Axis Bank, earlier known as UTI Bank, was before the new private banks have started the campaign in 1994, after the Government of India allowed new private banks to be established. Bank of India jointly specified undertaking of Unit Trust Administrator (UTI I had promoted), the Life Insurance Corporation (LIC), General Insurance Corporation Ltd., National Insurance Company Limited, New India Assurance Company, Oriental Insurance Corporation and United Insurance Company Limited UTI I and kept a special place in the Indian capital market, several major financial institutions in the country forward.
At the end of October 2009, more than 925 bank branch offices and a network expansion Counters.The Bank has a very extensive network of more than 3,900 ATMs (as of October 31, 2009). Bank has a loan (as of June 2007 accounts) as much as the bank’s total loan book of Rs 2,00,000 crore for 70 per cent. For HDFC Bank, retail assets (total debt of Rs 28,000 crore) March, 2007 as are around 57 percent.
MUMBAI: Axis Bank’s financial results for the quarter ending in December are above street expectations.
Interest earned year declined by 3.3% year to Rs 2883.65 crore, mainly in the fact that both credit and deposit rates has declined rapidly due to a year on year basis. Other income rose 34.9% to Rs 988.09 crore. The bank’s trading profits rose a handsome 49% to Rs 170 crore, while fee income grew 29% to Rs 800 crore.NIMs expanded by 88 basis points year on year to 4%. NIMs were higher on a sequential basis as well — for the September 2009 quarter, NIMs stood at 3.52%. Growth in NIMs was due to higher share of demand deposits in total deposits, reduction in the cost of term deposits and the impact of equity issued in September 2009.
Official Site: http://www.axisbank.com/
