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Axis Bank gains 5% on appointment of Amitabh Chaudhry as the MD & CEO
Posted on 10th September 2018
Axis Bank rallied 5% to Rs 676 on the BSE in early morning deals after the private sector lender on Saturday appointed Amitabh Chaudhry as Managing Director & CEO (MD& CEO) effective January 1, 2019.

“The board of directors of the Bank at its meeting held today has taken on record the approval granted by the Reserve Bank of India (RBI) to the appointment of Shri Amitabh Chaudhry as the Managing Director & CEO of the Bank

Axis Bank’s stock broking arm becomes first in India to offer commodity derivatives trading
Posted on 27th August 2018
The stock-broking arm of India’s Axis Bank on Monday began offering commodity derivatives trading on the Multi Commodity Exchange platform, making it the first subsidiary of a bank to offer the service. The Reserve Bank of India had allowed bank subsidiaries to provide commodity broking services in September last year, as the Securities and Exchange Board of India, the capital market regulator, tries to deepen the market.

Axis Bank likey to open up to 400 bank branches in FY 2018-2019
Posted on 8th August 2018
Axis Bank is likely to add between 350 to 400 branches to its network this year from the current about 3,800 branches, a top bank official said today. “National, totally we have about 3,800 branches currently. Last year, we added about 400 branches. Our anticipation is that we will add between 350 to 400 branches this year as well (FY19).

Axis Bank puts loans worth Rs 1,062 cr on sale
Posted on 1st August 2018
A day after declaring its results for the June quarter, Axis Bank put on sale a portfolio of loans worth Rs 1,062 crore and sought bids from asset reconstruction companies (ARCs) on a cash basis, according to a public notice.

The names of the accounts and the bank’s exposures to individual accounts could not be ascertained immediately.

Axis Bank stock could test Rs 600 post Q1 numbers
Posted on 31st July 2018
Mumbai: Axis Bank could potentially rise 5 per cent or more to Rs 600 after the private lender reported substantially lower slippages and provisioning in Q1 on Monday. At Rs 569 Monday, the stock already trades at the upper end of the Rs 500-600 trading range for the August series. The GDR traded up 3.9 per cent at $41.75 at time of writing Monday.

CEO succession: Axis Bank board recommends 3 names for RBI nod
Posted on 11th July 2018
Axis Bank on Tuesday said its board of directors has recommended three candidates for Reserve Bank of India’s (RBI) approval. The approved candidate will succeed its current managing director and CEO Shikha Sharma whose term ends on December 31, 2018.

Axis Bank-led consortium puts Lanco hydel plant in Uttarakhand up for sale
Posted on 10th July 2018
A consortium of lenders led by Axis Bank has put on sale a 76-megawatt (MW) hydropower project — operated by Lanco Mandakini Hydro Energy — in Rudraprayag, Uttarakhand, according to sources. At the end of September 2016, Lanco Mandakini’s debt stood at `785 crore. Lanco Mandakini Hydro Energy is a special purpose vehicle (SPV) promoted by the Lanco Group set up in 2006 in Dehradun.

Axis Bank hikes MCLRs by 10 bps
Posted on 19th June 2018
Axis Bank, the country’s third-largest private bank by assets, on Monday raised marginal cost of funds-based lending rates (MCLRs) by 10 basis points (bps) across tenures, following similar hikes by its peers earlier this month. The one-year MCLR at the bank now stands at 8.6%. This is the fourth rate hike by the lender in calendar year 2018.

Axis to add 400 branches in FY19 for retail boost
Posted on 1st June 2018
Mumbai: At a time when lenders are rationalising branches, Axis Bank has decided to add 400 branches in the financial year 2018-19, taking its network beyond 4,000. The expansion is part of a strategy to grow retail business and expand the deposit base.

Axis Bank executive director and head of retail Rajiv Anand said, “We found that applications for our online savings account ‘ASAP’ were coming from 16,000 locations. We did a survey and found that the reason why most of them chose Axis Bank was because there was a branch nearby.”

Axis Bank increases MCLRs by 10-15 bps
Posted on 19th May 2018
Axis Bank, the country’s third-largest private lender, on Friday raised marginal cost of funds-based lending rates (MCLRs) by 10-15 basis points (bps). The one-year MCLR at the bank now stands 10 bps higher than earlier at 8.5%, the highest among large banks. MCLRs for shorter tenures will range between 8% and 8.4%. The two-year and three-year MCLRs stand at 8.6% and 8.65% respectively.

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