Personal Loan lender, Axis Bank has sent an application for approval of acceptance from Bank of England to allow it to start a branch in London, according to S K Chakrabarti, the bank’s executive director.
Chakrabarti said that Axis bank has already obtained permission from Reserve Bank of India on this topic.
The bank already has branches in Dubai, Singapore and Hong Kong abroad. It intends to expand its international presence, Chakrabarti said. He also said the bank intends to start a branch in Abu Dhabi.
He claimed, “this branch will showcase the bank’s premium offerings under one room and offer a differentiated experience for the premium customers of the bank.”
Uday Bhat, VP, circle head- Gujarat said that the bank is planning to open 15 to 20 branches in the Saurashtra area in a move towards financial inclusion scheme of the Government of India.