Edelweiss Asset Reconstruction Company Ltd. (EARC)
Edelweiss Asset Reconstruction Company Ltd. (EARC), commenced business of securitization and asset reconstruction in Mar-2010, with the main objective of ‘Revival’ or ‘Asset Reconstruction’ in its right spirit, as against asset stripping which is normally perceived as ARC business. Sponsored by the Edelweiss Group, EARC is the fastest growing and largest ARC in India today.
The Edelweiss Group
The Edelweiss Group is one of India’s leading diversified financial services conglomerates providing a broad range of financial products and services to a substantial and diversified client base that includes corporations, institutions and individuals. Edelweiss’s products and services span multiple asset classes and consumer segments across domestic and global geographies. The five business clusters are broadly divided into Credit (including Structured Collateralised Credit, Housing Finance, Retail Finance, Distressed Assets Credit and Agri Finance), Commodities, Financial Markets, Asset Management and Life Insurance. Edelweiss has an asset base of Rs. 27,000 crores with Rs. 3,912 crores in revenues for FY15. Its consistent performance is evidenced by a PAT CAGR of 37% over the last three years and 30% over the last ten years.
The group’s research driven approach and proven history of innovation has enabled it to foster strong relationships across all client segments. The Group has sizeable presence in large retail segment through its businesses such as Life Insurance, Housing Finance, Mutual Fund and Retail Broking. It serves its 572,000 strong client base through 5,555 employees based out of 240 offices located in 125 cities across India as well as eight offices abroad. Together with over 4,800 strong network of Sub-Brokers and Authorized Persons, Edelweiss Group has presence across all major cities in India.
Union Bank of India
Union Bank of India is the 5th largest Nationalized Bank by assets with a pan India presence. Established in the year 1919, and having its first head office inaugurated by the father of nation, Mahatma Gandhi, Union Bank offers products and services for retail, agriculture, MSME, large corporate and NRI customers through 4000 branches, which includes 3 overseas branches and 6600 ATMs, dedicated call centre operating 24*7 in 9 languages and alternative channels like internet banking, mobile banking. The Bank has a business mix of Rs. 5,82,817 crore, with deposits of Rs 3,27,264 crore and advances of Rs 2,55,553 crore as of June 2015.
Union Bank is actively raising its international profile through overseas branches and representative offices. Union Bank has three foreign branches, at Hong Kong, Dubai International Financial Centre (DIFC), and Antwerp, Belgium and one wholly owned subsidiary at London. The Bank has representative offices at Shanghai (China), Abu Dhabi (UAE), Beijing (China), and Sydney (Australia). Union Bank has positioned itself as a prime remittance service provider for expatriates.
The Bank has a joint venture in life insurance with Bank of India and Dai-ichi Life Insurance Co of Japan as Star Union Dai-ichi Life Insurance Company. The Bank’s subsidiary for asset management business, Union KBC Asset Management Co, started operation in May 2011.
Union Bank was the first amongst large public sector banks (PSBs) which implemented 100 per cent core banking solution (CBS). Bringing more convenience to customers, the Bank’s ‘UnionXperience’ branches provide automation like self service passbook printing, cheque deposits machine, phone banking hot-line etc. The Bank has taken several digital initiatives: IMPS through branches― ours is the first Bank to do so; Mobile Passbook (M Passbook); Missed call facility for Mobile Banking & Account balance; SMS based value added services. Further, keeping pace with India’s Digital transformation, the Bank in association with Visa has recently launched Business Debit Card, Usecure Credit Card and Signature Credit Card. These add to already comprehensive digital offerings through various modes.
State Bank of India
State Bank of India is an Indian multinational, Public Sector banking and financial services company. It is the largest Commercial Bank in India in terms of assets, deposits, profits, branches and employees. Forbes has named Smt. Arundhati Bhattacharya, Chairman, State Bank of India, in its annual 100 ‘Most Powerful Women’ list.
For the first time in India, instant opening of Bank accounts with issuance of personalised debit cards, an interactive dream wall, instant in-principle loan approvals, remote expert aid customers in conceptualizing their journey through realising their financial dreams were made possible with its latest product sbiINTOUCH in 9 major cities across the India and the Bank is planning to open 250 more such branches in the coming year. To further simplify banking and to provide anytime anywhere banking services ‘State Bank Anywhere’ Mobile Banking app is available at all platforms thereby reaching out to a large customer base. The Bank has introduced Missed Call/SMS Banking service for the convenience of their customers apart from 24×7 Contact Centre and toll free helplines to assist customers for their query and resolve their problems.The recent launch of OCAS(Online Customer Acquisition System) for real time customer interface for applying for Home Loans, Car Loans and Education Loans which also helps customer get avenue for getting loan processing done from the comfort of his or her home/office.
The theme of SBI for the current year is ‘Banker to Digital India’. Hence SBI has introduced so many new technologyinitiatives for further enhancing digital banking in India.SBI has won several top-ranking awards for its operations including Best Bank Award, Best Technology Award, Most Preferred Bank, Most valuable Brands of India, Socially Responsible Bank and many others.
Alvarez & Marsal
Since 1983, Alvarez & Marsal has set the standard for working with organizations to solve complex problems, boost operating performance and maximize value for stakeholders. A leading independent global professional services firm, A&M draws on its deep operational and turnaround heritage to help companies across the industry spectrum improve operating and financial performance, and to navigate business, litigation and tax matters with speed, responsiveness and unmatched quality.
Whether serving as business advisers or in interim management roles during periods of change or transition, A&M stands for leadership, problem-solving and value creation. A&M clients range from multinational to middle-market companies around the world that are both publicly held and privately owned. With a bias toward action, implementation and results, Alvarez & Marsal professionals serve banks, private equity firms, company management and boards and other stakeholders aiming to drive sustainable results up and down the balance sheet. Notable restructuring & turnaround clients have included Lehman Brothers, Arthur Anderson and Jet Airways to name a few.
A founder of the modern day restructuring industry, A&M has been honored numerous times by the Turnaround Management Association and has been recognized as one of the Best Firms to Work For by Consulting magazine.
International Asset Reconstruction Company Private Limited (IARC) is registered under Section 3 of the SARFAESI Act, 2002, as a Securitisation and Reconstruction Company with the Reserve Bank of India. IARC was promoted in 2002 by professionals from the banking and financial services sector, for reconstruction of financial assets. HDFC Bank Ltd., Tata Capital Financial Services Ltd., City Union Bank Limited, FMO, Netherlands, ICICI Bank Ltd. and Standard Bank Plc, UK are its institutional shareholders. With offices in Mumbai, Gurgaon and Chennai, IARC aims to carve out a niche for itself, helping in revival of NPAs of sick units with turnaround potential, and optimizing resolution of Non-performing assets (NPAs). IARC aims to be a dominant player across all segments and optimize resolution results in terms of amounts realized as well as time taken thereof and boasts of one of the best talent pool and persons with rich experience in the domain. Till date, IARC has developed business relationship with number of financial institutions/ banks both in public sector and private sector and foreign banks.
KKR is a leading global investment firm that manages investments across multiple asset classes including private equity, energy, infrastructure, real estate, credit and hedge funds. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world‐class people, and driving growth and value creation at the asset level. KKR invests its own capital alongside its partners’ capital and brings opportunities to others through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. For additional information about KKR & Co. L.P. (NYSE:KKR), please visit KKR’s website at www.kkr.com