Axis Bank to Open 8 more braches

Businessstandard, Oct 13, 2008

In a bid to expand its business in Orissa, Axis Bank has decided to open at least 8 more branches in the state in the current year.

According to the bank officials, the new branches would be opened at locations like Bhawanipatna, Nuapada, Damonjodi, Paradip and Bhanjanagar.

At present, the bank has 21 branches in the state.

Axis Bank has a network of 709 branches, 20 extension counters and 3,058 ATMs across the country. These branches are spread across 442 cities and towns in the country including 21 branches in Orissa, said a senior officer of the bank.

The bank has around 120 ATMs in the state and plans to add another 30 ATMs during the year.

Axis Bank was relocated to a new premise here and its new premise was inaugurated by J.H. Jakkappanavar, senior divisional manager of Berhampur division of LIC in the presence of several senior officers of the bank.

The senior officials of the bank who were present on the occasion included Alok Biswas, vice president of Axis Bank’s zonal office in Kolkata, Debarchan Mishra, vice president of Bhubaneswar office, Laxmikant Satapathy, the assistant vice president and Pravat Kumar Mohanty, the branch head of Axis Bank’s Berhampur office.

Abroad Axis Bank has a presence in Singapore, Hong Kong, Shanghai and Dubai and the bank is looking to further expand its international presence.

The bank has a customer base of over 90 lakh and it provides pay-roll services to over 12,000 corporates across 28 lakh salary accounts in the country. The market capitalisation of Axis Bank was Rs 25,105 crore (as on September 24 this year), which makes the bank the fourth largest in terms of market capitalisation in the country.