New Delhi, Mar 31 (PTI) Private sector Axis Bank on Wednesday said it is selling its UK subsidiary.

The bank has entered into a share purchase agreement, on March 31, for sale of 100 per cent stake in its subsidiary, Axis Bank UK Ltd, to OpenPayd Holdings Ltd, according to a regulatory filing. 

This transaction is subject to approval by the UK financial regulator, the Prudential Regulation Authority (PRA), it said.

Total Income of Axis Bank UK Ltd for 2019-20 was Rs 206 crore.

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