Axis Bank to increase unsecured retail portfolio

Leading private bank Axis Bank would gradually increase the proportion of unsecured retail portfolio by increasing the credit cards business, an official said.
"We want to scale up the retail unsecured portfolio in a graded manner over time", Rajiv Anand, Group Executive and Head (Retail Banking) of Axis Bank said.
Anand said that the bank was quite comfortable with the present underlying portfolio. "With economy showing signs of picking up, we are willing take more risks by increasing the unsecured retail component.
"Presently, the proportion of unsecured retail portfolio was 20 per cent", Anand told reporters here today.
He said that bank would do so by increasing the credit

cards business particularly.

"Presently, we are issuing credit cards to our customers only. We are looking at the open market also", he said.
The bank was also open to inorganic growth provided the price was right.
With 2500 branches at present, pan-India, the bank would set up another 250 more during the current financial year, Anand said.