Axis Bank Ltd.

Axis Bank, the country’s third largest private sector bank, will be inaugurating its first branch in the city of London on July 12, 2013. The bank has been granted a banking license and it received approval in April from Britain’s financial regulator to provide a full range of banking services including deposit-taking and making loans and investments.

The bank is already having overseas presence in Singapore, Hong Kong and Sri Lanka and would now pursue corporate and retail banking opportunities in Britain and Europe.

The bank has recently inked pact with information services firm Experian in order to enhance its debt management and collections activities. With this initiative, the bank will use Experian's Tallyman software for managing customers in arrears, reduce the cost of collecting debt and increase working capital by reducing debt write-off.