Large banks with strong balance sheet to continue to grow faster than peers: Axis Bank MD & CEO

The strong large banks on the balance sheet will continue to grow faster than their competitors in the pandemic-affected environment, and continued fiscal and financial support by the government and the RBI will support the recovery through the second half of the fiscal year, the Axis Bank executive said. Amitabha Joe Dolly, Managing Director and CEO of Axis Bank, said the impact of the second wave of COVID-19 continues.
“I … hope that government and (banking) regulators’ accelerated vaccines and continued fiscal and financial measures will help the economy recover from this pandemic by the second half of 202122,” Chaudhry said in the bank’s annual report. Axis Bank further strengthens its core and building blocks are firmly placed at the granularity built across the entire business, improving operational performance, strong capital balance sheet position, he added, to counter the unexpected risks posed by the second wave of COVID-19. . . He said the medium-term growth drivers are in place, against the backdrop of a number of initiatives taken by governments to support manufacturing and small-scale industries and the recent changes in the delivery of global manufacturing supply chain dynamics. In an annual report, Chaudhry said in a message to shareholders, “In such an environment, sound performance is a strong balance sheet and capital position, large banks with excellent risk management and operational capabilities are the entire sector. It grows much faster. “
In 202021 the bank’s focus focused on building fragmentations across the business and focused on doing what helps to achieve strong growth in centralized sectors. Banks’ CASA (Ordinary Deposit Account) deposits increased by 20% and the percentage of CASA increased by 3.72 percentage points to 45% for all deposits. Retail savings accounts increased 19% and recurring accounts increased 26%.

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