AXISBANK

By Jaspreet Kalra

MUMBAI, April 6 (Reuters) - The Reserve Bank of India's tightening of foreign exchange rules will help shield the rupee from pressures emanating from offshore markets, but traders may continue drawing pricing signals from those markets, a senior Axis Bank official said.

A 4.5% fall in the Indian rupee since the breakout of the Iran war prompted the central bank to impose a cap on banks' net open FX positions in the onshore markets in late March.

The RBI also barred lenders from offering non-deliverable forward contracts to clients and stopped firms from re-booking canceled FX contracts in order to curb speculation.

The rupee gained 2% last Thursday and traded 0.3% higher at 92.81 per dollar on Monday.

"RBI has effectively broken the direct link between the onshore market and the offshore market," said Neeraj Gambhir, executive director for treasury, markets and wholesale banking products at Axis Bank, on Thursday.

"If there is a lot of speculative activity in the offshore market against the INR, it will no longer translate into the onshore dollar demand and will not deplete RBI's FX reserves."

The RBI first opened the NDF market to Indian banks in June 2020 and to resident Indians in June 2023, to deepen participation. The central bank opened up local access to the market despite reservations among a committee headed by a former Deputy Governor.

Since opening the NDF market to local participants, the central bank has placed both informal and formal restrictions on accessibility.

"If we recall the FX market before the integration of offshore and onshore, the onshore pricing used to be heavily influenced by offshore," Gambhir said.

Gambhir reckons that if the RBI's measures don't end up delivering the desired outcomes, the central bank may turn to direct measures for shoring up dollar supply or curtailing some dollar demand.

In the past, the central bank has used dedicated dollar-buying windows for oil companies and facilities to mobilize foreign currency deposits from non-resident Indians when the rupee came under sustained pressure.

The rupee's recent weak run against the dollar does not pose a financial stability risk, according to Gambhir.

"The level of depreciation is not in any way out of sync with what is happening in the rest of the world, particularly when you compare against other Asian and emerging markets which are also large importers of crude oil."

RATES ON HOLD

India's central bank is slated to announce its monetary policy decision on April 8. All but two out of 71 economists polled by Reuters expect the RBI to hold rates.

Gambhir shares that view, adding that the central bank should ensure surplus liquidity in the banking system.

The central bank is also due to present its first forecasts for growth and inflation for the 2026‑27 financial year, that will likely account for spillover impact from the war in the Middle East.

(Reporting by Jaspreet Kalra; Editing by Ronojoy Mazumdar)

((jaspreet.kalra@thomsonreuters.com; +91-8769636545;))

March 20 (Reuters) - Zee Learn Ltd ZEEE.NS:

• NCLT MUMBAI DISMISSES AXIS BANK PETITION AGAINST ZEE LEARN AS WITHDRAWN

Source text: ID:nNSE2hn2M2

Further company coverage: ZEEE.NS

((Reuters.Briefs@thomsonreuters.com;;))

MUMBAI, March 18 (Reuters) - Indian billionaire Mukesh Ambani's Reliance Jio Platforms has hired 17 banks to manage its Mumbai stock listing, which will see the company raise no new funds and allow exits for some shareholders, four sources familiar with the matter said.

The IPO will be executed as a so-called "offer for sale" in India, three of the sources said, where only existing shareholders sell their shareholding to public.

Reliance did not respond to Reuters queries.

Over the past six years, Jio has diversified into artificial intelligence and raised funds from well-known investors including KKR KKR.N, General Atlantic, Silver Lake and the Abu Dhabi Investment Authority.

(Reporting by Vibhuti Sharma and Jayshree P Upadhyay in Mumbai and Aditya Kalra in Delhi; Editing by Sumeet Chatterjee and Joe Bavier)

((Vibhuti.Sharma@thomsonreuters.com;))

March 13 (Reuters) - Shree Digvijay Cement Co Ltd SRDC.NS:

• EXECUTES FACILITY AGREEMENT WITH ICICI BANK AND AXIS BANK

• TOTAL BORROWINGS AMOUNT TO 4.88 BILLION RUPEES

Source text: ID:nNSEbGB3Tm

Further company coverage: SRDC.NS

((Reuters.Briefs@thomsonreuters.com;;))

MUMBAI, March 9 (Reuters) - India's Axis Finance accepted bids worth 4.95 billion rupees ($53.61 million) for the sale of bonds maturing in 10 years, three bankers said on Monday.

It will pay a coupon of 7.74% and had invited commitment bids for the issue earlier in the day, they said.

The company did not immediately respond to a Reuters email seeking comment.

Here is the list of deals reported so far on March 9:

*Size includes base plus greenshoe for some issues

($1 = 92.3350 Indian rupees)

(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Nivedita Bhattacharjee)

((Dharamraj.dhutia@tr.com, khushi.malhotra@tr.com))

March 6 (Reuters) - Axis Bank Ltd AXBK.NS:

• AXIS ENTITIES PROVIDED IN-PRINCIPLE NO OBJECTION TO MERGER OF MAX FINANCIAL, AMLI

Source text: ID:nBSE5GfmX6

Further company coverage: AXBK.NS

((Reuters.Briefs@thomsonreuters.com;;))

By Dharamraj Dhutia and Khushi Malhotra

MUMBAI, March 5 (Reuters) - Robust demand from long-term investors for an Indian state-run lender's mega infrastructure bond issue this week has prompted two others to tap the market before the end of the financial year, three sources familiar with the matter said on Thursday.

Bank of India BOI.NS and Punjab National Bank PNBK.NS are among lenders that could issue infrastructure bonds over the next three weeks.

Bank of India could raise up to 100 billion rupees ($1.09 billion), while PNB will consider a 20-50 billion-rupee issue, the sources added, requesting anonymity as they're not authorised to speak to the media.

The lenders did not reply to Reuters' emails seeking comment.

Earlier this week, Bank of Baroda BOB.NS raised 100 billion rupees through seven-year infra bonds at a 7.10% coupon, below the 7.25% level that the market had expected, signalling elevated demand for the issue.

"Nearly 60%-70% of Bank of Baroda's bond was absorbed by a large state-run provident fund, and its peers are anticipating a similar response to their issuances," one of the sources said.

"Had it not been for the PF bids, the cutoff could have easily have been closer to 7.25%."

Infrastructure bonds are used by banks to finance long-term development projects.

Three Indian lenders have raised an aggregate 250 billion rupees through these bonds so far this financial year, sharply lower than 892 billion rupees raised in the previous fiscal.

Bank of Baroda is only the third lender to raise this quantum of funds after Bank of India and Axis Bank AXBK.NS.

Bankers said that a lack of sufficient supply of such notes during the financial year could lead to stronger demand for the next few issuances as investors seek to meet their exposure requirements.

($1 = 91.5550 Indian rupees)

(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Sonia Cheema)

((Dharamraj.Dhutia@thomsonreuters.com;))

Feb 26 (Reuters) - Apple AAPL.O is in talks with several Indian banks and global card networks as it prepares to launch its Apple Pay service in India, Bloomberg News reported on Thursday, citing people familiar with the matter.

The iPhone maker is in talks with ICICI Bank ICBK.NS, HDFC Bank HDBK.NS and Axis Bank AXBK.NS, as it aims to introduce its payment service in India around the middle of 2026, the report said.

Reuters could not immediately verify the report.

(Reporting by Mihika Sharma in Bengaluru; Editing by Rashmi Aich)

((Mihika.Sharma@thomsonreuters.com;))

** Shares of Axis Bank AXBK.NS rise 1.5% at 1,389 rupees

** Bank clarifies that it has not submitted nor plans to submit any bid for a stake in CreditAccess Grameen CRDE.NS

** Citi ("Buy"; PT: 1,463 rupees) says confirmation decisively eliminates key market overhang of recent weeks

** Adds, AXBK's update likely removes apprehensions around capital deployment towards microfinance acquisition and earnings volatility associated with that business

** Stock rated "Buy" on average by 40 analysts; median PT at 1,500 rupees - data compiled by LSEG

** YTD, stock up 9.4% vs Nifty Bank index .NSEBANK up 2.7%

(Reporting by Mridula Kumar in Bengaluru)

((Mridula.Kumar@thomsonreuters.com;))

Feb 4 (Reuters) - Axis Bank Ltd AXBK.NS:

• CLARIFIES ON REPORT CO IN THE LEAD TO BUY OUT CREDITACCESS GRAMEEN

• EVALUATES VARIOUS OPPORTUNITIES IN ORDINARY COURSE FOR GROWTH, EXPANSION OF BUSINESS

Source text: ID:nNSE3v2q7G

Further company coverage: AXBK.NS

((Reuters.Briefs@thomsonreuters.com;;))

Jan 30 (Reuters) - Axis Bank Ltd AXBK.NS:

• RBI APPROVES AMENDED DEPOSIT AGREEMENT

• AMENDMENTS GRANT VOTING RIGHTS TO GDR HOLDERS

Source text: ID:nBSE1WwYnQ

Further company coverage: AXBK.NS

((Reuters.Briefs@thomsonreuters.com;))

** Axis Bank AXBK.NS extended gains to hit a record high of 1,369.40 rupees, last up 2.8%

** Lender's Q3 standalone net profit rises 3% year-on-year to 64.90 billion Indian rupees ($708.47 million); analysts had expected profit to fall to 60.79 billion rupees

** On Tuesday, AXBK posted its biggest daily percentage rise in 15 months, climbing ~4.6%

** Analysts at Centrum say AXBK's results outperformed expectations; with strong fee income momentum and improving cost-to-income dynamics, margin compression should become less of an issue

** Emkay Research hikes PT to 1,475 rupees from 1,400 rupees, says stock is trading at cheap valuations

** Stock rated "buy" on avg by 40 analysts; median PT is 1,500 rupees, per data compiled by LSEG

** AXBK rose 19.2% in 2025

($1 = 91.6063 Indian rupees)

(Reporting by Brijesh Patel in Bengaluru)

((Brijesh.Patel1@thomsonreuters.com; Ph no. +91 9590227221;))

** Axis Bank AXBK.NS rises 3.8% to 1,307.10 rupees

** Lender's Q3 standalone net profit rises 3% year on year to 64.90 billion rupees ($707.75 million); analysts had expected profit to fall to 60.79 billion rupees

** Q3 net interest income up 5% to 142.87 billion rupees

** Jefferies says pickup in loan growth to 14% was led by corporate, SME loans and expects slight moderation as last and future rate cut may force margin management or slower growth

** NII growth has bottomed out for Axis; co also surprised positively on both slippages and credit costs - ICICI Securities

** Stock rated "buy" on avg by 40 analysts; median PT is 1,440 rupees, per data compiled by LSEG

** AXBK rose 19.2% in 2025

($1 = 91.6990 Indian rupees)

(Reporting by Brijesh Patel in Bengaluru)

((Brijesh.Patel1@thomsonreuters.com; Ph no. +91 9590227221;))

Jan 26 (Reuters) - Axis Bank Ltd AXBK.NS:

• AXIS BANK Q3 NET INTEREST MARGIN AT 3.64%

Source text: [ID:]

Further company coverage: AXBK.NS

((Reuters.Briefs@thomsonreuters.com;))

By Dharamraj Dhutia and Khushi Malhotra

MUMBAI, Jan 23 (Reuters) - A 75 billion rupee ($816.58 million) debt sale by India's Adani Power ADAN.NS was corned by large Indian banks and mutual funds, who bought over 90% of the issue, three sources aware of the matter said on Friday.

Domestic banks and mutual funds invested 69.75 billion rupees as part of the issue, the bankers said, declining to be identified as they are not authorised to speak to the media.

Adani Power did not respond to an email seeking details of the bond issue, which closed for bidding on Friday.

India's Adani group firms shed $12.5 billion in market cap on Friday, after the U.S. markets regulator asked a court for permission to personally email summons to founder Gautam Adani and group executive Sagar Adani over alleged fraud and a $265 million bribery scheme.

The group has focused its borrowings mainly in the domestic market after shortseller Hindenburg Research made allegations around its corporate governance practices in 2023.

Adani Power raised 28.60 billion rupees via two-year bonds and 26.90 billion rupees via a three-year note. The remaining 6.75 billion rupees and 12.75 billion rupees were raised through four- and five-year papers.

The Adani unit will pay a coupon of 8.00% and 8.20% on the two- and three-year bonds, and 8.30% and 8.40% on four- and five-year papers.

SBI mutual fund, India's biggest in terms of assets under management, led the buying and invested 25 billion rupees, or one-third of the issue size, while Kotak Mutual Fund bought 6 billion rupees of debt, the bankers said.

ICICI Bank bought 11 billion rupees of bonds, while Axis Bank opted for 10 billion rupees of notes, they said.

SBI Mutual Fund, ICICI Bank and Axis Bank did not respond to emails seeking comment.

Trust Investment Advisors, ICICI Bank and Axis Bank are the arrangers for the issue.

Trust Investment Advisors did not respond to an email seeking comment.

The bonds are rated 'AA' by Crisil and India Ratings, with the coupons set to step up by 25 basis points for every notch of rating downgrade.

($1 = 91.8470 Indian rupees)

(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Ronojoy Mazumdar)

((Dharamraj.Dhutia@thomsonreuters.com;))

Updates with more details

By Dharamraj Dhutia and Khushi Malhotra

MUMBAI, Jan 21 (Reuters) - State Bank of India's mutual fund unit has committed to pick up at least 10% of Adani Power's ADAN.NS nearly $820 million rupee-denominated bond issue, likely to be launched later this week, three merchant bankers said on Wednesday.

The mutual fund, India's biggest in terms of assets under management, is acting as one of the anchor investors for the issue, with a commitment of 7.50 billion rupees, the bankers said, requesting anonymity as they are not authorised to speak to the media.

The planned 75 billion-rupee issue would be the group's largest-ever rupee bond sale.

SBI Mutual Fund and Adani Power did not respond to email queries.

Adani Power is looking to raise 28.60 billion rupees through a two-year option and 26.90 billion rupees via a three-year note.

SBI MF will buy 4.50 billion rupees and three billion rupees of these papers as the anchor investor, the bankers said.

The Adani unit will pay a coupon of 8.00% and 8.20% on the two- and three-year bonds, and 8.30% and 8.40% on four- and five-year papers.

The remaining 6.75 billion rupees and 12.75 billion rupees will be raised through four- and five-year papers, respectively, the bankers said.

Trust Investment Advisors, ICICI Bank and Axis Bank are the arrangers for the issue.

The lenders have will also back the issue by providing commitments worth 3.31 billion rupees and 3 billion rupees, respectively, the bankers said.

The banks did not reply to an email seeking comment.

The bonds are rated 'AA' by Crisil and India Ratings, with the coupons set to step up by 25 basis points for every notch rating downgrade.

Earlier this financial year, another group company, Adani Ports and Special Economic Zone APSE.NS, raised 50 billion rupees by placing 15-year bonds directly with Life Insurance Corporation of India LIFI.NS.

($1 = 91.5630 Indian rupees)

(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Sonia Cheema)

((Dharamraj.Dhutia@thomsonreuters.com;))

** Axis Bank AXBK.NS rises as much as 1.5% to 1,304.6 rupees, highest since July 19, 2024

** Co reports 14.1% y/y rise in gross advances, 15% rise in total deposits in Q3

** Citi anticipates corporate segment to have gained traction, recovery in retail segment, fuelled by pent up demand

** Says Q3 not expected to be as pronounced as Q1

** Macquarie Research says co saw strong deposit growth, outpacing loan growth, contrary to trends across peers, system

** Stock rated "buy" on avg; median PT is 1,385 rupees, per data compiled by LSEG

** AXBK last up 1%; gained ~19% in 2025

(Reporting by Meenakshi Maidas in Bengaluru)

((meenakshi.maidas@thomsonreuters.com;))

Jan 5 (Reuters) - Axis Bank Ltd AXBK.NS:

• AXIS BANK - GROSS ADVANCES AS OF DEC 31 UP 14.1% Y/Y

• AXIS BANK - TOTAL DEPOSITS AS OF DEC 31 UP 15.0% Y/Y

Source text: ID:nnAZN4RR7FP

Further company coverage: AXBK.NS

(Reporting by Abhirami G from Bengaluru)

((abhirami.g@thomsonreuters.com;))

Dec 29 (Reuters) - Axis Bank Ltd AXBK.NS:

• AXIS BANK APPROVED OTS OF OUTSTANDING LOAN WITH CO FOR 700 MILLION RUPEES

Source text: ID:nBSEBHWs2

Further company coverage: AXBK.NS

((Reuters.Briefs@thomsonreuters.com;))

MUMBAI, Nov 25 (Reuters) - India's Axis Bank AXBK.NS has accepted bids worth 50 billion rupees ($560.57 million) for infrastructure bonds maturing in 10 years, three bankers said on Tuesday.

The private-sector lender will pay an annual coupon of 7.27%, and had invited coupon and commitment bids from bankers and investors earlier in the day.

The lender did not reply to Reuters' email seeking a comment.

Here is the list of deals reported so far on November 25:

* Size includes base plus greenshoe for some issues

($1 = 89.1950 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Sherry Jacob-Phillips)

((Dharamraj.dhutia@tr.com))

Nov 6 (Reuters) - Axis Bank Ltd AXBK.NS:

• JSW MG MOTOR INDIA PARTNERS WITH AXIS BANK TO PROMOTE EVS

Further company coverage: 600104.SS

((Reuters.Briefs@thomsonreuters.com;;))

Updates for morning trade

By Bharath Rajeswaran and Vivek Kumar M

Oct 16 (Reuters) - India's benchmark shares rose on Thursday, driven by gains in private banks after Axis Bank's second-quarter results showed improved asset quality and better-than-expected net interest margins.

The Nifty 50 .NSEI rose 0.48% to 25,445.60 and the BSE Sensex .BSESN added 0.51% to 83,025.08 as of 10:23 a.m. IST.

The Nifty and Sensex are trading about 3% and 3.5% below their record high levels hit on September 2024.

Twelve of the 16 major sector logged gains. Private banks .NIFPVTBNK climbed 0.8%, led by a 3% jump in Axis Bank AXBK.NS.

Although the private lender posted a larger-than-expected drop in the September-quarter profit, several analysts pointed to improved operating performance and asset quality as positive factors.

The broader small-caps .NIFSMCP100 and mid-caps .NIFMDCP100 gained 0.4% and 0.3%, respectively.

The two highest-weighted stocks - HDFC Bank HDBK.NS and ICICI Bank ICBK.NS - advanced 0.6% each. The third-heaviest stock, Reliance Industries RELI.NS, added 0.3%.

The three companies will report their quarterly results later in the week.

"The demand outlook for the rest of the financial year has brightened after the recent tax cuts, and could spark a virtuous cycle of earnings growth, lifting overall sentiment," said Amnish Aggarwal, director research, institutional equities at PL Capital.

Information technology .NIFTYIT stocks lost 0.4%. Infosys INFY.NS, the country's No. 2 software services provider, declined 0.7% ahead of its quarterly results due post market hours on Thursday.

Among individual stocks, Mangalore Refinery and Petrochemicals MRPL.NS jumped 2.4% after posting quarterly profit from a loss a year ago.

Realty developer Oberoi Realty OEBO.NS jumped 4.1% after reporting a 29% rise in the second-quarter profit.

Packaging solutions provider Huhtamaki India HUHT.NS surged 12% after logging a three-fold increase in quarterly profit.

Westlife Foodworld WEST.NS gained 2% after it maintained a status quo on royalty rate payable to McDonald's, which Investec termed as a positive for its operating profit and free cash flow.

($1 = 87.7440 Indian rupees)

(Reporting by Vivek Kumar M and Bharath Rajeswaran; Editing by Sumana Nandy and Janane Venkatraman)

((VivekKumar.M@thomsonreuters.com;))

Oct 15 (Reuters) - Indian private lender Axis Bank AXBK.NS reported a bigger-than-expected drop in second-quarter profit on Wednesday, as higher provisions for bad loans weighed on earnings.

The country's fourth-largest private lender by market capitalisation said standalone net profit fell 26% to 50.9 billion rupees ($577.65 million) for the three months ended September.

Analysts had expected a 15% drop in profit to 58.63 billion rupees, according to data compiled by LSEG.

($1 = 88.1160 Indian rupees)

(Reporting by Nishit Navin; Editing by Janane Venkatraman)

((Nishit.Navin@thomsonreuters.com;))

** Axis Bank AXBK.NS rises as much as 2.46% to a three-month high of 1,188 rupees apiece; stock last up 2%

** Morgan Stanley reiterates "overweight" and raises price target to 1,450 rupees from 1,325 rupees, implying an upside of 25%

** Morgan Stanley's price target is the second highest among 40 analysts tracking AXBK with an average rating of "buy" and median PT of 1,350 rupees - data compiled by LSEG

** Brokerage says net interest margins, growth and credit cost trends for AXBK will turn positive in 12 months

** Says margins will bottom out in December quarter and credit costs will improve in second half of fiscal 2026 and FY2027

** Says AXBK trading at discounts of 30% and 40% to peers HDFC Bank HDBK.NS and ICICI Bank ICBK.NS, and the valuation gap will narrow gradually

** AXBK up 8.9% YTD compared with 5% rise in Nifty 50 .NSEI

(Reporting by Bharath Rajeswaran in Bengaluru)

((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))

** Private lender Axis Bank AXBK.NS rises 2.1% to 1,168 rupees

** HSBC reiterates "buy" rating, lifts PT to 1,340 rupees from 1,270 rupees

** Earnings at an inflection point, brokerage says

** Two growth levers, lower credit costs and potential improvement in net interest margins, are expected to drive performance in the medium term - HSBC

** Notes, other factors such as stronger deposit growth and closing productivity gaps with larger peers will take longer to materialise

** Still, HSBC sees AXBK's earnings trajectory in FY26–28 as stronger than rivals HDFC Bank HDBK.NS and ICICI Bank ICBK.NS

** Average rating among 40 analysts tracking the stock is "buy"; median PT at 1,340 rupees, LSEG data shows

** AXBK has risen 7.5% in 2025; Nifty 50 .NSEI up 6.6%

(Reporting by Bharath Rajeswaran in Bengaluru)

((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))

** Jefferies removes Reliance Industries RELI.NS and Axis Bank AXBK.NS from its India long-only portfolio

** Adds Ambuja Cements ABUJ.NS, Ixigo LETR.NS and Lemon Tree Hotels with 4 percentage points weight

** RELI and AXBK down 0.6% and 0.2%, respectively, on the day; LETR and LEMO rise 2.4% and 1.2%, respectively

** Jefferies reduces weight of ICICI Bank ICBK.NS, JSW Energy JSWE.NS and REC RECM.NS each by 1 percentage point

** ICBK down 1.25%, JSWE and RECM up 1.7% and 0.6% respectively

** SBI Life Insurance SBIL.NS and Adani Ports APSE.NS have the highest weighting of 6% each in GREED & Fear's India long-only portfolio

(Reporting by Vivek Kumar M and Bharath Rajeswaran)

((VivekKumar.M@thomsonreuters.com;))

Adds details of Deutsche Indian operations in paragraphs 7 and 11-14, Indian banking market in paragraphs 8-10

By Aditya Kalra and Tom Sims

NEW DELHI/FRANKFURT, Sept 1 (Reuters) - Deutsche Bank DBKGn.DE is exploring the sale of its Indian retail banking assets and has invited bids from domestic and foreign lenders in the country, two sources told Reuters, making it the latest foreign bank to consider trimming its bets on India.

The Germany-based bank has pledged to make its retail business more profitable. In March, CEO Christian Sewing said headcount at its retail bank will be cut by almost 2,000 people in 2025, with a "significant" reduction in branch numbers.

In India, Deutsche wants to completely sell its retail banking business, which spans 17 branches, according to the two sources with direct knowledge of the matter, who declined to be named as the discussions are private.

A Deutsche Bank spokesperson said it does not "comment on rumours or market speculation".

The sources said Deutsche had set an August 29 deadline for non-binding bids from several banks for its India retail assets. Details of any potential bids received were not immediately clear.

The valuation the bank is seeking for its India retail business was also not immediately clear.

Deutsche's retail banking revenue in India in the financial year to March 2025 stood at $278.3 million, its disclosures show.

Despite a rising number of wealthy individuals in India, one of the world's fastest-growing economies, foreign banks have struggled to boost revenues due to stiff competition from local players and regulatory limitations.

In 2022, Citi decided to sell its credit card and retail businesses in a more than $1 billion deal amid dwindling market share and as part of a global strategy to overhaul the bank.

Last year, Standard Chartered sold its India personal loan book of $488 million to Indian lender Kotak Mahindra Bank KTKM.NS.

Deutsche Bank has been active in India since the beginning of the 1980s, offering services including treasury, derivatives operations, private wealth management, and corporate and retail banking.

According to its annual report, the bank generated $1 billion in net revenue from India in 2024, roughly on par with Singapore but trailing countries like Germany, the U.S. and Britain. It does not give a breakdown of its retail business.

Employee growth in India, including back office and technology operations, has been on the rise in recent years. Overall India is Deutsche Bank's largest operation outside Germany, employing more than 22,000 staff at the end of last year, according to its latest annual report.

Deutsche tried to sell its Indian retail and wealth management business in 2017, but the plan was later shelved.

(Reporting by Aditya Kalra and Tom Sims; Editing by Jan Harvey)

((Email: aditya.kalra@tr.com; X: @adityakalra;))

MUMBAI, Aug 19 (Reuters) - India's Cube Highways Trust plans to raise 8.2 billion rupees ($93.88 million) for the sale of bonds maturing in three years and six months and 10 years, three bankers said on Tuesday.

It will pay a coupon of 6.9300% and 7.3015%, respectively, on a quarterly basis, and has invited commitment bids for the issue later in the day, they said.

The company did not respond to a Reuters email seeking comment.

Here is the list of deals reported so far on August 19:

*Size includes base plus greenshoe for some issues

($1 = 87.3440 Indian rupees)

(Reporting by Khushi Malhotra and Dharamraj Dhutia)

((Khushi.malhotra@tr.com, dharamraj.dhutia@tr.com))