Axis Bank decides to close operation of its subsidiary in UK

Axis Bank has been reviewing its international strategy and as part of this has adopted a clear objective to focus on the Indian Banking market and harness the potential there.

In line with the said objective, the Bank has taken a decision to fully wind down and close the operations of Axis Bank UK, a subsidiary of the Bank and targeting for surrendering of the banking license by end of April 2021, which has been reviewed with the UK regulators viz. both the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA).

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