Axis Bank aims to recruit

At a time when layoffs and salary cuts are becoming integral components of corporate strategy for cost control, Axis Bank is on a recruitment drive.

In the eastern region alone, the bank has set a target of recruiting about 1,200 additional workers by the end of this fiscal, and another 1,200 by March 2010.

The bank has already recruited 1,000 people in the present fiscal, mainly to cater to its newly opened branches and customer care. Axis Bank is planning to open nearly 37 new branches in the coming months, out of which about 20 will be opened by March-end, and the rest by the first quarter of the next fiscal. The total business of the bank in the eastern region at present is close to Rs 20,000 crore, with a deposit base of roughly Rs 13,000 crore.

 

While the bank hopes to maintain a healthy growth in advances, in case of deposits it might witness a relative slowdown, said S K Mitra, president of Axis Bank in the eastern region. The bank’s advances grew at 45 per cent in the region, out of which the growth in in the small and medium enterprises (SME) segment was 45 per cent while 52 per cent growth was reported in agriculture lending.

In case of retail advances, Mitra admitted, there has been a temporary slowdown in growth. For current account and saving account (CASA) also the bank has not seen desired rowth levels, owing to reasons like transfer of funds to fixed deposits.

Axis Bank opened its 150th branch in Kolkata on Monday.

With the opening of this branch, Axis Bank now has a network of 737 branches, 20 extension counters and 3157 ATMs across the country.