Axis Bank : CONFIDENTIALITY AND EXCLUSIVITY ARRANGEMENT
February 20, 2020 at 06:09 am EST
Share
Regulatory Story
Go to market news section
Axis Bank Limited - AXB
CONFIDENTIALITY AND EXCLUSIVITY ARRANGEMENT
Released 11:02 20-Feb-2020
RNS Number : 6201D
Axis Bank Limited
20 February 2020
AXIS/CO/CS/981/2019-20
20th February 2020
Dear Sir(s),
SUB.: CONFIDENTIALITY AND EXCLUSIVITY ARRANGEMENT WITH MAX FINANCIAL SERVICES LIMITED
REF: REGULATION 30 OF SEBI (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2015 (THE LISTING REGULATION)
This is to inform you that Axis Bank Limited and Max Financial Services Limited have entered into a confidentiality and exclusivity arrangement to explore a long-term strategic partnership, subject to, inter alia, receipt of applicable regulatory approvals and corporate authorisations, satisfactory completion of due diligence, and execution of definitive documentations.
In the event of satisfactory completion of the above requirements, the Bank shall submit the requisite information in accordance with the relevant provisions of Regulation 30 of the Listing Regulations.
A copy of the Press Release on the above is enclosed herewith, with a request to take the same on record and bring it to the notice of all concerned.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
London Stock Exchange plc is not responsible for and does not check content on this Website. Website users are responsible for checking content. Any news item (including any prospectus) which is addressed solely to the persons and countries specified therein should not be relied upon other than by such persons and/or outside the specified countries. Terms and conditions, including restrictions on use and distribution apply.
Axis Bank Ltd. published this content on 20 February 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 February 2020 11:07:20 UTC
Axis Bank is a banking group organized around 3 areas of activity:
- retail banking 42.3% of gross income);
- business banking (31.9%);
- treasury management (25.8%).
At the end of March 2018, the group managed EUR56.8 billion in current deposits and EUR56.1 billion in current credits.
Products and services are marketed through a network of 3,703 branches located in India.