AXIS Bank is one of the fastest growing bank in private sector. It was incorporated in the year 1993 as " The Bank (UTI BANK LIMITED) ", which provided corporate and retail banking products and was among the few banks to be granted a license under the new guidelines issued in 1993 to carry on banking business in India. AXIS Bank formerly known as UTI Bank is being promoted by Unit Trust of India (UTI), Life Insurance Corporation of India (LIC), General Insurance Corporation of India (GIC) and its four subsidiaries.

The bank had two subsidiaries namely UBL Sales Limited and UBL Asset Management Company and were incorporated in the year 2005 and 2006 respectively. The bank has restructured its business into four strategic profit centers such as Corporate, Retail, Merchant & Treasury Banking and Further the bank also provide mobile banking services and mobile refill facilities for Airtel, Hutch, Orange and Idea cellular service providers. In fact the bank is among the few Indian banks to have completely centralized its database which enables possible for the bank to increasingly e-enable its transaction processing capabilities.

In the year 2001,the bank along with Global Trust Bank (GTB) had a merger proposal to create the largest private sector bank in swap ratio of 9 shares of UTI Bank for 4 shares of GTB but due to media's issues both the banks withdraw he merger proposal. 2003 was the year to AXIS, the bank was authorized to handle Government transactions such as collection of Government taxes, to handle the expenditure related payments of Central Government Ministries and Departments and pension payments on behalf of Civil and Non-civil Ministries such as defense, posts, telecom and railways and AXIS is the first private sector bank to be authorized for collection of Commercial Taxes in twin cities of Hyderabad & Secunderabad. The bank has launched pre-paid Dollar denominated card which is useful for outbound travelers and has tied up with 14 major full-fledged moneychangers to market the cards and the 1st Indian bank to offer the International Travel Currency Card and.

The bank raised $239.3 million through Global Depositary Receipts in 2005 and in the same year the bank has won the award 'Outstanding Achievement Award' for the year 2005 from Indian Banks Association for IT Infrastructure, delivery capabilities and innovative solutions. In the year of 2007 the bank again raised $218.67 million through Global Depository Receipts. The bank has rated 1st rank under new private sector banks in India's Best Banks for the year 2007 by The Financial Express magazine (The Express Group). In 2007, the bank has opened 153 new branches. This includes 43 extension counters that have been upgraded to branches and the setting up of 8 Service branches/CPCs.

The Bank has opened four new overseas offices, with branches at Singapore, Dubai and Hong Kong and a representative office in Shanghai and has signed an agreement with the Luxembourg-based bank Banque Privee Edmond de Rothschild Europe provide wealth management solutions to overseas Indians. 450 ATMs are opened during the year of 2007. The total network of the bank as on April 2008, a customer base of 90 lakh, 655 branches in more than 407 cities and towns, 20 extension counters and 2778 ATMs across the country.

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