Axis Bank opens branch in Colombo
Indunil Hewage
Axis Bank, the third largest private bank in India expanded its
presence in Sri Lanka. The opening of its first branch in Colombo bids
to facilitate corporate and debt financing in the country.
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Axis Bank Chairman Adarsh Kishore greeting Central Bank Governor
Ajith Nivard Cabraal at the opening. Indian High Commissioner
Ashok Kantha and Axis Bank’s MD and CEO Shikha Sharma looks on.
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"Sri Lanka has an experienced and evolving financial market and
capital formation will play a dominant role in the development of Sri
Lankan economy. The US$ 50 billion Sri Lankan economy is projected to
cross US $ 100 billion size in next four to five years. This is not a
merely statistical jump, it's a qualitative jump,"Axis Bank Chairman
Adarsh Kishore said.
"Having seen the promising prospective of Economic development in Sri
Lanka, Axis bank has put a giant step to thrive the cross border
investments between India and Sri Lanka," he said.
Axis bank looks forward to participate in SME enterprises,
agriculture, retail banking, infrastructure projects and remittance
sectors in Sri Lanka.
"We are not here to cut somebody's territory. Our main aspiration is
to adding new values to the entire banking industry with a segmented
approach while assisting the established and sophisticated ventures to
further expand their businesses and attracting more deprived segments in
the society into a monetized section," the Chairman said.
Axis Bank has already managed to reach out to a larger cross section
of customers with an array of products and services while expanding its
footprint in Singapore, Hong Kong, Dubai, Sri Lanka and representative
offices in Shanghai, Dubai and Abu Dhabi.
The bank's network spreads across 953 cities and towns with over 1456
branches. |
