AXIS Bank First new generation private sector bank Started operations in 1994 Promoted by UTI 87% equity

y IPO 1998 2007 -08 143 new branches, 33 extension counters; total no. of branches = 651, extension counters = 53; 158 branches in semi-urban and rural areas; 29 states and 3 union territories covering 405 centres. Initial business focus corporate assets 80% of funds = corporate funds till 2002 Banks asset quality deteriorated NPA to Advances ratio = 6.3% in FY99; 3.7% in FY97 Growth rate of banks advances: 17% marginal growth in FY02; CAGR (last 4 years) = 44%