in recent times (outflow run rate improved 500bps over the past six quarters)</li><li>With AXSB likely to sustain its investments in focus areas, we expect elevated opex ratios and deferred productivity gains</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

AXSB still has significant ground to cover in terms of enhancing the quality of its deposit franchise and exercising better pricing power on the asset side when compared with its larger private sector banking peersWith its loan-to-deposit ratio at 93%, AXSB continues to face a trade-off between growth and quality of deposits, incrementally leaning towards the latter in recent times (outflow run rate improved 500bps over the past six quarters)With AXSB likely to sustain its investments in focus areas, we expect elevated opex ratios and deferred productivity gainsContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Axis Bank: Deposit Handicap to the Fore; Downgrade to ADD

Thematic (Sector/Industry)

<ul><li>Hindustan Unilever: HUL reported 2% UVG with flat value growth as pricing remained negative (passing on softening RM benefits to consumers)</li><li>Mirroring trends of previous quarters, demand recovery remains gradual with the urban market leading growth with premium portfolio sustaining outperformance over the mass portfolio</li><li>Given the benign input cost environment, local competitive intensity remains high</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Hindustan Unilever: HUL reported 2% UVG with flat value growth as pricing remained negative (passing on softening RM benefits to consumers)Mirroring trends of previous quarters, demand recovery remains gradual with the urban market leading growth with premium portfolio sustaining outperformance over the mass portfolioGiven the benign input cost environment, local competitive intensity remains highContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

HSIE Results Daily: Hindustan Unilever, Axis Bank,

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Nimish Maheshwari

Forensics and Corporate Governance Analyst

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Forensic Accounting

Kotak Mahindra Bank / Forensic Accounting

<ul>
<li>RBI has barred Kotak Bank from expanding its digital business and credit card issuance</li>
<li>Rather than earnings damage (max -10%) there is more reputational damage to the bank taking away premium valuations it used to command</li>
<li>The way ahead lies for the bank is the path of moderate growth </li>
</ul>


RBI has barred Kotak Bank from expanding its digital business and credit card issuance
Rather than earnings damage (max -10%) there is more reputational damage to the bank taking away premium valuations it used to command
The way ahead lies for the bank is the path of moderate growth 


Why RBI's Favourite Enemy Kotak Bank Is Barred from Digital Banking Business?

<ul>
<li>Axis Capital is a 100% subsidiary of <a href="https://www.smartkarma.com/entities/axis-bank-ltd" target="_blank" data-smartkarma-citation="entities:768:1" rel="noopener">Axis Bank Ltd (AXSB IN)</a> and one of its businesses is structured finance</li>
<li>The Sojo Infotel is a high-risk transaction undertaken by Axis Capital which was underwritten by the company with the implicit support of the bank as per the credit rating agency</li>
<li>When the transaction was done it was 50% of Axis Capital's equity and default risk is high as the redemption date is on March 25, 2024</li>
</ul>


Axis Capital is a 100% subsidiary of Axis Bank Ltd (AXSB IN) and one of its businesses is structured finance
The Sojo Infotel is a high-risk transaction undertaken by Axis Capital which was underwritten by the company with the implicit support of the bank as per the credit rating agency
When the transaction was done it was 50% of Axis Capital's equity and default risk is high as the redemption date is on March 25, 2024


Is Axis Capital an Investment Bank or a Hedge Fund?

India

Axis Bank Limited provides a full range of banking services throughout India. The Group's activities include retail banking, investment management, merchant banking, treasury and NRI services, cash and credit management services, and ATM facilities.

Axis Bank Ltd (AXSB IN)

Axis Bank Incubates a New Entrepreneur -- Its Head of Retail Branches

Ravi Narayanan resigns from bank to pursue entrepreneurship amid pressure to raise retail deposits and lower LDR, impacting loan growth and NIM.

Hemindra Hazari

Axis Bank: Deposit Handicap to the Fore; Downgrade to ADD

AXSB still has significant ground to cover in terms of enhancing the quality of its deposit franchise and exercising better pricing power on the...

HDFC Securities

HSIE Results Daily: Hindustan Unilever, Axis Bank,

Hindustan Unilever: HUL reported 2% UVG with flat value growth as pricing remained negative (passing on softening RM benefits to consumers)

HDFC Securities

Why RBI's Favourite Enemy Kotak Bank Is Barred from Digital Banking Business?

Why RBI's Favourite Enemy Kotak Bank Is Barred from Digital Banking Business? A Comprehensive analysis on RBI's Action, Cause of Action and its...

Nimish Maheshwari

Is Axis Capital an Investment Bank or a Hedge Fund?

A single high-risk transaction was done at 50% of Axis Capital’s net worth, and yet was not considered a major risk, this is an issue which...

Hemindra Hazari

Axis Bank Incubates a New Entrepreneur -- Its Head of Retail Branches

​Ravi Narayanan resigns from bank to pursue entrepreneurship amid pressure to raise retail deposits and lower LDR, impacting loan growth and NIM.

Hemindra Hazari

Axis Bank: Deposit Handicap to the Fore; Downgrade to ADD

AXSB still has significant ground to cover in terms of enhancing the quality of its deposit franchise and exercising better pricing power on the...

HDFC Securities

HSIE Results Daily: Hindustan Unilever, Axis Bank,

Hindustan Unilever: HUL reported 2% UVG with flat value growth as pricing remained negative (passing on softening RM benefits to consumers)

HDFC Securities

Why RBI's Favourite Enemy Kotak Bank Is Barred from Digital Banking Business?

Why RBI's Favourite Enemy Kotak Bank Is Barred from Digital Banking Business? A Comprehensive analysis on RBI's Action, Cause of Action and its...

Nimish Maheshwari

Is Axis Capital an Investment Bank or a Hedge Fund?

A single high-risk transaction was done at 50% of Axis Capital’s net worth, and yet was not considered a major risk, this is an issue which...

Hemindra Hazari

Ravi Narayanan resigns from bank to pursue entrepreneurship amid pressure to raise retail deposits and lower LDR, impacting loan growth and NIM.