Axis Bank Ltd. Company Profile: Products,Promoters and Clients

Axis Bank Ltd. Company 

Axis Bank, India's third-largest private bank, offers a wide range of financial services to diverse customer segments. Established in 1994, it's known for pioneering digital initiatives and expanding its branch and ATM network. Leveraging AI, it enhances customer service and collaborates with the RBI Innovation Hub. 

With a growing presence in rural and semi-urban areas and international offices, it focuses on Corporate Lending, Trade Finance, Investment Banking, and Wealth Management.

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Q1. What are the Product and service offerings of the Axis Bank?

  • Digital Banking: Axis Bank boasts a robust digital banking platform, facilitating 96% of digital transactions. It leads in various digital services, including issuing 87% of credit cards, opening 70% of new savings accounts, initiating 74% of new MF SIP volume, and disbursing 53% of personal loans digitally in FY24.
  • Axis Capital Ltd: This subsidiary specializes in Investment Banking and Institutional Equities, closing 90 IB deals in FY24, including 52 ECM and 7 M&A deals. It ranks second in ECM deals.
  • A.Treds Ltd (67% shareholding): A pioneer in facilitating financing for trade receivables, A.Treds operates the digital invoice discounting platform 'Invoicemart', facilitating financing of MSME invoices worth ~Rs. 1,04,000 Crs.
  • Axis Asset Management Co. Ltd (75% shareholding): Providing Portfolio Management Services (PMS), Alternative Investment Funds (AIF), and Mutual Funds, it holds a 5% market share in AUM, managing assets worth ~Rs. 2,74,265 Cr.
  • Axis Trustee Services Ltd: Registered with SEBI, it excels in various trusteeship activities, including debenture trustee, security trustee, and escrow agent, commanding a 24% market share in the Debenture Trustee segment.
  • Axis Securities Ltd: Ranked as the third-largest bank-led retail brokerage in terms of customer base, with a customer base of 5.45 million.
  • Freecharge: Offers merchant acquiring services, payment aggregation services, and distribution of Mutual Funds, among other services.
  • Axis Mutual Fund Trustee Ltd (75% shareholding): Acts as the trustee for the mutual fund business of Axis Bank.
  • Axis Bank UK Ltd: The banking subsidiary in the UK, undertaking various banking activities.
  • Max Life Insurance Co. Ltd. (16.22% shareholding): Axis Bank holds a significant share in Max Life Insurance Co. Ltd.

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Q2. Who are the Promoters of the Axis Bank?

Axis Bank, established in 1994, was promoted jointly by SUUTI, LIC, GIC, NIC, NIA, OIC, and UIIC. SUUTI took over Unit Trust of India's shareholding in 2003. GIC, NIC, NIA, OIC, UIIC, and SUUTI have since been reclassified from promoter to public category.

Nurani Subramanian Vishwanathan, 64, brings extensive central banking expertise to Axis Bank as an Independent Director & Non-Executive Chairman. With a career spanning from the Reserve Bank of India (RBI) to roles in regulatory bodies and international committees, he has managed diverse functions including banking regulation, governance, risk management, and human resources. He holds a master's degree in economics and has completed advanced leadership programs from Cambridge University, UK.

Amitabh Chaudhry serves as the Managing Director & Chief Executive Officer of Axis Bank. He spearheads the bank's transformation program aimed at elevating its status to a premier financial institution. Prior to Axis Bank, he led HDFC Life, transforming it into one of India's largest private life insurers. With a career spanning diverse sectors including banking, technology, and insurance, Amitabh has held key positions at organizations such as Infosys BPO, Infosys Technologies Ltd., Bank of America, and Credit Lyonnais Securities. He is recognized for his leadership and has received several awards and accolades.

Q3. Who are the Clients of the Axis Bank?

Revenue Mix FY24:

  • Treasury: ~15%
  • Corporate/Wholesale Banking: ~22%
  • Retail Banking: ~61%
  • Other Banking Business: ~2%

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