Daily Brief ESG: Will Citi’s Retail Customers Stick with Axis Bank and more

In today’s briefing:

Will Citi’s Retail Customers Stick with Axis Bank, the Private Sector Market Leader in Complaints?
Ottogi Corp: Strong Financial Growth and an Environmental Champion
Watch for Changes in Proxy Voting by Domestic Institutional Investors on Shareholder Proposals

Will Citi’s Retail Customers Stick with Axis Bank, the Private Sector Market Leader in Complaints?

Erstwhile Citibank India’s retail customers are high-income, high spending and demand excellent customer service
In FY2022, as per the latest data, Axis Bank has the dubious distinction of becoming the customer complaints market leader in private sector banking
If Axis Bank does not improve its customer service, erstwhile Citibank’s lucrative retail customers will flee to competitors

Ottogi Corporation not only achieved remarkable revenue and net income growth in 2022, but also maintained an ESG rating of A for five consecutive years.
Ottogi demonstrates strong sustainability performance, with high scores in “Environment Policy”, “Chemical Management”, and “Human Rights, Shared Growth & Community”.
Ottogi’s 10-year dedication to environmental management is evidenced by tangible data, demonstrating remarkable achievements in the management of greenhouse gas (GHG) emissions, energy usage, water consumption, and waste recycling.

Many companies that cannot make significant investments in growth will reduce cash from their balance sheets through shareholder returns, and ROE+DOE will continue to reach high levels in FY2023.
A company with a P/B of less than 1x for a long time should consider the option of going private after weighing the costs and benefits of being listed.
Although most of the shareholder proposals will be rejected unless the foreign ownership is very high, whether the voting rights of domestic institutional investors will change remains to be seen.

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