Archive · 18 Jul 2026
Axis Bank Sees Growth in FCNR Deposits
Axis Bank is excited about the FCNR-B deposit scheme, which lets non-resident Indians (NRIs) deposit foreign money in Indian banks.
The bank thinks it can get a bigger share of these deposits than its usual market share.
NRIs are interested because of good interest rates.
Axis Bank wants to use these deposits to grow and pay off some debts.
The bank's money-making ability (net interest margin) has been low but is expected to improve.
The bank's total deposits and loans have grown a lot, especially in areas like energy and real estate.
The FCNR-B window is open until September 30, 2024.
Axis Bank expects its share in FCNR deposits to exceed its organic market share.
NRIs are showing strong interest in FCNR deposits due to favorable terms.
The bank plans to use FCNR deposits to grow and pay off liabilities.
Axis Bank's net interest margin has declined but is expected to improve.
Total deposits and advances have grown significantly, led by wholesale loans.
- Who
- Axis Bank
- What
- Growth in FCNR deposits and market share expectations
- When
- June 2024
- Where
- Mumbai, India
- Why
- To improve liquidity and net interest margins
Optimistic View
Cautious View
Market Share Expectations
Optimistic View
Axis Bank expects its share in FCNR deposits to exceed its organic market share, indicating strong growth potential.
Cautious View
The bank has not yet provided concrete data on current FCNR deposit flows, suggesting uncertainty.
- Deposit Market Share
- 5.1%
- Total Sector Advances Share
- 5.7%
- Net Interest Margin (Q2)
- 3.46%
- Total Deposits (June 2024)
- ₹13.7 trillion
- Total Advances (June 2024)
- ₹12.6 trillion
- FCNR-B Window Deadline
- 30 September 2024