Axis Bank Profile
Axis Bank Limited provides various financial products and services.
The company continues to build its offline distribution through its expansion in rural and semi-urban markets under Bharat Banking. In addition, the company is ramping up its digital capabilities to expand its reach through multiple channels.
The company's banking solutions are easily accessible to millions of customers at any place and all the time. Under the One Axis umbrella, the company offers a universal banking platform catering to diverse business segments. The company's products and services are integrated to provide a wide range of value propositions for its customers across the board. The company offers tailored solutions for their financial needs.
The company's branch network is well-distributed across the urban, 'rural, and semi-urban' (RuSu) regions of India. The company has an international presence through branches in DIFC (Dubai) and Singapore, representative offices in Bangladesh (Dhaka) and the UAE (Abu Dhabi, Dubai and Sharjah) and an offshore banking unit in GIFT City.
The company's retail lending franchise continues to deliver sustained growth across segments with higher growth across higher yielding focus segments. The company delivered strong performance with retail disbursements touching new all-time high in fiscal 2023 that led to strong growth in retail advances, which constitute 58% of the overall Bank advances.
The company is building new customer-centric products, customizing propositions for the rural customers, enabling products through policy framework, improving the coverage of products and making the product suite comprehensive for the RuSu customers.
Under the 'One Axis' umbrella, the company provides comprehensive products and solutions through its business segments and subsidiaries. Investments, broking, asset management, insurance, MSME digital invoice discounting platform, trustee services and payments in addition to services provided by banking segments.
Segments
The company operates through four segments: Treasury, Retail Banking, Corporate/Wholesale Banking, and Other Banking Business.
Treasury
The Treasury segment is involved in investments in sovereign and corporate debt, and equity and mutual funds, as well as in trading operations, derivative trading, and foreign exchange operations. The company's Treasury & Markets function consists of Asset Liability Management (ALM), Forex Trading group (including Currency Derivatives & Bullion), Interest Rate Trading (IRT) (including Rupee Derivatives) & Primary Dealership, Non SLR Trading (including Equity), Debt Capital Markets - DCM (Domestic DCM &International DCM), Treasury Sales, Loan Syndication and Treasury Technology & Governance team.
Retail Banking
The Retail Banking segment engages in the provision of lending services to individuals/small businesses, liability products, card services, internet banking, mobile banking, ATM services, depository, financial advisory services, NRI services, and digital banking services.
The company's retail franchise focuses on deepening its connect with individuals, small businesses and Bharat customers by offering innovative products and transformation initiatives, through its branches and mobile app. Loans, savings and retail term deposits, credit, debit and forex cards, bill payment services, wealth management and third-party products distribution such as life and non-life insurance, mutual funds, government bonds, etc.
Corporate/Wholesale Banking
The Corporate/Wholesale Banking segment offers corporate advisory, placements and syndication, project appraisals, trade finance products, letter of credits, bank guarantees, commercial cards, and cash management services. The company meets the banking needs of Indian corporates and MSMEs, leveraging its strong value proposition in transaction banking and digital transformation. Loans, current and corporate term deposits, payments, trade finance products, letter of credits, bank guarantees, foreign exchange, derivatives, cash management services and commercial cards.
Other Banking Business
The Other Banking Business segment is involved in para banking activities. It also offers life and non-life insurance products; and government small saving schemes and pension schemes.
Strategy
The company's strategy is to grow deposits materially to fund loan growth; step up growth in Wholesale Bank; continue momentum in Retail Bank; establish leadership in digital and payments; and scale-up subsidiaries materially. The company's strategy to drive higher business growth and increase market share from rural and semi urban (RuSu) markets made strong progress.
Deposits
The company offers savings bank deposits, current account deposits, and term deposits.
History
The company was incorporated in 1993. The company was formerly known as UTI Bank Limited and changed its name to Axis Bank Limited in 2007.
