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Axis Bank Swift Code AXISINBBXXX: A Brief Introduction and its Market Share
Author:XTransfer2025-03-19
Ⅰ History of Axis Bank
Axis Bank is a leading Indian international banking and financial services company headquartered in Mumbai. Its history can be traced back to 1993, when it was founded by the Trust Corporation of India (UTI) and several other public sector insurance companies, originally called UTI Bank. In its early days, UTI Bank launched several innovative products. Thanks to all these efforts, it gradually laid the foundation of its banking industry in India.
In 2004, UTI Bank merged with its parent company UTI Financial Services Ltd and was renamed Axis Bank. This move opens a new chapter in rebranding and expansion. In 2006, Axis Bank took an important step towards internationalisation with the opening of its first overseas branch in Singapore and an office in Shanghai. In 2007, Axis Bank became the first bank in India to launch a Certified Green bond programme, demonstrating its commitment to sustainability and environmental responsibility. In the same year, the bank opened a branch in the Dubai International Financial Centre to further expand its international presence.
Axis Bank also expanded its presence in the financial services sector through acquisitions of banks and securities firms. in 2013, Axis Bank launched a mobile banking app to provide convenient digital services to its customers. in 2014, Axis Bank consolidated its growth strategy in China by becoming the first private sector indian bank to set up a branch in the country. 2016 In 2016, Axis Bank issued a Certified Green Bond on the London Stock Exchange, once again highlighting its focus on sustainability. in 2017, Axis Bank acquired Freecharge, a digital financial services platform, and further acquired a majority stake in it in 2020, expanding its presence in the digital payments space.
In recent years, Axis Bank has made significant progress in digital transformation and innovation. in 2018, the bank partnered with blockchain technology company Ripple to leverage blockchain technology to improve the efficiency and speed of cross-border payments. in 2020, Axis Bank completed the acquisition of Citibank's consumer banking business in India, one of the largest deals in the Indian financial services sector .
Axis Bank is now India's third largest private sector bank. Through continuous innovation, business expansion and strategic partnerships, Axis Bank has grown to become one of the leading private sector banks in India and has achieved significant success in international markets. Its comprehensive range of financial services demonstrate its diversification and strength in the financial sector. These services include retail banking, commercial banking, investment banking, wealth management and digital banking solutions.
In 2004, UTI Bank merged with its parent company UTI Financial Services Ltd and was renamed Axis Bank. This move opens a new chapter in rebranding and expansion. In 2006, Axis Bank took an important step towards internationalisation with the opening of its first overseas branch in Singapore and an office in Shanghai. In 2007, Axis Bank became the first bank in India to launch a Certified Green bond programme, demonstrating its commitment to sustainability and environmental responsibility. In the same year, the bank opened a branch in the Dubai International Financial Centre to further expand its international presence.
Axis Bank also expanded its presence in the financial services sector through acquisitions of banks and securities firms. in 2013, Axis Bank launched a mobile banking app to provide convenient digital services to its customers. in 2014, Axis Bank consolidated its growth strategy in China by becoming the first private sector indian bank to set up a branch in the country. 2016 In 2016, Axis Bank issued a Certified Green Bond on the London Stock Exchange, once again highlighting its focus on sustainability. in 2017, Axis Bank acquired Freecharge, a digital financial services platform, and further acquired a majority stake in it in 2020, expanding its presence in the digital payments space.
In recent years, Axis Bank has made significant progress in digital transformation and innovation. in 2018, the bank partnered with blockchain technology company Ripple to leverage blockchain technology to improve the efficiency and speed of cross-border payments. in 2020, Axis Bank completed the acquisition of Citibank's consumer banking business in India, one of the largest deals in the Indian financial services sector .
Axis Bank is now India's third largest private sector bank. Through continuous innovation, business expansion and strategic partnerships, Axis Bank has grown to become one of the leading private sector banks in India and has achieved significant success in international markets. Its comprehensive range of financial services demonstrate its diversification and strength in the financial sector. These services include retail banking, commercial banking, investment banking, wealth management and digital banking solutions.
Ⅱ Axis Bank's Market Share
Axis Bank holds a significant position in the Indian financial market and its market share stands out in a number of areas, demonstrating its strong competitiveness in the banking industry. The details of its market share are given below:
1.Overall market position
Axis Bank was ranked fifth in the overall banking market in India as of March 2025, leading the private sector banks after two large banks such as HDFC Bank. As of December 2024, Axis Bank held approximately 5.3% of the asset market share and 4.8% of the deposit market share in the Indian banking sector, as well as approximately 5.5% of the loan market. These figures indicate that Axis Bank has significant market presence in the Indian banking sector.
2.Personal and credit card lending segment
Axis Bank continued to grow its market share, especially among the high-end customer segment. The share of high-end customers in its retail savings accounts increased by 870 basis points, further strengthening its position in the retail lending market.
3.Payments business
Axis Bank also performed well. Its credit card issuance grew by 57% to 4.2 million as of FY2023, capturing a market share of approximately 13.7%. In the second quarter of 2024, Axis Bank added approximately 1.06 million new credit cards, representing a market share of approximately 14%. In addition, Axis Bank has a market share of around 31% in the Unified Payment Interface (UPI) segment, making it the largest UPI Payer PSP in India.In the mobile payments market, it has a market share of around 15.7% and in the National Electronic Funds Transfer (NEFT) segment, it has a market share of around 10.6%. In the merchant acquiring business, Axis Bank is one of the largest merchant acquiring banks in Indi. Its POS terminal market share of around 27% and its incremental market share has reached 36% in the last one year.
4.Wealth management area
The market share of Axis Bank is increasing steadily, especially amongst the high-end customer segment, further strengthening its competitiveness in the wealth management market.
5.SME lending segment
Axis Bank also excelled in the small and medium-sized enterprise (SME) lending segment, where it has grown its incremental market share significantly in recent years. This makes it one of the key players in the segment.
Axis Bank has a strong market share in the Indian banking sector, such as retail lending, payments business, wealth management and MSME lending. Focusing on optimizing its loan portfolio, reducing operating costs and improving the cost of credit through a strategic turnaround, Axis Bank's future performance remains bullish, although its loan and deposit growth has been slightly slower than that of some of its peers, and it continues to consolidate its position as a key player in the Indian financial market with strong performance in a number of segments.
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