ALM Synopsis

8/6/2019 ALM Synopsis

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A STUDY ON THE ASSET LIABILITYMANAGEMENT PROCESS CONDUCTED AT

CANARA BANK

BANGALORE Submitted In Partial Fulfillment Of theRequirements

Of the Two Year Post Graduate Programme In

Business Administration

By

Ms. Anjana Unnikrishnan

Under the guidance of:

Prof. Ravindra V.N.

MOUNT CARMEL INSTITUTE OF MANAGEMENT

BANGALORE -560052

2009-10


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SYNOPSIS

TITLE OF THE PROJECT

A STUDY ON THE ASSET LIABILITY MANAGEMENT

PROCESS CONDUCTED AT CANARA BANK, BANGALORE

INTRODUCTION

A balance sheet is a financial report that shows the value of a company's

assets, liabilities, and owner's equity at a specific period of time, usually at

the end of an accounting period, such as a quarter or a year. An asset is

anything that can be sold for value. A liability is an obligation that must

eventually be paid, and, hence, it is a claim on assets. The owner's equity in

a bank is often referred to as bank capital, which is what is left when all

assets have been sold and all liabilities have been paid. The relationship of

the assets, liabilities, and owner's equity of a bank is shown by the

following equation

Bank Assets = Bank Liabilities + Bank Capital

A bank uses liabilities to buy assets, which earns its income. By using

liabilities, such as deposits or borrowings to finance assets such as loans to

individuals or businesses, or to buy interest earning securities, the owners

of the bank can leverage their bank capital to earn much more than would

otherwise be possible using only the bank's capital.

Asset and liability management is the practice of managing risks that arise due

to mismatches between the assets and liabilities (debts and assets) of the bank.

Banks face several risks such as the liquidity risk, interest rate risk, credit risk


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Asset Liability Management process is undertaken to know the banks

efficiency in managing the assets and liabilities .

TOOLS AND TECHNIQUE USED

Primary data will be collected by using an interview schedule to

obtain clarification from concerned officials.

Secondary data comprises of data which will be collected from

various books, reports and manuals generated by the company.

SCOPE OF THE STUDY

This study was conducted at Canara Bank, Vasanth nagar ,with specific

reference to Bangalore to analyze the cost benefit analysis of use of technology

in banking operation.

OBJECTIVES OF THE STUDY

To study the components of assets and liabilities.

To study the factors affecting the assets and liabilities.

To study the process adopted to manage assets and liabilities.

To study the financial implication of managing assets and

liabilities.

To offer solutions to better manage Assets and Liabilities.


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METHODOLOGY

The present study is a descriptive study where the data was collected mainlythrough secondary data. Seconadary data was collected from the reports,

internet, magazines journals, books and brochure generated by the bank.

Primary data will be collected by using an interview schedule to obtain

clarification from concerned officials.

PLAN OF ANALYSIS

The data collected will be presented in the tabular form and wherever necessary

graph will be made. Data analysis and interpretation is done on the data

collected. Inference is drawn to attain the objective of the study. Summary of

findings is received based on data collected.

OVERVIEW OF CHAPTER

o Chapter 1 Introduction

The theoretical aspects of the study with detailed relevance to the serve

as introductory chapter.

o Chapter 2 Design of the study:

This chapter will include introduction, statement of review, objective of

the study, methodology, tools and technique used, plan of analysis and

limitation.


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Chapter 3 Profile of the company

This chapter contains history of Canara Bank, its objective, vision,

mission and strategy of the bank and also the various schemes and

services provided by the bank.

Chapter 4 Analysis and interpretation of data

This chapter contains the analysis of data that was collected through the

secondary data.

Chapter 5 Summary of findings

It contains the summary of findings, conclusions and also

recommendations to the study.


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CHAPTER- 1

INTRODUCTION


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INTRODUCTION TO BANK

A Bank is a financial institution that accepts deposits and channels those

deposits into lending activities. The Banks primarily provide financial services

to customers while the main goal is enriching investors. Government

restrictions on financial activities by Banks vary over time and location. Banks

are important players in financial markets and offer services such as investment

funds and loans. In some countries such as Germany, Banks have historically

owned major stakes in industrial corporations while in other countries such as

the United States Banks are prohibited from owning non-financial companies.

In Japan, Banks are usually the nexus of a cross-share holding entity known as

the keiretsu. In France, Bancassurance is prevalent, as most Banks offer

insurance services to their clients. The level of government regulation of the

Banking industry varies widely, with countries such as Iceland, having

relatively light regulation of the Banking sector, and countries such as China

having a wide variety of regulations but no systematic process that can be

followed typical of a communist system. The oldest Bank still in existence is


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Monte dei Paschi di Siena, headquartered in Siena, Italy, which has been

operating continuously since 1472.

EVOLUTION OF BANKING INSTITUTION:

Origin of the word Bank:

According to some authorities,the word Bank itself is derived from the word

Bancus or Banque, that is, a bench. The early Bankers,the Jews in

Lombardy,transacted their business on benches in the market place. There are

others who are of the opinion that the word Bank is originaly derived from the

German word Back meaning a joint stock fund,which was Italianised into

Banco,when the Germans were masters of a great part of Italy. This appears

to be more possible. But whatever be the origin of the word Bank, it would trace

the history of Banking in Europe from the middle ages.

The first Banks were probably the religious temples of the ancient world, and

were probably established sometime during the third millennium B.C. Banks

probably predated the invention of money. Deposits initially consisted of grain

and later other goods including cattle, agricultural implements, and eventually

precious metals such as gold, in the form of easy-to-carry compressed plates.

Temples and palaces were the safest places to store gold as they were constantly

attended and well built. As sacred places, temples presented an extra deterrent

to would-be thieves. There are extant records of loans from the 18th century BC


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in Babylon that were made by temple priests/monks to merchants. By the time

of Hammurabi's Code, Banking was well enough developed to justify the

promulgation of laws governing Banking operations.Ancient Greece holds

further evidence of Banking. Greek temples, as well as private and civic

entities, conducted financial transactions such as loans, deposits, currency

exchange, and validation of coinage. There is evidence too of credit, whereby in

return for a payment from a client, a moneylender in one Greek port would

write a credit note for the client who could "cash" the note in another city,

saving the client the danger of carting coinage with him on his journey. Ancient

Rome perfected the administrative aspect of Banking and saw greater regulation

of financial institutions and financial practices. Charging interest on loans and

paying interest on deposits became more highly developed and competitive. The

development of Roman Banks was limited, however, by the Roman preference

for cash transactions. During the 3rd century AD, Banks in Persia and other

territories in the Persian Sassanid Empire issued letters of credit known as

akks.

Muslim traders are known to have used the cheque orakk system since the

time of Harun al-Rashid (9th century) of the Abbasid Caliphate. In the 9th

century, a Muslim businessman could cash an early form of the cheque in China

drawn on sources in Baghdad,a tradition that was significantly strengthened in

the 13th and 14th centuries, during the Mongol Empire. Indeed, fragments


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found in the Cairo Geniza indicate that in the 12th century cheques remarkably

similar to our own were in use, only smaller to save costs on the paper. They

contain a sum to be paid and then the order "May so and so pay the bearer such

and such an amount". The date and name of the issuer are also apparent.

Medieval trade fairs, such as the one in Hamburg, contributed to the growth of

Banking in a curious way: moneychangers issued documents redeemable at

other fairs, in exchange for hard currency. These documents could be cashed at

another fair in a different country or at a future fair in the same location. If

redeemable at a future date, they would often be discounted by an amount

comparable to a rate of interest. Eventually, these documents evolved into bills

of exchange, which could be redeemed at any office of the issuing Banker.

Modern Western economic and financial history is usually traced back to the

coffee houses of London. The London Royal Exchange was established in 1565.

At that time moneychangers were already called Bankers, though the term

"Bank" usually referred to their offices, and did not carry the meaning it does

today. There was also a hierarchical order among professionals; at the top were

the Bankers who did business with heads of state, next were the city exchanges,

and at the bottom were the pawn shops or "Lombard".

HISTORY OF BANKING IN INDIA


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Without a sound and effective Banking system in India it cannot

have a healthy economy. The Banking system of India should

not only be hassle free but it should be able to meet new

challenges posed by the technology and any other external and

internal factors.

For the past three decades India's Banking system has several

outstanding achievements to its credit. The most striking is its

extensive reach. It is no longer confined to only metropolitans

or cosmopolitans in India. In fact, Indian Banking system has

reached even to the remote corners of the country. This is one

of the main reasons of India's growth process.

The government's regular policy for Indian Bank since 1969 has

paid rich dividends with the nationalization of 14 major private

Banks of India.

Not long ago, an account holder had to wait for hours at the

Bank counters for getting a draft or for withdrawing his own

money. Today, he has a choice. Gone are days when the most

efficient Bank transferred money from one branch to other in

two days. Now it is simple as instant messaging or dials a pizza.


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Money has become the order of the day.

The first Bank in India, though conservative, was established in

1786. From 1786 till today, the journey of Indian Banking

System can be segregated into three distinct phases. They are

as mentioned below:

Early phase from 1786 to 1969 of Indian Banks

Nationalization of Indian Banks and up to 1991 prior to

Indian Banking sector Reforms.

New phase of Indian Banking System with the advent of

Indian financial & Banking Sector Reforms after 1991.

Phase1

The General Bank of India was set up in the year 1786. 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,

mostly European shareholders.

In 1865 Allahabad Bank was established and first time


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exclusively by Indians, Punjab National Bank Ltd. was set up

in 1894 with headquarters at Lahore. Between 1906 and

1913, Bank of India, Central Bank of India, Bank of Baroda,

Canara Bank, Indian Bank, and Bank of Mysore were set up.

Reserve Bank of India came in 1935.

During the first phase the growth was very slow and Banks

also experienced periodic failures between 1913 and 1948.

There were approximately 1100 Banks, mostly small. To

streamline the functioning and activities of commercial

Banks, the Government of India came up with The Banking

Companies Act, 1949 which was later changed to Banking

Regulation Act 1949 as per amending Act of 1965 (Act No.

23 of 1965). Reserve Bank of India was vested with

extensive powers for the supervision of Banking in India as

the Central Banking Authority.

During those days public has lesser confidence in the Banks.

As an aftermath deposit mobilization was slow. Abreast of it

the savings Bank facility provided by the Postal department

was comparatively safer. Moreover, funds were largely given


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to traders.

Phase2

Government took major steps in this Indian Banking Sector

Reform after independence. In 1955, it nationalized Imperial

Bank of India with extensive Banking facilities on a large

scale especially in rural and semi-urban areas. It formed

State Bank of India to act as the principal agent of RBI and to

handle Banking transactions of the Union and State

Governments all over the country.

Seven Banks forming subsidiary of State Bank of India was

nationalized in 1960 on 19th July, 1969, major process of

nationalization was carried out. It was the effort of the then

Prime Minister of India, Mrs. Indira Gandhi. 14 major

commercial Banks in the country were nationalized.

Second phase of nationalization Indian Banking Sector

Reform was carried out in 1980 with seven more Banks. This

step brought 80% of the Banking segment in India under

Government ownership.


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The following are the steps taken by the Government of India

to Regulate Banking Institutions in the Country:

1949: Enactment of Banking Regulation Act.

1955: Nationalization of State Bank of India.

1959: Nationalization of SBI subsidiaries.

1961: Insurance cover extended to deposits.

1969: Nationalization of 14 major Banks.

1971: Creation of credit guarantee corporation.

1975: Creation of regional rural Banks.

1980: Nationalization of seven Banks with deposits over

200 crore.

After the nationalization of Banks, the branches of the public sector Bank India

rose to approximately 800% in deposits and advances took a huge jump by

11,000%.

Banking in the sunshine of Government ownership gave the public implicit faith

and immense confidence about the sustainability of these institutions.

Phase III

This phase has introduced many more products and facilities in the Banking

sector in its reforms measure. In 1991, under the chairmanship of M


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Narasimham, a committee was set up by his name which worked for the

liberalization of Banking practices.

The country is flooded with foreign Banks and their ATM stations. Efforts are

being put to give a satisfactory service to customers. Phone Banking and net

Banking is introduced. The entire system became more convenient and swift.

Time is given more importance than money.

The financial system of India has shown a great deal of resilience. It is sheltered

from any crisis triggered by any external macroeconomics shock as other East

Asian Countries suffered. This is all due to a flexible exchange rate regime, the

foreign reserves are high, the capital account is not yet fully convertible, and

Banks and their customers have limited foreign exchange exposure.

Banking in India originated in the last decades of the 18th century. The oldest

Bank in existence in India is the State Bank of India, a government-owned Bank

that traces its origins back to June 1806 and that is the largest commercial Bank

in the country. Central Banking is the responsibility of the Reserve Bank of

India, which in 1935 formally took over these responsibilities from the then

Imperial Bank of India, relegating it to commercial Banking functions. After

India's independence in 1947, the Reserve Bank was nationalized and given


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broader powers. In 1969 the government nationalized the 14 largest commercial

Banks; the government nationalized the six next largest in 1980.

Currently, India has 96 scheduled commercial Banks (SCBs) - 27 public sector

Banks (that is with the Government of India holding a stake), 31 private Banks

(these do not have government stake; they may be publicly listed and traded on

stock exchanges) and 38 foreign Banks. They have a combined network of over

53,000 branches and 17,000 ATMs. According to a report by ICRA Limited, a

rating agency, the public sector Banks hold over 75 percent of total assets of the

Banking industry, with the private and foreign Banks holding 18.2% and 6.5%

respectively.

NATIONALISATION OF BANKS IN INDIA

The nationalization of Banks in India took place in 1969 by Mrs. Indira Gandhi

the then prime minister. It nationalized 14 Banks then. These Banks were

mostly owned by businessmen and even managed by them.

Central Bank of India

Bank of Maharashtra

Dena Bank

Punjab National Bank

Syndicate Bank

Canara Bank


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Indian Bank

Indian Overseas Bank

Bank of Baroda

Union Bank

Allahabad Bank

United Bank of India

UCO Bank

Bank of India

Before the steps of nationalization of Indian Banks, only

State Bank of India (SBI) was nationalized. It took place in

July 1955 under the SBI Act of 1955. Nationalization of Seven

State Banks of India (formed subsidiary) took place on 19th

July, 1960. The State Bank of India is India's largest commercial

Bank and is ranked one of the top five Banks worldwide. It

serves 90 million customers through a network of 9,000

branches and it offers either directly or through subsidiaries

a wide range of Banking services . The second phase of

nationalization of Indian Banks took place in the year 1980.

Seven more Banks were nationalized with deposits over 200

crores. Till this year, approximately 80% of the

Bankingsegments in India were under Government ownership.
http://finance.indiamart.com/investment_in_india/nationalisation_banks.htmlhttp://finance.indiamart.com/investment_in_india/nationalisation_banks.htmlhttp://finance.indiamart.com/investment_in_india/nationalisation_banks.htmlhttp://finance.indiamart.com/investment_in_india/nationalisation_banks.htmlhttp://finance.indiamart.com/investment_in_india/nationalisation_banks.htmlhttp://finance.indiamart.com/investment_in_india/nationalisation_banks.htmlhttp://finance.indiamart.com/investment_in_india/nationalisation_banks.htmlhttp://finance.indiamart.com/investment_in_india/nationalisation_banks.html


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After the nationalization of Banks in India, the branches of

the public sector Banks rose to approximately 800% in

deposits and advances took a huge jump by 11,000%.

1955: Nationalization of State Bank of India.

1959: Nationalization of SBI subsidiaries.

1969: Nationalization of 14 major Banks.

1980: Nationalization of seven Banks with deposits over

200 crores.

INTRODUCTION

An asset is anything tangible or intangible that is capable of being owned or

controlled to produce value and that is held to have positive economic value and

a liability is defined as an obligation of an entity arising from past transactions

or events, the settlements of which may result in the transfer or use of assets,

provisions of services or other yielding of economic benefits in the future .In

financial accounting, a balance sheet or statement of financial position is a

summary of the financial balances of a sole proprietorship, a business

partnership or a company. Assets, liabilities and ownership equity are listed as


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of a specific date, such as the end of its financial year. A balance sheet is often

described as a "snapshot of a company's financial condition". Of the four basic

financial statements, the balance sheet is the only statement which applies to a

single point in time.

A standard company balance sheet has three parts: assets, liabilities and ownership

equity. The main categories of assets are usually listed first, and typically in

order of liquidity. Assets are followed by the liabilities. The difference between

the assets and the liabilities is known as equity or the net assets or the net worth

or capital of the company and according to the accounting equation, net worth

must equal assets minus liabilities.

ASSETS AND LIABILITIES OF A BANK

Assets earn revenue for the bank and includes cash, securities, loans, and

property and equipment that allows it to operate. Liabilities are either the

deposits of customers or money that banks borrow from other sources to use to

fund assets that earn revenue. Deposits are like debt in that it is money that the

banks owe to the customer but they differ from debt in that the addition or

withdrawal of money is at the discretion of the depositor rather than dictated by

contract. The owner's equity in a bank is often referred to as bank capital, which

is what is left when all assets have been sold and all liabilities have been paid.

SIGNIFICANCE OF ALM

Volatility

Product Innovations & Complexities


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Regulatory Environment

Management Recognition

PURPOSE & OBJECTIVE OF ALM

Review the interest rate structure and compare the same

to the interest/product pricing of both assets and

liabilities.

Examine the loan and investment portfolios in the light of

the foreign exchange risk and liquidity risk that might

arise.

Examine the credit risk and contingency risk that may

originate either due to rate fluctuations or otherwise and

assess the quality of assets.

Review, the actual performance against the projections

made and analyse the reasons for any effect on spreads.

An effective Asset Liability Management Technique aims to

manage the volume, mix, maturity, rate sensitivity, quality and

liquidity of assets and liabilities as a whole so as to attain a

predetermined acceptable risk/reward ration.

It is aimed to stabilize short-term profits, long-term earnings and long-term

substance of the bank. The parameters for stabilizing ALM system are:

1. Net Interest Income (NII)


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2. Net Interest Margin (NIM)

3. Economic Equity Ratio

RBIDIRECTIVES

Issued draft guidelines on 10th Sept98.

Final guidelines issued on 10th Feb99 for implementation of ALM w.e.f.

01.04.99.

To begin with 60% of asset &liabilities will be covered; 100% from

01.04.2000.

Initially Gap Analysis to be applied in the first stage of implementation.

Disclosure to Balance Sheet on maturity pattern on Deposits, Borrowings,

Investment & Advances w.e.f. 31.03.01

SUCCESS OF ALM IN BANKS :

PRE - CONDITIONS

Awareness for ALM in the Bank staff at all levelssupportive

management & dedicated Teams.

Method of reporting data from Branches/ other Departments. (StrongMIS).

Computerization-Full computerization, networking.

Insight into the banking operations, economic forecasting,

computerization, investment, credit.

. Linking up ALM to future Risk management Strategies.


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CHAPTER- 2

DESIGN OF THE

STUDY


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INTRODUCTION

A balance sheet is a financial report that shows the value of a company's

assets, liabilities, and owner's equity at a specific period of time, usually at

the end of an accounting period, such as a quarter or a year. An asset is

anything that can be sold for value. A liability is an obligation that must

eventually be paid, and, hence, it is a claim on assets. The owner's equity in

a bank is often referred to as bank capital, which is what is left when all

assets have been sold and all liabilities have been paid. The relationship of

the assets, liabilities, and owner's equity of a bank is shown by the

following equation

Bank Assets = Bank Liabilities + Bank Capital

A bank uses liabilities to buy assets, which earns its income. By using

liabilities, such as deposits or borrowings to finance assets such as loans to

individuals or businesses, or to buy interest earning securities, the owners

of the bank can leverage their bank capital to earn much more than would

otherwise be possible using only the bank's capital.

Asset and liability management is the practice of managing risks that arise due

to mismatches between the assets and liabilities (debts and assets) of the bank.

Banks face several risks such as the liquidity risk, interest rate risk, credit risk

and operational risk. Asset Liability management (ALM) is a strategic

management tool to manage interest rate risk and liquidity risk faced by

banks, other financial services companies and corporations. Banks manage the

risks of Asset liability mismatch by matching the assets and liabilities

according to the maturity pattern or the matching the duration, by hedging and

by securitization.


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Much of the techniques for hedging stem from the delta hedging concepts

introduced in the Black-Scholes model and in the work of Robert C. Merton and

Robert A. Jarrow. The early origins of asset and liability management date to

the high interest rate periods of 1975-6 and the late 1970s and early 1980s in the

United States.

Modern risk management now takes place from an integrated approach to

enterprise risk management that reflects the fact that interest rate risk, credit

risk, market risk, and liquidity risk are all interrelated. Increasing integrated risk

management is done on a full mark to market basis rather than the accounting

basis that was at the heart of the first interest rate sensivity gap and duration

calculations.

STATEMENT OF THE PROBLEM

Asset Liability Management is a dynamic process of Planning, Organizing &Controlling of Assets & Liabilities- their volumes, mixes, maturities, yields and

costs in order to maintain liquidity and Net Interest Income. An effective ALM

Technique aims to manage the volume, mix, maturity, rate sensitivity, quality

and liquidity of assets and liabilities as a whole so as to attain a predetermined

acceptable risk/reward ration. It is aimed to stabilize short-term profits, long-

term earnings and long-term substance of the bank. Hence a study of the

Asset Liability Management process is undertaken to know the banks

efficiency in managing the assets and liabilities .


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TOOLS AND TECHNIQUE USED

Primary data will be collected by using an interview schedule to

obtain clarification from concerned officials.

Secondary data comprises of data which will be collected from

various books, reports and manuals generated by the company.

SCOPE OF THE STUDY

This study was conducted at Canara Bank, Vasanth nagar ,with specificreference to Bangalore to analyze the cost benefit analysis of use of technology

in banking operation.

OBJECTIVES OF THE STUDY

To study the components of assets and liabilities.

To study the factors affecting the assets and liabilities.

To study the process adopted to manage assets and liabilities.

To study the financial implication of managing assets and

liabilities.

To offer solutions to better manage Assets and Liabilities.

METHODOLOGY

The present study is a descriptive study where the data was collected mainly

through secondary data. Seconadary data was collected from the reports,

internet, magazines journals, books and brochure generated by the bank.


28/32

Primary data will be collected by using an interview schedule to obtain

clarification from concerned officials.

PLAN OF ANALYSIS

The data collected will be presented in the tabular form and wherever necessary

graph will be made. Data analysis and interpretation is done on the data

collected. Inference is drawn to attain the objective of the study. Summary of

findings is received based on data collected.

OVERVIEW OF CHAPTER

o Chapter 1 Introduction

The theoretical aspects of the study with detailed relevance to the serve

as introductory chapter.

o Chapter 2 Design of the study:

This chapter will include introduction, statement of review, objective of

the study, methodology, tools and technique used, plan of analysis and

limitation.

Chapter 3 Profile of the company

This chapter contains history of Canara Bank, its objective, vision,

mission and strategy of the bank and also the various schemes and

services provided by the bank.


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Chapter 4 Analysis and interpretation of data

This chapter contains the analysis of data that was collected through the

secondary data.

Chapter 5 Summary of findings

It contains the summary of findings, conclusions and also

recommendations to the study.


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CHAPTER 3

PROFILE OF

THE COMPANY


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A Brief Profile of the Bank

Widely known for customer centricity, Canara Bank was founded by Shri

Ammembal Subba Rao Pai, a great visionary and philanthropist, in July 1906,

at Mangalore, then a small port in Karnataka. The Bank has gone through the

various phases of its growth trajectory over hundred years of its existence.

Growth of Canara Bank was phenomenal, especially after nationalization in the

year 1969, attaining the status of a national level player in terms of

geographical reach and clientele segments. Eighties was characterized by

business diversification for the Bank. In June 2006, the Bank completed a

century of operation in the Indian banking industry. The eventful journey of the

Bank has been characterized by several memorable milestones. Today, Canara

Bank occupies a premier position in the comity of Indian banks. With an

unbroken record of profits since its inception, Canara Bank has several firsts to

its credit. These include:

Launching of Inter-City ATM Network

Obtaining ISO Certification for a Branch

Articulation of Good Banking Banks Citizen Charter

Commissioning of Exclusive Mahila Banking Branch

Launching of Exclusive Subsidiary for IT Consultancy

Issuing credit card for farmers

Providing Agricultural Consultancy Services

Over the years, the Bank has been scaling up its market position to emerge as a

major'Financial Conglomerate' with as many as nine subsidiaries/sponsored


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Documents

ALM Synopsis