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Axis Bank, India's third largest private sector bank, today announced plans to launch 22 additional branches in Gujarat, taking the total number in the State to 109 by March 31, 2011.
Mr. S. K. Chakrabarti, Deputy Managing Director, said the bank is focused on taking its products and services into the farthest corners of the country. It plans to open 350 branches across the country by the end of this fiscal (2010-11).
The bank enjoys the patronage of the State Government for collection of sales tax and stamp duty through franking, according to a release here.
By the end of this fiscal year, Axis Bank will have a network of over 1,300 branches and over 5,900 ATMs across the country. The branches, spread across more than 850 cities and towns, enable the bank to reach out to a large cross-section of customers.
Moreover, Axis Bank has presence in Singapore, Hong Kong, Shanghai and Dubai, and seeks to expand its international presence. Axis Bank has the largest EDC network, the third largest ATM network in India and also has the fourth largest base of debit cards in the country. It has a customer base of over 1.50 crore and its market capitalisation as on March 28, 2011 was Rs. 56,711 crore (NSE).
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