Yes Bank Limited · NSE:YESBANK
Yes Bank — Q1 FY2025 Earnings Presentation
68 slides from Yes Bank's earnings presentation, Jul 20, 2024
Slide 1: Cover letter to stock exchanges
YBL/CS/2024-25/67 July 20, 2024 National Stock Exchange of India Limited BSE Limited Exchange Plaza, Corporate Relations Department Plot no. C/1, G Block, P.J. Towers, Dalal Street Bandra - Kurla Complex Mumbai – 400 001 Bandra (E), Mumbai - 400 051 Tel.: 2272 8013/15/58/8307 Tel.: 2659 8235/36 8458
Slide 2: Press release: Financial results for quarter ended June 30, 2024
July 20, 2024 YES BANK ANNOUNCES FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 30, 2024 Key Highlights ▪ Net Profit for Q1FY25 at INR 502 Crs up 46.7% Y-o-Y & 11.2% Q-o-Q • NIMs for Q1FY25 steady Q-o-Q at 2.4% • Non-Interest Income for Q1FY25 at INR 1,199 Crs. Normalised growth at 20.5% Y-o-Y1 • NIL
Slide 3: Financial Highlights
Financial Highlights Profit and Loss ▪ NII at INR 2,244 Crs for Q1FY25 up 12.2% Y-o-Y & 4.2% Q-o-Q. ▪ NIMs at 2.4% for Q1FY25 vs. 2.5% in Q1FY24 & 2.4% last quarter ▪ Non-Interest Income for Q1FY25 at INR 1,199 Crs. Normalised Growth at 20.5% Y-o-Y ▪ Operating Costs at INR 2,558 Crs up 10.1% Y-o-Y b
Slide 4: Asset Quality; Digital & Other Highlights
Asset Quality ▪ (NNPA + net carrying value of SR) as % of Advances at 0.9% in Q1FY25 v/s. 1.1% in Q3FY24 and 2.4% in Q1FY24 • GNPA ratio at 1.7% as of June 30, 2024, v/s 1.7% at Q4FY24 and 2.0% at Q1FY24 • NNPA ratio improved to 0.5% v/s. 0.6% last quarter and 1.0% at Q1FY24 ▪ Gross Slippages for Q1
Slide 5: Financial Highlights from Q1FY25
Financial Highlights from Q1FY25 Profit & Loss Statement Highlights (INR Crs) Q1FY25 Q4FY24 Q-o-Q % Q1FY24 Y-o-Y % Net Interest Income 2,244 2,153 4.2% 2,000 12.2% Non-Interest Income 1,199 1,569 -23.6% 1,141 5.1% Total Net Income 3,443 3,722 -7.5% 3,141 9.6% Operating Profit/(Loss) 885 902 -1.9% 81
Slide 6: Investor Presentation Q1FY25 Financial Results
INVESTOR PRESENTATION Q1FY 25 Financial Results July 20, 2024
Slide 7: New Generation, Professionally Run Private Sector Bank with a Scalable Platform
New Generation, Professionally Run Private Sector Bank with a Scalable Platform • 6th Largest Private Sector 1, Universal Bank offering comprehensive suite of product and services via its pan India network of 1,232 branches, 219 BCBOs and 1,308 ATMs (including CRMs and BNAs) in over 300 districts of
Slide 8: A Unique Turnaround undertaken amidst a difficult backdrop
A Unique Turnaround undertaken amidst a difficult backdrop by a Seasoned Professional Team All figures in INR Crs Extreme Stress Conditions – Amidst Challenging Backdrop Bank now on the path of delivering Strong Growth Phase till FY18 Moratorium imposed in Mar’20 Mar’ 20 Apr’ 21 Jan’ 22 Onwards Prof
Slide 9: Contents
Contents Progress on Profitability Improvement Financial Results- Q1FY25 YES BANK Franchise 4
Slide 10: Key Business Levers engaged to Improve Profitability
Key Business Levers engaged to Improve Profitability Resolution of PSL (Priority Sector Lending) shortfall related drag Focus Target Metrics Page No. Ensuring full PSL compliance1 through organic sourcing, BC partnerships and Inorganic Interventions Organic PSL balances & reduction in shortfall 7 Re
Slide 11: Several Business outcomes demonstrating effective execution of Strategic Objectives
Several Business outcomes demonstrating effective execution of Strategic Objectives All figures in INR Crs Higher share of RoA Accretive Retail Products Increasing share of Internal Sourcing in Retail Advances Strong growth in Retail & Branch Banking Deposits RoA Accretive Products Other Retail Prod
Slide 12: Significant progress on ensuring PSL compliance
Significant progress on ensuring PSL compliance Sustained momentum in Organic balances; NIL Shortfalls in Overall and Sub-categories Comprehensive strategy adopted & currently under execution to reduce the quantum of RIDF balances over 2-3 years timeframe • Ensuring NIL shortfalls in overall PSL com
Slide 13: Balance Sheet mix to largely stabilize from hereon
Balance Sheet mix to largely stabilize from hereon Stabilization in mix to drive improvement in efficiency and profitability outcomes at the Bank level Significant shift in Balance Sheet and Income mix towards higher C/I intensive segments over the last few years. Advances mix expected to largely st
Slide 14: Retail Assets- Product and Sourcing Mix calibration
Retail Assets- Product and Sourcing Mix calibration oriented towards profitability improvement All figures in INR Crs Broadly retained product risk profile through Mix Optimization within existing product 1 Calibration in Disbursement growth with focus on ROA Accretive Products 2 categories Disburse
Slide 15: SME Segment: Niche Segment with Proven Expertise
SME Segment: Niche Segment with Proven Expertise Granular Book with improving Income generation All figures in INR Crs 1 High quality & well diversified granular book with best-in-class Asset Quality 2 Sustainable Product Mix Book Split by Ticket Size (count of customers) 4% 5% SME GNPA % 0 - 0.5 Cr
Slide 16: Mid Corporate Segment
Mid Corporate Segment Strong Competitive Advantage aided by Relationships, Expertise & Solutioning All figures in INR Crs 1 Steady growth in Balances in the Mid Corporate segment 2 Strong source of Fee Income FY23 FY24 Q1FY25 Mid Corporate Fees As % of Advances 600 2.3% 21% CAGR 513 34,393 34,380 2.
Slide 17: Maximizing Branch Distribution as Fulcrum of Business
Maximizing Branch Distribution as Fulcrum of Business Leveraging existing (and growing) network to offer full spectrum of products All figures in INR Crs Branch Banking led Deposits: 20.1%CAGR (FY23-Q1FY25) Deposits Outperformance in Branch Banking – even Branch led sourcing of Assets and distributi
Slide 18: Non-Interest Income: Strong Traction in Granular and Transactional Fee Streams
Non-Interest Income: Strong Traction in Granular and Transactional Fee Streams 1 Strong Traction in Non-Interest Income, even in the case of Core Fees 1 2 Steady Contribution to RoA FY23 FY24 Q1FY24 Q1FY25 Core Fees as % of Assets 38.8% Y-o-Y 1.27% 38.1% Y-o-Y 1.21% 1.15% 5,114 1.05% 4,837 3,685 3,5
Slide 19: Digital @ Banking
Digital @ Banking A blend of distinctive capabilities, integrated strategy and multi pronged delivery channels aimed at enhancing skill with better efficiency and profitability Distinctive Capabilities Business Integrated Strategy Multi Pronged Delivery Market Leadership – YBL processes ~1 in 3 ‘Del
Slide 20: Augmenting Digital & Transaction Banking Stack
Augmenting Digital &Transaction Banking Stack Customer Journeys and Internal Tools & Workflows Retail Customers Employee MSME & Corporate Customers Recent Add-ons Book of Work 1. YES PAY Biz – Open Market App for merchants 1. Gen Next AI: Using tech to service customer and employee queries 2. LIVE o
Slide 21: IRIS – A Next Gen all-in-one Retail SUPER APP
IRIS – A Next Gen ‘all-in-one’ Retail SUPER APP Gaining Strong Traction Since Go Live in Aug 2023 ✓26.6 lakh ✓17.9 Lakh ✓~18,400 ✓3.7 Lakh ✓87 Lakh ✓175 Lakh Registered Monthly Active PL Sourced RuPay Cards Service Request Transactions Users Users1 issued Handled ~67% of ~2,800 PL ~90,000 Cards 14%
Slide 22: YES Connect: Enriched Customer Experience
YES Connect : Enriched Customer Experience Super App for Businesses API’fication of our Marketplace model Sachetization of Solutions across Industry Segments (YES Bank + Partner Offerings) YES Bank Services Partner Services Smart FinTechs Collections E-Invoicing Remittances Retailers Exchange Houses
Slide 23: Ecosystem Partners
Ecosystem Partners Digitizing client journeys & creating inorganic client acquisition funnel through Fintech partnerships Partnership roadmap of Digital & Transaction Banking Source Digital Onboard Digital Transact Digital Service Phygital Monitor Digital ▪ Digital Acquisition at ▪ Digital Client On
Slide 24: Transaction Banking
Transaction Banking Leveraging the strength of solutioning, leading to granular CASA, NFB, Fee, NII & FX Revenue Sachetization of Transaction Banking: STRENGTHENING Curated Solutioning by Client Segments FRANCHISE 26% growth in Large Corporate NFB, 24% Market Leadership – YBL FinTech & 96% of our Co
Slide 25: Powering Digital India with our Distinctive Capabilities
Powering Digital India with our Distinctive Capabilities Powering over 1/3rd of all AePS in India (#1 by Txn Count) #1 PSP Bank Powering ~119 mn txn daily CAGR 30.1% (Q4FY22-Q1FY25) CAGR 77.5% (Q4FY22-Q1FY25) 120 36.2% 36.2% 40.0% 110 35.0% 24.0 53.3% 60.0% 29.3% 25.2% 100 30.0% 21.0 50.0% 23.8% 41.
Slide 26: Responsible franchise with sustainability at its core
Responsible franchise with sustainability at its core – Highest rated Indian Bank in ESG MSCI CRH S&P Global CDP Ranked highest FTSE4Good Highest rated Indian Index Constituent of ESG Score Included in MSCI ACWI’s ESG amongst 34 large Highest Score amongst bank for climate Universal Index, ACWI sche
Slide 27: Integrating ESG considerations across the Bank's business and operations
Integrating ESG considerations across the Bank’s business and operations Environment Social Governance First Bank globally with an ISO 21.8% women participation* in the Bank’s 54% of the Directors on the Bank’s 14001:2015 certified Environmental workforce with a target to achieve 25% Board are Indep
Slide 28: Contents
Contents Progress on Profitability Improvement Financial Results- Q1FY25 YES BANK Franchise 23
Slide 29: Results At a Glance – Q1FY25
Results At a Glance – Q1FY25 All figures in INR Crs Arrows indicative of Y-o-Y Trends Total Assets Advances Total Disbursements2 Deposits CD Ratio Advances Mix Retail & SME: Mid Corp: Corporate 407,697 229,565 20,910 v/s. 265,072 86.6% v/s. 60%:15%:25% 14.6%: Y-o-Y 14.7%: Y-o-Y 24,730 Q1FY24 20.8%:
Slide 30: Highlights for Q1FY25 (1)
Highlights for Q1FY25 (1) 1 Balance Sheet Highlights 2 ▪ Robust Deposit accretion & improvement in CASA Ratio on Y-o-Y basis; Q-o-Q marginally lower in line with Q1 seasonality • Deposits grew 20.8% Y-o-Y and marginally down 0.5% Q-o-Q; CD Ratio at 86.6% v/s. 91.3% in Q1FY24 and 85.5% last quarter •
Slide 31: Highlights for Q1FY25 (2)
Highlights for Q1FY25 (2) 1 P&L Highlights 2 ▪ Highest ever Quarterly Net Profit since Reconstruction at INR 502 Crs for Q1FY25 up 46.7% YoY and 11.2% Q-o-Q • RoA for Q1FY25 at 0.5% v/s. 0.4% in Q1FY24 & 0.5% in Q4FY24 ▪ NII up 12.2% Y-o-Y and 4.2% Q-o-Q; NIMs steady Q-o-Q at 2.4% • NII at INR 2,244
Slide 32: Profit and Loss Statement
Profit and Loss Statement All figures in INR Crs • Net Profit for Q1FY25 at INR 502 Crs up Quarter Ended Growth 46.7% Y-o-Y & 11.2% Q-o-Q. Profit and Loss Statement Q1FY25 Q4FY24 Q1FY24 Q-o-Q Y-o-Y • Q1FY25 NII at INR 2,244 Crs up 12.2% Y-o-Y Net Interest Income 2,244 2,153 2,000 4.2% 12.2% and 4.2%
Slide 33: Break Up of Non-Interest Income
Break Up of Non-Interest Income All figures in INR Crs • Non-Interest Income for Q1FY25 at INR 1 Quarter Ended Growth Break up of Non Interest Income 1,199 Crs, up 5.1% Y-o-Y and down 23.6% Q1FY25 Q4FY24 Q1FY24 Q-o-Q Y-o-Y Q-o-Q Non Interest Income 1,199 1,569 1,141 -23.6% 5.1% • Normalised for real
Slide 34: Break up of Operating Expenses
Break up of Operating Expenses All figures in INR Crs • Operating Costs at INR 2,558 Crs up 10.1% Quarter Ended Growth Y-o-Y and declined 9.3% Q-o-Q. Ex- PSLC Break up of Operating Expenses cost, Opex grew 8.0% Y-o-Y Q1FY25 Q4FY24 Q1FY24 Q-o-Q Y-o-Y • Excluding PSLC Cost and other one-offs Staff 980
Slide 35: Provisions and P&L
Provisions and P&L All figures in INR Crs • Provision cost for Q1FY25 down 19.5% Y-o-Y Quarter Ended Growth and 15.0% Q-o-Q Break up of Provisions Q1FY25 Q4FY24 Q1FY24 Q-o-Q Y-o-Y • Non-Tax provisions down 41.2% Y-o-Y and 55.0% Q-o-Q Operating Profit/(Loss) 885 902 818 -1.9% 8.2% • Gross Slippages f
Slide 36: Balance Sheet
Balance Sheet All figures in INR Crs • Balance Sheet grew 14.6% Y-o-Y Balance Sheet 30-Jun-24 31-Mar-24 30-Jun-23 Q-o-Q % Y-o-Y % • Advances growth at 14.7% Y-o-Y Assets 407,697 405,493 355,754 0.5% 14.6% • Robust growth momentum sustains in Advances 229,565 227,799 200,204 0.8% 14.7% Deposits at 20
Slide 37: Break up of Advances & Deposits
Break up of Advances & Deposits All figures in INR Crs • SME Advances up 23.8% Y-o-Y1; Mid Segmental Break up of Advances 30-Jun-24 31-Mar-24 30-Jun-23 Q-o-Q % Y-o-Y % Corporate Advances up 25.0%1 Y-o-Y 1 1 Retail 101,781 105,103 94,445 -3.1% 9.4% 1 1 • Corporate Advances up 13.8% Y-o-Y and SME 37,1
Slide 38: Break up of Investments
Break up of Investments All figures in INR Crs • Total Net Investments at INR 88,514 Crs Investments Breakup • SLR – INR 79,657 Crs • Non SLR – INR 8,857 Crs • Standard Performing- INR 6,509 Crs: 98% Rated AA and above HTM 1.2% • Security Receipts- INR 857 Crs • Others1- INR 1,491 Crs AFS 4.3% • Imp
Slide 39: NPA Highlights
NPA Highlights All figures in INR Crs • GNPA Ratio at 1.7% flat Q-o-Q Asset Quality Parameters 30-Jun-24 31-Mar-24 30-Jun-23 Gross NPA (%) 1.7% 1.7% 2.0% • NNPA Ratio at 0.5% down 10 bps Q-o-Q Net NPA (%) 0.5% 0.6% 1.0% Provision Coverage Ratio excl. Technical W/O (%) 67.6% 66.6% 48.4% • Gross Slipp
Slide 40: Summary of Labelled & Overdue Exposures
Summary of Labelled & Overdue Exposures All figures in INR Crs • Slippage of INR 32 Crs in Q1FY25 from 30-Jun-24 31-Mar-24 30-Jun-23 Particulars Standard Restructured Advances pool of Gross Provisions Gross Provisions Gross Provisions Q4FY24 NPA 3,845 2,599 3,983 2,653 4,073 1,972 Other Non Performi
Slide 41: CET 1 Ratio at 13.3%
CET 1 Ratio at 13.3% 1 Bank’s Capital Adequacy Ratio 1 18.3% 16.5% 15.4% During the quarter both CA Basque 4.7% 3.2% 3.2% CRAR Investments and Verventa Holding TIER II Ltd. have exercised the outstanding 13.3% 13.6% CET 1 12.2% Warrants 30-Jun-24 31-Mar-24 30-Jun-23 RWA to Total Assets at 70.3% vs.
Slide 42: Contents
Contents Progress on Profitability Improvement Financial Results- Q1FY25 YES BANK Franchise 37
Slide 43: Retail Bank
Retail Bank: Full spectrum retail bank growing with strong momentum All figures in INR Crs Strong growth in Retail Advances 1 Highest Ever +9% Y-o-Y2 Pan-India presence via 1,232 branches, 219 BC 61% of branches in 100,441 103,086 105,103 101,781 Top 200 deposit 94,445 banking outlets and 1,308 ATMs
Slide 44: Branch Banking
Branch Banking: Expanding Footprint, Enhanced Digital Cross Sell & Growth in Granular Deposits All figures in INR Crs 1 Branch Network 2 Digital Journeys for seamless Customer Acquisition, Servicing & Cross sell Assisted Digital Branches BCBO • ~96% Individual SA, ~95% Eligible CA accounts opened di
Slide 45: Retail Assets
Retail Assets: Fast growing diversified book All figures in INR Crs 1 Retail Banking asset disbursements1: Calibration in Product mix 2 Diversified retail book2 Home Loans Preferred financier status 11,283 11,149 Secured Business Loans 3% with leading Auto OEMs 5% 19% Personal Loans 9,769 9,517 2% A
Slide 46: Rural Assets
Rural Assets Deepening the penetration in emerging rural markets & generating Agri PSL All figures in INR Crs 1 Business originations 1 2 Robust Farmer financing and Women Microfinance book 1,182 ▪ High quality farmer financing book with NPA of 1.8% 1,126 938 963 748 ▪ Covid impacted women microfina
Slide 47: SME Banking
SME Banking: Strong Book Growth while boosting bottom line All figures in INR Crs 1 Steady growth in funded book 2 Funded and Non-Funded Book composition YoY growth: 23.8%1 QoQ Growth: 5.3% 20% Working Capital & Term Loan 37,147 Channel Finance 2% 35,327 33,142 Commodity Finance 10% 30,979 28,899 68
Slide 48: Credit Cards
Credit Cards: Strong business growth and enhanced customer experience 1 Sustained Strong Growth in Cards, Book Size & Card Spends 2 Growth in Acquisition and Cross sell No of Cards In (‘000s) 2,230 ▪ Steady growth in new card acquisition leading to 49% YoY growth in customer base Book Size in Cr to
Slide 49: Wholesale Banking
Wholesale Banking Covering diverse Client Segments with deep Product Expertise Indian Scheduled Commercial & Cooperative Banks, International Banks, Global DFIs and DFIs, NBFCs, MFIs, Insurance, Mutual Funds, Stock Cross border Money Transfer Operators Indian Brokers & Payment Operators Internationa
Slide 50: Wholesale Banking Business (1)
Wholesale Banking Business (1) All figures in INR Crs 1 Corporate Book 3 Providing tailored solutions to clients across business segments Funded O/S Non-Funded O/S • Team of 187 Relationship Bankers in 10 cities Large • Focus on providing wide suite of banking products to develop and maintain core 6
Slide 51: Wholesale Banking Business (2)
Wholesale Banking Business (2) Building sustainable Liability Book All figures in INR Crs Wholesale Deposits +20.3% Y-o-Y1 124,849 122,620 108,808 109,010 101,761 Q1FY24 Q2FY24 Q3FY24 Q4FY24 Q1FY25 1 Growth rates normalised for Inter- segment movement of Products and Customers during the quarter 46
Slide 52: Large Corporates
Large Corporates Focus Sectors Pan India Presence Products • Presence in 10 major locations • Working capital Finance, Project Finance, • Chemicals • Metals & Mining Supply Chain Finance, FX and Derivatives • Infra - Road & Port • Logistics & Warehousing • Delhi • Bengaluru • Electronics & Electrica
Slide 53: Mid Corporates
Mid Corporates Knowledge Sectors – Media & Growth led by NTB and X-sell - Entertainment, Gems & Jewellery, ECOM Team higher wallet share and Food & Agri, Pharma, Chemicals, Unicorn and Soonicorn Focus productivity Auto ancillary, Logistics, Metals Initiatives to maintain Bank’s Leadership Position i
Slide 54: Indian Financial Institutions
Indian Financial Institutions Co-operative Banks & RRBs Banks & DFIs • Relationship driven, Liability rich product offerings • Strong relationships with Domestic Banks & FIs • Dominant position in Digital offerings for Co-operative Banks • Resource raising in the form of Borrowings & Refinance NBFCs
Slide 55: International Banking
International Banking Accessing International Market Banking with the Providing access to international markets for availing world financing, trade services and remittance solutions • Resource raising – Trade loans, Bilateral / Syndication loans, MTN borrowings • INR borrowings / FD placements Partn
Slide 56: Government Banking
Government Banking Partnering Government for settlement & disbursement Competitive First mover in Key Growth Sectors - Smart Cities, Defense advantage OFB, Ports • Central Ministries • State Governments - Government Fund Flow Management • Local Governments – Urban Local Bodies, Districts & Panchayat
Slide 57: Multinational Corporates
Multinational Corporates Focused Banking for every stage of Multinational Growth Extending YES Bank digital Stack to enable seamless Digital stack banking • Preferred Local Country Bank • Supply chain financing Pan-India coverage Core Coverage MNC dominant location with Service and Marquee • Salary
Slide 58: Project Finance Business & Loan Syndication
Project Finance Business & Loan Syndication Sectoral expertise built over the years across sectors viz. Energy, Ports & Logistics, Transport, Real Estate and demonstrated Distribution capabilities across Banks, NBFCs, FIs Sectoral Knowledge Sector-focused Business Development & Risk Identification B
Slide 59: IFSC Banking Unit - GIFT City
IFSC Banking Unit - GIFT City GIFT, Gandhinagar, Gujarat is the only International Financial Services Centre in India. One of the key strategic focus areas for the Government and recognized as the gateway for financial and investment activities helping onshoring the offshore funds YBL was the First
Slide 60: Knowledge Banking
Knowledge Banking Leveraging knowledge as a competitive differentiator to grow Banking Business Business Economics Banking (BEB), Food & Agri Strategic Advisory & Research (FASAR), Corporate & Government Advisory (CGA) • A team of specialists with deep sectoral knowledge and expertise in Economy, Fo
Slide 61: Strategically leverage Public Digital Infrastructure
Strategically leverage Public Digital Infrastructure Contributing to building new-age India through collaboration on Key Digital Initiatives Digital Initiatives Principle Objectives YES Differentiators Consent Layer for Data sharing system making Curated & Expansive offerings Account Aggregator (AA)
Slide 62: Financial Markets – Customised solutions for clients
Financial Markets – Customised solutions for clients >15 yrs Remittances FX All 32% Currency Exotics Notes Active FX trading desk FX GO Available across digital 5-15 yrs Imports for market making Full platforms for Rate booking 36% providing best in class YesFX FX Sales Product Suite pricing for cus
Slide 63: Robust Governance Structure – Board Members
Robust Governance Structure – Board Members Eminent and Experienced Board Rama Subramaniam Gandhi Atul Malik Sharad Sharma Sadashiv Srinivas Rao Sanjay Kumar Khemani Non-Executive, Part time Chairman, Independent Director Independent Director Independent Director Independent Director Independent Dir
Slide 64: Professional and Seasoned Management team
Professional and Seasoned Management team Prashant Kumar Managing Director & CEO, YES Bank Manish Jain Niranjan Banodkar Rajan Pental Country Head- Wholesale Banking Chief Financial Officer Executive Director Archana Shiroor Dheeraj Sanghi Sachin Raut Gaurav Goel Chief Human Resources Officer Countr
Slide 65: Strong people focus
Strong people focus: Stable leadership with focus on up-skilling talent, objective performance management & enabling employee flexibility • Employees in Grades G1 to G3 with an average vintage of ~9 years within the Bank combined with top talent from the industry. Leadership • Leadership Excellence
Slide 66: Strong Investor base
Strong Investor base Well diversified Investor base: Shareholding Pattern as on June 30, 2024 Category % STATE BANK OF INDIA Banks 33.7% 24.0% VERVENTA HOLDINGS FDI 16.1% CA BASQUE INVESTMENTS 48.6% 1 Resident Individuals 30.2% LIFE INSURANCE CORPORATION OF INDIA HDFC BANK FPI’s 11.0% 9.2% ICICI BAN
Slide 67: Credit Rating
Credit Rating ICRA Downgrades CARE Upgrades: Basel II Upper Tier II to D from BB BASEL III Tier II to BBB from C INDIA Ratings CARE Downgrades INDIA Ratings Upgrades BASEL II Upper Tier II to BB+ from D CARE Upgrades Ratings across all Outlook-keeps Basel II Upper Tier II to D from C BASEL III Tier
Slide 68: Thank You
Thank You Disclaimer: No representation or warranty, express or implied is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of information or opinions contained herein. The information contained in this presentation is only current as of its date.