Axis Bank on Tuesday unveiled its aggressive growth and transformation strategy for Maharashtra, emphasizing a unified phygital approach that combines expanding physical reach with advanced digital capabilities. Speaking at a press meet in Mumbai, senior leadership detailed how the bank's evolving branch network is supporting the state's economic momentum.
Massive Network Presence in Maharashtra
Axis Bank boasts a robust domestic network of 6,275 branches, with Maharashtra serving as a pivotal growth engine. The state is supported by a dense localized network of 640 branches and 2,021 ATMs and cash deposit machines. Mumbai alone commands 262 branches, underscoring the city's importance as a financial hub.
Shift to Advisory-Led Banking
This expansion represents a fundamental shift in how physical banking spaces operate. With nearly 74% of routine servicing requests handled digitally nationwide, branches are transitioning from traditional transaction processing to focus on wealth management, corporate banking, and personalized advisory services.
Sanjeev Moghe, Group Head - Branch Banking, South, Axis Bank, said, "Banking is witnessing a structural shift. While transactions have become increasingly digital, financial decisions remain deeply personal. Branches are therefore evolving into advisory-led relationship hubs where customers seek guidance on wealth creation, investments, credit and business growth. Maharashtra, particularly Mumbai, remains one of our most important markets, and we continue to invest in both physical presence and digital capabilities to deliver a seamless phygital banking experience."
Empowering MSMEs and Commercial Banking
The phygital philosophy heavily empowers the region's commercial and MSME ecosystems, enabling high-touch local advisory services alongside rapid digital-first lending solutions. Vijay Shetty, Group Head, Commercial Banking Group, Axis Bank, said, "Maharashtra has long been one of India's economic powerhouses, but what is particularly striking today is the breadth of growth across sectors and enterprise sizes. From established manufacturing clusters to new-age businesses and exporters, companies are increasingly seeking partners who can help them improve efficiency and unlock new growth opportunities. Banking today is helping businesses do more than transact; it is helping them grow, scale, and compete. Maharashtra is leading this next phase of enterprise growth."
Future of MSME Growth
Prashanth TS, Group Head - Mid-Corporate & Medium Enterprises Group, Axis Bank, said, "The next decade of MSME growth will be shaped by formalisation, digital adoption and greater access to institutional capital. Entrepreneurs today are building more ambitious businesses, adopting technology earlier, and integrating into national and global value chains. This requires a different banking model, one that combines data-driven decision-making, faster credit access, and relationship-led guidance. Maharashtra's entrepreneurial ecosystem reflects this evolution, and we believe it will continue to play a defining role in India's growth story."
