“We would like to grow our retail lending to around 30% of our advances in
three years,” said Jairam Sridharan, senior vice president and head consumer lending and payments, Axis Bank.

Retail advances by the private sector lender stood at Rs 29,328 crore as on September 30 and is around 21% of total advances. Total advances stood at Rs 140,089 crore.

Lending to large and mid-corporates makes up 55% of Axis Bank’s total lending. Small and Medium Enterprises (SMEs) have 15% and agriculture 10%.

Home loans occupy a major share in its total retail lending book with a share of 76%, auto loans has 13%, personal loan 4% and cards 2%.

Axis Bank is looking to small cities to drive its retail focus.

“A large number of people in these areas still dreams of their own house and vehicle,” said Sridharan.

“Similarly penetration of debit and credit cards is very low in these... there is enough room for growth,” he said.