Axis Bank was the first of the new private banks to have 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) and General Insurance Corporation of India (GIC) and other four PSU insurance companies, i.e. National Insurance Company Ltd., The New India Assurance Company Ltd., The Oriental Insurance Company Ltd. and United India Insurance Company Ltd.
The Bank today is capitalized to the extent of Rs. 359.76 crores with the public holding (other than promoters) at 57.79%.
The Bank's Registered Office is at Ahmedabad and its Central Office is located at Mumbai. The Bank has a very wide network of more than 853 branches and Extension Counters (as on 30th June 2009). The Bank has a network of over 3723 ATMs (as on 30th June 2009) providing 24 hrs a day banking convenience to its customers. This is one of the largest ATM networks in the country.
The Bank has strengths in both retail and corporate banking and is committed to adopting the best industry practices internationally in order to achieve excellence.
Key Personnel: Smt. Shikha Sharma Managing Director & CEO Shri M. M. Agrawal Deputy Managing Director (Designate)
Promoters
Axis Bank Ltd. has been promoted by the largest and the best Financial Institution of the country, UTI. The Bank was set up with a capital of Rs. 115 crore, with UTI contributing Rs. 100 crore, LIC - Rs. 7.5 crore and GIC and its four subsidiaries contributing Rs. 1.5 crore each.
SUUTI - Shareholding 27.02%
Customer Service and Product Innovation tuned to diverse needs of individual and corporate clientele.
Continuous technology upgradation while maintaining human values.
Progressive globalization and achieving international standards.
Efficiency and effectiveness built on ethical practices.
Core Values
Customer Satisfaction through
o Providing quality service effectively and efficiently
o "Smile, it enhances your face value" is a service quality stressed on
o Periodic Customer Service Audits
Maximisation of Stakeholder value
Success through Teamwork, Integrity and People
Financial Highlights
Rapid Growth in the Bank’s core businesses
o Total Net Advances grow 28% yoy to Rs. 78,105 crores
o Total Investments grow 30% yoy to Rs. 46,328 crores
o Total Assets register a 24% yoy growth, rising to Rs. 1,41,142 crores
o Fees grow by 17% yoy, rising to Rs. 626.63 crores
o Share of demand deposits in total deposits at 40%
Retail Assets grow by 15% yoy to Rs. 16,780 crores; constitute 21% of total advances, as compared to 24% as on end June ’08
Net NPAs at 0.41%, compared to 0.47% as at end June ’08
At end June ’09, Book Value per share was Rs. 299.76, compared to Rs. 254.42 as at end June ’08
Capital Adequacy at 15.28% with Tier – I capital at 9.39%