Business Segment

Retail Banking

With a team that embodies consumer obsession and breakthrough technologies at the fore, we take pride in meeting everyday personal banking needs with care and precision.

Performance Review

Achieving Granularity in Customer Acquisition

  • Our consumer acquisition strengthened with the implementation of our key transformation projects, adding a total of 8.6 million accounts during the year, up 29% y-o-y
  • CASA deposits also grew at 16% y-o-y and the CASA ratio at the end of fiscal 2022 stands at 45%
  • There has also been significant growth of Burgundy consumers, at a compounded annual rate of 20% over last 5 years, with over 1.87 lakh Burgundy consumers spread across India and other countries

8.6 million

New liability relationships added in fiscal 2022

Strengthening our Focus on Premiumisation

  • We have witnessed a growth of 37% y-o-y in average balances for Burgundy and Burgundy Private accounts
  • Our consolidated Wealth Management business has gradually become the fourth largest in India, with the Burgundy AUM at `2.6 trillion, growing at a compounded rate in excess of 27% over the last 5 years
  • There has also been significant growth of Burgundy consumers, at a compounded annual rate of 20% over last 5 years, with over 1.87 lakh Burgundy consumers spread across India and other countries


Year-over-year growth in Wealth Management AUM in fiscal 2022

Loan Growth

  • Domestic retail loans grew 21% in fiscal 2022 to `3,97,568 crores , driven by our secured product offerings like home loans, loan against property and small business banking
  • With a growth in personal loan disbursements to the salaried segment, disbursements to unsecured products followed suite. Our unsecured retail loan book will continue to grow over the next few years owing to our strong partnerships and KTB consumer base, of over 140 million consumers
  • Retail book has a healthy portfolio with GNPA at 1.43% and NNPA at 0.57%


Share of secured loans in Retail book

Breakup of Retail Book as on
31 March, 2022 (%)
Performance Highlights

28 million

Savings Account (SA) consumers

`2.6 trillion

AUM in Wealth Management


Largest issuer of Credit Cards


Largest player in Merchant Acquiring


y-o-y Growth in SA deposits


Sourcing from ETB consumers


CASA ratio


y-o-y Growth in advances


Share in total fee income ^

^ share in Bank’s total fee income

Above are standalone figures as on/for year ended 31 March, 2022 unless otherwise mentioned


  • We added 2.67 million cards during the year, up 170% y-o-y on the back of strategic partnerships and the growth of new liability accounts. About 28% of credit cards were acquired through ‘Known to Bank’ partnerships, up from 21% in fiscal 2021
  • The retail credit card spends were up 60% y-o-y, faster than overall industry spends, trending well above pre-COVID levels
  • Since its launch in July 2019, Flipkart Axis Bank Credit Cards have become one of the fastest growing co-branded portfolios under our belt
  • We are now the second-largest merchant-acquiring bank in the country with an installed capacity of 10 lakh+ terminals, acquiring an incremental market share of 30% in fiscal 2022 . We are the first bank to lead with a feature-rich, pocket version Android terminal for retailers

2.2 million

Flipkart Axis Bank Credit Cards in force


Market share in POS terminals

Strengthening our Market Position Through the Proposed Acquisition* of Citibank's Consumer Businesses in India

In March 2022, we signed definitive agreements for the proposed acquisition of Citi's consumer businesses in India, for a purchase consideration of upto ₹12,325 crores, subject to regulatory approvals. The acquisition comprises of Citi’s credit cards, unsecured and secured lending portfolios, wealth management, private banking and retail deposit businesses.

What We Acquired (as of June 2021)

  • Quality portfolio of ~2.5 million cards, being among the highest monthly spends per card across industry and a book size of around ₹ 8,900 crores
  • Large wealth AUM base of `1,109 billion
  • Granular consumer business with CASA ratio of 81%
  • Consumer lending portfolio of ₹18,500 crores consisting of mortgages, asset backed finance, small business lending and personal loans
  • Large, high calibre talent pool
  • World class CitiPhone Banking services

*proposed acquisition is subject to regulatory approvals