Axis bank uk ltd - Latest News Update, Information, Photos & Videos on Axis bank uk ltd at Lokmat Times

Private sector lender Axis Bank is fully winding down and closing operations of its subsidiary in Britain as it focuses on the Indian banking sector.The bank said it has been reviewing its international strategy. As part of this, it has adopted a clear objective to focus on the Indian banking market and harness the potential."In line with this objective, the bank has taken a decision to fully wind down and close the operations of Axis Bank UK Ltd, a subsidiary of the bank, and targeting for surrendering of the banking licence by end of April 2021," it said in regulatory filings at stock exchanges late on Thursday after closing hours.The bank said the plan has been reviewed by both the British regulators -- the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA).The bank said it is committed to delivering optimum value for all its stakeholders in sync with its core principles and the local policies as applicable."The bank will ensure transparency and fairness in dealing with all its employees and customers of Axis Bank UK Ltd throughout this wind down process."Axis Bank UK Limited is not a material subsidiary of the bank in terms of the listing regulation and the decision will not have any material impact on the operations or the financial position of the bank, it added.( With inputs from ANI )

Home

City

Latest News

Cricket

LT Premium

National

International

Maharashtra

Opinions

Chhatrapati Sambhajinagar

Nagpur

Entertainment

Photos

Business

Technology

Sports

Lifestyle

Social Viral

Lokmat Games

Health

Narendra Modi

Lok Sabha Election 2024

Heatwave In India

Mumbai Water Cut

Maharashtra Lok Sabha Election

IPL 2024

Axis Bank Uk LtdFOLLOW

Axis bank uk ltd, Latest News

National :Shut over 2 months, Manipur bank finds Rs 1 crore cash stolen

Imphal, July 11 Cash, amounting to at least Rs 1 crore, was reportedly stolen from an Axis Bank ... ...

Technology :Flipkart, Axis Bank join hands to facilitate personal loans for customers

New Delhi, July 7 E-commerce major Flipkart on Friday announced that it entered into a strategic partnership with ... ...

National :Delhi Police nabs Mewat-based cyber thugs for duping GST inspector

New Delhi, May 9 The Delhi Police have arrested two cyber thugs, including a B.Sc graduate, based in ... ...

Business :Axis Bank to close British subsidiary, focus on Indian business

Private sector lender Axis Bank is fully winding down and closing operations of its subsidiary in Britain as it focuses on the Indian banking sector. ...