Axis Bank opened about 400 branches despite 3% staff drop
Axis Bank wants to grow bigger without adding a bunch of new employees. Instead, it is leaning on artificial intelligence (AI), tech upgrades, and shifting current staff around.
CEO Amitabh Chaudhry says AI will help it get more done and open new branches while keeping the team size steady.
In fact, it opened about 400 branches in fiscal 2026 even as its employee count dropped by 3%, finishing March with just over 101,000 staff.
Amitabh Chaudhry denies mass layoffs
The bank has become more efficient, improving its cost-to-assets ratio during the last fiscal year by 18 basis points.
Chaudhry reassures there is no plan for mass layoffs; only underperformers might be let go.
The focus is on using AI to create fresh roles that need tech skills, so employees will have chances to learn and grow.
This approach matches what global banks like JPMorgan Chase and Citigroup are doing: using AI to work smarter, not necessarily bigger.