Axis Bank Limited is a private sector bank of India. It is one of the most rapidly growing banks in private sector.
The four main business segments of the bank are - treasury, retail banking, corporate/ wholesale banking and other banking business. Though the registered office of the bank is in Ahmedabad, headquarter is in Mumbai and also Axis Bank operates through its 3000+ branches.
It has around 12922 ATMs in India. Its ATM network is largest of all the private banks in India.
Axis Bank has 8 overseas offices. More than 42,000 employees work at Axis Bank. Axis Bank was established as UTI Bank in 1993. Dr. Manmohan Singh inaugurated the first branch of the bank. Shikha Sharma serves as the CEO and Managing Director of Axis Bank. There are five subsidiaries of the bank.
Axis Bank had a revenue of Rs. 40988.04 crore in latest financial year (2015-16). Its profit stood at Rs. 8223.66 crore. It has total market capitalization of Rs. 122468.25 crore. Recently, Axis Bank issued green bonds. The bank raised $500 million from green bonds. It became fifth company to issue green bonds. Axis Bank got permission of Reserve Bank of India to raise foreign shareholding limit from 49% to 62%. This news saw an exchange of 1.98 million shares on BSE and NSE. It boosted the share price of the bank up by 3%. Due to decline in its profits in quarter 4 of financial year 2015-16, top management of Axis Bank decided to take 20% to 50% deduction in their variable pay.