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    Investor Presentation

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    Tracking the India Growth StoryMeeting Diverse Customers Needs

    Unique Franchise in the Indian Banking Sector

    Key Business Initiatives

    Financial Highlights

    Value Proposition

    1

    Contents

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    Tracking the India Growth Story

    Private Consumption Strong distribution network and retail customer franchise Equally well positioned in urban and rural markets Leading player across retail loan categories

    Government Large tax collector for the Government of India

    Significant provider of cash management services for publicsector and semi government undertakings

    Investment Leading working capital banker to capital goods

    manufacturers Term Loans for capex and brown field expansion Project financing to strong and established players Debt syndication team in place

    India GDP*

    2

    *Source CSO GDP at Market Prices at current prices

    FY Fiscal year ended March 31

    ` - Rupees

    ` . Tn

    InvestmentGovernment

    Private consumption

    0

    10

    2030

    40

    50

    60

    70

    80

    90

    100

    FY 2010 FY 2011 FY 2012

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    Tracking the India Growth StoryMeeting Diverse Customers Needs

    Unique Franchise in the Indian Banking Sector

    Key Business Initiatives

    Financial Highlights

    Value Proposition

    3

    Contents

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    Wide Range of Products and Customer SegmentsLoan Products:

    Auto LoansRetail Business Banking Personal LoansCredit Cards2-Wheeler LoansCommercial Vehicles FinanceConstruction Equipment FinanceHome Loans / MortgagesLoans against SecuritiesTractor and Agri loansEducation LoansGold Loans

    Other Products / Services:

    Depository AccountsMutual Fund SalesPrivate Banking Insurance Sales (Life, General)NRI ServicesBill Payment ServicesPOS TerminalsDebit CardsGold SalesForeign Exchange ServicesBroking (HDFC Securities Ltd)

    Deposit Products:

    Savings AccountsCurrent AccountsFixed / Recurring DepositsCorporate Salary Accounts

    Commercial Banking:

    Working Capital Term LoansBill CollectionForex & DerivativesWholesale DepositsLetters of Credit Guarantees

    Transactional Banking:

    Cash Management Custodial ServicesClearing Bank ServicesCorrespondent Banking Tax CollectionsBanker to Public Issues

    Key Segments:

    Large CorporateEmerging CorporatesFinancial InstitutionsGovernment / PSUsSupply Chain (Suppliers and dealers)

    AgricultureCommodities

    Products / Segments

    Foreign ExchangeDebt SecuritiesDerivativesEquities

    Other Functions:

    Asset Liability Management Statutory Reserve Management

    Complete Suite of Products to Meet Diverse Customers Needs

    Treasury

    WholesaleBanking

    RetailBanking

    4

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    Total Deposits Gross Advances Profit Before Tax

    5

    Indian GAAP figures. Fiscal Year ended 31 st March; ` - Rupees

    Gross advances and Profit Before Taxes classified as per RBI guidelines for segmental reporting (Basel II).

    Other Banking Operations Segment (which includes Credit Cards, Third Party Product sales etc.) has been added to the Retail Segment

    Business Mix

    Customer segments - main drivers of net revenues

    Well balanced loan mix between wholesale and retail segments

    Higher retail revenues partly offset by higher operating and credit costs

    Equally well positioned to grow both segments

    ` . Bn ` . Bn ` . Bn

    0

    1,500

    3,000

    2010 2011 2012

    Retail Wholesale

    0

    1,250

    2,500

    2010 2011 2012

    Retail Wholesale

    0

    50

    100

    2010 2011 2012

    Retail Wholesale

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    Tracking the India Growth StoryMeeting Diverse Customers Needs

    Unique Franchise in the Indian Banking Sector

    Key Business Initiatives

    Financial Highlights

    Value Proposition

    6

    Contents

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    Strong National Network

    All branches linked online, real time

    Anytime, Anywhere, Anyhow banking

    75% branches outside the top 9 cities

    Customer base of 26 million

    Branch classification

    Mar 09 Mar 10 Mar 11 Mar 12

    Cities 528 779 996 1399Branches 1412 1,725 1,986 2,544

    ATMs 3295 4,232 5,471 8,913

    Metro36%

    Urban34%

    Semi

    Urban22%

    Rural8%

    Mar '09

    Metro28%

    Urban27%

    Semi

    Urban36%

    Rural9%

    Mar '12

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    0

    1500

    3000

    2010 2011 2012

    Time Savings Current

    Total Deposits Core CASA Ratio Average Saving Balance per Account

    Healthy proportion of CASA (current & savings) deposits

    Floats from multiple transactional banking franchises

    Continued growth in new customer acquisitions Provides customer base for ongoing cross-sell through branches

    Quality growth rather than mere numbers

    ` . Bn

    Indian GAAP figures. Fiscal year ended 31st March

    Core CASA ratio based on daily average balances for the year

    ` - Rupees

    8

    ` .

    High Quality Deposit Franchise

    0%

    26%

    52%

    2010 2011 20120

    25,000

    50,000

    2010 2011 2012

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    Amongst the lowest deposit costs in the industry Healthy margins relatively stable over rising & declining interest rates

    Average yields supported by higher proportion & product mix of retail loans

    Indian GAAP figures. Fiscal year ended 31st March

    9

    Low Funding Costs Healthy Margins

    4.35% 4.25% 4.22%

    0.00%

    2.50%

    5.00%

    2010 2011 2012

    Net Interest Margin

    4.66%4.30%

    5.72%

    0.00%

    3.50%

    7.00%

    2010 2011 2012

    Cost of Deposits

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    Indian GAAP figures. Fiscal year ended 31 st March; FY - Fiscal Year ended 31 st March.

    * Profit / (loss) on sale and revalua tion (mark to market) of the Government Bond portfolio etc.& includes miscellaneous income

    ` - Rupees

    10

    Strong Non-Funded Revenues

    Other Income (non-funded revenues) at 30% of Net Revenues in FY 2012

    Composition of Other Income in FY 2012: Fees and commissions 82%,

    FX and Derivatives Revenues 22%,

    Loss on sale of Investments (3%)

    Multiple sources of fees &commissions:

    Banking charges (Retail & Wholesale)Retail Asset FeesCredit card FeesThird party product salesCash management

    Trade FinanceDepositary chargesBullion salesCustody

    ` . Mn

    -2,000

    27,000

    56,000

    2010 2011 2012

    P/L on Investments*

    FX & Derivatives

    Fees & Commission

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    The charts above cover only transactions initiated by our own customers and which could have been transacted at the Banks br anches.

    Transactions such as (a) SMS alerts sen t to customers, (b) point of sale (POS) transactions, and (c) transactions by holders of other

    banks cardholders have therefore been excluded.

    % Customer Initiated Transactions by Channel

    ATMs

    40%

    Branches43%

    PhoneBanking

    14%Internet

    2%Mobile

    1%

    2001

    Multiple Delivery ChannelsGreater Choice and Convenience for Our Retail

    Customers

    Regionalized Processing Units Derive Economies of Scale

    Electronic Straight Through Processing Reduce Transaction Costs and Error Rates

    Data Warehousing, CRM, Analytics Improve Sales & Credit Efficiencies, Cross-sell

    Innovative Technology Application Provide New or Superior Products

    2012

    11

    Leveraging Technology

    ATMs30%

    Branches18%

    PhoneBanking

    12%

    Internet38%

    Mobile2%

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    NPA% to Advances Loan Loss Provisions ` . Bn

    Amongst the best portfolio quality (wholesale & retail) in the industry

    Strong credit culture, policies, processes

    Specific provision cover (excluding write-offs, technical or otherwise) at 82% of NPAs,

    total provision coverage of over 100%

    Restructured loans formed 0.4% of the Bank's gross advances as on March 31, 2012

    Indian GAAP figures. Fiscal year ended 31 st March.

    Net Non Performing Assets (NPA) = Gross NPA less specific loan loss provisions

    ` - Rupees

    12

    Healthy Asset Quality

    0

    14

    28

    2010 2011 2012

    Gross NPAs Specific Provision General Provision

    1.43%

    1.05% 1.02%

    0.31%0.19% 0.18%

    0%

    1%

    2%

    2010 2011 2012Gross NPA % Net NPA %

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    0

    26,000

    52,000

    2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

    Net Profit

    13.5

    17.0

    22.1

    0

    13

    25

    2010 2011 2012

    ROA

    ` . Mn

    EPS

    1.53% 1.58%1.77%

    0%

    1%

    2%

    2010 2011 2012

    Indian GAAP figures. Fiscal year ended 31st March

    * 10 year Compounded Annual Growth Rate

    EPS for the year 2010 & 2011 has been recomputed to give effect of the share split from ` 10 to ` 2

    113

    Consistent Financial Performance

    ` .

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    Tracking the India Growth StoryMeeting Diverse Customers Needs

    Unique Franchise in the Indian Banking Sector

    Key Business Initiatives

    Financial Highlights

    Value Proposition

    14

    Contents

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    Leading provider of electronic banking services for supply chain management (SCM)

    Structured cash management-cum-vendor/distributor finance

    CorporateDealers

    DistributorsOEM Customers

    Vendors

    ` . Bn Wholesale Advances

    Indian GAAP figures. Fiscal year ended 31st March; Total wholesale advances are as per the RBI guide lines for segmental reporting (Basel II).

    Others includes Capital markets and commodity finance, and other consumer loans over `. 50 million.

    FIG Financial Institutions and Government group, CV/CE Large ticket commercial vehicle and construction equipment loan ` - Rupees

    115

    Accessing Multiple Segments

    Leveraging relationships with large & emerging

    corporates for multiple revenue streams

    Focus on house banking

    Balanced mix between working capital financing,term loans and transactional banking

    Well diversified loan portfolio across major industry segments

    0

    500

    1,000

    2010 2011 2012

    Others

    CV / CE

    Business Banking

    FIG

    Emerging Corporate

    Corporate

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    0

    850

    1,700

    2010 2011 2012

    Primary Settlements Accounts(Stock Exchanges)

    0

    14,000

    28,000

    2010 2011 2012

    Gross Cash Management Volumes * Nos.

    Clear market leader : cash settlements on stock & commodities exchanges

    Leading provider of cash management solutions Large corporates and SME

    Financial Institutions

    Government (including tax collections)For the Fiscal year ended 31st March,

    * Gross Cash Management Volumes adjusted for collections on account of IPOs

    ` - Rupees

    ` . Bn

    116

    Focus on Transactional Banking Opportunities

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    0

    6,000

    12,000

    2010 2011 2012

    FX & Derivatives Revenues

    Revenues Largely customer driven, low reliance on trading revenue

    Treasury advisory services Plain vanilla FX offerings to retail and business banking segments

    FX and derivatives product sales to corporate and institutional customers

    Indian GAAP figures. Fiscal year ended 31st March; ` - Rupees

    Corp Corporate, ECG Emerging Corporate Group, BB Business Banking, FIG Financial Institutions & Government Group;

    Others includes Capital Markets and Commodity Finance

    ` . Mn

    117

    Customer Focused Treasury Products

    Corp18%

    ECG10%

    Retail54%

    BB6%

    FIG4%

    Others8%

    Customer Revenues Mix

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    Well diversified product mix

    Balancing volumes and market

    share with margins and risk

    Home Loans* (Mortgage) offering

    origination (loan sanctions) nowaround ` 8 Bn per month

    Loan losses within product pricing

    parameters

    ` . Bn

    Retail loans are net of loans sold and include loan assignments. Retail loans are classified as per RBI guidelines for segmental reporting (Basel II).

    In arrangement with HDFC Ltd., Others includes Tractor Loans, Loans to Self Help Group, Retail overdrafts, Loans against Se curities, etc

    Indian GAAP figures. Fiscal year ended 31st March; ` - Rupees

    118

    Retail Loans Profitable Growth

    AutoLoans

    BusinessBanking

    CommercialVehicles

    PersonalLoans

    HomeLoans

    Others

    Credit CardsGold Loans

    Two Wheelers

    0

    600

    1,200

    2010 2011 2012

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    0

    35

    70

    2010 2011 2012

    Market leader in credit card (5.6 mn cards as of Mar 12)

    Around 70% of new credit cards issued to internal customers

    Loss rates at cyclical lows in FY2012, well within the range priced in

    Merchant acquiring over 180,000 POS terminals, 44% growth in thru-puts

    Number of Cards Credit Cards Receivables Acquiring Thruputs

    Indian GAAP figures. Fiscal year ended 31 st March. ` - Rupees

    FY 2012 Fiscal year ended 31 st March 2012

    POS Point of Sale

    ` .Bn ` .Bn

    Mn

    119

    Cards Achieving Scale

    0

    11

    22

    2010 2011 2012

    Debit cards Credit cards

    0

    250

    500

    2010 2011 2012

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    0

    13

    26

    2010 2011 2012

    Insurance Premium

    Life General

    0

    600

    1,200

    2010 2011 2012

    Mutual Fund Sales

    Steady performance in a challenging, volatile environment

    New regulation and change in product mix adversely impacted fees

    Relationship managers for private banking and high net worth segments

    Branch sales process to drive distribution of third party products

    Indian GAAP figures. Fiscal year ended 31st March

    ` - Rupees

    20

    Distribution of Third Party Products

    ` .Bn ` .Bn

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    Banking on Rural India

    LocalGovernment

    Self HelpGroups

    FarmersIntermediaries

    (Arhatiyas, traders)

    FoodProcessors

    Individuals

    Pre and Post Harvest Credit

    Tractor Loans

    Kisan Cards

    Small Working Capital Loan

    Regular / No frills savings accounts

    Term / Micro deposits

    Life and General Insurance

    Payment ecosystem

    Banking Services for the rural eco-systemthrough customised loan and deposit

    products whilst maintaining credit standards

    Other banking products

    Liability Products

    Sustainable Livelihood Banking

    Loan Products

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    HDFC Securities Limited

    Amongst the top retail equity brokerages in the country Over 180 branches and 1.4 million customers

    Revenues from brokerage as well as distribution of financial products

    FY 2012 - Net Profit : ` 541 million

    HDB Financial Services

    NBFC catering to certain customer segments not served by the Bank

    Inherently lower cost structure

    Network size of 180 branches

    FY 2012 - Loan book : ` 39,641 million, Net Profit : ` 511 million

    22

    Subsidiary Companies

    ` - Rupees

    FY 2012 Fiscal year ended March 31, 2012

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    Tracking the India Growth StoryMeeting Diverse Customers Needs

    Unique Franchise in the Indian Banking Sector

    Key Business Initiatives

    Financial Highlights

    Value Proposition

    23

    Contents

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    Indian GAAP figures ( ` Mn) , ` - Rupees;

    *On sale and revaluation (mark to market) of investments & includes miscellaneous income

    24

    Key Financials

    ` . In million

    Quarter Ended

    Dec2012

    Quarter Ended

    Dec2011

    Change

    NineMonthsEndedDec 12

    NineMonthsEndedDec 11

    Change

    Year Ended

    Mar 2012

    Net Interest Income 37,988 31,160 21.9% 110,146 89,084 23.6% 122,968

    Fees & Commissions 14,019 11,276 24.3% 37,544 30,382 23.6% 42,755

    FX & Derivatives 2,580 3,656 -29.4% 8,087 8,137 -0.6% 11,388

    Profit / (loss) on Investments* 1,390 (732) 1,104 (1,001) (1,706)

    Net Revenues 55,977 45,360 23.4% 156,881 126,602 23.9% 175,405

    Operating Costs 25,741 21,580 19.3% 75,123 61,230 22.7% 85,901

    Provisions & Contingencies 3,072 3,292 -6.7% 10,874 11,389 -4.5% 14,372

    Tax 8,573 6,191 38.5% 22,520 16,843 33.7% 23,461

    Profit After Tax 18,591 14,297 30.0% 48,364 37,140 30.2% 51,671

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    Net profit up by 30.0% to ` 18.6 Bn

    Gross advances increased by 24.2% to ` 2,432 Bn

    Deposits up by 22.2% to ` 2,841 Bn

    CASA ratio at 45.4%

    Net Interest Margin at 4.1%

    Core Cost-to-income ratio at 47.1%

    Gross NPA / gross advances at 1.0%

    Net NPA / net advances at 0.2%

    Capital adequacy ratio (CAR) - total 17.0% of which tier I at 10.9%

    25

    Indian GAAP figures (Bn =Billion); ` - Rupees

    Net NPA = Gross NPA less specific loan loss provisions

    Comparisons are with respect to corresponding figures for the quarter ended December 31, 2011

    Financial Highlights - Quarter ended December 2012

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    Tracking the India Growth Story

    Meeting Diverse Customers Needs

    Unique Franchise in the Indian Banking Sector

    Key Business InitiativesFinancial Highlights

    Value Proposition

    26

    Contents

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    27

    Value Proposition Healthy Growth, Low Risk

    Healthy balance sheet andrevenue growth

    Leveraging organic andinorganic growth

    opportunities

    Proven ability to generateShareholder Value

    Branch Sales Process,Data Mining & CRM,geared for Cross sell

    Strong Risk management,

    focus on asset quality

    Disciplined margin andcapital management with a

    focus on ROA/ROE

    Nationwide network, withexpanding semi urban and

    rural footprint

    Growing economy /banking industry,

    Gaining market share

    Leading (Top 3) player across multiple products

    Wide Product range and

    multiple customer segment

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    Certain statements are included in this release which contain words or phrases, such as will, aim, believe, expect, will continue, anticipate, estimate, intend, plan, future, objective, project, should, and similar expressions or variations of these expressions, that are forward -looking statements . Actual results may differ materially from thosesuggested by the forward-looking statements due to certain risks or uncertainties associated with our expectations withrespect to, but not limited to, our ability to implement our strategy successfully, the market acceptance of and demand for various banking services, future levels of our non-performing loans, our growth and expansion, the adequacy of our allowance for credit and investment losses, technological changes, volatility in investment income, our ability to market new

    products, cash flow projections, the outcome of any legal, tax or regulatory proceedings in India and in other jurisdictions weare or become a party to, the future impact of new accounting standards, our ability to pay dividends, the impact of changesin banking regulations and other regulatory changes in India and other jurisdictions on us, our ability to roll over our short-term funding sources and our exposure to market and operational risks. By their nature, certain of the market risk disclosures are only estimates and could be materially different from what may actually occur in the future. As a result,actual future gains, losses or impact on net income could materially differ from those that have been estimated. Our forward looking statements speak only as of the date on which they are made and we do not undertake any obligation, and we donot intend, to update or revise any forward looking statements to reflect events or circumstances after the date in thestatement, even if our expectations or any related events or circumstances change. In addition, other factors that could cause actual results to differ materially from those estimated by the forward-looking statements contained in this document include, but are not limited to: general economic and political conditions, instability or uncertainty in India and other countrieswhich have an impact on our business activities or investments caused by any factor including the global financial crisis and

    problems in the Eurozone countries, terrorist attacks in India, the United States or elsewhere, anti-terrorist or other attacks

    by the United States, a United States-led coalition or any other country, tensions between India and Pakistan related to theKashmir region, military armament or social unrest in any part of India, the monetary and interest rate policies of thegovernment of India, natural calamities, inflation, deflation, unanticipated turbulence in interest rates, foreign exchangerates, equity prices or other rates or prices, the performance of the financial markets in India and globally, changes in Indianand foreign laws and regulations, including tax, accounting and banking regulations, changes in competition and the pricing environment in India, and regional or general changes in asset valuations.