Axis Bank Ltd
NSE: AXISBANK BSE: 532215
₹1232.70
+23.70 (1.96%)
Sat, 07 Nov 2026, 00:38 am
Market Cap (in Cr)376472.15
PE Ratio12.86
Dividend0.08
Finance
Major Banks
24.5KAxis Bank Ltd Company History
1993
- Incorporated on December 3; received certificate of business on December 14.
- Promoted by Unit Trust of India, Life Insurance Corporation of India, General Insurance Corporation of India and its four subsidiaries.
- First private sector bank to receive license under new RBI guidelines.
1997
- Obtained license as Depository Participant with NSDL; applied for SEBI registration as Trustee to Debenture Holders.
- UTI contributed Rs 100 crore, LIC Rs 7.5 crore, GIC and subsidiaries Rs 1.5 crore each.
1998
- Operated 28 branches in urban and semi-urban areas as of July 31, all computerised and networked via VSAT; ATMs in 27 branches.
- Public issue of 15 million equity shares at Rs 10 each with Rs 11 premium (Rs 31.50 crore) and offer for sale of 20 million shares at Rs 21; 220,000 shares reserved for employees.
- Offered ATM cards for withdrawals from interconnected ATMs.
- Launched new retail product.
- Planned co-brand agreement with Citibank for credit card business.
1999
- Launched international co-branded credit card with Citibank under MasterCard.
- Inaugurated off-site ATM at Ashok Nagar; total off-site ATMs reached 13.
2000
- Launched Tele-Depository Services.
- Launched 'iConnect' Internet banking product.
- Signed MoU with equitymaster.com for e-broking.
- Tied up with Infinity.com Financial Securities for banking interface.
- Signed MoU with Geojit Securities for online trading.
- Signed MoU with Indiabulls.
- Entered agreement with Stock Holding Corporation of India for loans against shares.
- ICRA upgraded Rs 500-crore certificate of deposit programme to A1+.
- Tied up with L&T Trade.com for online trading solution.
2001
- Launched private placement of non-convertible debentures up to Rs 75 crore.
- Opened two offsite ATMs and one extension counter with ATM in Mangalore; total ATMs reached 355.
- Reported 62% rise in net profit to Rs 30.95 crore for quarter ended September 30.
2002
- B R Barwale resigned as Director.
- A C Shah retired from board.
- M Damodaran joined board.
- B S Pandit joined board.
- Paul Fletcher appointed as Additional Director nominee of CDC Financial Service.
- Donald Peck appointed as Additional Director nominee of South Asia Regional Fund.
- G N Bajpai resigned as Director.
- B Paranjpe and Abid Hussain ceased as Directors.
- Appointed Yash Mahajan and N C Singhal as Additional Directors.
- Entered pact with ABN Amro to share ATMs.
- Board scheduled meeting for half-yearly/quarterly financial results.
- J M Trivedi appointed as alternate director to Donald Peck.
2003
- Appointed R N Bharadwaj as Additional Director.
- Opened branch at Nellore.
- Appointed A T Pannir Selvam and Prof. Jayanth Varma as additional directors.
- Authorized to launch 16 ATMs on Mumbai Division Western Railway stations.
- Filed suit against IFCI Ltd for Rs 85 crore dues recovery.
- Entered Food Credit Programme.
- Ajeet Prasad resigned as nominee director.
- Allotted shares under Employee Stock Option Scheme.
- Unveiled pre-paid 'Visa Electron Travel Currency Card'.
- Allotted 58,923 equity shares under ESOP.
- Tied up with UK government fund for contract farming.
- B S Pandit resigned as director.
- Unveiled new ATM in Sikkim.
2004
- Issued Rs 500 million Unsecured Redeemable Non-Convertible Debentures, fully subscribed.
- Appointed Ajeet Prasad as Additional Director.
- Opened new branch in Udupi.
- Entered pact with Geojit for trading platform in Qatar.
- Tied up with Shriram Group companies.
- Introduced premium payment facility through ATMs for LIC and UTI Bank customers.
- Tied up with Metaljunction for online trading and procurement.
- Secured Diebold contract for ATMs and services.
- HSBC acquired 14.6% stake for $67.6 million.
- Installed ATM in Thiruvananthapuram.
- Launched 'Remittance Card' with Remit2India.
2005
- Entered bancassurance partnership with Bajaj Allianz General.
- Launched first Satellite Retail Assets Centre in Mangalore, Karnataka.
2006
- Unveiled priority banking lounge.
- Launched UBL Sales subsidiary; inaugurated first office in Bengaluru.
- Launched Credit Card Business.
- First Indian bank to issue Foreign Currency Hybrid Capital internationally.
- Launched Business Gold Debit Card MasterCard.
2007
- S B Mathur resigned as Nominee Director of SUUTI.
- Fitch upgraded National Long-term rating to 'AAA(ind)'.
- Appointed K N Prithviraj as Additional Director.
- Changed name from UTI Bank Ltd to Axis Bank Ltd.
2008
- Launched Platinum Credit Card, India's first EMV chip-based card.
- Opened branch at Ilanji.
2009
- Board recommended appointment of Shikha Sharma as MD and CEO.
- Opened branch at Perumbavoor; network of 832 branches, 8 extension counters, 3,622 ATMs.
- Entered strategic alliance with Motilal Oswal for online trading.
- Inducted Shikha Sharma as Additional Director.
- Received SEBI clearance to launch mutual fund operations.
- Opened branch at Irinjalakuda; network of 892 branches, 8 extension counters, 3,806 ATMs.
2010
- Appointed Dr. Adarsh Kishore as Non-Executive Chairman.
- Appointed S.B. Mathur as Additional Independent Director.
- Acquired 4% stake in Max New York Life.
- Purchased property in central Mumbai for corporate headquarters for Rs 782 crore.
- Acquired investment banking and securities unit of Enam Securities for Rs 2,067 crore.
2011
- Launched online trading platform AxisDirect.
- Launched pre-paid VISA 'MY MONEY CARD'.
- Opened representative office in Abu Dhabi.
2012
- Partnered with NIIT IFBI for PG Diploma in Retail Banking.
- Inducted Schroders as 25% partner in Axis AMC.
- Partnered with Baird for investment banking services.
2013
- Launched Axis Bank-ISB Women Leadership Programme.
- Launched 'Empower Home Loans' for self-employed.
- Launched co-branded credit card with Lufthansa Miles & More.
- Launched 'Senior Privilege Savings Account'.
- Launched 'Axis Bank-ISIC Forex Card' for students.
- Launched DREAM HOME FESTIVAL 2013 in Bengaluru.
2014
- First Indian private sector bank to open branch in China.
- Launched 'Asha Home Loans'.
- Signed MoU with China Development Bank.
- Launched e-surveillance facility at ATM locations.
- Featured in Forbes Asia's FAB 50 list for fourth time.
- Opened first 'All Women Branch' at Patna, Bihar.
- Split face value from Rs 10 to Rs 2.
2015
- India's third largest private sector bank.
- Raised Senior Notes in international market.
- Introduced pre-paid card with Suvidha Infoserve.
- Launched Display variant Debit Card for NRE customers.
- Offered electronic signature facility to customers.
- Launched co-branded credit card with Vistara.
- Opened representative office in Dhaka.
2016
- RBI approved FII/RFPI investment up to 62% under Portfolio Investment.
- Launched certified green bond at LSE.
2017
- Entered pact with IIC to boost trade with Latin America.
- Launched new home loan product.
- Hit record high on fund raising plans.
2018
- Launched 4th edition of 'Evolve'.
- Raised MCLR by 10 basis points to 8.4%.
- Board approved higher borrowing limit of Rs 2 lakh crore.
2019
- Launched co-branded credit card with Indian Oil for cashless payments.
2020
- Set aside Rs 100 crore to fight pandemic.
- To acquire about 30% stake in Max Life Insurance for Rs 1,600 crore.
- Launched co-branded forex card with Vistara.
2021
- Customers can send money abroad in 100 currencies via mobile app.
- Launched NIIT Digital Banking Academy with NIIT.
- Invested in IBBIC Pvt. Ltd.
- Opened 11 branches in Karnataka.
2022
- Entered non-binding agreement with Go Digit Life for 9.94% stake.
- Network of 4,759 domestic branches and extension counters in 2,702 centres.
- Acquired Citi's consumer business in India.
2023
- Acquired Citibank's India Consumer Business and NBFC Consumer Business from Citicorp Finance (India) Limited.
2024
- Subscribed to over 14 crore equity shares of Max Life Insurance.
