Somnath Sengupta elevated to Executive Director, Axis Bank

Axis Bank Limited ( Axis Bank) has announced that  Shri Somnath Sengupta, President, Finance & Accounts, has been elevated to the position of Executive Director with effect from October 01, 2009 and has been  designated as Executive Director & Chief Financial Officer.

Mr. Somnath Sengupta is a graduate in Economics from Shri Ram College of Commerce, University of Delhi. He has over 31 years of banking experience including 20 years with the State Bank group. He has been with Axis Bank since 1996 and has headed the Finance function since 2003. He has been involved with each of the Bank’s capital raising programmes since 2005.

About Axis Bank:
Axis Bank is the third largest private sector bank in India.  We offer a vast spectrum of services encompassing Large and Mid-Corporate Banking, SME Banking, Agri-Business Banking, Retail Banking and International Banking. The Bank’s network in India spans more than 900 offices and over 3800 ATMs. The Bank has embarked on creating a footprint in Asia and today has a presence in the major financial cities of Singapore, Hong Kong, Dubai and Shanghai. In addition, the Bank has also entered into strategic tie-ups and alliances with partner banks in UAE, Doha, Muscat (to be launched) to reach out to the NRIs in these geographies.

The Bank has set up five wholly-owned subsidiaries, Axis Sales Limited, Axis Private Equity Limited, Axis Trustee Services Limited, Axis Asset Management Company Limited and Axis Mutual Fund Trustee Limited.

The Bank carries out its corporate social responsibility initiative through Axis Bank Foundation set up in 2006 as a registered public trust. Each year the Bank transfers 1% of its net profit for the previous year to the Foundation (the maximum, which the RBI permits).