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Axis Bank to open more branches

India's Axis Bank Ltd. plans to expand its branch network in the coming years to better position itself against some of the country's biggest banks, the Financial Express reported March 26, citing CEO Amitabh Chaudhry.

The bank plans to open 400 to 500 branches in the next three to four years. Chaudhry said the bank will slow down expansion once it reaches 5,000 to 5,500 branches. It recently opened its 4,000th branch in Pune, India.

The number will allow it to catch up with India's two biggest private lenders ICICI Bank Ltd. and HDFC Bank Ltd. in terms of branch network, the report said.