Axis Bank – Buy Sell Tips Discussion Report
Axis Bank is a leading commercial Bank of India. It was established in the year of 1994. The Bank was promoted jointly by the Administrator of the specified undertaking of the Life Insurance Corporation of India (LIC), Unit Trust of India (UTI – I), and General Insurance Corporation of India (GIC) and other four PSU insurance companies namely the New India Assurance Company Ltd, Oriental Insurance Company Ltd, United India Insurance Company Ltd as well as by National Insurance Company Ltd. While the central office is located at Mumbai; the registered office is in Ahmedabad. As of 30th June the Bank has 853 extension counters and branches and a massive chain of 3723 ATMs. It has an employee base more than 15,000 people.
Axis Bank is a player per excellence in the Indian investment market. Experts find it suitable to recommend clients to invest money in the shares of Axis Bank for both short term and long term benefits. Recent times have seen large scale buying and selling of Axis Bank shares. As mentioned in the official annual report for the year ended March 31, 2009 the Bank had a total income of Rs. 13,745.04 crores and a net profit of Rs 1,812.93 crores.
Axis Bank was previously known as UTI Bank, but to avoid mistaken identity because of the similarity of its name with some other entities the current name was adopted in April, 2007.
The Axis Bank is following a different business strategy which is not in the same line with other major players in Indian private banking sector like ICICI Bank or HDFC Bank. The Bank has been successful in maintaining the quality of the loan portfolio even after adopting a concentrated type of wholesale corporate landing. The recent economic slowdown occurring worldwide failed to make a major impact in the functioning of the bank.
Liked this post? Subscribe to stock market tips India Email subscription
Related posts: