Azealia Banks' formal apology over Zayn Malik Twitter rant

Azealia Banks has apologised after being suspended from Twitter and dropped from a festival due to her actions. Photo / Supplied

Azealia Banks has issued a public apology after posting a series of racist and homophobic tweets towards former One Direction member Zayn Malik.

As a result of the tirade, Banks was suspended from Twitter and dropped from Rinse FM's Born & Bred festival.

After the incident, she tweeted that she wasn't sorry for saying what she said, but she was "sorry for the way I made people feel".

But now, she's taken to Instagram to make a proper apology, "now that the immediacy of the infamous incident has worn off".

"I want to extend my sincerest apologies to the world," she wrote.

"Employing racial/sexual slurs/stereotypes in attempts to make fun of or degrade another person or group is absolutely unacceptable and is not fair or fun for anyone.

"Allowing my anger to get the best of me, I've managed to insult millions of people without reason. And for that I give my deepest apologies."