History of Axis Bank Ltd.
1993
- The Bank was incorporated on 3rd December & Certificate of business on 14th December. The Bank transacts banking business of all description. UTI Bank limited was promoted by Unit Trust of India, Life Insurance Corporation of India, General Insurance Corporation of India and its four subsidiaries.
- The bank was the first private sector bank to get a license under the new guidelines issued by RBI.
1997
- The Bank obtained license to act as Depository Participant with NSDL and applied for registration with SEBI to act as `Trustee to Debenture Holders'.
- Rupees 100 crores was contributed by UTI, the rest from LIC Rs 7.5 crores, GIC & its four subsidiaries Rs 1.5 crores each.
1998
- The Bank has 28 branches in urban & semi urban areas as on 31st July. All the branches are fully computerised & networked through VSAT. ATM services are available in 27 branches.
- The Bank came out with a public issue of 1,50,00,000 No. of equity shares of Rs 10 each at a premium of Rs 11 per share aggregating to Rs 31.50 crores & Offer for sale of 2,00,00,000 No. of equity shares for cash at a price of Rs 21 per share. Out of public issue 2,20,000 shares were reserved for allotment on preferencial basis to employees of UTI Bank. Balance of 3,47,80,000 shares were offered to the public.
- The Comp. offers ATM cards, using which account-holders can withdraw money from any of bank ATMs across the country which are inter-connected by VSAT.
- UTI Bank has launched a new retail product with operational flexibility for its customers.
- UTI Bank will sign a co-brand agreement with the market, leader, Citibank NA for entering into the highly promising credit card business.
- UTI Bank promoted by India pioneer mutual fund Unit Trust of India along with LIC, GIC & its four subsidiaries.
1999
- UTI Bank & Citibank have launched an international co-branded credit card.
- UTI Bank & Citibank have come together to launch an international co-branded credit card under the MasterCard umbrella.
- UTI Bank Ltd has inaugurated an off site ATM at Ashok Nagar here, taking the total number of its off site ATMs to 13.m
2000
- The Bank has announced the launch of Tele-Depository Services for its depository clients.
- UTI Bank has launch of `iConnect', its Internet banking Product.
- UTI Bank has signed a memorandum of understanding with equitymaster.com for e-broking activities of site.
- Infinity.com financial Securities Ltd., an e-broking outfit is typing up with UTI Bank for a banking interface.
- Geojit Securities Ltd, the first Comp. to start online trading services, has signed a MoU with UTI Bank to enable investors to buy\sell demat stocks through the company website.
- Indiabulls has signed a memorandum of understanding with UTI Bank.
- UTI Bank has entered into an agreement with Stock Holding Corporation of India for providing loans against shares to SCHCIL customers and funding investors in public & rights issues.
- ICRA has upgraded the rating og UTI Bank Rs 500-crore certificate of deposit programme to A1+.
- UTI Bank has tied up with L&T Trade.com for providing customised online trading solution for brokers.
2001
- UTI Bank launched a private placement of non-convertible debentures to raise up to Rs 75 crore. - UTI Bank has opened two offsite ATMs & one extension counter with an ATM in Mangalore, taking its total number of ATMs across the country to 355.
- UTI Bank has recorded a 62 per cent rise in net profit for the quarter ended September 30, 2001, at Rs 30.95 crore. For the second quarter ended September 30, 2000, the net profit was Rs 19.08 crore. The total income of bank during the quarter was up 53 per cent at Rs 366.25 crore.
2002
- UTI Bank Ltd has informed BSE that Shri B R Barwale has resigned as a Director of Bank w.e.f. January 02, 2002. A C Shah, former chairman of Bank of Baroda, also retired from the bank board in the third quarter of last year. His place continues to be vacant. M Damodaran took over as the director of board after taking in the reins of UTI. B S Pandit has also joined the bank board subsequent to the retirement of K G Vassal.
- UTI Bank Ltd has informed that Shri Paul Fletcher has been appointed as an Additional Director Nominee of CDC Financial Service [Mauritiuss] Ltd of Bank.And Shri Donald Peck has been appointed as an Additional Director [nominee of South Asia Regional Funds] of Bank.
- UTI Bank Ltd has informed that on laying down the office of Chairman of LIC on being appointed as Chairman of SEBI, Shri G N Bajpai, Nominee Director of LIC has resigned as a Director of Bank.
2002
- B Paranjpe and Abid Hussain cease to be the Directors of UTI Bank.
- UTI Bank Ltd has informed that in the meeting of Board of Directors following decisions were taken: Mr Yash Mahajan, Vice Chairman & Managing Director of Punjab Tractors Ltd was appointed as an Additional Director with immediate effect. Mr N C Singhal former Vice Chairman & Managing Director of SCICI was appointed as an Additional Director with immediate effect.
-ABN Amro, UTI Bank in pact to share ATMs.
-UTI Bank Ltd has informed BSE that a meeting of Board of Directors of Bank is scheduled to be held on October 24, 2002 to consider & take on record the unaudited half yearly/quarterly financial results of Bank for half year/Quarter ended September 30, 2002.
-UTI Bank Ltd has informed that Shri J M Trivedi has been appointed as an alternate director to Shri Donald Peck with effect from November 2, 2002.
2003
-UTI Bank Ltd has informed BSE that at the meeting of Board of Directors of Comp. held on January 16, 2003, Shri R N Bharadwaj, Managing Director of LIC has been appointed as an Additional Director of Bank with immediate effect.
- UTI Bank, the private sector bank has opeaned a branch at Nellore. The bank Chairman & Managing Director, Dr P.J. Nayak, inaugurating the bank branch at GT Road on May 26. Speaking on the occasion, Dr Nayak said, 'This marks another step towards the extensive customer banking focus that we are providing across the country & reinforces our commitment to bring superior banking services, marked by convenience & closeness to customers.
-UTI Bank limited has informed the Exchange that at its meeting held on June 25, 2003 the BOD have decided the following: 1s] To appoint Mr. A T Pannir Selvam, former CMD of Union Bank of India & Prof. Jayanth Varma of Indian Institute of Management, Ahmedabad as additional directors of Bank with immediate effect. Further, Mr. Pannir Selvam will be the nominee director of Administrator of specified undertaking of Unit Trust of India [UTI-Is] & Mr. Jayanth Varma will be an Independent Director. 2s] To issue Non-Convertible Unsecured Redeemable Debentures upto Rs.100 crs, in one or more tranches as the Bank Tier - II capital.
-UTI has been authorised to launch 16 ATMs on the Western Railway Stations of Mumbai Division.
-UTI filed suit against financial institutions IFCI Ltd in the debt recovery tribunal at Mumbai to recover Rs.85cr in dues.
-UTI bank made an entry to the Food Credit Programme, it has made an entry into the 59 cluster which includes private sector, public sector, old private sector & co-operative banks.
-Shri Ajeet Prasad, Nminee of UTI has resigned as the director of bank.
-Banks Chairman & MD Dr.P.J.Nayak inaugurated a new branch at Nellore.
-UTI bank allots shares under Employee Stock Option Scheme to its employees.
-Unveils pre-paid travel card 'Visa Electron Travel Currency Card'
-Allotment of 58923 equity shares of Rs 10 each under ESOP.
-UTI Bank ties up with UK govt fund for contract farming
-Shri B S Pandit, nominee of Administrator of Specified Undertaking of Unit Trust of India [UTI-Is] has resigned as a director from the Bank wef November 12, 2003.
-UTI Bank unveils new ATM in Sikkim
2004
-Comes out with Rs. 500 mn Unsecured Redeemable Non-Convertible Debenture Issue, issue fully subscribed
-UTI Bank Ltd has informed that Shri Ajeet Prasad, Nominee of Administrator of Specified Undertaking of Unit Trust of India [UTI - Is] has been appointed as an Additional Director of Bank w.e.f. January 20, 2004.
-UTI Bank opens new branch in Udupi
-UTI Bank, Geojit in pact for trading platform in Qatar
-UTI Bank ties up with Shriram Group Cos
-Unveils premium payment facility through ATMs applicable to LIC and UTI Bank customers
-Metaljunction [MJs]- the online trading & procurement joint venture of Tata Steel & Steel Authority of India [SAILs]- has roped in UTI Bank to start off own equipment for Tata Steel.
-DIEBOLD Systems Private Ltd, a wholly owned subsidiary of Diebold Incorporated, has secured a major contract for supply of ATMs & services to UTI Bank
-HSBC completes acquisition of 14.6% stake in UTI Bank for $67.6 m
-UTI Bank installs ATM in Thiruvananthapuram
-Launches `Remittance Card' in association with Remit2India, a Web site offering money-transfer services
2005
- UTI Bank enters into a bancassurance partnership with Bajaj Allianz General for selling general insurance products through its branch network.
-UTI Bank launches its first Satellite Retail Assets Centre [SRACs] in Karnataka at Mangalore.
2006
-UBL sets up branch in Jaipur -UTI Bank unveils priority banking lounge
2007
-AXIS Bank Ltd has informed that consequent upon handing over charge as Administrator of Specified Undertaking of Unit Trust of India [SUUTIs], Shri. S B Mathur, the Nominee Director of SUUTI has resigned as a Director of Bank w.e.f. December 06, 2007.
-AXIS Bank Ltd has informed that Fitch Ratings on December 14, 2007, has upgraded the Bank National Long-term rating to 'AAA[inds]' from 'AA+[inds]'.
-AXIS Bank Ltd hasappointed Shri K N Prithviraj as an Additional Director on the Board at Directors of Bank.
2008
- Axis Bank set up its branch at Ilanji at Meenakshi Nagar on the Coutralam-Madurai road on April 16.
