Axis Bank to sell UK arm to tech platform

Axis Bank has informed the exchanges that it has agreed to sell its UK subsidiary to OpenPayd Holdings. According to the filing, the UK arm contributed Rs 206 crore total income in FY20 and had a net worth of Rs 765 crore as of March 2020. This is almost 1% of the bank’s net worth.

from Markets-Economic Times https://ift.tt/3dnh6U7