Axis Bank opens new branch in J&K

Axis Bank, India’s third largest private Bank, has opened a new branch in Munwarabad, Srinagar in Jammu and Kashmir (J&K). With the opening of this branch, the bank has now 26 branches in state. Further, the bank is also planning to establish more branches, and cover each and every part of the state. The bank has reported a rise of 18.47% in its net profit after tax at Rs 1842.32 crore for the quarter ended March 31, 2014 as compared to Rs 1555.15 crore for the same quarter in the previous year. Total income of the bank has increased by 12.41% at Rs 10178.63 crore for quarter under review as compared to Rs 9054.72 crore for the quarter ended March 31, 2013.