Professional Documents
Culture Documents
Presented by :
Aakriti Dhawan- A21 Sumit Nandal- D27 Abhishek Kumar- D38 Utkarsh Jaiswal- D41
The first bank in India, though conservative, was established in 1786. the journey of Indian Banking System can be segregated into three distinct phases.
Phase 1
1786 to 1969
1786 : The General Bank of India Next came Bank of Hindustan and Bengal Bank. The East India Company established Bank of Bengal (1809), Bank of Bombay (1840) and Bank of Madras (1843) as independent units and called it Presidency Banks. These three banks were amalgamated in 1920 and Imperial Bank of India was established which started as private shareholders banks.
Phase 2
In 1955, it nationalised Imperial Bank of India with extensive banking facilities on a large scale specially in rural and semi-urban areas.
It formed State Bank of India to act as the principal agent of RBI 7 Banks formed subsidiary of State Bank of India were nationalised.
Phase 3
This phase has introduced many more products and facilities in the banking sector in its reforms measure. In 1991, under the chairmanship of M Narasimha, a committee was set up by his name which worked for the liberalisation of banking practices.
The country is flooded with foreign banks and their ATM stations.
Efforts were being put to give a satisfactory service to customers. Phone banking and net banking was introduced. The entire system became more convenient and swift. Time was given more importance than money.
UTI BANK
Introduction
Axis Bank (Formerly known as UTI) was one of the few private banks to have began operations in 1994 The Bank was promoted jointly by the Administrator of the specified undertaking of the Unit Trust of India (UTI)
Life Insurance Corporation of India (LIC). General Insurance Corporation Ltd (GIC). National Insurance Company Ltd. The New India Assurance Company. The Oriental Insurance Corporation. United Insurance Company Ltd.
1994-1997
Incorporated as UTI Bank, headquartered in Mumbai First Branch inaugurated at Ahmedabad Completes first profitable year in operation in 1995 Deposit crosses Rs.10bn mark in 1996
1998-2000
Successfully completes its IPO in 1998 and gets itself listed on NSE and BSE Cash management services as well as credit card launched Profit crosses Rs.500m in 2000 Launches Internet banking module, iConnect retail loans introduced Financial advisory services and e-commerce introduced Second largest ATM network in the country with 200 ATMs
2001-2005
Private placement of 26% stake to CDC Capital Partners Deposit crosses Rs.100bn mark in 2001, advances crosses Rs.50bn First commercial bank to open an ATM at a post office Crosses the 1,000 ATM mark in 2003 Gets listed on the London Stock Exchange, raises $239.3m
2006-2008
Opens its first international branch in Singapore Opens Representative Office in Shanghai Crosses the 2,000 ATM mark in 2006 Opens a Full Licence Bank Branch in Hong Kong Re-brands itself as Axis Bank Mumbai, Jul 30 2007 : UTI Bank on Monday rechristened itself as Axis Bank.
PROBLEM
2. The recommendation for name change to Axis Bank has arisen from the existence of several shareholder-unrelated entities using the UTI brand, and the consequent brand confusion that this generates 3. The name UTI bank was changed to AXIS bank as UTI gave a look of government sector bank. They had to change our name to have our own brand and identity.
Rebranding Exercise
"The name was taken into effect consequent to the approval of shareholders, Reserve Bank of India and the central government (Registrar of Companies). The UTI brand is owned by UTI Asset Management Company The bank would change logo and colour of logo the bank is likely to spend around Rs 50 crore in the rebranding exercise. The bank acquired the services of Ogilvy & Mather (O&M) to design and implement the rebranding campaign
The logo depicts a strong growth path for the bank supported by a strong base, indicating that the bank is moving on from a position of strength.
ABOUT AXIS
Mission
Customer Service and Product Innovation tuned to diverse needs of individual and corporate clientele. Continuous technology up gradation while maintaining human values. Progressive globalization and achieving international standards. Efficiency and effectiveness built on ethical practices.
The banks business is divided into four segments: Retail, corporate, treasury and merchant banking. Apart from this the bank is also into insurance, investment banking, mortgage financing, credit cards, and depository services amongst others. it is also registered on the following exchanges:
OTCEI BSE NSE London stock exchange
Services
Retail banking
Deposits schemes Loans and advances
Personal loans Housing loans Cards Consumer durables Auto loans
Personal banking
Accounts
Term deposit Fixed deposit Recurring deposit
Cards
Different variant like: Gold plus card, Gold card, Silver & silver plus cards.
Corporate banking
Accounts
Normal Current Account Trust/NGO Savings Account
Services
Private Equity, Mergers & Acquisitions Advisory Services Capital Market Funding E-Broking
Recent Developments
Shikha Sharma was named as the bank's managing director and CEO on 20 April 2009. The bank now has 835 branches including extension networks across 30 States and 4 Union Territories.
The bank also has overseas offices in Singapore, China, Hong Kong and Dubai. Crosses the 3,723 ATM mark in 2009 Launches Platinum Credit Card, India's first EMV chip based card Axis Bank is now trading at Rs 911.85 (17th sep 2013).
Axis Bank
Marketing Overview
Marketing Objectives
Axis Bank want to achieve following marketing objectives by the end of the year 2014. To get the market capitalization 500 Crore To get the 200 Crore retail investment. To get 125 Crore Corporate investments. To get the 175 Crore Capital investments.
REBRANDING
Has retained the burgundy color, but has changed the logo. Spend around Rs50 Crore in the re-branding exercise.
Maintaining profitability Credit Portfolio Management Service Quality Regional Economy Cost Management / Expense reduction Declining Earnings/ more failures Market / customer focus Capital adequacy Stock market value Industry Overcapacity
Service quality Maintaining profitability Market / customer focus Operations/systems/technology Credit portfolio management Productivity improvement Investment to stay competitive Stock market value Asset/liability management Electronic Banking
SWOT
OPPORTUNITIES: Growing Indian banking sectors. People are becoming more service oriented in the global market. Dissatisfied Customers.
THREATS:
Advent of MNC banks Foreign banks Govt. banks Future market trends.
PRICING MIX
Value for money. Lower fee charged.
PLACE MIX
Making available the promised services to the ultimate users. Selecting a suitable place for bank branches.
Plans to set up 210 more branches across the country in this fiscal.
PROMOTION MIX
Advertising Print media Publicity Sales promotion Personal selling Telemarketing
PROCESS MIX
Flow of activities Standardization Customization Number of steps Simplicity
PHYSICAL EVIDENCE
Internet Paperwork Brochures Furnishings Business cards Tangibles Punch lines Employees dress code
PEOPLE
EMPLOYEES
Positioning strategy
Axis bank has positioned itself as a bank which gives higher standard of services through product innovation for the diverse need of individual & corporate clients. So they want to highlight following points in their positioning statement:
Customer centric Service oriented Product innovation
Axis Bank is SunTecs second banking services client in India, after ICICI Bank.
Services Offered
Atom Technologies, A Subsidiary Of The BSE-listed Financial Technologies (India) Ltd (FTIL), Which Runs The Multi Commodity Exchange Of India Has Innovated A Technology, Which Enables Mobile Payments.
Electronic Clearing Service (ECS Credit) . NEFT. Real Time Gross Settlement (RTGS). EBS (E-Billing Solutions)
TECHNOLOGICAL ADVANCEMENTS
Extensive Network . Centralized Service Desk.
Comprehensive MIS .
Mobile Alert Service.
Information Technology:
Played a vital role in growth of organization To retain a competitive edge, the Bank's technology infrastructure is continuously upgraded Use of technologyfirst among Indian banks in submitting centralised Return for foreign exchange transactions first bank in the India to market EMV chip embedded Debit Platinum, Travel Currency and Credit Platinum cards
New Initiatives
Remittance Card:
A unique product that has changed the way money is sent across borders. Available as a delivery mode for remittances made through the Web Portal www.Remit2India.com. Based on the remitters request, a personalised Remittance Card is prepared for the beneficiary, which is preloaded with the funds remitted to him in INR.
Offers clear authentication of debit and credit payments combined with easy fraud detection. The chip cannot be duplicated, ruling out counterfeiting and skimming. This makes your card safer and secure than any other card in India.
Conclusion !!!!
AXIS bank has differentiated itself very well on the basis of high level service and product quality. They have successfully implemented the change and due to this their market share has increased only despite of tough competition prevails.
Thank You