On Wednesday, Axis Bank will acquire the number of equity shares, 8,921 of the face value of Rs 10 each, which represents 5.09 per cent shares, of Equentia SCF Technologies (CredAble) for total cash consideration of Rs 55 crore. Across the corporate ecosystem of vendors, distributors, dealers, and retailers are working capital financing, enabling CredAble. The turnover of the company was recorded in FY2022 at Rs 8.35 crore. The Fintech technology to financial institutions as a co-branding solution. Till 30 September 2022, the bank transaction is expected to be complete.

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This bank is India’s third largest bank in the banking sector. In June of the last year, the bank had a network of domestic branches of 4,759 and 2,702 centres extended, compared with the year 2021, domestic branches of 4,600 and 2,628 centres are extended.

The Axis Bank’s net profit surged 91 per cent to Rs 4,125.26 crore on 12.2 per cent in Q1FY23, which increased in total income to Rs 21,727.61 crore by Q1 FY22. On Bombay Stock Exchange (BSE), the scrip shed o.12 per cent trade at Rs 729.35.