Axis Bank, India’s third largest private sector bank, has launched ‘Burgundy’, for high net worth individuals (HNI). Burgundy will offer personalised services and wealth management solutions so that affluent customers get free to enjoy their life as the bank will manage their wealth. The bank has 40,000 such HNI customers (of its total customer base of over 1.5 crore) and want to add about 100,000 (new customers) in about next 18 months.
Currently, the bank Bank's total deposit base has a market share of 3.7 per cent and is looking to increase the market share from the HNI segment alone to 3.7 per cent in the next 3-4 years. Furthermore, the bank has 40,000 such HNI customers (of its total customer base of over 1.5 crore) and want to add about 100,000 (new customers) in about next 18 months.
Axis Bank has 2,505 domestic branches & extension counters and 13,146 ATMs across the country, as on September 30, 2014, the network of Axis Bank spreads across 1,686 cities and towns, enabling the Bank to reach out to a large cross-section of customers with an array of products and services.
