Axis bank: bringing a new bank to Britain

With a presence in the major financial hubs across Asia, Axis Bank, India’s third-largest private sector bank, was looking to make its first foray into Western markets. This international expansion strategy is critical to Axis and the bank called on us to help it through a lengthy and complex bank regulatory approval process. We worked with Axis through the regulatory application process, from facilitating their initial meeting with the UK financial regulator, through to advice and guidance on all aspects of the application such as premises, governance, liquidity, anti-money laundering (AML) and compliance over a two year period. Having received permission to start banking operations in the UK, Axis has now set up a subsidiary in the City of London.

“The opening of the subsidiary is a key milestone for us as the United Kingdom is an important destination for many Indian companies. We are excited to be a part of their success and thrilled to be open for business in the UK.”

Shikha Sharma, Axis Bank CEO

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