Axis Bank CEO Rules Out Interest in Yes Bank Acquisition
Amitabh Chaudhry’s Stance
Amitabh Chaudhry, the MD & CEO of Axis Bank, has made it clear that the bank is not considering acquiring Yes Bank or IDBI Bank. He emphasized this point by stating, “We are not looking at them, categorically.”
Open to Opportunities
Despite ruling out specific banks for acquisition, Chaudhry mentioned that Axis Bank is open to exploring other growth opportunities. He believes that the bank should never say no to any opportunity that may come its way.
Criteria for Mergers and Acquisitions
Chaudhry explained that any potential merger or acquisition target should bring significant value to the bank. He cited the example of the Citi acquisition, which made sense for Axis Bank and was won through a bidding process.
Capital Raise Plans
Chaudhry stated that Axis Bank is well-capitalized, even after funding the Citi acquisition internally. He mentioned that the bank is not currently looking to raise capital, as the industry growth rate is slowing down and they have sufficient provisions for COVID-related risks.
Focus on Deposit Growth
Chaudhry highlighted the importance of deposit growth for the bank’s asset growth. He mentioned that while they could aggressively pursue deposit growth, it could impact the long-term health of the institution. Axis Bank is focused on maintaining a balance between growth and stability.
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Disclaimer: This blog post is for informational purposes only and should not be considered financial advice. Investors should conduct thorough research and consult with a qualified financial advisor before making any investment decisions.