AXIS-ENAM MERGER PDF

Axis Bank, which will hold 30 per cent stake in Max Life, said it will be a cash transaction and will take months to materialise, subject to regulatory approvals. Axis Bank managing director and chief executive Amitabh Chaudhry said the bank has studied the market but has not found a perfect match yet. The bank is maintaining a standard asset provisioning of 1 percentage point for bad loans in such sectors, as against the regulatory provision of 0. Govt has taken a measured response to the economic situation, choosing very carefully what they do. State Bank of India saw its slippages — new bad loans — almost double sequentially to Rs 16, crore. Likewise, Axis Bank recognised slippages of Rs 6, crore in the December quarter.

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Axis Bank, which will hold 30 per cent stake in Max Life, said it will be a cash transaction and will take months to materialise, subject to regulatory approvals. Axis Bank managing director and chief executive Amitabh Chaudhry said the bank has studied the market but has not found a perfect match yet.

The bank is maintaining a standard asset provisioning of 1 percentage point for bad loans in such sectors, as against the regulatory provision of 0. Govt has taken a measured response to the economic situation, choosing very carefully what they do. State Bank of India saw its slippages — new bad loans — almost double sequentially to Rs 16, crore. Likewise, Axis Bank recognised slippages of Rs 6, crore in the December quarter.

Kotak Mahindra Bank put new additions in bad loans at Rs 1, crore in the third quarter. If you are going to beat inflation in India, you have to be in equities, not fixed income, says Chokhani.

All rights reserved. For reprint rights: Times Syndication Service. Have you read these stories? Tensions are flaring as governments from US. More jobs on the line at Cognizant? Cheque No. Investments of up to 15, crore likely in phone manufacturing in next 2 years. Brand Solutions. TomorrowMakers Let's get smarter about money. ET NOW. ET Portfolio. Nirmala Sitharaman lays out roadmap for better governance of PSU banks The finance minister also announced that banks can now recruit Chief R Buy largecap banks, be agnostic to valuation: Sridhar Sivaram, Enam Holdings In six months, base effect will start kicking in for revival in All News Videos Photos.

Axis Bank evaluating the acquisition route to scale up microfinance business 11 Dec, , Axis Bank more than doubles loan provisions for troubled sectors 01 Dec, , PSU bank mergers: Is it actually good news for shareholders?

Banks get no respite as Q3 slippages rise 10 Feb, , Global set-up is very scary, Indian market is expensive but I am fully invested: Manish Chokhani, Enam 20 May, , Bank merger: Will there be a new name, too?

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Axis Bank board approves Enam Securities merger

The deal size stands close to INR Brief contours of the deal Axis Bank will set up a wholly owned subsidiary to which Enam Securities will demerge its investment banking, institutional equities, retail equities and financial product distribution NBFC businesses. The bank will demerge its investment banking business into the subsidiary. Swap ratio announced is 5. What is in it for Axis Bank Strategic objective is to harp upon synergies between the two entities across products, relationships and geographies.

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Axis buys Enam Sec in Rs 2,067-cr deal

India's No. The move comes after the RBI approved the revised deal structure, under which Axis Bank will issue The structure, announced on Friday, broadly retains the original deal contours, but now involves a cash payout to Axis Bank from its own unit for transferring Enam's businesses. The Reserve Bank of India, in April, had given an in-principle approval to the deal but had asked the bank to revise its scheme of accounting and eventual structure for the new business. It had also stipulated that no shareholder of Enam Securities acquiring shares of Axis Bank under the scheme of arrangement would be eligible for being a director on the board of the lender.

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