Axis Bank is the third largest private sector bank in India. The Bank operates in four segments namely treasury retail banking corporate/ wholesale banking and other banking business. The treasury operations include investments in sovereign and corporate debt equity and mutual funds trading operations derivative trading and foreign exchange operations on the account and for customers and central funding. Retail banking includes lending to individuals/small businesses subject to the orientation product and granularity criterion. It also includes liability products card services Internet banking automated teller machines (ATM) services depository financial advisory services and non resident Indian (NRI) services. The corporate/wholesale banking segment includes corporate relationships not included under retail banking corporate advisory services placements and syndication management of publics issue project appraisals capital market related services and cash management services. The Bank's registered office is located at Ahmedabad and their Central Office is located at Mumbai. With 3485 domestic branches (including extension counters) and 14332 ATMs across the country as on 30 September 2017 the network of Axis Bank spreads across 2033 cities and towns enabling the bank to reach out to a large cross-section of customers with an array of products and services. The bank also has nine overseas offices with branches at Singapore Hong Kong Dubai (at the DIFC) Shanghai and Colombo; representative offices at Dubai Abu Dhabi and Dhaka and an overseas subsidiary at London UK.The Bank has five wholly-owned subsidiaries namely Axis Securities and Sales Ltd Axis Private Equity Ltd Axis Trustee Services Ltd Axis Asset Management Company Ltd and Axis Mutual Fund Trustee Ltd.Axis Bank was incorporated in the year 1993 with the name UTI Bank Ltd. Axis Bank is one of the first new generation private sector banks to have begun operations in 1994. The bank was promoted in 1993 jointly by Specified Undertaking of Unit Trust of India (SUUTI) (then known as Unit Trust of India) Life Insurance Corporation of India (LIC) General Insurance Corporation of India (GIC) National Insurance Company Ltd. The New India Assurance Company Ltd. The Oriental Insurance Company Ltd. and United India Insurance Company Ltd. The share holding of Unit Trust of India was subsequently transferred to SUUTI an entity established in 2003.In the year 2001 the bank along with Global Trust Bank (GTB) had a merger proposal to create the largest private sector bank but due to media's issues both the banks withdraw the merger proposal. In the year 2003 the Bank was given the 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 defence posts telecom and railways. In December 20003 the Bank launched their merchant acquiring business.In the year 2005 the Bank raised $239.3 million through Global Depositary Receipts. They won the award 'Outstanding Achievement Award' for the year 2005 from Indian Banks Association for IT Infrastructure delivery capabilities and innovative solutions.In December 2005 the Bank set up Axis Securities and Sales Ltd (originally incorporated as UBL Sales Ltd) to market credit cards and retail asset products. In October 2006 they set up Axis Private Equity Ltd primarily to carry on the activities of managing equity investments and provide venture capital support to businesses.In the year of 2007 the bank again raised $218.67 million through Global Depository Receipts. They opened 153 new branches during the year which includes 43 extension counters that have been upgraded to branches and 8 Service branches/ CPCs. They also opened new overseas offices at Singapore Dubai and Hong Kong and a representative office in Shanghai.During the year 2007-08 the Bank opened 143 new branches taking the number of branches to 651 which included 33 extension counters that have been upgraded to branches. Also they expanded overseas with the opening of a branch at the Dubai International Finance Centre. The Bank changed their name from UTI Bank Ltd to Axis Bank Ltd with effect from July 30 2007 to avoid confusion with other unrelated entities with similar name.During the year 2008-09 the Bank opened 176 new branches that include 12 extension counters that have been upgraded to branches taking the total number of branches and ECs to 835. During the year they opened 831 ATMs thereby taking the ATM network of the Bank from 2764 to 3595. Also they opened a Representative Office in Dubai.In May 2008 the Bank established Axis Trustee Services Company Ltd as a wholly owned subsidiary company which is engaged in trusteeship activities. In December 2008 they launched their new investment advisory service exclusively for High Net Worth clients. In January 2009 the Bank set up Axis Asset Management Company Ltd to carry on the activities of managing a mutual fund business. Also they incorporated Axis Mutual Fund Trustee Ltd to act as the trustee for the mutual fund business.During the year 2009-10 the Bank opened 200 branches taking the total number of branches Extension Counters (ECs) to 1035. In March 209 2010 they opened their 1000 branch at Bandra West Mumbai. In September 2009 Axis Bank launched the private banking business in the domestic market christened 'Privee' to cater to highly affluent individuals and families offering them unique investment opportunitiesDuring the year the Capital Markets SBU was restructured with the debt capital market business (hitherto a part of the capital markets) carved into a separate vertical. As a result the Bank's Capital Markets SBU comprises equity capital markets (ECM) business mergers and acquisitions and private equity syndication. In February 24 2010 the Bank launched the 'AXIS CALL & PAY on atom' a unique mobile payments solution using Axis Bank debit cards. Axis Bank is the first bank in the country to provide a secure debit card-based payment service over IVR.During the year 2010-11 407 new branches were added to the Bank's network taking the total number of branches and extension counters (ECs) to 1390. Of these 564 branches/ ECs are in semi-urban and rural areas and 826 branches/ECs are in metropolitan and urban areas. The Bank is present in all states and Union Territories (except Lakshadweep) covering 921 centres. The ATM network of the Bank increased from 4293 to 6270.During the year the Bank also opened a Representative Office in Abu Dhabi. This was in addition to the existing branches at Singapore Hong Kong and DIFC (Dubai International Financial Centre) and representative offices at Shanghai and Dubai.In March 7 2011 the Bank incorporated a new subsidiary namely Axis U.K. Ltd. as a private limited company registered in the United Kingdom (UK) with the main purpose of filing an application with Financial Services Authority (FSA) UK for a banking license in the UK and for the creation of necessary infrastructure for the subsidiary to commence banking business in the UK.On 8 January 2014 Axis Bank announced the opening of its Shanghai Branch thus becoming the first Indian private sector bank to set up a branch in China.On 4 December 2014 Axis Bank announced that it had closed its Senior Unsecured Redeemable Non-Convertible Debenture issue of amount Rs 5705 crore and priced at 8.85% p.a. payable annually maturing on 5 December 2024.On 9 December 2014 Axis Bank announced the launch of limited period offer of 20 year fixed rate home loan for affordable housing at 10.40%.On 27 July 2015 Axis Bank announced that it had signed a $200 million 7 year bilateral loan deal with the Asian Development Bank (ADB) for extending affordable agriculture credit to farmers in India.On 22 November 2015 Axis Bank announced the opening of its Representative Office in Dhaka Bangladesh in a bid to strengthen its international presence.On 9 March 2016 Axis Bank announced the launch of the world's first Forex prepaid card issued in conjunction with Diners Club International a business unit of Discover Financial Services.On 30 March 2017 Axis Bank announced a strategic partnership with Wells Fargo & Company to offer seamless remittance facility to their NRI customers from The United States of America (USA).On 17 June 2017 Axis Bank in association with Kochi Metro Rail Corporation (KMRL) launched India's first single-wallet contactless open loop metro card to allow cashless commuting for commuters in Kochi.On 5 July 2017 Axis Bank announced its foray into the luxury bikes loans segment for 500cc & above bikes.On 11 July 2017 Axis Bank announced its collaboration with Inter-American Investment Corporation (IIC) to facilitate trade with Latin America and the Caribbean.Axis Bank on 27 July 2017 announced that it has entered into an agreement with Jasper Infotech Private Limited to acquire 100% stake in its subsidiaries viz. FreeCharge Payment Technologies Private Limited and Accelyst Solutions Private Limited which together constitute the digital payments business under the FreeCharge brand. The deal marked the first such acquisition of a digital payments company by a bank in India.