Loan book of Axis Bank's GIFT City unit doubles to $4 billion in 5 years

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Private lender Axis Bank on Wednesday said the asset book of its IFSC Banking Unit (IBU) at Gujarat International Finance Tec-City (GIFT City) in Gandhinagar has doubled to USD 4 billion from USD 2 billion in 2019.

Similarly, on the liability side, we have a USD 1 billion deposit, which once again makes us among the highest in terms of deposits as well...from USD 2 billion in 2019, we have doubled our asset book," its Deputy Managing Director Rajiv Anand told mediapersons.

"In terms of size, today our asset book here is a little over USD 4 billion, which is among the largest in GIFT City.

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Category: BusinessFinance

Markets: India

Topics: Loan book Gujarat International Finance Tec-City GIFT City Axis Bank IFSC unit

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News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-27 @ 17:04:55 (5 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 452 words

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Copyright Owner: © Business Standard

News ID: 23905220

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