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Updated:03 Dec, 2021, 15:59 PM IST

Change Change %
-3.10 -0.46%

Updated:03 Dec, 2021, 16:00 PM IST

Axis Bank established in 1993 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.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.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 shareholding of Unit Trust of India was subsequently transferred to SUUTI, an entity established in 2003.

Erstwhile Unit Trust of India was set up as a body corporate under the UTI Act, 1963, with a view to encourage savings and investment. In December 2002, the UTI Act, 1963 was repealed with the passage of Unit Trust of India (Transfer of Undertaking and Repeal) Act, 2002 by the Parliament, paving the way for the bifurcation of UTI into 2 entities, UTI–I and UTI–II with effect from 1st February 2003. In accordance with the Act, the Undertaking specified as UTI I has been transferred and vested in the Administrator of the Specified Undertaking of the Unit Trust of India (SUUTI), who manages assured return schemes along with 6.75% US–64 Bonds, 6.60% ARS Bonds with a Unit Capital of over Rs. 14167.59 crores.

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.

Axis Bank entered a deal in November 2010 to buy the investment banking and equities units of Enam Securities for $456 million. Axis Securities, the equities arm of Axis Bank, will merge with the investment banking business of Enam Securities.As per the deal, Enam will demerge its investment banking, institutional equities, retail equities and distribution of financial products, and non–banking finance businesses and merge them with Axis Securities.

Services offered by the bank:

  • Personal Banking
  • Corporate Banking
  • NRI Banking
  • Priority Banking
  • VBV – Online purchases using Credit Card
  • VBV / MSC – Online purchases using Debit Card


  • 2013–Axis Bank voted for Most Trusted Private Sector Bank in the country in the Most Trusted Brands survey 2013 by Brand Equity.
  • 2012 –Reached 2 lakh installed EDC machines – the highest for any bank in India
    Becomes the first Bank in the world to reach $2 billion loading on prepaid Travel CurrencyCards
  • 2011– Launches India travel card – India's first and only Indian currency prepaid travel card for foreign nationals
  • Nov–10– Axis Bank enters a deal to buy the investment banking and equities units of Enam Securities
  • April–09 –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.
  • Mar–08 – Axis Bank launches Platinum Credit Card, India's first EMV chip based card
  • Dec–07 – Axis Bank gets AAA National Long–Term Rating from Fitch Ratings
  • Sept–07 – Axis Bank ties up with Banque Privée Edmond de Rothschild Europe for Wealth Management
  • July–07 – UTI Bank re–brands itself as Axis Bank
  • July–07 – UTI Bank successfully raises USD 1050 million
  • July–07 – UTI Bank ties up with Tata Motors Ltd. for Car Loans
  • June–07 –UTI Bank's expansion into Asia supported by FRS
  • May–07 – UTI Bank launches 'Spice Rewards' on the bankcards – India's first–ever merchant–supported rewards program
  • April–07 – UTI Bank opens a Financial Services Category I Branch in the DIFC in Dubai
  • Mar–07 – UTI Bank ties up with Hyundai Motor India Ltd. for Car Loans
  • Mar–07 – UTI Bank ties up with IIFCL to provide finance for infrastructural projects in the country
  • Mar–07 – UTI Bank launches Car Loans in association with Maruti Udyog Ltd
  • Mar–07 – UTI Bank opens a Full Licence Bank Branch in Hong Kong
  • Feb–07 – Finance Minister Shri P. Chidambaram Launches Shriram – UTI Bank Co – Branded Credit Card Exclusively For Small Road Transport Operators (SRTOS)
  • Feb–07 – UTI Bank announces the launch of its Meal Card
  • Feb–07 – UTI Bank announces the launch of its Gift Card
  • Feb–07 LIC Premium payment now through UTI Bank Branches
  • Jan–07 – UTI bank opens Priority Banking branch in Mumbai and Kolkata
  • Nov–06 – UTI Bank opens Priority Banking Lounge in Pune
  • Sep–06 – UTI Bank launches operations of UBL Sales, its Sales Subsidiary – Inaugurates its first office in Bangalore
  • Aug–06 – UTI Bank announces the launch of its Credit Card Business
  • Aug–06 – UTI Bank becomes the first Indian Bank to successfully issue Foreign Currency Hybrid Capital in the International Market
  • Aug–06 – UTI Bank Business Gold Debit Card MasterCard Launched – Designed for business related spending by SMEs and self employed professionals
  • Aug–06 – UTI Bank announces the scheme of issuance of 'Senior Citizen ID Card' in association with Dignity Foundation
  • Aug–06 – UTI Bank rolls out its 2000th ATM
  • July–06 – UTI Bank opens Representative Office in Shanghai
  • May–06 – UTI Bank and LIC join hands to launch an Annuity Card for group pensioners of LIC
  • May–06 – UTI Bank ties up with Geojit Financial Services to offer Online Trading service to its customers
  • Apr–06 – UTI Bank opens its first international branch in Singapore
  • Jan–06 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
  • Dec–05 – UTI Bank wins International Financing Review (IFR) Asia 'India Bond House' award for the year 2005
  • Oct–05 – UTI Bank extends banking services to the rural milk producers in Anand and Kheda districts in Gujarat
  • July–05 – UTI Bank and Visa International launch Mobile Refill facility – Anytime, Anywhere Pre–Paid Mobile Refill for all Visa Cardholders in India
  • May–05 – UTI Bank and Bajaj Allianz join hands to distribute general insurance products
  • Apr–05 – UTI Bank launches Smart Privilege – a special bank account designed for women
  • Mar–05 – MTNL ties up with UTI Bank for payment of telephone bills through the Bank's ATM network
  • Mar–05 – UTI Bank gets listed on the London Stock Exchange, raises US$ 239.30 million through Global 
  • Mar–05 – Depositary Receipts (GDRs) 
  • Feb–05 – UTI Bank appointed by Government of Karnataka as the sole banker for the Bangalore One (B1) project
  • Feb–05 – UTI Bank launches a powerful version of Kisan Credit Card
  • Jan–05 – UTI Bank ties up with Remit2India to launch the Remittance Card
  • Mar–04 – UTI Bank enables premium payment of LIC policies through its ATMs.
  • Feb–04 – 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 3rd February '04) of the combined network of over 4000 ATMs 
  • Feb–04 – 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.
  • Dec–03 – Bank inaugurated its ATM at Thegu near the Nathula Pass in Sikkim. This ATM is at the highest altitude in India.
  • Sep–03 – The Bank's ATMs across the country crosses the thousand mark
  • Sep–03 – Bank launches the Travel Currency Card.
  • Aug–03 – The Bank's Debit Card crosses the one million mark.
  • Aug–03 – Total Advances cross Rs 7,000 Crore.
  • May–03 – Bank declares a net profit of Rs 192.18 crores for FY03, a growth of 43% over the previous year 
  • Mar–03 – Bank signs Agreement with Employees Provident Fund Organization (EPFO) for disbursement of Pension
  • Mar–03 – Bank crosses the 800 ATM mark
  • Mar–03 – The Bank issues 3,83,62,834 fully paid up equity shares totaling to Rs. 164.00 crores, through a
  • Mar–03 – Preferential offer to Life Insurance Corporation of India (now constituting 13.54% of 
  • Mar–03 – The Bank's expanded equity), Citicorp Banking Corporation, Bahrain (holding 3.84%), ChrysCapital I, 
  • Mar–03 – LLC, Mauritius (holding 3.84%) and Karur Vysya Bank Ltd.(constituting 1.00%) The Bank also
  • Mar–03 – Increases the authorised share capital of the Bank from Rs. 230 crores to Rs. 300 crores.
  • Feb–03 – Bank, in a pioneering move, launches the AT PAR Cheque facility, free of cost, for all its Savings Bank customers.
  • Feb–03 – Bank wins mandate to set up 14 ATMs at the Western Railway stations along the Mumbai division.
  • Oct–02 – Bank launches Corporate iConnect? – the Internet Banking facility for Corporates
  • Aug–02 – Bank signs MoU with BSNL regarding bill collection services across the country through both online and offline channels.
  • Apr–02 – Bank opens its 500th ATM
  • Mar–02 – Deposits Cross Rs.12, 000 Crore
  • Jan–02 – The Bank's 100th branch opens at Tuticorin,Tamilnadu
  • Jan–02 – 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. 
  • Dec–01 – Total Advances cross Rs 5,000 Crore
  • Nov–01 – The deposit base for the Bank crosses Rs. 10,000 Crore
  • Sep–01 – Private placement of 26% stake in the Bank to CDC Capital Partners. UTI holding reduces to 44.88%
  • Aug–01 – 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.
  • July–01 – Bank ties up with Govt of Andhra Pradesh for collection of commercial tax
  • Dec–00 – Bank opens its 200th ATM. It becomes the 2nd largest ATM network in the country, a position held even today.
  • Oct–00 – Bank becomes fully networked
  • July–00 – E–commerce initiatives announced
  • July–00 – Financial Advisory Services offered beginning with marketing of US 64
  • Apr–00 – UTI Bank calls off its proposed merger with Global Trust Bank and surges ahead on its own.
  • Apr–00 – Bank launches its Internet banking module, iConnect Retail loans introduced for the first time by the Bank
  • Mar–00 – Profits cross Rs 50 crore mark for the first time.
  • Feb–00 – Bank adopts Finacle software from Infosys for core banking
  • Jan–00 – Dr.P.J Nayak takes over as Chairman and Managing Director from Shri Supriya Gupta.
  • Sep–99 – Cash management services (CMS) launched, Co branded credit card launched
  • Mar–99 – Deposits cross Rs.3000 crores
  • Sep–98 – 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%
  • Jun–96 – Crosses Rs.1000 crore deposit mark
  • Mar–95 – Completes first profitable year in operation
  • Apr–94 – First branch of UTI Bank inaugurated at Ahmedabad by Dr. Manmohan Singh, Hon'ble Finance Minister, Government of India.
  • Dec–93 – UTI Bank comes into being
  • Dec–93 – Registered office at Ahmedabad; Head office at Mumbai

Awards /Achievements:

  • Axis bank was awarded Best bank award in the private sector category at NDTV Profit Business Leadership Awards 2008.
  • Axis Bank was awarded Best Debt House – India award at Euromoney 2008.
  • The bank was honoured Best Bond House in India award at The Finance Asia 2008.
  • Axis Bank was awarded Best Domestic Debt House award at  the Asia Money 2008.
  • Business World ,Best Bank Awards– Fastest Growing Large Bank
  • Business Today,Best Bank Awards – India's Best Bank, India's Fastest Growing Bank, India's Most Consistent Bank
  • ET Intelligence Group–Best Bank 2009
  • NDTV Profit Business Leadership Awards 2009 –Best bank Private Sector
  • Forbes Fab 50–The Best of Asia Pacific's Biggest Listed Company
  • FE Best Banks Award–Best New Private Sector bank,Rank 1 Talisma – Customer Appreciation Award 2009
  • D & B Best Bank Awards – Best Private Bank
  • Lafferty Award – Best Annual Report–India
  • 1.Bank of the Year – India –The Banker Awards 2011
    2.Best Bank in the Private Sector – NDTV Profit Business Leadership Awards 2011
    3.Best Bank – Outlook Money Awards 2011
    4.The Best Domestic Bank – India – The Asset Triple A Country Awards 2011
    5.Fastest Growing Bank – Bloomberg UTV Financial Leadership Awards 2012
    6.Most Productive Private Sector Bank– FIBAC 2011 Banking Awards
    7.3rd Strongest Bank in Asia –Pacific Region by Asian Banker
    8.Brand Excellence Award– 2011(BFSI Sector) – Star News
    9.Most Preferred Bank amongst retail consumers – CLSA survey on personal banking trends
    10.Best Bond House India – 2011 by Finance Asia
    11.Best Risk Master award – (Private Sector Category) – FIBAC 2011 Banking Awards
  • 1.Bank of the Year – Money Today FPCIL Awards 2012–13
    2.Best Bank – CNBC–TV18 India’s Best Bank and Financial Institution Awards 2012
    3.Best Bank – Runner Up – Outlook Money Awards 2012
    4.Consistent Performer – India’s Best Banks – 2012 Survey by Business Today & KPMG
    5.Fastest Growing Large Bank – Dun & Bradstreet – Polaris Financial Technology Banking Awards 2012
    6.Fastest Growing Large Bank – Businessworld Best Banks Survey 2012
    7.Best Domestic Bond House – The Asset Triple A Country Awards 2012 – Our Bank has been honored with this award for the third year in a row.
    8.India Bond House of the year – IFR ASIA – Country Awards 2012
    9.Deal Maker of the Year in Rupee Bonds – Businessworld Magna Awards – India's Best Deal Makers 2012
    10.The Best Emerging Bullion Dealing Bank – 9th India International Gold Convention–2011–12
    11.Best Acquiring Institution in South Asia – Visa LEADER Award at Visa’s 2012 APCEMEA Security Summit, Bali
    12.Gold Shield for Excellence in Financial Reporting in the Private Banks category – 2011–12 – ICAI (Institute of Chartered Accountants of India)
  • 1.Axis Bank voted for Most Trusted Private Sector Bank in the country in the Most Trusted Brands survey 2013 by Brand Equity.
    2.Axis Bank ranked no. 1 bank in INDIA in both Primary & Secondary market of corporate bonds –The Asset Benchmark Research
    3.Best Debt House in India – Euromoney Awards for Excellence 2013
    4.Axis Bank ranked No 1 company to work for in the BFSI sector – 'The Best Companies to Work for' survey by Business Today
    5.Consistent Performer – India’s Best Banks – 2013 Survey by Business Today & KPMG
    6.Runner up for Best Bank category– Outlook Money Awards 2013
    7.Fastest Growing Large Bank – Business World – PWC Survey of India’s best banks 2013
    8.Banking frontiers Finnoviti 2013 Awards for ‘FxConnect’
    9.Ranked No 1 in the IT Biz Award – large enterprises category by Express IT Awards
    10.Innovation for 2013 for Ladies First card under ‘the Most Innovative Broad Based Product Offering’ category– IBA Innovations Award
    11.Axis Bank featured in Asia's Fab50 companies for 2013 by Forbes Asia
    12.Gold Shield for second year in a row for Excellence in Financial Reporting in the Private Banks category – 2012–13 – ICAI (Institute of Chartered Accountants of India)
    13.Second Runners Up for Best Financial Inclusion Initiative amongst Private Sector Banks– IBA Banking Technology Awards 2013
    14.Second Runners Up for Best Technology Bank of the Year amongst Private Sector Banks– IBA Banking Technology Awards 2013
    15.Second Runners Up for Best Risk Management & Security Initiative amongst Private Sector Banks– IBA Banking Technology Awards 2013
    16.Second Runners Up for Best Internet Bank amongst Private Sector Banks– IBA Banking Technology Awards 2013
  • Fastest Growing Large Bank– BW Businessworld Magna Awards 2014

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