Home Loan is driving Axis Bank’s retail lending business contributing 53% to overall lending book

MUMBAI, India - Dec. 5, 2014 - PRLog -- -        Tamil Nadu contributed a significant 12% towards the bank's overall Retail Lending Business

-        Strong network presence with 189 Branches, 1192 ATMs, 14 Retail Lending Centres spread across 35 districts in the State

-        Fifth largest credit card issuer in the country; registered 84% YoY growth in Credit Card FY14 spends, highest in the industry

Chennai, December 3, 2014: Axis Bank, India’s third largest private sector bank, sees a strong growth opportunity in Retail Lending sector driven by housing loan. Home Loans contributed 53% to its overall lending book; bank’s loan book size as on 30th Sep 14 was Rs. 90,277 Cr. The bank has registered a 27% growth in retail lending including credit cards business in H1FY15; In FY 14 the Bank registered 84% YoY growth in Credit Card Spends, which is highest in the industry. Axis Bank sees tremendous potential in Tier 2 / Tier 3 centres and smaller towns which are contributing 30% of new business for the bank.

The bank has seen a significant rise in business across product suite in Tamil Nadu with 20% of its total Agri Loan contribution coming from the State. To increase its retail lending initiatives in the State, the bank has opened 4 additional Lending Centres at Vellore, Thoraipakkam, Erode and Poonamallee. The bank is also focussing on Auto Loan Business in the state.

For its Micro Lending business the bank has tied-up with 2 Business Correspondents (BCs) and has a client base of over 1 lakh as on October ’14. To offer better service for new loan customers, the bank has recently introduced an instant loan approval system on the internet.

Mr. Jairam Sridharan, President – Retail Lending & Payments, Axis Bank said, “Axis Bank understands its customer’s needs and is proud to be a front-runner in serving more than 14 million customers from our branches and ATM network. Our Retail Banking business has demonstrated strong and steady growth over the last few years and we want to be a stable, long term player in Payments, Deposits & Retail Lending.”

Axis Bank offers a complete suite of retail products, both liabilities and retail assets in Tamil Nadu. The bank has a strong presence in Tamil Nadu with a network of 189 branches, 14 Retail Lending Centers and 1192 ATMs spread across 35 districts. Over 46% of the branches are located in Semi Urban and Rural areas. Under its philanthropic arm ‘Axis Bank Foundation’ the bank is running 2 Livelihood & 1 Educational programme covering 9 districts and targeting 32,664 beneficiaries in the State.

About Axis Bank

Axis Bank is the third largest private sector bank in India. Axis Bank offers the entire spectrum of services to customer segments covering Large and Mid-Corporates, SME, Agriculture and Retail Businesses.

With its 2,505 domestic branches & extension counters and 13,146 ATMs across the country, as on 30th September 2014, the network of Axis Bank spreads across 1,686 cities and towns, enabling the Bank to reach out to a large cross-section of customers with an array of products and services. The Bank also has overseas offices in UK, Singapore, Hong Kong, Shanghai, Colombo, Dubai and Abu Dhabi.