Axis Bank India

 

 

Axis Bank India was a formerly known as UTI Bank (Unit Trust of India). It offers a range of retail and corporate banking services, including investment, credit, advisory and deposits. With its headquarters in Mumbai, Axis Bank primarily serves Indian customers.[br]

Axis Bank India: Company Profile

Axis Bank India came into existence in 1994 as a private banking institution. It was formed when Unit Trust of India (UTI) joined hands with major PSU insurance companies to form a bank holding company. The bank has its registered office at Ahmedabad, while the operations are controlled from the Mumbai office.

 

In 1998, Axis Bank released its initial public offering (IPO), which was over-subscribed 1.2 times. This reduced the UTI holding in the bank to 60.85%. Over the years, Axis Bank expanded its product range to include financial services, such as investment, insurance and asset management. It also expanded its market base to reach out to various geographic regions in the nation.

 

Axis Bank enjoys huge infrastructure across India, with 853 branches including extension counters and over 3500 ATM machines (2009 data).

 

At the end of financial year March 2009, the bank generated Rs65,830.9 million (approximately $1.3 billions), with an operating profits of Rs18,153.6 million (approximately $350.7 million).[br]

Axis Bank India: Products and Services

Axis Bank India offers financial products and services to retail, corporate and private clients.

 

• Personal banking: The bank offers accounts, deposits, loans, credit cards, insurance, investment and payment services for retail customers.

• Corporate banking: Corporate clients can avail checking account, commercial loans, treasury management and cash management from Axis Bank.

• NRI banking: Axis Bank offers money remittance services to non-resident Indians (NRI). NRIs can also open an online account and invest in Indian stocks through Axis Bank India.

• Priority banking: Priority customers receive special banking privileges in loans, cards, deposits and investments. The bank assigns a dedicated relationship manager to every priority customer to advise on his/her finances and to manage investment portfolio.

 

Axis Bank was recognized as the Best Domestic Debt House (India) by Asia Money 2008 and Euromoney 2008. It also bagged the award for the Best Private Sector Bank at the NDTV Profit Business Leadership Awards 2008.