About the Company
Axis Bank is one of the first new generation private sector banks to have begun operations in 1994. The Bank was promoted in 1993, jointly by Specified Undertaking of Unit Trust of India (SUUTI) (then known as Unit Trust of India), Life Insurance Corporation of India (LIC), General Insurance Corporation of India (GIC), National Insurance Company Ltd., The New India Assurance Company Ltd., The Oriental Insurance Company Ltd. and United India Insurance Company Ltd. The share holding of Unit Trust of India was subsequently transferred to SUUTI, an entity established in 2003.
Axis Bank is the third largest private sector bank in India. The Bank has a large footprint of various domestic branches (including extension counters) with huge numbers of ATMs & cash recyclers spread across the country. The overseas operations of the Bank are spread over different international offices with branches at various Cities. The international offices focus on corporate lending, trade finance, syndication, investment banking and liability businesses.
Business area of the bank
The Bank offers the entire spectrum of financial services to customer segments covering Large and Mid-Corporates, MSME, Agriculture and Retail Businesses.
Product and services
- Start a SIP
Agri and Rural
- Rural Banking
- Financial Inclusions
Awards and Recognition
- Best Debt House in India - Euromoney 2010.
- Best Domestic Debt House in India - Asiamoney 2010.
- Best Bond House in India - Financeasia 2010.
- Best New Private Sector Bank. Rank 2-FE Best Banks Award 2010.
- The Best of Asia-Pacific's Biggest Listed Companies- second year in a row - Forbes Fab 50.
- The AssetAwards 2010:Best Domestic Bank, India.
- Bank of the Year-India -The Banker Awards 2011.
- Best Bank in the Private Sector-NDTV Profit Business Leadership Awards 2011.
- Best Bank-Outlook Money Awards 2011.
- The Best Domestic Bank-India-The Asset Triple A Country Awards 2011.
- Most Productive Private Sector Bank-Fl BAC 2011 Banking Awards.
- 3rd Strongest Bank in Asia -Pacific Region bv Asian Banker.
- Bank of the Year-Money Today FPCIL Awards 2012-13.
- Best Bank-CNBC-TV18 India's Best Bank and Financial Institution Awards 2012.
- Best Bank-Runner Up-Outlook Money Awards 2012.
- Consistent Performer-India's Best Banks-2012 Survey by Business Today & KPMG.
- Fastest Growing Large Bank-Dun & Bradstreet-Polaris Financial Technology Banking Awards 2012.
- Fastest Growing Large Bank-Businessworld Best Banks Survey 2012.
- Axis Bank voted for Most Trusted Private Sector Bank in the country in the Most Trusted Brands survey 2013 by Brand Equity.
- Axis Bank ranked No 1 bank in India in both Primary & Secondary market of corporate bonds-The Asset Benchmark Research.
- Best Debt House in India-Euromoney Awards for Excellence 2013.
- Axis Bank ranked No 1 company to work for in the BFSI sector - 'The Best Companies to Work for' survey by Business Today.
- Gold Shield for third year in a row for Excellence in Financial Reporting in the Private Sector Banks category for the year 2013-14 - ICAI (Institute of Chartered Accountants of India).
- Axis Bank wins 'Bank of the Year in India' for the year 2014- Banker Magazine. Financial Times.
- Axis Bank Foundation conferred Outstanding Corporate Foundation at Forbes India. Philanthropy Awards, 2014.
- Axis Bank conferred the Certificate of Recognition for excellence in Corporate Governance by the Institute of Company Secretaries of India (ICSI), for the year 2015.
- Axis Bank recognised as a winner amongst Large Banks category for excellent performance in IMPS - National Payments Excellence Awards 2015.
- Axis Bank wins 'Best Loyalty Program of the year' for the second year in a row, 9th Loyalty Awards 2016.
- Axis Bank has won the 'Best Performing Private Bank' award at the Financial Advisor Awards 2015-16.
- Axis Bank wins 'Best Reward Program of the year' for the second year in a row, 9th Loyalty Awards 2016.
- Axis Bank wins the 'Affinity/Bank Partner of the year'-at the Asia Trusted Life Agents & Advisers Awards 2016, by Asia Insurance Review.
- Axis Banks wins the 'Best Use of Mobile within a Loyalty Strategy' at the Loyalty Awards 2017.
- Axis Bank wins the 'Best Use of Partnership in a Loyalty Program' at the Loyalty Awards 2017.
- Axis Bank wins the 'Best Rewards Program' for the 3rd consecutive year at the Loyalty Awards 2017.
- Axis Bank has been adjudged the Runner Up in the category of the Best Use of Digital and Channels Technology amongst Large Banks by the IBA Banking Technology Awards 2017.
- Axis Bank wins Best Debt Arranger on Electronic Bidding Platform at the NSE Market Achievers Awards.
- Axis Bank won the BW Businessworld 6th Smart Cities Conclave & Mega Awards for the Best Mobile App.
- Axis Bank wins the Best Loyalty Program in Financial Sector - Banking at the Customer Loyalty Awards 2018.
- Axis Bank wins the Best Rewards Program for the 4th consecutive year at the Customer Loyalty Awards 2018.
- Axis wins the Champion of Champions - Loyalty Program of the Year at the Customer Loyalty Awards 2018.
- Axis Bank wins the Best Contact Centre at the Customer Experience Awards 2018.
- Axis Bank wins 'Best Masala Bond' at The Asset Country Awards.
- Axis Bank wins for 'Excellence in Operations' at the International Data Corporation (IDC) Insights Awards, 2019.
- Axis Bank wins 'Top Sell-side Firm in Secondary Market' and 'Top Arrangers - Investors' Choice for Primary Issues' at The Asset Benchmark Research Awards, 2019.
- Axis Bank wins in the 'Data Science/AI in BFSI' category at the Cypher Analytics Awards, 2019.
- Axis Bank wins Financial Inclusion Initiative of the Year at the Asian Banking & Finance Awards, 2019.
- Axis Bank wins for the Best Cyber Security Project, Best Financial Al Project & Best Risk Management Project at The Asset Digital Awards.
- Axis Bank wins for the Best Use of IT in Risk Management/Fraud Prevention at The Dun & Bradstreet BankTech Awards.
- Axis Bank wins for Best Banking Technology at The IAMAI Digital Awards.
- Axis Bank wins for Innovation at The Finnoviti Awards.
History and Milestones
- 1993: Registered office at Ahmedabad; Head office at Mumbai
- 1993: UTI Bank comes into being
- 1994: First branch of UTI Bank inaugurated at Ahmedabad by Dr. Manmohan Singh, Hon'ble Finance Minister, Government of India.
- 1995: Completes first profitable year in operation.
- 1996: Crosses Rs 1000 crore deposit mark.
- 1998: UTI Bank goes public with a Rs 71 crore public issue; Issue over-subscribed 1.2 times, over 1 lakh retail investors. UTI holding reduces to 60.85%.
- 1999: Deposits cross Rs 3000 crore.
- 1999: Cash management services (CMS) launched, Co branded credit card launched.
- 2000: Dr.P.J Nayak takes over as Chairman and Managing Director from Shri Supriya Gupta.
- 2000: Bank adopts Finacle software from Infosys for core banking.
- 2000: Profits cross Rs 50 crore mark for the first time.
- 2000: Bank launches its Internet banking module, iConnect Retail loans introduced for the first time by the Bank.
- 2000: UTI Bank calls off its proposed merger with Global Trust Bank and surges ahead on its own.
- 2000: Financial Advisory Services offered beginning with marketing of US 64.
- 2000: E-commerce initiatives announced.
- 2000: Bank becomes fully networked.
- 2000: Bank opens its 200th ATM. It becomes the 2nd largest ATM network in the country, a position held even today.
- 2001: Bank ties up with Govt of Andhra Pradesh for collection of commercial tax.
- 2001: Bank signs MoU with India Post for introducing value added financial products and services to customers of both organizations, including setting up of UTI Bank ATMs in post offices.
- 2001: Private placement of 26% stake in the Bank to CDC Capital Partners. UTI holding reduces to 44.88%.
- 2001: The deposit base for the Bank crosses Rs 10,000 crore.
- 2001: Total Advances cross Rs 5,000 crore.
- 2002: The Bank opens an ATM at the Gol Dak-Khana, i.e. the New Delhi GPO, making it the first instance of a commercial bank setting up an ATM at any post-office in the country.
- 2002: Bank launches Corporate iConnect - the Internet Banking facility for corporates.
- 2002: Bank signs MoU with BSNL regarding bill collection services across the country through both online and offline channels.
- 2002: Bank opens its 500th ATM.
- 2002: Deposits Cross Rs 12,000 crore.
- 2002: The Bank's 100th branch opens at Tuticorin, Tamilnadu.
- 2003: Bank inaugurated its ATM at Thegu near the Nathula Pass in Sikkim. This ATM is at the highest altitude in India.
- 2003: The Bank's ATMs across the country crosses the thousand mark.
- 2003: Bank launches the Travel Currency Card.
- 2003: The Bank's Debit Card crosses the one million mark.
- 2003: Total Advances cross Rs 7,000 crore.
- 2003: Bank declares a net profit of Rs 192.18 crore for FY03, a growth of 43% over the previous year.
- 2003: Bank signs Agreement with Employees Provident Fund Organization (EPFO) for disbursement of Pension.
- 2003: Bank crosses the 800 ATM mark.
- 2003: Bank wins mandate to set up 14 ATMs at the Western Railway stations along the Mumbai division.
- 2004: UTI Bank enables premium payment of LIC policies through its ATMs.
- 2004: Bilateral arrangement between State Bank of India (and its 7 associate member banks) and UTI Bank comes into force with the commencement of operations (as on February 3, 2004) of the combined network of over 4000 ATMs.
- 2004: UTI Bank (by pursuing a proactive strategy of forging bilateral agreements and being a progressive player in the multi-lateral consortiums for shared ATM network) offers its customers access to over 7000 ATMs across the country - the largest to be offered by any bank in India so far.
- 2005: UTI Bank wins International Financing Review (IFR) Asia 'India Bond House' award for the year 2005.
- 2005: UTI Bank extends banking services to the rural milk producers in Anand and Kheda districts in Gujarat.
- 2005: UTI Bank and Visa International launch Mobile Refill facility - Anytime, Anywhere Pre-Paid Mobile Refill for all Visa Cardholders in India
- 2005: UTI Bank and Bajaj Allianz join hands to distribute general insurance products.
- 2005: UTI Bank launches Smart Privilege - a special bank account designed for women.
- 2005: MTNL ties up with UTI Bank for payment of telephone bills through the Bank's ATM network.
- 2005: UTI Bank gets listed on the London Stock Exchange, raises US$ 239.30 million through Global Depositary Receipts (GDRs).
- 2005: UTI Bank appointed by Government of Karnataka as the sole banker for the Bangalore One (B1) project.
- 2005: UTI Bank launches a powerful version of Kisan Credit Card.
- 2005: Bank ties up with Remit2India to launch the Remittance Card.
- 2006: UTI Bank opens Priority Banking Lounge in Pune.
- 2006: UTI Bank launches operations of UBL Sales, its Sales Subsidiary - Inaugurates its first office in Bangalore.
- 2006: UTI Bank announces the launch of its Credit Card Business
- 2006: UTI Bank becomes the first Indian Bank to successfully issue Foreign Currency Hybrid Capital in the International Market.
- 2006: UTI Bank Business Gold Debit Card MasterCard Launched - Designed for business related spending by SMEs and self employed professionals
- 2006: UTI Bank announces the scheme of issuance of 'Senior Citizen ID Card' in association with Dignity Foundation.
- 2006: UTI Bank rolls out its 2000th ATM.
- 2006: UTI Bank opens Representative Office in Shanghai.
- 2006: UTI Bank and LIC join hands to launch an Annuity Card for group pensioners of LIC.
- 2006: UTI Bank ties up with Geojit Financial Services to offer Online Trading service to its customers.
- 2006: UTI Bank opens its first international branch in Singapore.
- 2006: UTI Bank and UTI Mutual Fund to launch a new service for sale and redemption of mutual fund schemes through the Bank's ATMs across the country.
- 2007: UTI Bank successfully raises $1050 million
- 2007: UTI Bank ties up with Tata Motors Ltd. for Car Loans.
- 2007: UTI Bank's expansion into Asia supported by FRS.
- 2007: UTI Bank launches 'Spice Rewards' on the bankcards - India's first-ever merchant-supported rewards program.
- 2007: UTI Bank opens a Financial Services Category I Branch in the DIFC in Dubai.
- 2007: UTI Bank ties up with Hyundai Motor India Ltd. for Car Loans.
- 2007: UTI Bank ties up with IIFCL to provide finance for infrastructural projects in the country.
- 2007: UTI Bank launches Car Loans in association with Maruti Udyog Ltd.
- 2007: UTI Bank opens a Full Licence Bank Branch in Hong Kong.
- 2007: Finance Minister Shri P. Chidambaram Launches Shriram - UTI Bank Co - Branded Credit Card Exclusively For Small Road Transport Operators (SRTOS).
- 2007: UTI Bank announces the launch of its Meal Card.
- 2007: UTI Bank announces the launch of its Gift Card.
- 2007: LIC Premium payment now through UTI Bank Branches.
- 2007: UTI bank opens Priority Banking branch in Mumbai and Kolkata.
- 2007: UTI Bank re-brands itself as Axis Bank.
- 2007: Axis Bank gets AAA National Long-Term Rating from Fitch Ratings.
- 2007: Axis Bank ties up with Banque Privée Edmond de Rothschild Europe for Wealth Management.
- 2008: Axis Bank launches Platinum Credit Card, India's first EMV chip based card.
- 2009: Board of the bank recommended the appointment of Shikha Sharma, head of ICICI Prudential Life Insurance Co. Ltd, as its managing director and chief executive officer.
- 2010: Axis Bank enters a deal to buy the investment banking and equities units of Enam Securities.
- 2011: Launches India travel card - India's first and only Indian currency prepaid travel card for foreign nationals.
- 2012: Reached 2 lakh installed EDC machines- the highest for any bank in India.
- 2012: Becomes the first Bank in the world to reach $2 billion loading on prepaid Travel CurrencyCards.
- 2013-Axis Bank voted for Most Trusted Private Sector Bank in the country in the Most Trusted Brands survey 2013 by Brand Equity.
- 2014: First Indian Private sector Bank set up a branch in china.
- 2014: Axis Securities launches AxisDirect Investment Kit to help investors manage money simpler.
- 2014: Axis Bank launches e-surveillance facility at ATM locations.
- 2014: Axis Bank opens its first 'All Women Branch' at Patna, Bihar.
- 2015: Axis Bank launches free Wi Fi service at its branches.
- 2015: Axis Bank Introduces Its Most Premium Banking Service, Burgundy By Axis Bank.
- 2015: Axis Bank launches tablet-based financial planning app with Max Life Insurance.
- 2015: Axis Bank launches 'Axis Bank Suvidhaa Prepaid Card'.
- 2015: Axis Bank launches Secure+ Debit Card.
- 2015: Axis Bank enables its Mobile Banking customers to seamlessly transact with Apple’s ‘Touch ID’.
- 2015: Axis Bank and Vistara join hands to introduce cobranded credit card.
- 2015: Axis Bank opens its representative office in Dhaka to strengthen its International presence.
- 2016: Axis Bank launches India’s first cobranded multi-currency forex card with INR Wallet.
- 2016: Axis Bank Launches Thought Factory an Innovation Lab to Drive FinTech Innovation.
- 2016: Axis Bank & Suvidhaa roll out 'Nano Credit'.
- 2016: Axis Bank amongst the 1st to launch Bharat Bill Payment System.
- 2017: Axis Bank and Kochi Metro joined hands to launch India’s first single-wallet contactless, open loop metro card.
- 2017: Axis Bank and Wells Fargo enter into bilateral arrangement to offer remittance facility to US-based NRI customers.
- 2017: Axis Bank launches Axis OK - a lite, multilingual, non-data app for basic banking services.
- 2017: Axis Bank forays into the Super Bike loans segment.
- 2017: Axis Bank acquires FreeCharge.
- 2017: Axis Bank included in FTSE4Good Emerging Index.
- 2017: Axis Bank launches ‘Axis Start-up Social’.
- 2018: Axis Bank opens IFSC Banking Unit (IBU) at GIFT City Multi-services SEZ.
- 2018: Introducing ‘Axis Aha!’--An AI-led Virtual Assistant to Enhance Online Customer Experience.
- 2018: Axis Bank partners with Venture Catalysts to provide specialized banking services to Startup.
- 2018: Axis Bank partners with India Mortgage Guarantee Corporation (IMGC) to expand its Affordable Housing loan segment.
- 2018: Axis Bank’s prepaid Forex Card sales crosses $10 billion; an industry-first milestone.
- 2019: Kia Motors ties up with Axis Bank to offer Banking & Financing solutions to its customers.
- 2019: Axis Bank inaugurates its 4000th Branch in Pune.
- 2019: Flipkart, Axis Bank Launch Co-Branded Credit Card powered by Mastercard.
- 2019: Freecharge forays into Digital Credit Cards powered by Axis Bank.
- 2019: Axis Bank launches MAGNUS credit card, strengthening its Premium Cards portfolio.
- 2019: Axis Bank offers Free Door-step delivery of FASTags and anytime-anywhere recharge.
- 2019: Axis Bank launches ‘Burgundy Private’- its private banking platform.
- 2020: Axis Bank ropes in the untapped Education sector on BBPS Digital platform.
- 2020: Mastercard, Axis Bank and Worldline launch Soft POS to enable smartphones to be used as POS devices.
- 2020: Maruti Suzuki partners with Axis Bank for easy finance solutions.
- 2020: Axis Bank unveils AXAA--an AI powered conversational banking IVR.
- 2020: Axis Bank Launches Full Power Digital Savings Account With Video Kyc And Instant E Debit Card.
|Parent Organisation||Axis Bank Ltd.||Managing Director||Amitabh Chaudhry|