International banking alliance bolsters its member network and welcomes Axis Bank Ltd India

This press release was published in Business Money here, Treasury Today here and Banking Frontiers here. 

International banking alliance bolsters its member network and welcomes Axis Bank Ltd India

25 February, 2025, Mumbai: IBOS Association (IBOS), an international banking network, is delighted to announce its newest member, Axis Bank Ltd, based in Mumbai. Since its launch in 1994, IBOS has developed into a global banking and cash management alliance, with its member banks now providing geographic coverage to clients across the globe. This addition expands IBOS’ geographic coverage in India, boosting opportunities for member banks’ corporate clients.

In addition to enriching IBOS’ strong geographic coverage in India, Axis Bank will provide specialist local knowledge to help businesses prosper in India. Embracing growth, innovation and sustainability, Axis Bank generates captivating global opportunities for all IBOS member banks, particularly as India has a vital role in the development of modern emerging financial markets.

Vivek Gupta, President and Head – Wholesale Banking Products, Axis Bank, said, “We are delighted to be the newest member bank to join IBOS and becoming the Indian representative within this global network. IBOS has successfully proven its ‘open for business’ model and effectively providing SME & corporate clients with local banking support around the world. The IBOS network is a perfect addition to our international partner strategy and enables clients to realise their international sustainable growth ambitions into the growing Indian Market.”

As a unique international alliance consisting of some of the largest banks in the world, IBOS helps customers operate efficiently, avoiding exchange rate risks and streamline cash management in multiple jurisdictions through its innovative online portal centred on opening accounts for its members banks’ new corporate customers.

The IBOS online platform has changed how the market operates, as it permits businesses to operate across different jurisdictions where they themselves are not present.

Manoj Mistry, Managing Director at IBOS, added: “We are pleased to expand the IBOS network’s pool of knowledge and increase our geographic reach in India. This enables us to provide further benefits and options for our existing members and their corporate clients, allowing businesses to prosper in additional markets.”

Mario Domenico Recchia, Chairman of IBOS Board, also commented: “This is an exciting time for IBOS as the network is expanding in different jurisdictions, confirming the attractiveness of our value offering to members’ corporate clients. I look forward to working with the Axis Bank team in India and enhancing this fruitful collaboration across our network of member banks.”

IBOS is keen to continue expanding its international alliance across the globe. Through IBOS, members provide local banking services across the globe 24/7.

-ENDS-

About IBOS Association

Since its launch in 1994, IBOS has developed into a global banking and cash management alliance, with its member banks now providing geographic coverage to clients across the globe as follows: Axis Bank Ltd, Coöperatieve Rabobank U.A. (Netherlands), Santander Group (UK, USA, Spain, Portugal, Poland, Germany, Brazil, Colombia, Peru, Uruguay, Chile and Mexico), Bank of Ireland, CIC – Crédit Mutuel – Alliance Fédérale (France), Intesa Sanpaolo S.p.A. (Italy, Slovenia, Croatia, Germany and Romania), KBC Bank NV / CBC Bank (Belgium, Bulgaria, Czech Republic, France, Hungary and Slovakia), NatWest (UK), Royal Bank of Scotland (UK), Nykredit (Denmark), Royal Bank of Canada, and Silicon Valley Bank (USA).

About Axis Bank
Axis Bank is one of the largest private sector banks in India. Axis Bank offers the entire spectrum of services to customer segments covering Large and Mid-Corporates, SME, Agriculture, and Retail Businesses. As on 30th September 2024, the Bank’s overall distribution network includes 5,577 domestic branches and extension counters along with 182 Business Correspondent Banking Outlets (BCBOs) situated across 3,062 centres and 14,728 ATMs and cash recyclers. The network of Axis Bank enables the Bank to reach out to a large cross-section of customers with an array of products and services. The Axis Group includes Axis Mutual Fund, Axis Securities Ltd., Axis Finance, Axis Trustee, Axis Capital, A.TReDS Ltd., Freecharge, Axis Pension Fund and Axis Bank Foundation.

For further information on Axis Bank, please visit https://www.axisbank.com.