Axis Bank, India’s third largest private bank, today announced the opening of its Representative Office in Dhaka, Bangladesh by H.E. Pankaj Saran, High Commissioner of India to Bangladesh in the presence of Mr. P Mukherjee, Group Executive, Corporate Relationship Group & International Business, Axis Bank. The Representative Office, located atLaila Tower, 5th Floor, 8, Gulshan Avenue, would primarily promote the Bank’s Trade Finance business arising from Indo-Bangladesh and also tap opportunities arising from trade flows between Bangladesh and major financial markets, where the Bank has a presence.
Speaking on the occasion, Mr. P Mukherjee, Group Executive, Corporate Relationship Group & International Business, Axis Banksaid: “TheBank aims to leverage the growing economic integration between the two countries by actively facilitating trade transactions, both in bound as well as out bound. The Bank will also contribute towards employment generation, both directly and indirectly in the country. Dhaka operations will further strengthen our presence in Asia.”
The Representative Office will also enable the Bank to move up the value chain and enhance its risk return, through secondary market risk participations withbanks in Bangladesh.
Axis Bank has already established its presence through branches in Singapore, Hong Kong DIFC – Dubai, Colombo and Shanghai, Representative Offices at Dubai & Abu Dhabi and Axis Bank UK Limited, a wholly-owned subsidiary of the Bank. The Business offerings include Corporate Loans, Trade Finance Products, Debt Syndication and Liability Business. Total Overseas Assets of the Bank stood at USD 7.51 billion, as on September 30, 2015.
Mr. SumitGoswami, Chief Executive Officer (Designate) will be in-charge of the Bank’s Representative Office in Dhaka.
About Axis Bank:
Axis Bank is the third largest private sector bank in India. Axis Bank offers the entire spectrum of services to customer segments covering Large and Mid-Corporates, SME, Agriculture and Retail Businesses.
With its 2,743 domestic branches (including extension counters) and 12,352 ATMs across the country, as on 30th September 2015, the network of Axis Bank spreads across 1,796 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 overseas offices in UK, Singapore, Hong Kong, Shanghai, Colombo, Dubai and Abu Dhabi. The Bank’s website www.axisbank.com offers comprehensive details about its products and services.