Keeping employees happy: How this novel formula helped Axis Bank scale up and grow

Axis bank, the country’s third-largest private sector bank in terms of total assets, has been making significant strides not just in financial services but also in creating an inclusive and employee-friendly work environment. One of its key landmarks has been the strategic and well-executed acquisition of Citi’s consumer banking business in India. The Rs 11,603-crore buy that Axis Bank completed on March 1, 2023, meant the integration of Citi’s India team of 3,200 people with the lender, and dealing with the cultural differences that typically exist between a domestic entity and a foreign one.