Axis Bank Ltd.

Axis Bank, country’s largest private sector lender has inked pact with Ahli United Bank B.S.C., Bahrain for remitting money from Bahrain to any person in India. The deal will facilitate money transfer services to NRIs in Bahrain using the internet banking platform MyE-Bank.

The number of transactions that can be initiated under this arrangement will be unlimited. Remittances will be processed and disbursed to the intended beneficiaries holding an account with Axis Bank or any of more than 83,000 NEFT-enabled branches of over 100 other banks in India.

Axis Bank has reported a 25.20% jump in its net profit at Rs 1,277.27 crore for the fourth quarter of the 2011-12 fiscal. It had a profit of Rs 1,020.11 crore in the January-March quarter of 2010-11. The total income of the bank during fourth quarter increased 31.47% to Rs 7,647.94 crore, from Rs 5,817.06 crore in the same quarter of the previous fiscal.