This Is the Right to Invest In Axis Bank Axis Bank, established in 1993 and commencing operations in 1994, is India's third-largest private sector bank. It offers a comprehensive range of financial services to diverse customer segments, including large and mid-size corporates, MSMEs, agriculture, and retail businesses.
**Key Services:**
- **Retail Banking:** Provides lending services to individuals and small businesses, along with liability products, card services, internet banking, ATMs, depository services, financial advisory, and NRI services.
- **Corporate Banking:** Offers products and services related to transaction banking, including current accounts, cash management, capital market services, trade, foreign exchange, derivatives, cross-border trade, and correspondent banking services.
- **International Banking:** Focuses on corporate lending, trade finance, syndication, investment banking, and liability businesses through its international branches and representative offices.
**Branch Network:**
As of 31st March 2024, Axis Bank's extensive distribution network includes:
- 5,377 domestic branches and extension counters across 2,963 centers.
- 16,026 ATMs and cash recyclers nationwide.
- Six Axis Virtual Centres with over 1,590 Virtual Relationship Managers.
- International presence with branches in Singapore, Dubai (DIFC), and Gift City-IBU; representative offices in Dhaka, Dubai, Abu Dhabi, and Sharjah; and an overseas subsidiary in London, UK.
**Financial Highlights:**
As of 31st March 2024, the bank's balance sheet size stood at ₹14,77,209 crores, reflecting consistent growth with a 5-year compound annual growth rate (CAGR) of 13% in total assets and 15% each in advances and deposits.
**Leadership:**
- **Managing Director & CEO:** Amitabh Chaudhry
- **Deputy Managing Director:** Rajiv Anand
- **Executive Directors:** Subrat Mohanty and Munish Sharda
- **Chief Financial Officer:** Puneet Sharma
**Innovations and Achievements:**
Axis Bank has pioneered several technological advancements, including:
- Introducing 'open by Axis Bank,' a digital banking proposition offering approximately 250 features through a user-friendly interface.
- Launching the 'One-View' feature on its mobile app, enabling customers to manage finances across various banks seamlessly.
- Being the first bank to implement UPI interoperability on its CBDC App.
- Introducing digital US dollar fixed deposits for NRI customers at the IFSC Banking Unit in GIFT City, Gujarat.
- Launching "NEO for Business," a comprehensive digital proposition catering to the new-age banking needs of MSMEs.
- Adopting Generative AI by rolling out Microsoft Copilot across select user bases and a GenAI-based chatbot for approximately 60,000 users across branches, enhancing customer service efficiency and personalized banking experiences.
**Awards and Recognition:**
Axis Bank has received numerous accolades, including:
- Best Bank in India Award at the FT Bank of the Year 2024 Awards.
- IBSi Global Fintech Innovation Awards 2024 for Most Innovative use of AI/ML, Best Digital Channel/Platform Implementation, and Most Innovative Digital Onboarding rollout.
- FE India's Best Bank Awards 2024 for Best Digital Bank category.
- IDC India Future Enterprise Awards for Best in Future of Trust.
- Derivatives House of the Year (India) at the Asia Risk Awards 2024.
- ICC Emerging Asia Banking Awards 2024 for Best Bank in India (Private Sector - Large) and Best Private Bank (Large) in various performance categories.
- The Asset Triple A Sustainable Infrastructure Awards 2024 for Renewable Energy Deal of the Year (Wind).
- CNBC-TV18 India Risk Management Awards (Season 10).
- Recognition as the Best Firm for Data Scientists to Work For in 2024.
- Best Wholesale/Transaction Bank at Digital CX Awards for its Neo API suite.
- Greenwich Share Leaders for Indian Large Corporate Banking and Middle Market Banking (Local Banks) & Greenwich Excellence Award in Indian Middle Market Banking.
- Infosys Finacle Innovation Award in multiple categories.
- India's Best for Next-Gen in the Euromoney Global Private Banking Awards.
- Recognition as the Best BFSI Brands at ET Now Best BFSI Brands Conclave 2024.
- The Asset Triple A Sustainable Finance Awards 2024 in multiple categories.
- Asia Pacific Loan Market Association (APLMA) Award for Syndicated Loan House of the Year (India).
- Recognition in the highest leadership category of the Indian Corporate Governance Scorecard of the Institutional Investor Advisory Services (IiAS).
- ETCIO Award for Enterprise IT Excellence for Business Resilience Impact of Technology category (Customer Risk Categorization).
- PFRDA recognition for being a Star Performer (Category 1) for achieving 110% targets under the NPS Game Changers Campaign.
- Global Private Banker WealthTech Awards 2024 in multiple categories.
- BW
