Axis Bank is planning to incline its retail loans and contribute about 25 Percent of the total loan portfolio within next two years. To realise this ambition, the third largest private bank in India will roll out 200-250 branches and around 1,000 ATMs every year.
“We want to grow our retail assets and we hope to tap the potential in smaller town and cities. We are expecting to increase the share of retail loans to 25 Percent of our total advances in about two years,” said Axis Bank executive director (retail banking, SME & agri) SK Chakrabarti.
In 2009-10, the bank’s retail advances grew to Rs 20,823 Cr from the year-ago amount of Rs 16,052 Cr, a growth of 30 Percent year-on-year. At present, total advances of the bank stands at Rs 1,04,343 Cr, which grew by 28 Percent y-o-y. While mortgaged home loans form 70 Percent of the bank’s retail loans, the rest comes from credit cards, auto (in 4-wheeler segment) and personal loan.
To strengthen retail banking, the bank has resorted to some measures to mobilise its business operations further. “We have now divided business responsibilities in 26 circles instead of four zones as it was earlier. Under one circle, there will be 35-40 branches, which will be easy to handle for a manager,” revealed Chakrabarti.
“We are looking at the customer as an individual having requirement in all the spaces. Our branch expansion will help us acquire more customers and thereby help multiply our retail banking business,” he added.
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