Axis Bank is reportedly planning to enter into the insurance business by acquiring IDBI Federal Life Insurance after the Bank’s executive committee sanctioned the move in December. In this regard, the Bank has hired US-based investment bank to look for a suitable midsize insurance company that can be acquired.
The Bank has a partnership with LIC and Max Life in the life insurance space. While in general insurance space it has an alliance with Tata AIA, it holds 4.99 percent stake in Max Life Insurance.
Axis Bank is the third largest private sector bank in India. The bank offers the entire spectrum of services to customer segments covering Large and Mid-Corporates, SME, Agriculture and Retail Businesses.
Company Name | CMP |
---|---|
HDFC Bank | 1531.30 |
ICICI Bank | 1066.40 |
Axis Bank | 1029.50 |
Indusind Bank | 1485.80 |
Kotak Mahindra Bank | 1790.00 |
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