Indian private sector lender Axis Bank is reportedly planning to step up offshore investment banking as part of its ambition to market bonds globally.
The bank is also planning to tie up with several international players on the distribution side, reported The Economic Times.
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An Axis Bank senior executive told the financial daily: "Nothing has matured yet but we have to go step by step. We are talking to people across the board. Initially, we are emphasising on investor relationships (globally)."
The lender is in the process of appointing a consultant to obtain an overview of different overseas debt capital markets.
According to the report, Axis Bank will focus on Indian corporate bond issuers, who are willing to raise funds offshore for their overseas businesses.
"We have our offices in Singapore, Dubai, London and Dubai. We will take advantage of our business in these financial centres. We have started establishing relationships with FIIs over there," the publication quoted a bank executive as saying.
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