Axis Bank-Citi Deal: Know What It Means For Citi Debit, Credit Card Customers
2 years, 5 months ago

Axis Bank-Citi Deal: Know What It Means For Citi Debit, Credit Card Customers

News 18  

As the Axis Bank-Citi deal has got approval from the Competition Commission of India, the amalgamation has moved an inch towards merger reality. The Rs 12,325-crore deal involves the merger with Citi’s personal loans, credit cards and wealth management businesses that are focused on the affluent segment, with Axis Bank. Here’s what it means for customers: The deal includes the transfer of verticals like personal wealth management including portfolio managing and retail customer accounts segments from Citi India to Axis Bank, and credit cards are the major portion of the deal. Post the acquisition, Axis Bank will have 28.5 million savings accounts, over 2.3 lakh Burgundy customers and 10.6 million cards.” An Axis Bank official in an interview with Moneycontrol has said the issuance of credit cards should be scaled up from Q3 onwards. Obviously, at some point, by December or March, when the Citi portfolio gets added, it will be another 2.5 million cards,” Axis Bank Sanjeev Moghe said.

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Banks are stepping up partnerships with startups: Axis Bank’s New Economy Group head Sanjiv Bhatia
1 month ago

Banks are stepping up partnerships with startups: Axis Bank’s New Economy Group head Sanjiv Bhatia

Live Mint  

Private banks are stepping up to build strong relationships with startups and offer a range of services including credit, technology assistance, and networking, driving a more conducive environment for India’s burgeoning startup ecosystem as well as helping banks identify the right customers, a top executive at Axis Bank told Mint. This is essentially like the Silicon Valley Bank framework where …

Credit cards: 5 major cards offered by Axis Bank; check here
1 month, 1 week ago

Credit cards: 5 major cards offered by Axis Bank; check here

Live Mint  

Axis Bank offers a range of credit cards. We list out the key features of five major credit cards offered by Axis Bank. 5 major credit cards offered by Axis Bank I. Axis Bank ACE credit card It has no joining fee and it offers following features: A. Flipkart Axis Bank Credit Card This card has a joining fee of …

Axis Bank Share Price Today on 25-11-2024: Axis Bank share price are up by 1.03%, Nifty up by 1.82%
1 month, 2 weeks ago

Axis Bank Share Price Today on 25-11-2024: Axis Bank share price are up by 1.03%, Nifty up by 1.82%

Live Mint  

Axis Bank Share Price Today on 25-11-2024: At 25 Nov 11:26 today, Axis Bank shares are trading at price ₹1154.75, 1.03% up from the previous closing price. On the technical front, the stock is trading above the 5,10,300 days SMA & lower than the 20,50,100 day SMA. The stock will have support at 5,10,300 days SMA & face resistance at …

Axis Bank Share Price Today on 11-11-2024: Axis Bank share price are up by 0.44%, Nifty down by -0.03%
Trending News
1 month, 4 weeks ago

Axis Bank Share Price Today on 11-11-2024: Axis Bank share price are up by 0.44%, Nifty down by -0.03%

Live Mint  

Axis Bank Share Price Today on 11-11-2024: At 11 Nov 16:00 today, Axis Bank shares are trading at price ₹1166.6, 0.44% up from the previous closing price. On the technical front, the stock is trading above the 5,10,300 days SMA & lower than the 20,50,100 day SMA. The stock will have support at 5,10,300 days SMA & face resistance at …

Axis Bank Q2 Results: A Strong Performance Despite Market Challenges
2 months, 3 weeks ago

Axis Bank Q2 Results: A Strong Performance Despite Market Challenges

Live Mint  

Axis Bank reports a strong Q2FY25 performance, with a 18% rise in standalone net profit to ₹6,917.57 crore. The bank's net interest income (NII) rose 10% YoY, while the net interest margin (NIM) shrunk by four per cent. Despite the decline in NIM, the bank's margin excluding the one-time tax gain remained broadly maintained. The bank's net loans grew by …

Axis Bank Q4 results: Net profit at ₹7,130 crore, asset quality improves
8 months, 2 weeks ago

Axis Bank Q4 results: Net profit at ₹7,130 crore, asset quality improves

Hindustan Times  

Axis Bank on Wednesday reported a consolidated net profit of ₹7,599 crore during March 2024 quarter, but expressed concerns over deposit accretion in the new fiscal. Sequentially, the bank's net profit grew 17 per cent as compared to ₹6,071 crore earnings recorded in the preceding quarter of FY24. The bank reported a 22 per cent growth in net profit from …

ICICI Bank, SBI, Maruti, Lupin among top 16 picks by Axis Securities
1 year, 1 month ago

ICICI Bank, SBI, Maruti, Lupin among top 16 picks by Axis Securities

Live Mint  

Axis Securities has rolled over its Nifty Base case December’24 target at 23000. Amongst the Financials Axis Securities remains bullish on ICICI Bank Ltd, State Bank of India, Bank of Baroda, mid-cap Federal Bank and small cap CreditAccess Grameen Ltd. The target price of Axis Securities at ₹1250 for ICICI Bank, ₹715 for SBI, ₹255 for Bank Of Baroda, ₹180 …

Axis Bank focuses on strong digi-retail banking; analysts bullish on stock
1 year, 1 month ago

Axis Bank focuses on strong digi-retail banking; analysts bullish on stock

Live Mint  

Axis Bank analyst day: Brokerages have maintained a "buy" rating on Axis Bank's stock following its analyst day, and they estimate a 13% to 23% upside for the stock. According to reports, providing comprehensive digital journeys and improving customer experiences were the main priorities of Axis Bank. Let's take a look at what the domestic brokerages have to say following …

Axis Bank to infuse ₹1,612 crore in Max Life through preferential allotment
1 year, 5 months ago

Axis Bank to infuse ₹1,612 crore in Max Life through preferential allotment

Live Mint  

Axis Bank will raise its stake in Max Life to 16.22% from 9.99%by infusing ₹1,612 crore through a preferential allotment of shares. “This is with reference to our earlier letters dated April 28, 2020, July 23, 2020, August 24, 2020, October 30, 2020, February 24, 2021, April 6, 2021, and January 10, 2023, informing that Axis Bank Limited and its …

Axis Bank share price Today Live Updates : Axis Bank closed today at ₹971.4, down -0.66% from yesterday's ₹977.9
1 year, 5 months ago

Axis Bank share price Today Live Updates : Axis Bank closed today at ₹971.4, down -0.66% from yesterday's ₹977.9

Live Mint  

On the last day, Axis Bank opened at ₹970.6 and closed at ₹977.9. Axis Bank share price Live :Axis Bank trading at ₹972.45, down -0.56% from yesterday's ₹977.9 The current price of Axis Bank stock is ₹972.45, which represents a percent change of -0.56. Axis Bank share price NSE Live :Axis Bank trading at ₹972, down -0.6% from yesterday's ₹977.9 …

Axis Bank shares may give 30% return in long term, says Prabhudas Lilladher
1 year, 10 months ago

Axis Bank shares may give 30% return in long term, says Prabhudas Lilladher

Live Mint  

Axis Bank shares have been in base building mode after ushering in new year 2023. In YTD time, Axis Bank share price has slipped from around ₹942 per share to ₹845 per share levels, logging more than 10 per cent loss in 2023. However, Prabhudas Lilladher believes that Axis Bank shares are out of base building mode and it is …

Axis Bank Completes Acquisition of Citibank's India Business; What It Means For Customers
1 year, 10 months ago

Axis Bank Completes Acquisition of Citibank's India Business; What It Means For Customers

News 18  

Mumbai-headquartered Axis Bank has completed the acquisition of the India consumer business of the Citigroup-owned foreign bank Citibank for Rs 12,325 crore. The deal, announced in March 2022, will see India’s third largest private sector bank absorbing Citibank’s consumer businesses covering loans, credit cards, wealth management and retail banking operations in India. In a stock exchange filing last week, Axis …

Axis Bank Q3 Results: Net Profit Rises 62 Per Cent To Rs 5,853 Crore
1 year, 11 months ago

Axis Bank Q3 Results: Net Profit Rises 62 Per Cent To Rs 5,853 Crore

ABP News  

Axis Bank, one of India's biggest private sector lenders, on Monday clocked a 62 per cent rise in net profit at Rs 5,853 crore for the quarter ended December 2022, driven by increase in net interest income and decline in bad loans. Axis Bank's total income increased to Rs 26,892 crore in the quarter from Rs 21,101 crore in the …

Axis Bank to raise Rs 12,000 crore through Tier II bonds; details here
2 years, 1 month ago

Axis Bank to raise Rs 12,000 crore through Tier II bonds; details here

Firstpost  

The government sold its entire 1.55 per cent stake in Axis Bank last month, amounting to 46.5 million shares. The floor price of the sale was set at Rs 830.63 per equity Axis Bank has announced that it is going to raise funds amounting to Rs 12,000 crore via Tier II bonds. The State Bank of India sold 10-year infrastructure …

Bain Capital to sell $410 million Axis Bank stake
2 years, 2 months ago

Bain Capital to sell $410 million Axis Bank stake

Live Mint  

Bain Capital will sell a 1.24% stake in private lender Axis Bank Ltd through a block trade on Tuesday, which is expected to fetch the private equity investor $410 million, according to the deal terms seen by Mint. Bain Capital holds a 4.24% stake in Axis Bank as of 30 September through three entities - BC Asia Investments VII, BC …

The test for Axis Bank, after a stellar Q2
2 years, 2 months ago

The test for Axis Bank, after a stellar Q2

Live Mint  

There is exuberance among Axis Bank Ltd’s investors. For the second quarter, Axis Bank’s performance can be described as focused earnings delivery after a balance-sheet strengthening phase, said analysts at ICICI Securities Ltd. Govt looking to sell stake in listed rail firms HUL investors must keep expectations low After Q2 results, several broking firms revised the bank’s earnings estimates upwards. …

Samsung launches credit card in India in partnership with Axis Bank: check out the benefits
2 years, 3 months ago

Samsung launches credit card in India in partnership with Axis Bank: check out the benefits

India Today  

Samsung has introduced a credit card for Indian consumers. The card offers 10 per cent cashback on Samsung products and services around the year, in addition to several other benefits. The Samsung Axis Bank Credit Card is designed to reward consumers every time they use their card to buy Samsung products and services. The credit card also comes with complimentary …

Axis Bank's Acquisition of Citi's Consumer Business in India for Rs 12,325 Crore Gets CCI Nod
2 years, 5 months ago

Axis Bank's Acquisition of Citi's Consumer Business in India for Rs 12,325 Crore Gets CCI Nod

News 18  

The Competition Commission of India has approved the Rs 12,325 deal of Axis Bank’s acquisition of Citibank’s consumer businesses in India, the authority announced on Tuesday, July 26. “Commission approves acquisition of Citibank, N.A.’s and Citicorp Finance Limited’s undertakings comprising of their consumer banking activities by Axis Bank,” the CCI said on Twitter. Commission approves acquisition of Citibank, N.A.’s and …

Axis Bank Q1 Results: Lender's Net Profit Nearly Doubles To Rs 4,125 Crore; NII Up 21 Per Cent
2 years, 5 months ago

Axis Bank Q1 Results: Lender's Net Profit Nearly Doubles To Rs 4,125 Crore; NII Up 21 Per Cent

ABP News  

Private sector lender Axis Bank on Monday announced its April-June quarter results, the PTI reported. The bank said its net profit nearly doubled to Rs 4,125 crore in the first quarter of FY23, as bad loans decline. According to the report, Axis Bank had clocked a net profit of Rs 2,160 crore in the corresponding quarter of the previous fiscal …

Axis Bank Fixed Deposit, Savings Account Interest Rates Hiked: Check Latest Rates Here
2 years, 6 months ago

Axis Bank Fixed Deposit, Savings Account Interest Rates Hiked: Check Latest Rates Here

News 18  

Axis Bank Interest Rate Hike: Leading private sector lender Axis Bank has good news for its customers. Axis Bank FD Interest Rates The Axis Bank FD rate hike comes at a time when leading banks are increasing their fixed deposit interest rates. Here are the revised interest rates on fixed deposits below Rs 2 crore at the Axis Bank from …

Axis-Citi's Retail Network Merger: What Will Happen to Employees, Their Salaries?
2 years, 9 months ago

Axis-Citi's Retail Network Merger: What Will Happen to Employees, Their Salaries?

News 18  

Axis Bank-Citi Merger: The employees of Citibank who will choose to join Axis Bank will keep enjoying the same pay structures as present, a report quoting sources said on Friday. On March 30, private lender Axis Bank said it had agreed to acquire Citi India’s retail assets for $1.6 billion. “The addition of experienced wealth managers from Citi would give …

Citi India Debit, Credit Cards Users: What Will Happen to You After Axis Deal
2 years, 9 months ago

Citi India Debit, Credit Cards Users: What Will Happen to You After Axis Deal

News 18  

With Axis Bank on Wednesday announcing to acquire Citibank’s consumer business in India, it will effect churning of Citi India’s retail customers to move to Axis Bank. Here’s what debit and credit card customers need to know about the deal and its impact: Citi Credit Card Users: What’s the Next Step According to the RBI’s latest data, the total number …

Axis Bank-Citi India Retail Business Deal Worth $1.6 Billion; Know Details
2 years, 9 months ago

Axis Bank-Citi India Retail Business Deal Worth $1.6 Billion; Know Details

News 18  

Citi India on Wednesday, March 30, declared that private lender Axis Bank will acquire the group’s retail assets in India for an amount of $1.6 billion. Under the agreement between Axis Bank and Citi India, the former will acquire the foreign company’s consumer business in the country through milestone-linked payments. Speaking about the deal, Citi India CEO Ashu Khullar said …

Axis Bank set to buy Citigroup's India consumer business; deal to be announced soon
2 years, 9 months ago

Axis Bank set to buy Citigroup's India consumer business; deal to be announced soon

Firstpost  

The Citigroup’s retail business comprises credit cards, retail banking, home loans and wealth management. The bank has 35 branches in the country and employs about 4,000 people in the consumer banking business New Delhi: Private sector lender Axis Bank is close to acquiring Citigroup’s retail banking business in India and a deal is likely to be announced soon, sources said …

Axis Bank to Take Over Citi India's Retail Business for $2 Billion; Announcement Today
2 years, 9 months ago

Axis Bank to Take Over Citi India's Retail Business for $2 Billion; Announcement Today

News 18  

Axis Bank is all set to acquire Citi India’s retail assets for $2 billion, according to sources. The retail business of Citi India includes credit cards, wealth management and retail customer accounts. This deal, where Axis Bank is set to acquire Citi’s consumer business in India, will have milestone-linked payments. Axis Bank was given the nod to acquire Citigroup’s retail …

Axis Bank Shares Jump Over 6% After Stellar Show In Q3
2 years, 11 months ago

Axis Bank Shares Jump Over 6% After Stellar Show In Q3

ABP News  

New Delhi: Private lender Axis Bank’s shares on Tuesday jumped over 6 per cent after the bank’s consolidated net profit for the December quarter zoomed almost three times. The bank’s core net interest income grew 17 per cent to Rs 8,653 crore on the back of a 17 per cent loan growth and a marginal expansion in the net interest …

Axis Bank executes first domestic trade deal on govt-backed blockchain platform
2 years, 11 months ago

Axis Bank executes first domestic trade deal on govt-backed blockchain platform

Live Mint  

MUMBAI: Private lender Axis Bank on Monday said it has successfully executed industry-first blockchain-enabled domestic trade transaction with Arcelor Mittal Nippon Steel India, and Lalit Pipes & Pipes Ltd on Secured Logistics Document Exchange, a government-backed platform. According to the bank, the platform provides a seamless experience to all participants involved in the trade transaction, giving them visibility of the …

Axis Bank ATM Cash Withdrawal, Non-maintenance of Balance Charges to Increase from May. Know Here
3 years, 8 months ago

Axis Bank ATM Cash Withdrawal, Non-maintenance of Balance Charges to Increase from May. Know Here

News 18  

Axis Bank is all set to increase several charges for its savings bank account and salary account holders, starting from May 1. If you are a customer of Axis Bank, here is all you need to know 1) From May 1, the Axis Bank customers need to maintain a monthly balance of Rs 15,000. For the Prime and Liberty branded …

Govt to raise 22,000 cr by selling stake in Axis Bank, ITC; deal to be completed by second week of May
4 years, 8 months ago

Govt to raise 22,000 cr by selling stake in Axis Bank, ITC; deal to be completed by second week of May

Firstpost  

Shares of ITC and Axis Bank declined on Wednesday after news reports that the central government is looking to sell stake in these companies. The Union government is reportedly looking to raise Rs 22,000 crore by selling its stake in ITC and Axis Bank, which it holds through the Specified Undertaking of the Unit Trust of India, in a bulk …

Axis Bank back in the black with ₹1,505 crore profit in Q4
5 years, 8 months ago

Axis Bank back in the black with ₹1,505 crore profit in Q4

Live Mint  

Private sector lender Axis Bank on Thursday reported a net profit of ₹1,505 crore in the March quarter of FY19, as against a loss of ₹2,188.7 crore in the same period last year. Axis Bank’s other income, which includes core fee income, rose 26% y-o-y to ₹3,526.28 crore in the three months to March 2019. The bank’s gross non-performing assets …

Govt plans Axis Bank stake sale to raise up to ₹5,316 crore
5 years, 10 months ago

Govt plans Axis Bank stake sale to raise up to ₹5,316 crore

Live Mint  

The government will sell part of its stake in Axis Bank held through SUUTI to raise up to ₹5,316 crore starting Tuesday, according to a filing. "The Specified Undertaking of the United Trust of India proposes to sell up to 50,759,949 equity shares of Axis Bank on February 12, 2019," Axis Bank said. As per the filing, the government would …

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