knowmyifsc.com

Axis Bank was initially founded on December 3, 1993, as UTI Bank, as part of the Unit Trust of India (UTI), a government-affiliated entity. Its establishment came as a joint promotion from major public sector financial institutions, including the Administrator of UTI, the Life Insurance Corporation of India (LIC), and the General Insurance Corporation (GIC), among others. The bank's first branch was inaugurated in Ahmedabad in April 1994 by then-Finance Minister Manmohan Singh. In a significant rebranding and restructuring effort, the institution changed its name from UTI Bank to Axis Bank on July 30, 2007. The bank has pursued an active expansion strategy, including listing on the London Stock Exchange in 2005 and, more recently, completing the acquisition of Citibank India's consumer banking business in 2023.

Today, Axis Bank Limited operates as an Indian multinational banking and financial services company and is publicly traded, with its shares listed on both the BSE and NSE. It stands as one of the major players in the Indian financial system, holding the distinction of being India's third-largest private sector bank by assets and fourth-largest by market capitalization. The bank offers a comprehensive range of financial services, catering to large and mid-size companies, SMEs, and retail customers, with products including corporate banking, retail banking, investment banking, and wealth management. Its significance is further underscored by its extensive network of over 5,700 branches and numerous subsidiaries in capital markets and asset management.