Download Pdf


to win


‘Open’, our philosophy, continues to be the driving force behind our transformation. It helps us build synergies, distinctiveness and to be customer-centric. As the financial services market continues to evolve, so do our solutions and architectures. What will remain is our conviction in ‘Open’ and its power to deliver customer-centric solutions that help us win together.

Integrated Business Lines - Performance Report 2022–23

Journey to Progress

Unlocking the Potential of Axis

Four years ago, we embarked on a new journey to realise the true potential of Axis. Since then, we have scaled new heights on the back of our One Axis proposition, through which we offer a host of banking and financial services. We also unveiled our GPS strategy which enables us to unlock Growth, Profitability and Sustainability (GPS) as we progress. Finally, with our philosophy of 'Open', we have built and delivered winning propositions for our stakeholders.


To be the preferred financial services provider excelling in customer service delivery through insight, empowered employees, and smart use of technology

Read More

The GPS Strategy

  • Grow deposits materially to fund loan growth
  • Step up growth in Wholesale Bank
  • Continue momentum in Retail Bank
  • Establish leadership in digital and payments
  • Scale-up subsidiaries materially

  • Optimise business mix
  • Focus on cost rationalisation
  • Sweat existing infrastructure
  • Reduce credit cost below long-term average

  • Strengthen technology, operations, credit-risk and process excellence that leads to disciplined execution
  • Embed conservatism in the Bank’s internal policies and practices
  • Build resilient communities
  • Increased focus on ESG governance and positive financing sectors


Deliver world-class customer experience

Leadership in digital and technology

Build India’s most profitable Bharat Banking franchise

Backed by
our 5 values

Strategic Pillars

Customer Centricity

For customers, trust and preferences are based on the quality, responsiveness, and consistency of their experiences. We have empowered our employees to deliver customer delight through human touch aided by technology. Tools like Sparsh and Siddhi enable Axis employees to engage with customers seamlessly in a boundaryless world, thereby building stronger long-term relationships.

Read more

Tech-led Banking

We have a bold vision to underwrite every Indian by the year 2030. With Axis 2.0, our Digital Retail Bank, and with NEO, our best-in-class Digital Corporate Bank, we are building alternate data platforms and capabilities to underwrite a significant section of the lendable population, be it salaried or self-employed. Our robust suite of digital banking solutions will be a powerful engine that propels us towards market leadership.

Read more

Bharat Banking

We continue to build our offline distribution through our expansion in rural and semi-urban markets under Bharat Banking. In addition, we are ramping up our digital capabilities to expand our reach through multiple channels. Our banking solutions are easily accessible to millions of customers at any place and all the time.

Read more

Distinctive Solutions

In today's integrated and co-dependent world, partnerships play an important role in expanding the scope and accelerating business benefits. We have expanded our customer base, improved product propositions, increased geographical reach, enhanced capabilities, and improved our time to market through our partnerships. The partnerships have helped us explore synergies and offer distinctive solutions to our customers thus facilitating a connect and grow approach.

Read more

Empowered Employees

We aspire to be the #1 employer in the Indian financial services space. Our inclusive hiring efforts cover women including homemakers, people belonging to the LGBTQIA+ community as well as persons with disability (PwD). We focus on building a fair and performance-driven culture, where skills get as much importance as education. The seamless integration of Citibank India Consumer Business employees is a testimony to the importance we place on our people.

Read more

One Axis Ecosystem

Under the One Axis umbrella, the group offers a universal banking platform catering to diverse business segments. Our products and services are integrated to provide a wide range of value propositions for our customers across the board. We are committed to strengthening our relationships with customers in the long-term by offering tailored solutions for their financial needs.

Read more
Citibank India Consumer Business Acquisition

Consolidating Our Premium Franchise

With the acquisition of the Citibank India Consumer Business, we have gained access to a large, affluent, and profitable
customer franchise, which aligns well with our premiumisation strategy. The acquisition is a healthy and strategic fit in
line with our GPS strategy, powering us to build one of India's most premium franchises.

Citibank India's Consumer Business Acquisition Aligns with Our
Premiumisation Strategy

Integrated Business Lines

Our retail franchise is focused on deepening our connect with individuals, small businesses and Bharat customers by offering innovative products and transformation initiatives, through our branches and mobile app.


in CASA y-o-y


Growth in Retail
loan book y-o-y


Growth in Burgundy
Private AUM y-o-y

We meet the banking needs of Indian corporates and MSMEs, leveraging our strong value proposition in transaction banking and digital transformation.


Growth in Domestic
Corporate loans y-o-y


Growth in Mid-
corporate book y-o-y


Growth in SME loan
book y-o-y

Under the ‘One Axis’ umbrella, we provide comprehensive products and solutions through our business segments and subsidiaries

₹2,955 crores

Total investments
in subsidiaries

₹6,409 crores

Combined net worth of
domestic subsidiaries

₹1,304 crores

Combined net profit of
domestic subsidiaries
Key Performance Indicators

Performance That Makes us Proud

Gender Diversity (%)

*Includes amount transferred to Unspent CSR accounts to be utilised in ongoing programmes in subsequent years
#Under the Sustainable Livelihoods Program
Above are standalone figures as on/for year ended March 31, 2023 unless otherwise mentioned

Read More
MD & CEO's

Winning Together

Dear Shareholders,

With our ‘dil se open’ approach to serving the needs and aspirations of our customers, we at Axis Bank believe that we will win when our customers and stakeholders win. ‘Open’ has been the driving force behind our GPS journey. We have now created a strong platform with multiplicative forces through our One Axis approach along with the unification of digital platforms, partnerships and transformational projects to win across businesses.

Amitabh Chaudhry

Read more
One Axis in Action

Leading with One Axis

Axis Finance Ltd

Through Axis Finance, our AAA rated diversified NBFC arm, we provide wholesale and retail lending solutions to corporate and retail customers across geographies and businesses.

Performance in fiscal 2023


Growth in Retail loan book y-o-y


Growth in Wholesale loan book y-o-y


Return on Equity


Growth in PAT to ₹475 crores y-o-y


Axis Capital Ltd

Axis Capital is one of India’s leading financial experts, providing customised solutions in investment banking and institutional equities.

Performance in fiscal 2023


Rank in Equity Capital Market (ECM)*


Investment banking market share


Growth in Equity business trading (revenue) in F&O segment

₹142 crores

PAT in fiscal 2023
Axis Asset Management Company Ltd

Axis AMC provides risk managed investment solutions to both retail and institutional investors across listed/unlisted equity, debt and real estate.

Performance in fiscal 2023

12.9 million

Client folios


Growth in PAT to ₹415 crores y-o-y

6 %

AAUM** market share

63 %

of overall AUM consists of Equity & Hybrid funds
Axis Securities Ltd

Axis Securities is a full-service retail brokerage focused on building an advisory model to acquire customers. We have deployed robust technology infrastructure and digital capabilities to deliver holistic solutions to our customers by leveraging One Axis environment.

Performance in fiscal 2023


Growth in customer acquisitions y-o-y


Clients traded through Axis Direct mobile app


Share of mobile trading in total volume

₹203 crores

PAT for fiscal 2023
Freecharge Payment Technologies Private Ltd

Freecharge has launched multiple new-age products targeted towards digitally native customers and merchants. It continues to evolve into a complete digital financial services platform, covering all verticals including savings, lending, investments, payments and insurance.

Performance in fiscal 2023


Growth in overall gross merchandising value


Growth in no. of cards issued


Growth in number of merchant transactions

Invoicemart, India’s largest Trade Receivables Discounting System (TReDS) platform, is set up to resolve the credit challenges faced by MSMEs.

Progress so far (Jul-17 to Mar-23)

~₹55,600 crores


~₹16.3 lakhs

Invoices discounted


Participants on-board
Axis Trustee Services Ltd

Axis Trustee Services is registered with SEBI and has been successfully handling various trusteeship activities, including debenture trustee, security trustee, security agent, lenders’ agent, trustee for securitisation and escrow agent, among others.

Max Life Insurance

Axis Group has a 12.99% share in Max Life Insurance, the fourth largest private insurance company.

Axis Pension Fund Management (PFM) Ltd

Axis PFM commenced its operations effective October 21, 2022, to manage pension funds for investors across all retirement product categories and provide the best retirement solutions to customers.

₹191 crores




Sustainability Pillars


Safeguarding the

Read More
Driving Positive

Enabling an Inclusive and Sustainable Transition

Read More
Leveraging Digital

Revolutionising Customer Experience Through Tech

Read More
Building Resilient

Sustainable Communities. Promising Future.

Read More
Committing to
Operational Excellence

Our Commitment to a Greener Tomorrow

Read More

Download Centre

Management's Discussion and Analysis

Statutory Reports

Financial Statements

Download Full Report