It was a typical Sunday afternoon. It took some time for Nidhi to soak in the ambience of the lounge bar that she was visiting after months. She was still furious at the cab driver, who had taken a circuitous route to the place so that he could charge her more. Her friend Renu, who… Read More »
A recent press report said that the net profit of Axis bank increased to 25 per cent to Rs.920 crore compared to the net profit of Rs.735 per cent during the corresponding period last year. In his statement Mr. Somnath Sengupta, Executive Director and Chief Financial Officer of Axis Bank said that the gross across… Read More »
A recent press report said that banks are planning to improve their car loan book this festive season. SBI and HDFC have reduced their margin requirements for Tata’s Nano to Rs. 15000. If the borrower opts to take loan from Punjab National Bank then no margin money has to be paid for the Nano. Reports… Read More »
A recent press report said that Axis Bank has announced the launch of ‘NISHCHINT’ a lifetime ‘Fixed Interest Home Loan Scheme’ which offers home buyers housing loans at a fixed rate of 11.75% p.a. for the entire duration of the loan. The duration of the loan is fixed as 20 years. Mr. R. K. Bammi,… Read More »
A recent press report said that BNP Paribas does not need any financial support and has no knowledge of any move by German engineering group Siemens to withdraw deposits from a large French bank. Mr. Michel Perebeau, Chairman of the bank said that the bank has no need at the moment for any recapitalization. When… Read More »
A recent press report said that the board of Axis Bank has approved the merger of the financial services business of Enam Securities Private Ltd (Enam) with itself by transferring the business into the bank’s wholly owned subsidiary. According to the notice issued to the BSE the bank has said that it will merge Enam… Read More »
A recent press report said that Axis Bank, India’s third largest private Bank, has tied up with Malayan Banking Berhad (Maybank), Malaysia, for remitting money from Malaysia to beneficiary accounts in India. The bank has signed an agreement with Maybank for offering remittance facility to India, under Maybank Money Express (MME) service. According to reports… Read More »
A recent press report said that Axis Bank has opened one of its first few premium branches meant for the well heeled customers in Lucknow. The bank would offer services to both the premium clients who have special needs as well as those from the other segment. Reports said that it is the first premium… Read More »
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… Read More »
Mr Sengupta said, “Loan growth is unlikely to cross 20 per cent this year going by the current credit off take. Next year we should see higher growth at around 25 per cent. Deposit growth is also likely to be along the same lines at 25 per cent.” The bank is planning to open 200… Read More »