Axis Bank is the third largest private sector bank in India. The Bank operates in four segments, namely treasury, retail banking, corporate/ wholesale banking and other banking business.
Fast Facts about Axis Bank
- Head Quarters: Mumbai
- MD and CEO: Shikha Sharma
- Branches : With 3,485 domestic branches (including extension counters) and 14,332 ATMs across the country as on 30 September 2017.
- Branches in others countries: The bank also has nine overseas offices with branches at Singapore, Hong Kong, Dubai (at the DIFC), Shanghai and Colombo. Representative offices at Dubai, Abu Dhabi and Dhaka and an overseas subsidiary at London, UK.
- Position in India : Third largest private sector bank in India.
History of Axis Bank
- Axis Bank was incorporated in the year 1993 with the name UTI Bank Ltd.
- Axis Bank is one of the first new generation private sector banks to have begun operations in 1994.
- The bank was promoted in 1993, jointly by Specified Undertaking of Unit Trust of India (SUUTI) (then known as Unit Trust of India), Life Insurance Corporation of India (LIC), General Insurance Corporation of India (GIC), National Insurance Company Ltd., The New India Assurance Company Ltd., The Oriental Insurance Company Ltd. and United India Insurance Company Ltd.
Credit Cards, Consumer Banking, Corporate Banking, Finance and Insurance, Investment Banking, Mortgage Loans, Private Banking, Private Equity, Wealth Management
In February 24, 2010, the Bank launched the AXIS CALL & PAY on atom, a unique mobile payments solution using Axis Bank debit cards.
Axis Bank is the first bank in the country to provide a secure debit card-based payment service over IVR.
On 9 March 2016, Axis Bank announced the launch of the world’s first Forex prepaid card issued in conjunction with Diners Club International, a business unit of Discover Financial Services.
Mobile app: Axis Mobile
The bank currently has 10 subsidiaries. The list of the same is given below.
- Axis Capital Ltd.
- Axis Private Equity Ltd.
- Axis Trustee Services Ltd.
- Axis Asset Management Company Ltd.
- Axis Mutual Fund Trustee Ltd.
- Axis Bank UK Ltd.
- Axis Securities Ltd.
- Axis Finance Ltd.
- Axis Securities Europe Ltd.
- Axis Trends Limited
Tag lines: Badhti ka naam Zindagi
Latest news about Axis Bank
- On 30 March 2017, Axis Bank announced a strategic partnership with Wells Fargo & Company to offer seamless remittance facility to their NRI customers from The United States of America (USA).
- On 17 June 2017, Axis Bank in association with Kochi Metro Rail Corporation (KMRL) launched Indias first single-wallet contactless, open loop metro card to allow cashless commuting for commuters in Kochi.
- On 5 July 2017, Axis Bank announced its foray into the luxury bikes loans segment for 500cc & above bikes.
- On 11 July 2017, Axis Bank announced its collaboration with Inter-American Investment Corporation (IIC) to facilitate trade with Latin America and the Caribbean.
- Axis Bank on 27 July 2017 announced that it has entered into an agreement with Jasper Infotech Private Limited to acquire 100% stake in its subsidiaries viz. FreeCharge Payment Technologies Private Limited and Accelyst Solutions Private Limited.
Awards and Recognition of Axis Bank
In the year 2005, the Axis Bank raised $239.3 million through Global Depository Receipts. The Bank also won the award Outstanding Achievement Award for the year 2005 from Indian Banks Association for IT Infrastructure, delivery capabilities and innovative solutions.
Main Article : Private Sector Banks in India