Axis Bank to Close U.K. Subsidiary
July 03 2020 - 12:07AM
Dow Jones News
By Kosaku Narioka
Axis Bank Ltd. plans to close its U.K. subsidiary and surrender
its banking license in the country by end-April 2021, as part of
the review of its international strategy, it said late
Thursday.
The Indian lender said it would ensure transparency and fairness
in dealing with all the employees and customers of the subsidiary,
Axis Bank UK Ltd., throughout the process of winding down.
The closure wouldn't have any material impact on the bank's
financial position, it said.
Write to Kosaku Narioka at kosaku.narioka@wsj.com
(END) Dow Jones Newswires
July 02, 2020 23:52 ET (03:52 GMT)
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