Axis Bank, one of India’s major private sector banks, marked a historical milestone today with the opening of its 5000th branch in Ahmedabad, Gujarat. The landmark branch was launched by Shri. Bhupendrabhai Patel, Gujarat’s Chief Minister, in the presence of Amitabh Chaudhry, Managing Director & Chief Executive Officer, Axis Bank, and Ravi Narayanan, Group Executive & Head – Branch Banking, Retail Liabilities and Products, Axis Bank. Axis Bank inaugurated an additional 100+ new branches in different regions of the country today, reinforcing its commitment to making banking solutions accessible to diverse sectors of customers.
The opening of Axis Bank’s 5000th branch in Ahmedabad is significant because the bank’s very first branch, then known as UTI Bank, was inaugurated in the same city 29 years ago, in 1994. Former Prime Minister Dr. Manmohan Singh opened the first branch.
Commenting on the inauguration, Amitabh Chaudhry, MD & CEO, Axis Bank said, “This milestone has a special significance for Axis Bank. From the first branch at Ahmedabad to the 5000th, we have completed one full circle of growth and progress. Through the years we have opened thousands of branches across the country, not just in metros and urban centres but also in the rural heartlands, in hilly terrains, near borders and in some of the most impassable regions, taking us to the Bharat that we want to serve. Every new branch is a step closer to our vision of economic growth, financial inclusion and empowerment of communities, touching and transforming countless Indian lives.”
Axis Bank’s branch network is robust as of June 30, 2023, with 4,945 branches, 9,434 ATMs, and 6,317 recyclers dispersed across the country. Around 29% of its branches are in metro areas, 23% in urban areas, 31% in semi-urban areas, and 17% in rural areas. The bank has concentrated on developing a separate Bharat Banking model in order to access semi-urban and rural areas (RUSU). To deliver banking services to underserved populations, it has deployed 2250 Bharat Banking offices and 61,800 Common Service Centre – Village Level Entrepreneurs (VLEs).
Speaking on this milestone branch inauguration Ravi Narayanan, Group Executive & Head – Branch Banking, Retail Liabilities and Product, said, “It’s an immensely proud moment for all of us, as we celebrate this momentous occasion at Axis Bank. The opening of this milestone branch is a true embodiment of our journey of trust, commitment, dedication, and excellence. We are delighted to announce that today we are inaugurating an additional 100+ new branches in other parts of the country, to bring banking solutions closer to our customers’ doorstep. As we move forward, we will continue to harness our people strength as well as digitization, to ensure that our banking services not only meet but exceed the expectations of our customers.”
As it looks ahead, Axis Bank’s objective remains consistent: to provide new banking solutions and provide outstanding customer experiences, thereby making it one of India’s most loved and preferred banks.