Axis Bank

Axis Bank Limited provides various financial products and services. It operates through four segments: Treasury, Retail Banking, Corporate/Wholesale Banking, and Other Banking Businesses. The Treasury segment is involved in investments in sovereign and corporate debt, equity and mutual funds, as well as in trading operations, derivative trading, and foreign exchange operations. The Retail Banking segment engages in the provision of lending services to individuals/small businesses; liability products, card services, internet banking, mobile banking, ATM services, depository, financial advisory services, and NRI services. 

The Corporate/Wholesale Banking segment offers corporate advisory, placements and syndication, project appraisals, capital market related, and cash management services. The Other Banking Business segment is involved in para-banking activities. 

The company operates 4,759 branches; 10,161 ATMs; and 6,063 recyclers in India. It also has eight international offices with branches at Singapore, Dubai, and Gift City, India; and representative offices in Dhaka, Dubai, Abu Dhabi, and Sharjah. The company was formerly known as UTI Bank Limited and changed its name to Axis Bank Limited in July 2007. Axis Bank Limited was incorporated in 1993 and is based in Mumbai, India.

The bank was founded on 3 December 1993 as UTI Bank, opening its registered office in Ahmedabad and a corporate office in Mumbai. The bank was promoted jointly by the Administrator of the Unit Trust of India, Life Insurance Corporation of India, General Insurance Corporation, National Insurance Company, The New India Assurance Company, The Oriental Insurance Corporation and United India Insurance Company. 

The first branch was inaugurated on 2 April 1994 in Ahmedabad by Manmohan Singh, then finance minister of India. In 2001 UTI Bank agreed to merge with Global Trust Bank, but the Reserve Bank of India withheld approval and the merger did not take place. In 2004, the RBI put Global Trust under moratorium and supervised its merger with Oriental Bank of Commerce. 

The following year, UTI bank was listed on the London Stock Exchange. In the year 2006, UTI Bank opened its first overseas branch in Singapore. The same year it opened an office in Shanghai, China. In 2007, it opened a branch in the Dubai International Financial Centre and branches in Hong Kong. On 30 July 2007, UTI Bank changed its name to Axis Bank. In 2009, Shikha Sharma was appointed as the MD and CEO of Axis Bank. In 2013, Axis Bank's subsidiary, Axis Bank UK commenced banking operations. On 1 January 2019, Amitabh Chaudhry took over as MD and CEO. In the year 2021, the Bank reduced its stake in Yes Bank from 2.39 per cent to 1.96 per cent.

“Axis Bank's mission is to be the preferred financial solutions provider excelling in customer delivery through insight, empowered employees and smart use of technology.”

“To be the preferred financial solutions provider excelling in customer delivery through insight, empowered employees and smart use of technology.”