Wednesday, 22 February 2017

Private Banks May Have Shown Interest In Axis Bank

Axis Bank was in the news on February 21 when CNBC-TV18 reported that Kotak Mahindra Bank had informally approached the government for a merger. 

Following this, other private players also threw their hat in the ring and had asked the government for a competitive bidding field. 

Based on the reactions, the stock soared 5 percent in late trading hours on Tuesday. Morgan Stanley feels that the lender could have seen interest from private banks based on its retail deposit franchise, but concerns on its profitability remain as well.

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