Axis Bank appoints M M Agrawal as Deputy Managing Director

Company Brief

Chennai, August 4, 2009

The Board of Directors of Axis Bank Ltd., today appointed Mr. M M Agrawal as Deputy Managing Director. He is currently Executive Director (Corporate Banking) of the Bank.

“Mr. Agrawal’s elevation as the Deputy Managing Director will further strengthen the top management team of the Bank and take it to the next growth orbit” Ms. Shikha Sharma, Managing Director & CEO, Axis Bank Ltd said.

The board meeting also passed an enabling resolution that will allow the bank to raise up to 7.14 crore equity shares (up to 20% of the present paid up capital). The Bank is adequately capitalised for its current needs and this enabling resolution will facilitate it to raise capital at an appropriate time to support future growth.

The appointment of Mr. Agrawal as well as the enabling resolution on capital raising are subject to all necessary statutory and regulatory approvals.

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Sampark PR

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