Axis Bank Limited is an Indian private sector bank headquartered in Mumbai, Maharashtra. It is among the largest private banks in India, offering a wide range of financial services to retail customers, small and medium enterprises, and large corporates. The bank operates an extensive network of branches and automated teller machines across India and maintains a presence in select international financial centres.
| Key facts | |
|---|---|
| Type | Private sector bank |
| Industry | Banking, financial services |
| Headquarters | Mumbai, Maharashtra, India |
| Country | India |
| Former name | UTI Bank |
| Sector | Indian private sector banking |
Background
Axis Bank was originally incorporated as UTI Bank, established in the 1990s as part of the liberalisation of India's banking sector that allowed for the entry of new private banks. The bank was promoted by institutions associated with the Unit Trust of India (UTI), along with other public sector financial institutions including the Life Insurance Corporation of India (LIC) and General Insurance Corporation of India (GIC) and its subsidiaries.
In 2007, the bank was renamed Axis Bank to differentiate its corporate identity from the Unit Trust of India brand following the restructuring of UTI. The change in name was accompanied by a fresh brand identity while the bank retained its existing customer base and operations.
Operations
The bank's services span retail banking, corporate banking, treasury operations, investment banking, lending, deposits, payments, foreign exchange, and wealth management. Through subsidiaries, the Axis group is also active in capital markets, asset management, securities broking, and trustee services.
Axis Bank operates a network of branches and ATMs across India, with services extended to semi-urban and rural areas. Internationally, it has a presence through branches and offices in financial centres outside India, supporting trade finance, remittance, and corporate banking activities.
Subsidiaries
- Axis Capital — investment banking and institutional equities
- Axis Securities — retail broking
- Axis Asset Management Company — mutual funds (Axis Mutual Fund)
- Axis Finance — non-banking financial services
- Axis Trustee Services
Listing and ownership
Axis Bank is a publicly listed company, with its equity shares traded on the National Stock Exchange of India (NSE) and the BSE. Its shareholders include Indian financial institutions, foreign institutional investors, mutual funds, and retail investors. The Specified Undertaking of the Unit Trust of India (SUUTI), LIC, and other domestic institutions have historically been among its significant shareholders.
Significance
Axis Bank is generally counted among the leading private sector banks in India, alongside HDFC Bank, ICICI Bank, and Kotak Mahindra Bank. It plays a notable role in retail credit, digital banking, payments infrastructure, and corporate finance in the Indian financial system. The bank has also participated in the expansion of digital payment services in India, including those built on the Unified Payments Interface (UPI).
Related topics
- Banking in India
- Reserve Bank of India
- Unit Trust of India
- HDFC Bank
- ICICI Bank
- Kotak Mahindra Bank
- List of banks in India
- Bombay Stock Exchange
- National Stock Exchange of India
References
- Wikidata: Axis Bank (Q2003549)
- Reserve Bank of India — list of scheduled commercial banks
- Securities and Exchange Board of India (SEBI) filings and stock exchange disclosures