PROJECT REPORT

TOPIC : BANK
AXIS BANK

AXIS BANK
Headquarters

Mumbai, Maharastra, India.

Branch :
1135, B/E, D5/102/1135, 2nd Main Rd, Tamilians Colony, Ashok Nagar, Mandya, Karnataka 571401

Axis Bank Limited, formerly known as UTI Bank (1993–2007), is an Indian multinational banking and financial
services company headquartered in Mumbai, Maharashtra. It is India's third largest private sector bank by assets
and Fourth largest by Market capitalisation. It sells financial services to large and mid-size companies, SMEs
and retail businesses.

History
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 (UTI), Life Insurance Corporation of India (LIC), 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.
Merger

In 2001 UTI Bank agreed to merge with Global Trust Bank, but the Reserve Bank of India (RBI) 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.

In 2017: Axis Bank acquired Freecharge, a digital marketplace for financial services in 2017 for approximately
₹385 crore.

In 2023: In March 2023 Axis bank completed acquisition of Citi group's Indian subsidiary Citibank India's
consumer banking business for a cash consideration of ₹12,325 crore (US$1.5 billion) which was initially
announced in March 2022 thus taking almost one year in the process.

Investor

As of 30 June 2016, 30.81% shares are owned by the promoters and the promoter group (United India Insurance
Company Limited, Oriental Insurance Company Limited, National Insurance Company Limited, New India
Assurance Company Ltd, GIC, LIC and UTI). The remaining 69.19% shares are owned by mutual funds, FIIs,
banks, insurance companies, corporate bodies and individual investors.

Organisation Structure
Origination of Axis Bank

 On 30 July 2007, UTI Bank changed its name to Axis Bank.[16]

 In 2009, Shikha Sharma was appointed as the MD and CEO of Axis Bank.[17]
 In 2013, Axis Bank's subsidiary, Axis Bank UK commenced banking operations.[18]
 On 1 January 2019, Amitabh Chaudhry took over as MD and CEO.[19]
 In year 2021, the Bank had reduced its stake in Yes Bank from 2.39 per cent to 1.96 per cent.[20]

Services
 Retail banking

The bank offers lending services to individuals and small businesses, along with liability
products, card services, Internet banking, automated teller machines (ATM) services,
depository, financial advisory services, and Non-resident Indian (NRI) services. Axis bank is a
participant in RBI's NEFT enabled participating banks list.

 Corporate banking

o Transaction banking: Axis Bank provides products and services related to transaction
banking to customers in areas of current accounts, cash management services, capital market
services, trade, foreign exchange and derivatives, cross-border trade and correspondent
banking services, and tax collections on behalf of the Government and various State
Governments in India.
o Investment banking and trustee services: The bank provides investment banking and
trusteeship services through its owned subsidiaries. Axis Capital Limited provides investment
banking services relating to equity capital markets, institutional stock brokering besides M&A
advisory. Axis Trustee Services Limited is engaged in trusteeship activities, acting as a
debenture trustee and as a trustee to various securitization trusts.

 International banking

The bank offers corporate banking, trade finance, treasury and risk management through the
branches at Singapore, Hong Kong, DIFC, Shanghai and Colombo, and as also retail liability
products from its branches at Hong Kong and Colombo. The representative office
at Dhaka was inaugurated during the current financial year.

Conclusion
In conclusion, Axis Bank is a leading private-sector bank in India with a strong network of branches
and ATMs across the country. The bank offers a wide range of financial products and services,
including savings and current accounts, loans, credit cards, insurance, wealth management, and
investment products. It is known for its high-quality customer service, strong financial performance,
and its range of digital banking options, which allow customers to access their accounts and conduct
financial transactions remotely. Axis Bank is a reliable and convenient choice for individuals and
businesses looking for a financial institution to meet their needs.