Axis bank, previously called the UTI bank, was established in 1994, promoted jointly by the Administrator of the specified undertaking of the Unit Trust of India (UTI – I), Life Insurance Corporation of India (LIC) and General Insurance Corporation of India (GIC) and other four PSU insurance companies. It went public on Sept, 1998 with a 71 crore public issue.
The Bank was set up with a capital of Rs. 115 crore, with UTI contributing Rs. 100 crore, LIC – Rs. 7.5 crore and GIC and its four subsidiaries contributing Rs. 1.5 crore each. The Bank today is capitalized to the extent of Rs. 359.76 crores with the public holding (other than promoters) at 57.79%. The Bank’s Registered Office is at Ahmedabad and its Central Office is located at Mumbai.
As on 30th June, 2009, the Bank has a very wide network of more than 853 branches and Extension Counters as well as 3723 ATMs. The bank holds the distinction of having the highest altitude ATM counter in India, at Thegu, near Nathula Pass in Sikkim. Another distinction is the launch of the Platinum Credit Card, India’s first EMV chip based card in March, 2008.
Smt. Shikha Sharma is the current Managing Director and CEO.