Money & Banking

Axis Bank to step up focus on credit cards, digitisation

Our Bureau Hyderabad | Updated on August 08, 2018 Published on August 08, 2018

 

 

Axis Bank will significantly focus on credit cards and digital payment methods, according to Rajiv Anand, Executive Director - Retail Banking.

“We are the fourth-largest player in the credit card segment with 4.3 million cards and will continue to focus more,” he told news persons here on Wednesday.

In the retail segment, the highest growth is now seen in credit cards and personal loans, he added.

Axis Bank has also witnessed considerable growth in the mobile banking segment. Overall mobile banking spend at the bank touched ₹71,444 crore in the first quarter of the current fiscal, registering a 90 per cent growth year-on-year.

“Axis Bank continues to invest in newer cashless and digital payment methods,” he added. About 70 per cent of the bank’s transactions are now being routed through digital channels.

The branch expansion, however, will continue as Axis Bank still has scope for branch expansion. “Digitisation is on, but it is still slower in semi-urban and rural areas. We will be opening 350 to 400 branches this year,” said Anand.

Published on August 08, 2018
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