Axis Bank has, at present, five overseas branches at Singapore, Hong Kong and Dubai (at the DIFC), with representative offices in Shanghai and Dubai. They focus on corporate lending, trade finance, syndication, investment banking, risk management and liability businesses. International branches contribute approximately 10% of its total credit revenue.
SK Chakrabarti, executive director of retail banking, SME and agriculture at Axis Bank, said: “We will be growing cautiously in the overseas market. We are looking at geographies like the UK, West Asia and Sri Lanka, subject to regulatory approval.”
The India-based private bank is also planning to expand its presence in newer segments like auto loans and increase the share of auto loan in its retail loan portfolio from 17% to 25%.
Mr Chakrabarti added: “We have become a bit heavy weight on mortgage loans. We will like to slightly shift the bias to auto loans and take the share up to about 25% over the next one year. Our auto loan portfolio is highly skewed towards four-wheeler and new vehicles. We will continue to maintain the same mix in the portfolio and will look at clocking a month-on-month growth of about INR2-2.5bn.”
