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India’s third largest private sector lender Axis Bank has launched its subsidiary in the United Kingdom to commence its banking operations there.
On April 19, 2013, the bank had received approval from the UK regulators to carry out the entire range of banking business, including deposit taking, making loans & advances and Investments.
Cyril Anand, MD & CEO, Axis Bank UK Ltd, said: “The bank would participate in corporate banking, retail banking & leverage business opportunities available in the UK and the rest of European Economic Area.”
With this branch, the bank's overseas presence has grown to eight foreign offices, i.e. four branches, one each at Singapore, Hong Kong, DIFC (Dubai) and Colombo (Sri Lanka), three representative offices at Shanghai (China), Dubai and Abu Dhabi and an overseas subsidiary in London, UK.
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