Axis Bank Sees Credit Growth Surging on Data Centre, Gold Loan Demand

Axis Bank, India's third-largest private bank by assets, is anticipating credit growth to expand by 300 basis points faster than the industry average in the current fiscal year. According to its chief executive Amitabh Chaudhry, demand for credit is coming from various sectors including data centres and small businesses as well as retail borrowers looking to monetise their gold.

Credit growth in India's $3.36 trillion banking sector accelerated to 18.3% year-on-year in June 2026, the latest available data, from 9.3% a year earlier. This growth is being driven by large corporates, non-bank lenders, and gold loans.

Chaudhry stated that credit is growing at more than 15% even excluding these segments, suggesting broad-based demand. He also mentioned that the central bank window to draw subsidised dollar deposits will further boost credit growth in the banking sector.