Axis Bank Ltd.

Axis Bank has decided to wind down its UK subsidiary and the move will not have any material impact on its financial position. The lender has been reviewing its international strategy and as part of this, has adopted a clear objective to focus on the Indian banking market and harness the potential there.

In line with the said objective, the bank has taken a decision to fully wind down and close the operations of Axis Bank UK, a subsidiary of the bank and targeting for surrendering of the banking licence by end of April 2021, which has been reviewed with the UK regulators viz. both the Prudential Regulation Authority and the Financial Conduct Authority.

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.