Axis Bank Limited (formerly UTI Bank) is the third largest private sector bank in India.

It offers
financial services to customer segments covering Large and Mid-Corporate, MSME, Agriculture and
Retail Businesses.Axis Bank has its headquarters in Mumbai.

History
Axis Bank began its operations in 1994, after the Government of India allowed new private banks to
be established. The Bank was promoted in 1993 jointly by the Administrator 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. The Unit Trust of India holds a special position in the Indian
capital markets and has promoted many leading financial institutions in the country.
Axis Bank (erstwhile UTI Bank) opened its registered office in Ahmadabad and corporate office in
Mumbai in December 1993. The first branch was inaugurated on 2 April 1994 in Ahmadabad by
Dr. Manmohan Singh, the then Finance Minister of India.

Operations
Indian Business: As on 31-Mar-2014, the Bank had a network of 2402 branches and extension
counters and 12922 ATMs.[5] Axis Bank has the largest ATM network among private banks in India [6]
[7]

and it operates an ATM at one of the worlds highest sites at Thegu, Sikkim at a height of 4,023

meters (13,200 ft) above sea level.[8]

International Business: The Bank has seven international offices with branches at
Singapore, Hong Kong, Dubai (at the DIFC), Shanghai[9] and Colombo and representative offices at
Dubai and Abu Dhabi, which focus on corporate lending, trade finance, syndication, investment
banking and liability businesses. In addition to the above, the Bank has a presence in UK with its
wholly owned subsidiary Axis Bank UK Limited.[5][10]

Services [edit]
Axis Bank operates in four segments: Treasury operations, Retail banking, Corporate/Wholesale
banking and other banking business.[11]
Treasury operations: The Banks treasury operation services include investments in sovereign and
corporate debt, equity and mutual funds, trading operations, derivative trading and foreign exchange
operations on the account, and for customers and central funding. [3]
Retail banking: In the retail banking category, the bank offers services such as lending to
individuals/small businesses subject to the orientation, product and granularity criterion, along with

liability products, card services, Internet banking, automated teller machines (ATM) services,
depository, financial advisory services, and Non-resident Indian (NRI) services.[3]
Corporate/wholesale banking: The Bank offers to corporate and other organizations services
including corporate relationship not included under retail banking, corporate advisory services,
placements and syndication, management of public issues, project appraisals, capital market related
services and cash management services.
NRI services: Products and services for NRIs that facilitate investments in India.[12]
Business banking: The Bank accepts income and other direct taxes through its 214 authorized
branches at 137 locations and central excise and service taxes (including e-Payments) through 56
authorized branches at 14 locations.[3]
Investment banking: Banks Investment Banking business comprises activities related to Equity
Capital Markets, Mergers and Acquisitions and Private Equity Advisory. The bank is a SEBIregistered Category I Merchant Banker and has been active in advising Indian companies in raising
equity through IPOs, QIPs, and Rights issues etc. During the financial year ended 31 March 2012,
Axis Bank undertook 9 transactions including 5 IPOs and 2 Open Offers.

[3]

Lending to small and medium enterprises: Axis Bank SME business is segmented in three
groups: Small Enterprises, Medium Enterprises and Supply Chain Finance. Under the Small
Business Group a subgroup for financing micro enterprises is also set up.[3] Axis bank is the first
Indian Bank having TCDC cards in 11 currencies.[citation needed]
Agriculture banking: 759 branches of the Bank provide banking services, including agricultural
loans, to farmers.[3] As on 31 March 2013, the Banks outstanding loans in the agricultural sector was
INR 148 billion, constituting 7.5% of its total advances.[3]

Initiatives [edit]
The Business Gaurav SME Awards: In 201112, Axis Bank set up 6 SME centres and SME cells
each across the country, taking the total number to 32 SME Centres. The Bank also organized the
'Business Gaurav SME Awards' in association with Dun & Bradstreet to recognize and award
achievements in the SME space.[13]
Financial inclusion: Till March 2012, the Bank had opened over 4.4 million No Frills accounts in
over 7607 villages through a network of 15 Business Correspondents and nearly 6000 customer
service points. Axis Bank has a strong presence in Electronic Benefit Transfer (EBT) and has
covered 6800 villages across 19 districts and 9 states till date with over 3.7 million beneficiaries.
Industry First Initiatives:

Axis Bank launched Mobile Banking App 2.0 for its retail resident Indian customers the first
of its kind in India, which offers a high level of personalization. The App has been launched in
partnership with Tagit, a leading Singapore mobile solutions company. The new application uses
Tagit's mobility solution platform that enables Banking on-the-go. [14][15]

'Axis Bank - ISIC Forex Card' for students, is the first photo Travel Currency Card available in
USD, Euro, GBP and AUD currencies. It can be used across 34 million merchant locations and
at over 2 million MasterCard ATMs globally.[16]

Axis Bank has partnered with Visa to launch 'eKYC' (electronic Know your customer) facility,
first organization in India to introduce Biometrics based KYC, offering convenience, speed and
ease to Aadhaar-registered individuals to open bank accounts.[17]

Awards and recognitions [edit]

Bank of the Year Money Today FPCIL Awards 201213[18]

Best Bank CNBC-TV18 Indias Best Bank and Financial Institution Awards 2012

Best Bank Runner-up Outlook Money Awards 2012

'Consistent Performer' in 'Indias Best Banks 2012 survey' by Business Today and KPMG [19]

Fastest Growing Large Bank Dun & Bradstreet Polaris Financial Technology Banking
Awards 2012

Fastest Growing Large Bank Business world Best Banks Survey 2012

Best Domestic Bond House The Asset Triple A Country Awards 2012

India Bond House of the year IFR ASIA Country Awards 2012

Deal Maker of the Year in Rupee Bonds Business world Magna Awards India's Best Deal
Makers 2012

The Best Emerging Bullion Dealing Bank 9th India International Gold Convention-2011-12

Best Acquiring Institution in South Asia Visa LEADER Award at Visas 2012 APCEMEA
Security Summit, Bali

Gold Shield for Excellence in Financial Reporting in the Private Banks category 201112
from Institute of Chartered Accountants of India

Brand Ambassador [edit]

Deepika Padukone, a well-known Bollywood Actress was appointed as the brand ambassador for
Axis Bank [20]

Listing and shareholding [edit]

Axis Bank's equity shares are listed on the Bombay Stock Exchange and National Stock Exchange
of India.[3][21] The company's global depository receipts (GDRs) are listed on the London Stock
Exchange.[22] The Bonds issued by the Bank under the MTN programme are listed on the Singapore
Stock Exchange.[3]
As on 31 December 2013, the promoters UTI, LIC and GIC held approx. 34% of the shares in Axis
Bank. Foreign Institutional investors (FII) held approx. 43% of the shares. Remaining 23% of the
shares are held by others.[23]
Shareholders (as on 31-Dec-2013)

Shareholding[23]

Promoter Group

33.88%

Foreign Institutional Investors (FII)

43.18%

Individual shareholders

06.61%

Bodies Corporate

06.03%

Mutual funds

04.47%

GDR

03.90%

Financial institutions / Banks

00.85%

Others

01.08%

Total

100.0%

Employees [edit]
As on 31 March 2013, Axis Bank had 37,901 employees, out of which 7,117 employees were women
(19%). The bank incurred INR 26.7 billion on employee benefits during the FY 2012-13.[3] The
average age of an Axis Bank employee is 29 years.[24] The attrition rate in Axis Bank is approx. 9%
per year.[25]

Corporate social responsibility [edit]

Axis Bank Foundation: Axis bank has set up this trust in 2006 and supports supplementary
education. Axis Bank contributes up to 1 percent of its net profit annually to various social
initiatives undertaken by this foundation.[26] During the year 201112, the foundation has
partnered with 36 NGOs for educating over a lakh underprivileged and special kids in 13 states.

Green Banking: The recycling initiative under the Green Banking banner has helped the
bank productively use around 21572 kilograms of dry waste during the year.[3] The Axis Bank's
corporate office in Mumbai is designed and constructed as a Platinum LEED-Certified Green
Building.[3]