Axis Bank seeks shareholder nod July 31 to raise ₹55,000cr
Axis Bank, India's third-largest private lender, is gearing up to raise a massive ₹55,000 crore this fiscal year.
It will ask shareholders for the green light at its annual meeting on July 31.
The plan splits the funds between ₹20,000 crore from shares and convertible securities and ₹35,000 crore from debt, both in rupees and foreign currency.
Axis Bank new premium customers +25%
This big fundraise will help Axis Bank stay financially strong and ramp up its deposit game.
The bank's been focusing on premium customers lately, think higher balances and more active accounts.
Managing Director and Chief Executive Officer Amitabh Chaudhry shared that new premium customers are up 25% year-on-year, premium salary accounts jumped 38%, and engagement is growing fast.
He emphasized using smart data strategies to turn casual users into loyal ones as part of its growth push.