Axis Bank will take over a bank if the fit and price is right: Shikha Sharma

You once said taking over Axis Bank was like taking over a flying aircraft, you are suddenly asked to sit on the pilot's seat mid-air. How much time did you have to put the bank on autopilot?
When I joined, Axis Bank was already a well-established bank. However, my transition into the bank was really smooth and much easier than I had imagined it would be. Axis Bank has a very strong and warm culture focused on delivering customer value, and my aim has been to preserve what had been put in place and build on it. We have a strong management which has been instrumental in taking the bank to where it is currently positioned. The open, honest and transparent culture of the bank made my task that much easier. I believe it is important to build and sustain a customer-centric franchise and deliver profitable growth. Our strategy at Axis is to build on our strong customer franchise by consistently providing long-term financial solutions relevant to different stages in the life cycle of our customers.

The government along with the state-owned insurance companies holds over 27% in the bank. Does the government have a say in the bank?
The bank is Board managed. It is a private sector bank, the government has representatives on the board commensurate with the shareholding in the bank. But the Board is independent.

The government through SUUTI holds about 11.59% in the bank. Will the government sell the remaining stake during this fiscal?
Last year, the government sold about 10%, and it has over 11% stake in the bank. We don't know if the government is planning to sell stake this financial year. We have not heard from them as yet.

Foreign shareholding in the bank is 50.62%, but the permissible limit is much higher at 74%. Is Axis Bank planning to raise money by increasing the FII holding in the bank?
Foreign investors believe in the India growth story. Axis Bank is a long-term good story. They believe the government is undertaking the structural changes doing the right things to revive the economy. But we are well-capitalised, so we are not planning to raise further capital while selling stake.

Will Axis Bank be looking at inorganic growth, now that valuations of a number of banks are more realistic?
We have been getting presentations. Whenever we think that the fit is right, we will take it over if the price is right. But we do not have any gaps in our geographical spread; we are well spread out all across the country.

What will be the thrust of the bank during the financial year?
The corporate book of the bank was at 45% and the retail was at 40%. We will seize whatever opportunities that may rise both in corporate and retail to grow the book. Retail book, maybe, we will grow it to 45%. Last year refinance opportunities helped the corporate book by 18% and retail also had a robust growth. We hope to do better this year in expectation that growth will revive in the economy. We participated in specific refinancing opportunities, not necessarily in the infrastructure side. We are happy with the results last year and we are happy to do more of the same this year.

Employees at Axis Bank say that you are a consensus player and take all the employees with you rather, and let the management grow with you and the bank. Can you please elaborate on your management style?
I believe in a participative management style and am happy to admit that I do not always have all the answers. I try and encourage meaningful dialogues within the organisation by creating various discussion forums. I host an annual management strategy meet where the top 40 leaders of the bank congregate to continuously elevate ourselves by evaluating performance and short-term strategies, equipping ourselves to sustain competitive advantages and build an agile organisation. We also energize ourselves to take forward the `One Axis' agenda and be a step ahead of innovations / disruptions in banking. I also conduct regular skip level meetings to gauge the pulse of the organisation and engage with various levels of top talent.

How do you relax and unwind? I know you are a movie buff.
I love watching movies, particularly 'happy' ones. I am also currently focused on trying to maintain a fitness regimen.

You also read books.. Which one did you read recently?
"Not just an accountant" by Vinod Rai. I am a fan of Amish Tripathi and am currently reading 'Scion of Ikshvaku'