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Axis Bank > Company History > Banks - Private Sector > Company History of Axis Bank - BSE: 532215, NSE: AXISBANK

Axis Bank

BSE: 532215|NSE: AXISBANK|ISIN: INE238A01034|SECTOR: Banks - Private Sector
Dec 06, 16:00
-11.95 (-1.64%)
VOLUME 214,633
Dec 06, 15:59
-11.65 (-1.6%)
VOLUME 7,458,610
Company History - Axis Bank
 - The Bank was incorporated on 3rd December and Certificate of
 business on 14th December.  The Bank transacts banking business of
 all description.  UTI Bank Ltd. was promoted by Unit Trust of India,
 Life Insurance Corporation of India, General Insurance Corporation of
 and its four subsidiaries.
 - The bank was the first private sector bank to get a license under
 the new guidelines issued by the RBI.
 - The Bank obtained license to act as Depository Participant with
 NSDL and applied for registration with SEBI to act as `Trustee to
 Debenture Holders'.
 - Rupees 100 crores was contributed by UTI, the rest from LIC Rs 7.5
 crores, GIC and its four subsidiaries Rs 1.5 crores each. 
 - The Bank has 28 branches in urban and semi urban areas as on 31st
 July.  All the branches are fully computerised and networked through
 VSAT.  ATM services are available in 27 branches. 
 - The Bank came out with a public issue of 1,50,00,000 No. of equity
 shares of Rs 10 each at a premium of Rs 11 per share aggregating to
 Rs 31.50 crores and Offer for sale of 2,00,00,000 No. of equity
 shares for cash at a price of Rs 21 per share.  Out of the public
 issue 2,20,000
 shares were reserved for allotment on preferencial basis to employees
 of UTI Bank.  Balance of 3,47,80,000 shares were offered to the
 - The company offers ATM cards, using which account-holders can
 withdraw money from any of the bank's ATMs across the country which
 are inter-connected by VSAT.
 - UTI Bank has launched a new retail product with operational
 flexibility for its customers.
 - UTI Bank will sign a co-brand agreement with the market, leader,
 Citibank NA for entering into the highly promising credit card
 - UTI Bank promoted by India's pioneer mutual fund Unit Trust of
 India along with LIC, GIC and its four subsidiaries.
 - UTI Bank and Citibank have launched an international co-branded
 credit card.
 - UTI Bank and Citibank have come together to launch an international
 co-branded credit card under the MasterCard umbrella.
 - UTI Bank Ltd has inaugurated an off site ATM at Ashok Nagar here,
 taking the total number of its off site ATMs to 13.m 
 - The Bank has announced the launch of Tele-Depository Services for
 its depository clients.
 - UTI Bank has launch of `iConnect', its Internet banking Product.
 - UTI Bank has signed a memorandum of understanding with for e-broking activities of the site.
 - financial Securities Ltd., an e-broking outfit is
 typing up with UTI Bank for a banking interface.
 - Geojit Securities Ltd, the first company to start online trading
 services, has signed a MoU with UTI Bank to enable investors to
 buy\sell demat stocks through the company's website.
 - Indiabulls has signed a memorandum of understanding with UTI Bank.
 - UTI Bank has entered into an agreement with Stock Holding
 Corporation of India for providing loans against shares to SCHCIL's
 customers and funding investors in public and rights issues.
 - ICRA has upgraded the rating og UTI Bank's Rs 500-crore certificate
 of deposit programme to A1+.
 - UTI Bank has tied up with L&T for providing customised
 online trading solution for brokers.
 - UTI Bank launched a private placement of non-convertible debentures
 to raise up to Rs 75 crore.
 - UTI Bank has opened two offsite ATMs and one extension counter with
 an ATM in Mangalore, taking its total number of ATMs across the
 country to 355.
 - UTI Bank has recorded a 62 per cent rise in net profit for the
 quarter ended September 30, 2001, at Rs 30.95 crore. For the second
 quarter ended September 30, 2000, the net profit was Rs 19.08 crore.
 The total income of the bank during the quarter was up 53 per cent
 Rs 366.25 crore.
 - UTI Bank Ltd has informed BSE that Shri B R Barwale has resigned as
 a Director of the Bank w.e.f. January 02, 2002. A C Shah, former
 chairman of Bank of Baroda, also retired from the banks board in the
 third quarter of last year. His place continues to be vacant. M
 took over as the director of the board after taking in the reins of
 UTI.  B S Pandit has also joined the banks board subsequent to the
 retirement of K G Vassal.
 - UTI Bank Ltd has informed that Shri Paul Fletcher has been
 appointed as an Additional Director Nominee of CDC Financial Service
 (Mauritius) Ltd of the Bank.And Shri Donald Peck has been appointed
 as an Additional Director (nominee of South Asia Regional Fund) of
 the Bank.
 - UTI Bank Ltd has informed that on laying down the office of
 Chairman of LIC on being appointed as Chairman of SEBI, Shri G N
 Bajpai, Nominee Director of LIC has resigned as a Director of the
 - B Paranjpe & Abid Hussain cease to be the Directors of UTI Bank.
 - UTI Bank Ltd has informed that in the meeting of the Board of
 Directors  following decisions were taken: Mr Yash Mahajan, Vice
 Chairman and Managing Director of Punjab Tractors Ltd was appointed
 as an Additional Director with immediate effect. Mr N C Singhal
 former Vice Chairman and Managing Director of SCICI was appointed as
 an Additional Director with immediate effect.
 -ABN Amro, UTI Bank in pact to share ATMs.
 -UTI Bank Ltd has informed BSE that a meeting of the Board of
 Directors of the Bank is scheduled to be held on October 24, 2002 to
 consider and take on record the unaudited half yearly/quarterly
 financial results of the Bank for the half year/Quarter ended
 September 30, 2002.
 -UTI Bank Ltd has informed that Shri J M Trivedi has been appointed
 as an alternate director to Shri Donald Peck with effect from
 November 2, 2002.
 -UTI Bank Ltd has informed BSE that at the meeting of the Board of
 Directors of the company held on January 16, 2003, Shri R N
 Bharadwaj, Managing Director of LIC has been appointed as an
 Additional Director of the Bank with immediate effect.
 - UTI Bank, the private sector bank has opeaned a branch at Nellore.
 The bank's Chairman and Managing Director, Dr P.J. Nayak,
 inaugurating the bank branch at GT Road on May 26. Speaking on the
 occasion, Dr Nayak said, This marks another step towards the
 extensive customer banking focus that we are providing across the
 country and reinforces our commitment to bring superior banking
 services, marked by convenience and closeness to customers.
 -UTI Bank Ltd. has informed the Exchange that at its meeting held on
 June 25, 2003 the BOD have decided the following: 1) To appoint Mr. A
 T Pannir Selvam, former CMD of Union Bank of India and Prof. Jayanth
 Varma of the Indian Institute of Management, Ahmedabad as additional
 directors of the Bank with immediate effect. Further, Mr. Pannir
 Selvam will be the nominee director of the Administrator of the
 specified undertaking of the Unit Trust of India (UTI-I) and Mr.
 Jayanth Varma will be an Independent Director. 2) To issue
 Non-Convertible Unsecured Redeemable Debentures upto Rs.100 crs, in
 one or more tranches as the Bank's Tier - II capital.
 -UTI has been authorised to launch 16 ATMs on the Western Railway
 Stations of 
 Mumbai Division.
 -UTI filed suit against financial institutions IFCI Ltd in the debt
 recovery tribunal at Mumbai
 to recover Rs.85cr in dues.
 -UTI bank made an entry to the Food Credit Programme, it has made an
 entry into the
 59 cluster which includes private sector, public sector, old private
 sector and co-operative
 -Shri Ajeet Prasad, Nminee of UTI has resigned as the director of the
 -Banks Chairman and MD Dr.P.J.Nayak inaugurated a new branch at
 -UTI bank allots shares under Employee Stock Option Scheme to its
 -Unveils pre-paid travel card 'Visa Electron Travel Currency Card'
 -Allotment of 58923 equity shares of Rs 10 each under ESOP.
 -UTI Bank ties up with UK govt fund for contract farming
 -Shri B S Pandit, nominee of the Administrator of the Specified
 Undertaking of the Unit Trust of India (UTI-I) has resigned as a
 director from the Bank wef November 12, 2003.
 -UTI Bank unveils new ATM in Sikkim
 -Comes out with Rs. 500 mn Unsecured Redeemable Non-Convertible
 Debenture Issue, issue fully subscribed
 -UTI Bank Ltd has informed that Shri Ajeet Prasad, Nominee of the
 Administrator of the Specified Undertaking of the Unit Trust of India
 (UTI - I) has been appointed as an Additional Director of the Bank
 w.e.f. January 20, 2004.
 -UTI Bank opens new branch in Udupi
 -UTI Bank, Geojit in pact for trading platform in Qatar
 -UTI Bank ties up with Shriram Group Cos
 -Unveils premium payment facility through ATMs applicable to LIC &
 UTI Bank customers
 -Metaljunction (MJ)- the online trading and procurement joint venture
 of Tata Steel and Steel Authority of India (SAIL)- has roped in UTI
 Bank to start off own equipment for Tata Steel.
 -DIEBOLD Systems Private Ltd, a wholly owned subsidiary of Diebold
 Incorporated, has secured a major contract for the supply of ATMs and
 services to UTI Bank
 -HSBC completes acquisition of 14.6% stake in UTI Bank for .6 m
 -UTI Bank installs ATM in Thiruvananthapuram
 -Launches `Remittance Card' in association with Remit2India, a Web
 site offering money-transfer services
 - UTI Bank enters into a bancassurance partnership with Bajaj Allianz
 General for selling general insurance products through its branch
 -UTI Bank launches its first Satellite Retail Assets Centre (SRAC) in
 Karnataka at Mangalore.
 -UTI Bank unveils priority banking lounge
 - UTI Bank launches operations of UBL Sales, its Sales Subsidiary -
 Inaugurates its first office in Bengaluru
 -UTI Bank announces the launch of its Credit Card Business
 - UTI Bank becomes the first Indian Bank to successfully issue
 Foreign Currency Hybrid Capital in the International Market
 - UTI Bank Business Gold Debit Card MasterCard Launched - Designed
 for business related spending by SMEs and self employed
 -AXIS Bank Ltd has informed that consequent upon handing over charge
 as Administrator of the Specified Undertaking of the Unit Trust of
 India (SUUTI), Shri. S B Mathur, the Nominee Director of SUUTI has
 resigned as a Director of the Bank w.e.f. December 06, 2007.
 -AXIS Bank Ltd has informed that Fitch Ratings on December 14, 2007,
 has upgraded the Bank's National Long-term rating to 'AAA(ind)' from
 -AXIS Bank Ltd hasappointed Shri K N Prithviraj as an Additional
 Director on the Board at Directors of the Bank.
 - Company name has been changed from UTI Bank Ltd toAxis Bank Ltd.
 - Axis Bank launches Platinum Credit Card, India's first EMV chip
 based card
 - Axis Bank set up its branch at Ilanji at Meenakshi Nagar on the
 Coutralam-Madurai road on April 16.
 -  Axis Bank today said its board has recommended the appointment of
 Shikha Sharma, currently chief of ICICI group's life insurance
 business, as its next managing director and CEO.
 - Axis Bank has set up a new branch at Perumbavoor. The bank has a
 network of 832 branches along with 8 extension counters and 3622 ATMs
 across the country.
 - Axis Bank, on Wednesday entered into a strategic alliance with
 Motilal Oswal, the financial services firm, in order to facilitate
 the online trading for the bank's customers.
 - AXIS Bank Ltd has informed that the Board of Directors of the Bank
 at its meeting held on June 01, 2009, inducted Smt. Shikha Sharma as
 an Additional Director of the Bank.
 - Axis bank has received final clearance from the Securities and
 Exchange Board of India (SEBI) to begin its mutual fund operations
 and will launch debt and equity schemes soon whereas IDBI Bank is
 awaiting the regulator's permit for an entry.
 - Axis Bank opened the new branch at Irinjalakuda while it has a
 network of 892 branches, 8 extension counters and 3,806 ATMs across
 the country.
 - Axis Bank Limited has informed that at the meeting of the Board of
 Directors held on January 15, 2010, the following decisions were
 taken: (1) To appoint Dr. Adarsh Kishore, former Finance Secretary,
 Government of India and former Executive Director, International
 Monetary Fund representing Bangladesh, Bhutan, India and Sri Lanka,
 as the Non-Executive Chairman of the Bank, subject to RBI approval;
 (2) To appoint Shri S.B. Mathur, former Chairman, LIC and the
 National Stock Exchange of India, as an Additional Independent
 Director, with immediate effect.
 - AXIS Bank Ltd has appointed Shri M. S. Sundara Rajan, former CMD,
 Indian Bank as an Additional Independent Director with immediate
 - Axis bank acquires 4 percent stake in Max New York Life
 - Axis Bank has bought a property in central Mumbai from Bombay
 Dyeing where it will shift its corporate headquarters. Its worth
 Rs.782 crore.
 - Axis Bank is acquiring investment banking and securities unit of
 Enam Securities Pvt Ltd in an all stock deal for Rs.2,067 Cr (around
 6 Mn) in order to expand its broking and investment banking
 - Axis Bank launches online trading platform AxisDirect
 - Axis Bank has launches pre-paid VISA card i.e. MY MONEY CARD.
 - Axis Bank opens new representative office in Abu Dhabi
 - Axis Bank partners with NIIT IFBI to introduce PG Diploma in Retail
 - Axis Bank inducts Schroders as a 25% partner in Axis AMC.
 - Axis Bank, Axis Capital, joined hands with Baird, an international,
 employee-owned financial services firm, to ofer investment banking
 -Axis Bank launches - Axis Bank - ISB Women Leadership Programme
 -Axis Bank launches unique product Empower Home Loans for self
 -Axis Bank, Lufthansa Miles & More launch co-branded credit card
 -Axis Bank launches new and improved 'Senior Privilege Savings
 -Axis Bank launches Axis Bank- ISIC Forex Card for Students
 -Axis Bank launches DREAM HOME FESTIVAL 2013 in Bengaluru
 -Axis Bank, the first Indian Private sector bank to set up a branch
 in China
 -Axis Bank launches Asha Home Loans
 -Axis Bank signs MoU with China Development Bank
 -Axis Bank launches e - surveillance facility at ATM locations
 -Axis Bank features in Forbes Asias FAB 50 list for the fourth time
 -Axis Bank opens its first 'All Women Branch' at Patna, Bihar
 -Axis Bank has splits its face value from Rs 10/- to 2/-
 -Axis Bank, Indias third largest private sector bank
 -Axis Bank Ltd raises Senior Notes in the International Market
 -Axis Bank, Suvidha Infoserve join to introduce pre-paid card
 -Launch of the Display variant Debit Card for its NRE customers
 -Axis Bank to offer electronic signature facility to its customers
 -Axis Bank and Vistara join hands to introduce cobranded credit card

 -Axis Bank opens its representative office in Dhaka to strengthen its
 International presence
 -AXIS Bank receives approval from RBI - FIIs / RFPIs can invest up to
 62 per cent under Portfolio Investment 
 -Axis Bank launches certified green bond at LSE
 - Axis Bank, IIC pact to boost trade with Latin America
 - Axis Bank launches new home loan product
 - Axis Bank hits record high on fund raising plans
Source : Dion Global Solutions Limited
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