REGULATION OF STOCK MARKETS PROJECT

INDUSIND BANK
BFM-SEM5
[Type the author name]

2012
NAME : DIVESH D SHETTY ROLL NO : 44 SUBJECT: RSM DATE: 17-AUG-2012

CONTENTS
1 2 3 4 5 6 7 8 9 INTRODUCTION HISTORY OF THE COMPANY SECTOR INFORMATION MANAGEMENT BOARD BALANCESHEET FOR F.Y 2011-12 INCOME STATEMENT FOR F.Y 2011-12 RATIO ANALYSIS 1 YEAR GRAPHICAL PERFORMANCE ANALYSIS OF GRAPH

10 MARKET DATA AS ON 20/07/12 11 DERIVATIVES SEGMENT 12 COMPARISON WITH PEER COMPANIES

INTRODUCTION

The idea behind IndusInd Bank, named after the Indus Valley civilization, was conceived by Mr. Srichand P. Hinduja, the head of the Hinduja Group. One of the first new-generation private banks in India, IndusInd Bank was inaugurated in April 1994, Dr. Manmohan Singh, the present Prime Minister of India, who was then the Finance Minister of the country. It was established with the help of collective contributions from the NRI community, towards the economic and social development of India.

The operations of IndusInd Bank were started with a capital base of Rs. 1,000 million. Of the total 1,000 million, Rs. 600 million was raised through private placements by Indian Residents and Rs. 400 million was contributed by Non-Resident Indians (NRIs). A decade after its establishment i.e. in June 2004, IndusInd Bank was merged with Ashok Leyland Finance Ltd, which was one of the largest leasing finance and hire purchase companies in India, at that time. With this, the bank increased its customer base and geographical penetration.

Branches & ATMs Within a few years of its foundation, IndusInd Bank started climbing the ladder of success and became one of the fastest-growing banks in the Indian banking sector. By 2006, it had expanded its branch network, from 61 in 2004, to 137. Apart from setting up 150 ATM centers of its own, the bank also concluded multilateral arrangements with other banks, taking the total number of authorized ATM outlets to 15,000. All the branches as well as ATMs of IndusInd Bank are connected to its central database, via a satellite that operates on the latest version of IBMs AS400-720 hardware & Midas Kapiti (now Misys) software.

Businesses IndusInd Bank operates in a diverse range of businesses, which include Corporate Banking, Retail Banking, Treasury and Foreign Exchange, Investment Banking, Capital Markets, NonResident Indian (NRI) / High Networth Individual (HNI) Banking and Information Technology (through a subsidiary). It also claims the distinction of being the first bank in India that received ISO 9001:2000 certification for its Corporate Office and its entire network of branches.

Company History - IndusInd Bank

1994 - The bank was incorporated on January and obtained Certificate of Commencement of Business in February 1994. The bank was promoted by IndusInd Enterprises and Finance Ltd. (IEFL) and five Mauritius based companies viz. IndusInd International Holdings Ltd. (IIHL) IndusInd (Mauritius) Holdings Ltd. (IMHL) IndusInd Ltd. (IL) IndusInd Investments Ltd. (IIL) DeFive Mauritius Holdings Ltd. (DFMHL). The bank commenced commercial operation in April. It undertook all kinds of banking business.

- The bank proposed to set up an investment bank as a subidiary of the bank for concentrating on various faces of investment banking viz. issue management, corporate advisory service, infrastructure financing, mergers and acquisitions, trading and depository services etc. It was also proposed to introduce the concept of "investment boutique" at selected branches viz. Ahmedabad, Chennai, Mumbai etc.

- All operating outlets have direct access to Nostro Accounts through sophisticated computerised system "SWIFT". 1995

- 1200,00,000 No. of Equity shares issued.

- The Company joined hands with Kredietbank NV, (KB) - Brussels, Belgium and a Memorandum of Understanding for strategic alliance has been signed with them in order to enhance capability to global standards. - The Bank has made a preferential offer of 2 crores equity shares of Rs. 10 each for cash at a premium of Rs. 40 per share aggregating Rs. 100 crores on private placement basis to the shareholders of the Bank, (other than promoters), shareholders of the promoter companies, and the employees of the Bank and of the promoter companies.

1996

- The Bank has a state-of-the-art dealing room at Nariman Point, Mumbai, catering to several additional positions of dealers and corporate analysts aimed at further enhancing the profitability of its investments.

- The bank caters to the needs of NRI customers from 40 countries with deposits totalling Rs 905 crores.

- 9 branches were added to the network and the number of branches doubled to 18.

1997 - The company issued 400,00,000 No. of equity shares of Rs 10 each for cash at a premium of Rs 35 per share to the public.

- The Company has successfully launched the 'anywhere banking' concept and bank's customers can look at it as 'one Bank'.

- IndusInd Bank has launched Fast Forex to wipe out delays in sending and receiving funds to and from foreign centres. Fast Forex is an international remittance product utilising the 24-hour processing and communication capabilities of SBC Warburg, the bank's USD clearing agent, through their electronic banking system Keylink.

- The bank's shares were admitted for dematerialisation under a tripartite agreement signed by the bank, its registrars, Spectrum Corporate Services, and NSDL.

1998

- IndusInd Bank Ltd has launched its Banking on the Net service on March 24. This facility will serve as an alternate delivery channel that IndusInd Bank offers its customers in addition of branch banking, on-line ATM's and tele-banking. The customer can access Internet access Internet banking facilities not only through the Net but also through dial-up access on a common browser platform.

- IndusInd Bank, has launched its new product, Fast Forex, which can remit funds to any part of the world at the fastest possible speed.

- Bank has introduced net bank a product offering on the internet and the site can be visited on www.indusind.com by any customer who can register for this service.

1999

- The Bank has entered into an agreement with National Securities Clearing Corporation Ltd. of National Stock Exchange (NSE) whereby the Bank will act as official banker to NSE.

- The private sector bank has also introduced a number of technologically superior products--like fast forex, anywhere banking, Internet banking and depository services--through the electronic delivery channels.

2000

- IndusInd Bank signed a memorandum of understanding (MoU) with HSBC for issuing global credit card under the MasterCard franchise to its customers.

- IndusInd Bank Limited has launched its exclusive international remittance system-FAST (Fully Automated Straight Through) Forex.

- IndusInd Bank has appointed Tata Consultancy Services for implementation of the assetliability management (ALM) plan of the bank.

- The Bank has tied up with the cellular company, Orange, for short messaging service facilities for mobile banking in Mumbai.

- The Bank has signed an agreement with Financial Software and Systems for acquisition of the BASE24-ATM switch.

- The Bank has opened its 28th Branch in Surat, Gujarat. - The Bank has launched its global credit card, to be issued in association with the HongKong and Shanghai Banking Corporation Ltd. under the Mastercard franchise.

- IndusInd Bank has launched an e-broking platform, eTrading, at its Mumbai main branch to facilitate online trading of equity shares.

- Kothari Pioneer Mutual Fund and IndusInd Bank have joined hands to enter into an alliance.

2001 - The Bank has entered into a strategic alliance with Sri Lanka-based National Mercantile Bank.

2002

- IndusInd Bank Ltd has informed that the Board of Directors have appointed Mr S Venkitramanan as Additional Director and Non-executive Chairman subject to approval of Reserve Bank of India.

2003 -IndusInd Bank gets RBI permission to set up offices abroad.

-Bank secures ISO 9001:2000 certification for all its branches in the 10th year of its operations.

-IndusInd hires KPMG Consulting for assisting the bank to develop an enterprise wide risk management framework to cover risks across all function streams.

-Shareholders approved delisting of shares from Pune Stock Exchange

-IndusInd, Corp Bank sign agreement for sharing of ATMs

-IndusInd Bank Board approves scheme of merger of Ashok Leyland Finance.

2004

-IndusInd Bank Ltd has informed that the Bank has received approval for delisting of its shares from Pune Stock Exchange (PSE) with effect from January 16, 2004.

-IndusInd Bank on April 30 launched Indus AIM (anywhere instant money) for inter-bank real time gross settlement (RTGS) transactions.

-IndusInd Bank Ltd has accepted the resignation of Mr. Gopal Lohiya, Company Secretary of the Bank with effect from July 5, 2004

-Nagarajan selected as IndusInd Joint MD

-IndusInd Bank has offered personal loans for the salary account holders at Global Trust Bank (GTB)

-IndusInd Bank inks pact with DDA

2005

-IndusInd Bank opens its 11th branch in Gujarat at Bhavnagar

-Morvi Royal Family launches Indusind International Mahila Card in Gujarat

-IndusInd Bank sets up new branch at Malappuram

-Indusind Bank opens Branch at Trichy

2006

-Indusind Bank Ltd has announced that Doha Bank, Qatar and the Bank, India announced their strategic alliance in Doha

-IndusInd joins hand with 2 Gulf banks

- Indusind Bank Ltd has informed that the Board of Directors of the Bank at its meeting held on October 31, 2006 has appointed Mr Ajay Hinduja and Mr Premchand Godha as Additional Directors of the Bank, subject to the approval of Reserve Bank of India.

2007

-On January 16, 2007 Aviva Life Insurance and Indusind Bank Ltd has announced their tie-up as Bancassurance partners.

- Indusind Bank Ltd has appointed Mr. R Seshasayee has been appointed, with the approval of Reserve Bank of India, Part-time Non-Executive Chairman of the Bank for a period of two years.

-Indusind Bank Ltd has appointed Mr. R Seshasayee as the Non-Executive Chairman for a period of two years.

-Indusind Bank opens its 19th branch in Tamil Nadu at Sivakasi.

-Cholamandalam MS enters into a strategic partnership with IndusInd Bank

2008

- Indusind Bank Ltd has tied up with TVS Motors

-IndusInd Bank signs Rs 150-cr deal with SKS Micro

-IndusInd Bank signs co-partner agreement with World Gold Council

2009

-lndusind Bank launches "new look branch model" at Bandra

-IndusInd Bank signs MoU with ICRA

-IndusInd Bank inaugurates its first Solar-powered ATM in Mumbai

-Indusind Bank Ties Up With Maruti Suzuki India Ltd

Products & Services

IndusInd Bank provides multi-channel facilities, which comprise of ATMs, Net Banking, Mobile Banking, Phone Banking, Multi-city Banking and International Debit Cards. It is also credited for being one of the first banks to become a part of RBIs Real Time Gross Settlement (RTGS) system. Enlisting the help of KPMG, IndusInd Bank has adopted an enterprise-wide risk management system, including global best practices in the area of Risk Management. The other products and services offered by the bank include:

Personal Banking Accounts Deposits Loans Cards - Debit Card, Credit Card, Gold Debit Card, Indus Money Indus Protect Wealth Management Services Portfolio Management Investments Insurance Corporate Banking Fund Based Facilities Non Fund Based Facilities Value Added Facilities Supply Chain Management International Banking Correspondent Banking

SWIFT Rupee Drawing Arrangement R Advisory Services A Facilities to Exporters Trade Finance RFC Account for Residents R Gold Banking Remittance Services Suvarna Mudra Others Investment Banking Treasury NRI Services Online Banking RTGS/ NEFT

The Indian Banking Sector

An Overview Origin:18th Century Pioneers: The General Bank of India, The Bank of Hindustan Governing body: The Reserve Bank of India. Nationalization Liberalization India Unique geographic, social and economic characteristics. High levels of illiteracy, also large reservoir of technologically advanced talents. Mixed Economy 30 to 35% population in cities rest in semi-urban and rural areas. These features have left the Indian banking sector with weaknesses and strengths. A big challenge facing Indian banks is how, under the current ownership structure, to attain operational efficiency suitable for modern financial intermediation. Structure 1. Commercial banks a. Public sector i. State Bank Group ii. Nationalized Banks iii. Regional Rural Banks b. Private sector c. Foreign banks d. Cooperative institutions

(i) Urban cooperative banks (ii) State cooperative banks (iii) Central cooperative banks Contribution & Significance 6.2% GDP Serve the goals of economic policies Significant role in creating better employment Support to other economic sectors like agriculture, SSIs etc

MANAGEMENT BOARD
Board of Directors:
Mr. R. Seshasayee - Chairman Mr. R. Seshasayee, a Chartered Accountant, has been Managing Director of Ashok Leyland Ltd. since 1998 and is now the Executive Vice Chairman of Ashok Leyland effective from 1.4.2011. He had held Directorship of ICICI Bank Ltd. from May 6, 1997 to October 31, 2003. During that tenure, he also held the position of Chairman of the Audit Committee of the Board. Mr. Seshasayee has also been member of various Committees of the Society of Indian Automobile Industries. Mr. Seshasayee is Past President of the Confederation of Indian Industry.

Dr. T. T. Ram Mohan Dr. Ram Mohan is professor for finance and accounting at IIM Ahmedabad. He studied at IIT Bombay and IIM Calcutta and obtained his doctorate from Stern School of Business, NYU. He worked extensively in consultancy and in the financial sector before entering academics. He has been Divl. Manager with Tata Economic Consultancy Services, Head of Strategy at Standard Chartered Bank and Vice President with Bear Stearns Asia Ltd. (HK). At IIMA, Prof Ram Mohan specialises in the financial sector. His current research interests include banking sector reforms, privatisation and corporate governance. He has run training programmes for executives and presented papers at conferences in India and abroad, published papers and authored three books, including one on financial regulation. For past 9 years, he has been writing a fortnightly column for The Economic Times. He was visiting faculty at Stern School of Business, NYU in 2001. He has served on RBI Committees and is on boards of several companies.

Mr. Ajay Hinduja Mr. Ajay Hinduja holds a degree in Economics from the University of Geneva with specialisation in finance. Mr. Ajay Hinduja has done internship for five years with international organisations including Society De Banque Suisse, Morgan Stanley and M & M Ferrous. He has experience in the international banking arena, having been Director and Member of the Management Committee of Amas Bank (Switzerland) Ltd. since 1996 and having been on the Board since 2004.

Mr. S. C. Tripathi Mr. Sushil Chandra Tripathi, M.Sc. (Physics- Spl. Electronics), Diploma in Development (Cantab.), AIMA Diploma in Management, started his career as Lecturer in Physics in 1964 and joined the Indian Administrative Service in 1968 (Second Rank in the country). He spent nearly 20 years in Finance and Industry sectors at Chief Executive / Secretary levels at the State and Central Government and in representative capacity at international levels. Mr. Tripathi retired as Secretary, Ministry of Petroleum and Natural Gas in the Government of India in December 2005.

Mr. Ashok Kini Mr. Ashok Kini, a career banker in State Bank of India, retired as Managing Director on December 31, 2005 after 37 years service in the Bank. During his tenure with State Bank of India, Mr. Kini had extensive exposure to the Banks lending activities in the Retail, SSI, Agricultural and Industrial Finance segments and to Information Technology. Mr. Kini is a member of the Boards of Directors of UTI Asset Management Company, Gulf Oil Corporation Ltd. and Financial Information Network & Operations Ltd.

Mrs. Kanchan Chitale Mrs. Chitale was Senior Finance Manager at SICOM before she set up her own professional practice as Chartered Accountant. At SICOM, she handled various functions including Project Assessment/Appraisal and Accounts. She managed the Legal and Company Secretarial functions and operations of the newly set up State Government Corporation MOPEC while on deputation from SICOM during 1982-83. She also handled the overseas project assignment in Baghdad in 1982. In practice for nearly 20 years, her main functional areas include Internal and Management Audits of corporates and specialized / concurrent audits of commercial banks and financial institutions. Mrs. Chitale has had extensive Internal Audit exposure as Associate Director of M/s M. P. Chitale & Co., a leading accounting firm in India associated with big corporate names in infrastructure/ construction and in banking industries. She has contributed articles and given talks on professional topics at seminars and conferences.

Mr. Vijay Vaid Mr. Vijay Vaid is a graduate from Bombay University having practical experience of almost 36 years in all areas of rubber component manufacturing. Starting with a proprietary firm, he ventured out to establish Vaid Elastomer Processors Limited, which is one of the leading manufacturers of auto rubber components and employs more than 500 persons.

He was a member of Executive Committee of Automotive Component Manufacturers Association (ACMA).

He is Chairman Trustee of two charitable trusts Shri Venkteshwar Nidhi & Vaid Foundation, which are actively involved in providing education and medical relief to the needy. From the day of inception, more than 206 students and 7990 patients have benefited.

Mr. R. S. Sharma Mr. R. S. Sharma, a Fellow Member of the Institute of Cost & Works Accountants of India and an Associate Member of the Indian Institute of Bankers, has participated in various management programmes in India and overseas.

Mr. Sharma is a former Chairman and Managing Director of Oil and Natural Gas Corporation Ltd. (ONGC). He was also concurrently the Chairman of ONGC Videsh Ltd. (OVL), Mangalore Refinery & Petrochemicals Ltd. (MRPL) and five other ONGC Group companies.

Mr. Sharma was associated with various industry associations and federation houses in responsible capacities. He continues to hold the position of Chairman of the FICCI Hydrocarbon Committee. An Honorary Fellow of Institute of Directors (IOD), All India Management Association (AIMA) AND Project Management Association of India (PMA), Mr. R S Sharma had led ONGC and Group companies to a high level of corporate excellence. Mr. Sharma was also conferred with several prestigious awards such as, CNBC TV18 CFO Award in 2005, 2006 and 2007; Amity Corporate Leadership Award in 2009; CII Outstanding performance Award in 2010; ICONOCLAST CEO Award in 2010 and Star Lifetime Achievement Award for HR Leadership in February 2011.

Mr. Romesh Sobti Managing Director Mr. Romesh Sobti has joined the Bank as Managing Director & CEO, taking charge from Mr. Bhaskar Ghose. Prior to this assignment, Mr. Sobti was the Executive Vice President Country Executive, India and Head, UAE and Sub-Continent, at ABN AMRO Bank N.V. He joined ABN AMRO in November 1990 and graduated from the position of a Chief Manager to the Country Executive over a period of 18 years. In his banking career spanning 33 years, Mr. Sobti has been associated with ANZ Grindlays Bank Plc (now Standard Chartered Bank) and State Bank of India in the past. He holds a Bachelors Degree (Honours) in Electrical Engineering and has also done his Diploma in Corporate Laws and Practice and Secretarial Practice.

Mr. Y. M. Kale Alternate Director Mr. Y. M. Kale, FCA (England & Wales) & FCA (India), was President of the Institute of Chartered Accountants of India (ICAI) during 1995 to 1996 and Chairman of ICAIs Accounting Standards Board as well as Audit Practices Committee in earlier years, having been on the apex ICAI Council for 16 years (1982 to 1998). During 1995-98, Mr. Kale was the India Representative in the Board of International Accounting Standards. Since 2002, Mr. Kale is Group President, Corporate Governance & Development in Hinduja Group India Ltd. and a Director in several Group Companies. RBI had appointed him Member of the Group for introduction of Concurrent Audit of banks and Member of DBOD Working Group on Revised Formats for Published Accounts of Banks. He has also served on many Committees constituted by SEBI and by the Government of India. He was also Chairman of a Committee for setting Accounting Norms for trading members of the National Stock Exchange.

BALANCESHEET FOR F.Y 2011-12

IndusInd Bank

Balance Sheet

------------------- in Rs. Cr. ------------------Mar '12 Mar '11

12 mnths Capital and Liabilities: Total Share Capital Equity Share Capital Share Application Money Preference Share Capital Reserves Revaluation Reserves Net Worth Deposits Borrowings Total Debt 467.7 467.7 10.95 0 4,043.72 219.34 4,741.71 42,361.55 8,682.01 51,043.56

12mnth

465.97 465.97 7.98 0 3,350.92 225.35 4,050.22 34,365.37 5,525.42 39,890.79

Other Liabilities & Provisions Total Liabilities

1,810.80 57,596.07

1,694.83 45,635.84

Assets Cash & Balances with RBI Balance with Banks, Money at Call Advances Investments Gross Block Accumulated Depreciation Net Block Capital Work In Progress Other Assets Total Assets 2,903.58 2,636.05 35,063.95 14,571.95 1,082.79 468.7 614.09 42.7 1,763.75 57,596.07 2,456.04 1,568.56 26,165.65 13,550.81 971.26 399.2 572.06 24.41 1,298.32 45,635.85

Contingent Liabilities Bills for collection Book Value (Rs)

99,523.54 9,817.74 96.5

79,647.25 7,860.30 81.95

INCOME STATEMENT FOR F.Y 2011-12

IndusInd Bank

Profit & Loss account

------------------- in Rs. Cr. -----------------Mar '12 Mar '11

12 mths 12 mths

Income Interest Earned Other Income Total Income Expenditure Interest expended Employee Cost Selling and Admin Expenses Depreciation Miscellaneous Expenses Preoperative Exp Capitalised Operating Expenses Provisions & Contingencies Total Expenses

5,359.19 1,011.78 6,370.97 3,654.95 485.47 434.62 74.96 918.37 0 1,485.58 427.84 5,568.37

3,589.36 713.66 4,303.02 2,212.86 382.65 390.46 60.55 679.17 0 1,169.72 343.11 3,725.69

Mar '11 12 mths Net Profit for the Year Extraordionary Items Profit brought forward Total Preference Dividend Equity Dividend Corporate Dividend Tax Per share data (annualised) Earning Per Share (Rs) Equity Dividend (%) Book Value (Rs) Appropriations Transfer to Statutory Reserves Transfer to Other Reserves Proposed Dividend/Transfer to Govt Balance c/f to Balance Sheet Total 802.61 0 714.36 1,516.97 0 102.89 16.69 17.17 22 96.5 209.8 0 119.58 1,187.59 1,516.97 12 mths 577.33 0 391.51 968.84 0

12.39 20 81.95 146.12 0.01 108.35 714.36 968.84

RATIO ANALYSIS

MAR 12 RATIOS CURRENT RATIO DEBT- EQUITY RATIO P/E RATIO RETURN ON EQUITY EPS 0.97 9.39 19.36 17.79 17.17

MAR 11

0.76 9.00 18.14 15.12 12.39

1 YEAR GRAPHICAL PERFORMANCE

Performance of IndusInd Bank Ltd. in terms of appreciation

Period

One Week

Two Week

One Month

Six Three Month Month

One Year

Period Old Price

327.3

334.15

337.05

310.6

321.95

254.9

Price Gain

5.7

-1.15

-4.05

22.4

11.05

78.1

Gain in %

1.74

-0.34

-1.2

7.21

3.43

30.64

DERIVATIVES SEGMENT
Currency Derivatives
Reserve Bank of India (RBI) vide circular dated August 06, 2008 has introduced trading in currency futures in India. As per RBI and SEBI notifications, members of recognized stock exchanges offering these products can offer these currency futures to their customers. RBI, SEBI and Exchanges guidelines govern the Banks participating in the currency futures segment. IndusInd Bank Ltd. is the clearing cum trading member with exchanges - NSE and MCX-SX. As of now we allow trading in currency futures on the NSE platform How it works

This is a margin based product. Bank will be collecting the margin money as collateral in advance/up-front from all the customers eligible for trading in currency futures with the exchanges. Collection of client margin is mandatory and daily reporting is required to be done to the Exchanges by the trading member. Mark-to-market (MTM) loss or gain is debited or credited to the customers Current Account/Savings Account (CASA account) on daily basis.

The client can keep initial margin in the form of Cash and/or Fixed Deposit as collaterals towards margin for trading or taking exposures in the currency futures segment. Fixed Deposit has to be made with IndusInd Bank sourcing branch only. The MTM margin has to be always maintained in cash as it is settled with the respective exchanges on daily basis in cash. For Individual Clients the amount proposed is Rs.100,000 and for the corporate clients the amount proposed is Rs.500,000. The limit provided for trading is 80% of the available collaterals.

For trading, the customers have the option to choose Online and offline mode. Online Trading is arranged through Trading Platform provided by Respective Exchanges.

Offline Trading, clients can do call and trade with IBL Dealing Room. As this is the order driven market, price being determined by the underlying spot market it is advisable to do on line trading only. The clients will have to convincingly establish the customer identity to the dealers.

Business Rules

Guidelines issued by Reserve Bank of India and SEBI on Know Your Customer (KYC) and In Person Verification requires intensive due diligence at the time of establishing relationship. Exchange & Clearing Corporation rules and guidelines on Membership Compliances, Margin, MTM Settlement, Collateral Management and internal audit. NISM Certification is a MUST for following Staff at Branches and at Corporate Offices. Sale Representative at Branches. CDS Operational Staff. Dealers Executing Trades on behalf of the clients. The broad product features are as per the following: Resident Indians can trade in the currency pairs of USD-INR, EUR-INR, GBP-INR and JPYINR It is a margin based product and the initial margin requirement is Rs.100000/- for individuals and Rs.500000/- for non-individuals. All contracts are of month-end maturity (1 month, 2months up to 12 months), the contract is known by its expiry date with a lot size of 1000/unit can be traded. In case of JPY/INR the lot size is 100000 units and quote is per 100 Yen All open contracts are Marked to Market (MTM) at settlement price by the exchanges at end of day. MTM profit/loss will be settled with customer on a daily basis Currency Futures as an asset class is considered as a moderate risk and high yielding portfolio given the two way volatility No requirement of underlying documents for trading in this product Fully regulated and transparent market place Counter party default risk eliminated due to participation of clearing corporation of the respective exchanges Narrow Bid-Ask spread on regular basi

COMPARISON WITH PEER COMPANIES

IndusInd Bank Ltd. vs Canara Bank

Report cardAttribute Value PE ratio EPS (Rs) Sales (Rs crore) Face Value (Rs) Net profit margin (%) Last dividend (%) Return on average equity

Date 19.36 14/08/2012 17.16 Mar, 12

Report cardAttribute Value Date PE ratio EPS (Rs) Sales (Rs crore) Face Value (Rs) Net profit margin (%) Last dividend (%) 4.83 14/08/2012 74.1 Mar, 12 8,472.86 Jun, 12 10 9.76 Mar, 12 110 10/05/2012

1,632.04 Jun, 12 10 12.59 Mar, 12 22 19/04/2012 17.79 Mar, 12

Return on average equity 15.91 Mar, 12