DETAILS OF AXIS BANK

Type
Public (BSE: 532215)
Industry
Banking
Financial services
Founded
1994
Headquarters
Mumbai, India
Key people
Adarsh Kishore
( Chairman)
Shikha Sharma
(MD & CEO)
Products
Investment Banking
Commercial Banking
Retail Banking
Private Banking
Asset Management
Mortgages
Credit Cards
Revenue
13,745.04 crore (US$ 3.12
billion)(2009)
Net income
1,812.93 crore (US$ 411.54
million)(2009)
Employees
13,389 (2010)[1]
Website
Axisbank.com
Axis Bank, formerly UTI
Bank, is a financial services
firm that had begun
operations in 1994, after
the Government of India
allowed new private banks
to be established. The Bank
was promoted jointly by
the Administrator of the
Specified Undertaking of
the Unit Trust of India
(UTI-I), Life Insurance
Corporation of India
(LIC), General Insurance
Corporation Ltd., National
Insurance Company Ltd.,
The New India Assurance
Company
, The Oriental Insurance
Corporation
and United India Insurance
Company
UTI-I holds a special
position in the Indian
capital markets and has
promoted many leading
financial institutions in the
country. The bank changed
its name to Axis Bank in
April 2007 to avoid
confusion with other
unrelated entities with
similar name.[2] After the
Retirement of Mr. P. J.
Nayak, Shikha Sharma was
named as the bank's
managing director and CEO
on 20 April 2009.[3]
As on the year ended 31
March 2009 the Bank had a
total income of 13,745.04
crore (US$ 3.12 billion) and
a net profit of 1,812.93
crore (US$ 411.54 million).
On 24 February 2010, Axis
Bank announced the
launch of '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.[4]
Branch Network
AXIS Bank
The Bank's Registered
Office is at Ahmedabad
and its Central Office is
located at Mumbai. At the
end of September 2010,
The Bank has a very wide
network of more than 1095
branches and Extension
Counters (as on 31 October
2010).The Bank has a
network of over 4846 ATMs
(as on 31 September 2010).
The Bank has loans now (as
of June 2007) account for
as much as 70 per cent of
the bank ’s total loan book
of Rs 2,00,000 crore. For
HDFC Bank, retail assets are
around 57 per cent (Rs
28,000 crore) of the total
loans as of March 2007.
In the case of Axis Bank,
retail loans have declined
from 30 per cent of the
total loan book of Rs
25,800 crore in June 2006
to around 23 per cent of
loan book of Rs.41,280
crore (as of June 2007).
Even over a longer period,
while the overall asset
growth for Axis Bank has
been quite high and has
matched that of the other
banks, retail exposures
grew at a slower pace.
If the sharp decline in the
retail asset book in the past
year in the case of Axis
Bank is part of a deliberate
business strategy, this could
have significant
implications (not
necessarily negative) for
the overall future
profitability of the business.
Despite the slower growth
of the retail book over a
period of time and the
outright decline seen in the
past year, the bank ’s
fundamentals are quite
resilient. With the high
level of mid-corporate and
wholesale corporate
lending the bank has been
doing, one would have
expected the net interest
margins to have been
under greater pressure. The
bank, though, appears to
have insulated such
pressures. Interest margins,
while they have declined
from the 3.15 per cent seen
in 2003-04, are still
hovering close to the 3 per
cent mark. (The
comparable margins for
ICICI Bank and HDFC Bank
are around 2.60 per cent
and 4 per cent respectively.
The margins for ICICI Bank
are lower despite its much
larger share of the higher
margin retail business, since
funding costs also are
higher).
The Bank today is
capitalized to the extent of
Rs. 408.84 crores with the
public holding (other than
promoters and GDRs) at
53.81%.
AxisRemit Online
This is a convenient and
secure portal for NRIs to
remit money to India,
generally required for
maintenance of their
relatives. It is a growing
revenue stream for the
bank, with more and more
NRIs registering to avail of
the highly competitive
exchange rates and
convenient online facility.
See also
Indian banking
References
1. ^ "Axis Bank to hire
4,500 employees this
fiscal"
.
Financialexpress.com.
2007-11-19. Retrieved
2010-09-28.
2. ^ UTI Bank to be
called Axis Bank
3. ^ Shikha named Axis
Bank’s MD and CEO
4. ^ "Axis Bank
Launches 'AXIS CALL
& PAY on atom'"
. 24 February 2010.
Retrieved 25
February 2010.
External links
Official website
Axis Bank Hong Kong
Axis Bank Remittance
Services
Axis Bank Services
Axis Bank details on the
NSE Site
Axis Bank IFSC Codes
Find IFSC Code of all
Axis Bank branches in
India, or Branch Details
by IFSC Code
v • d • e
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