The lender’s plan is to handle rising business volumes through technology rather than keep adding employees at its earlier pace. Chaudhry said the approach would not involve dismissals, apart from cases involving poor performance. Existing employees could move into different assignments as the bank’s requirements change.

Its fiscal 2024 figures already show expansion alongside a smaller workforce. Axis added roughly 400 branches nationwide, yet employee numbers declined 3% from the preceding year. The bank reported a workforce exceeding 101,000 in March. These figures point to a changing relationship between branch expansion and staffing needs.

Efficiency is also a financial priority for India’s third-largest private-sector lender. Axis recorded an improvement of 18 basis points in its cost-to-assets measure last year. It has also completed the integration of the Citi consumer banking operation bought in 2023, while seeking greater technology-led efficiency against competitors HDFC Bank and ICICI Bank.

Chaudhry expects technology to create roles unlike conventional banking jobs, requiring employees to learn unfamiliar platforms and adapt their skills. Separately, he said foreign-currency deposits held by Indian banks could be deployed into lending over the coming two or three quarters as credit demand strengthens.