Amitabh Chaudhry is fond of describing Axis Bank as a crouching tiger — aggressive and hungry for business. When he took charge of the bank in January 2019, Axis Bank was anything but that as it was grappling with asset quality concerns, cultural silos, and a digital lag that threatened its competitive edge.
Six years later, the transformation is not just visible, it’s resounding. Consider the numbers: India’s third-largest private bank’s return on assets jumped from 0.2% in FY20 to 1.74% in FY25, while returns on equity rose from 2.34% to 16.52% in the same period. Net profit reported a 33% CAGR growth at Rs 26,373 crore in FY25, driven by a 16.5% increase in net interest income and 14% growth in total deposits between FY20 and FY25.
But numbers only tell part of the story. What truly distinguishes Chaudhry, an engineer from BITS, Pilani, with management spurs from IIM Ahmedabad, is his focus on the human side of banking. “Leadership is not about being the smartest in the room,” says Chaudhry. “It’s about creating more leaders who perhaps would be smarter than you.”
Culture and inclusivity at the core
The “Dil Se Open” credo, launched in 2019 and now a cultural cornerstone, personifies empathy, openness and inclusivity. In its campaign titled “Har Raah Dil Se Open”, Axis Bank showcases how its 100,000+ employees go beyond transactions to create meaningful connections. From senior citizens seeking simplified services to entrepreneurs needing innovative support, the bank’s offerings are tailored to resonate with individual aspirations.
This spirit is captured in the launch of a UPI solution designed for senior citizens. Recognising the digital divide, Chaudhry’s team designed an interface with larger fonts, voice prompts, and simplified navigation. “Technology must be inclusive. It’s not just about innovation, it’s about democratising access,” adds Chaudhry.
A similar idea has been extended to the bank’s artificial intelligence-(AI) driven platforms like Axis Digital Intelligence (ADI), which enhances employee productivity and customer engagement. ADI uses machine learning to analyse customer behaviour, enabling hyper-personalised offerings across retail and corporate segments. Internally, initiatives like Siddhi and Thrive foster a people-first culture, while GIG-A taps into gig talent to drive innovation.
“We are building for the future with a relentless focus on what sets us apart. With digital banking, Bharat banking, and customer obsession as our core pillars, we are creating a franchise that’s distinctive by design and built to lead,” adds Chaudhry, who believes that “transitioning from newer industries to traditional sectors has taught me that technology, process efficiency and customer experience are universal drivers of competitiveness”.
His experience, spanning from Infosys BPO to HDFC Life, has equipped him with a unique lens to challenge conventions and introduce innovative, out-of-the-box solutions. At Axis Bank, this translated into bold moves like the acquisition of Citibank’s India consumer business. Completed ahead of schedule, the integration saw digital engagement surpass pre-merger levels. In a letter to Citi customers, Chaudhry wrote, “All 93,000 of us at Axis Bank are committed to ensuring a seamless transition, with a promise that your needs will always be at the heart of everything we do”.
Strategy built on synergy and sustainability
At Axis Bank, he believes true competitive advantage is not just built through scale, but through synergy. By integrating capabilities across businesses, platforms, and partnerships into ‘One Axis’, he is creating powerful multiplicative forces.
This isn’t just corporate speak; it’s a reflection of his stakeholder philosophy. Customers are served with cutting-edge solutions and superior service; shareholders benefit from disciplined growth and transparent communication; employees are nurtured through skill development and engagement; and communities are supported through impactful CSR and ESG initiatives.
Chaudhry’s ESG vision is equally compelling. Axis Bank issued India’s first $500 million blue loan from IFC, supporting marine and water sustainability. The bank’s Bharat Banking initiative now spans over 2,700 rural branches, supported by 28,000+ village-level entrepreneurs. High RAROC businesses like SME and mid-corporate banking constitute nearly a quarter of the loan book, underscoring his strategic pivot toward resilient growth.
His leadership during the Covid-19 pandemic further cemented his reputation. Amid uncertainty, Chaudhry doubled down on digital acceleration, tightened credit underwriting, and fostered collaboration across the organisation. “Agility in decision-making is essential when things don’t go as planned,” he notes. His conviction, adaptability and capability-building approach turned crisis into opportunity. “I believe that leaders must remain close to execution, not just strategy,” Chaudhry says. “And that purpose is the key to transforming challenges into opportunities.”
The Axis CEO is also striving to deliver results more consistently. He believes the lender should be a ‘no surprise’ bank for all stakeholders, the idea being to deliver predictable, long-term results, giving confidence to regulators, investors, and other stakeholders. Helping in the process is his GPS strategy of growth, profitability and sustainability that has guided the bank’s evolution from a transactional lender to a differentiated financial institution.
Chaudhry is somewhere redefining what modern banking means, where technology meets empathy, and strategy meets soul. In a sector often driven by metrics and margins, Chaudhry has brought back the heart. Axis Bank is not just future-ready, it’s future-defining. And in doing so, Chaudhry is not just building an all-weather bank, he is building a bank that feels like home.