Axis Bank expanding in Gujarat with 28 new branches

Axis Bank expanding in Gujarat with 28 new branches

In a strategic move to bolster accessibility for the residents of Gujarat, Axis Bank is set to fortify its presence in the state by adding 28 new branches and installing 69 additional ATMs in the current fiscal year.

Ahmedabad, Gujarat – Marking a significant milestone in its journey, Axis Bank proudly inaugurated its 5000th branch in the vibrant city of Ahmedabad, Gujarat. This event coincidentally unfolded 29 years after the bank established its maiden branch in the very same city. The auspicious inauguration was graced by the presence of Gujarat’s Chief Minister, Bhupendra Patel, alongside Axis Bank’s distinguished MD and CEO, Amitabh Chaudhry, and other senior executives.

Presently, Axis Bank boasts a network of 389 branches scattered across the state of Gujarat. These branches are strategically distributed, comprising 147 branches in metropolitan areas, 60 in urban regions, 106 in semi-urban locations, 18 in rural settings, and 58 in previously unbanked rural regions.

This historical journey began in 1994 when the bank was known as UTI Bank, and its first branch in Gujarat was inaugurated by none other than the former Prime Minister, Dr. Manmohan Singh, as Axis Bank proudly recounts.

Axis Bank’s visionary expansion plans come to the forefront as the institution vows to open 28 additional branches and install 69 new ATMs within this fiscal year. This strategic move underscores Axis Bank’s unwavering commitment to enhancing accessibility and convenience for the people of Gujarat.

Speaking on the occasion, Amitabh Chaudhry, MD and CEO of Axis Bank, emphasized the bank’s focus on three distinct propositions: Bharat banking, digitization, and ‘Sparsh.’ The Bharat banking segment serves the unique needs of rural and semi-urban populations, while digitization remains a pivotal area of concentration for the bank. ‘Sparsh,’ on the other hand, is a program aimed at fostering an unwavering commitment to customer satisfaction within the bank.

Ravi Narayanan, the Bank’s Group Executive and Head of Branch Banking, revealed that Axis Bank has set its sights on opening a staggering 500 branches during the current fiscal year. “By the end of the first half of this year,” he stated optimistically, “we should be somewhere around the 50 per cent mark, which should ensure that the pace that we are going, we should be comfortable in terms of what we have set out as our aspiration.”

What’s more, Axis Bank is deeply engaged with over 1,040 village-level entrepreneurs across Gujarat, dedicated to providing essential financial support to its expansive customer base in rural regions. In a remarkable demonstration of corporate social responsibility (CSR), the bank has committed a substantial sum of Rs 37 crores from FY 2024 to 2027. These funds are earmarked to support a staggering 28,520 rural families in Gujarat through a myriad of CSR initiatives.

Axis Bank’s unwavering commitment to Gujarat’s residents takes another leap forward, marking a promising era of increased accessibility and convenience for all.

About Axis Bank:

Axis Bank Limited provides a full range of banking services throughout India. The Group’s activities include retail banking, investment management, merchant banking, treasury and NRI services, cash and credit management services, and ATM facilities.

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