Axis Bank’s revenue rose 91% to Rs 412.5 billion on solid net investment growth.

Bank’s net interest margin (NIM) was 3.6 percent from April to June, down from 3.46 percent in the same period last year and 3.49 percent in the previous quarter.

From April to June, Axis Bank posted an organic net profit of Rs 4,125.2 billion, up 91% from the previous year. This is explained by strong growth in net income (NII) and margin improvement. Profit on loans after tax (PAT) remained flat at 0.2% quarter-on-quarter from Rs 4,117.77 billion in the same period last year.

During the quarter under review, Axis Bank’s NII (the difference between profit and interest) rose 21 percent year-on-year to Rs 938.4 billion, up 6 percent.

Bank’s net interest margin (NIM) was 3.6 percent from April to June, down from 3.46 percent in the same period last year and 3.49 percent in the previous quarter.

If NIM is at 3.4%, we would say it will cross 40 basis points (bps) in Q10-12. It is 2/40. This is a NIM approach to what we talked about a quarter ago, said Axis Bank CFO Puneet Sharma at the closing briefing.

It is important to check the net interest rate based on risk-weighted assets. You can take more risks and offer higher NIM. The current net return on risk-adjusted assets is 7.26%, so this is healthy growth for NIM. said, Sharma.

The bank’s operating profit from April to June was 6.54 billion rubles, including food and banking products. This is a 17% increase compared to last year and a 5% increase compared to the previous quarter.

However, Axis Bank posted a loss of Rs 667 million in the previous quarter compared to an operating profit of Rs 556 million in the first quarter of the previous fiscal.

Stocks were in the red in the previous quarter as bond yields rose due to an interest rate hike by the Reserve Bank of India (RBI).

Axis Bank’s first-quarter net profit more than doubled to Rs 4,125 crore. INI up to 21%

Axis Bank, one of the largest private sector lenders in the United States, reported an annual net profit of Rs 4,125 crore, up 91% from Rs 2,160 crore last year. current supervisory authority.

Net income (NII) (difference between profit and interest paid) was Rs 9,384 crore, up 21% from a year earlier. Revenue for the same quarter last year was 7760 crowns.

The bank said interest on private loans to BSE rose 17% year-on-year and 5% year-on-year.

Sales for the June quarter were Rs 3,576 crore, up 34% from a year earlier. Sales commissions increased 43% year on year and accounted for 66% of the bank’s total revenue. The cost of business and commercial services increased by 19% compared to last year.

The overall NPL for the April-June quarter was 2.76% compared to 2.82% in the March quarter.

Axis Bank said it wrote off Rs 777 crore of bad debts in March against Rs 620 crore.

Axis Bank said it did not implement measures to combat COVID-19 during the quarter.

In total, the bank accumulated 11,830 crowns of reserves at the end of the 123rd quarter. The bank said it should be noted that the GNPA exceeds the NPA criteria included in the calculation of the PCR.

On Bank domestic Subsidiaries

  • – Axis Finance PAT recorded Rs 9,500 crore in the first quarter of FY23, up 59% year-on-year. Consistent asset quality and minimal innovation
  • – Axis AMC in the first quarter of 2023, the PAT increased by 20% year on year to reach 8.8 billion rupees and the AAUM in the third quarter increased by 18%.
  • — Axis Capital’s PAT for the first quarter of FY2023 is Rs 3,400 crore.
  • – Axis Securities, Q1 2023, PAT, Rs 3.9 billion.
  • Akash Bank’s stock price fluctuated -by 0.56% during the week.

Axis Bank’s profit increased by 91% in the third quarter of 2023

Axis Bank’s last quarter was the clearest achievement of Citibank’s trading business in India.

Axis Bank’s last earnings report was on 30/09/2019. The commercial banks said in their regulatory reports that they have noted an increase in operating and growth in margins, in deposits and loans, in higher deposits.

Axis Bank’s PAT (Profit After Tax) grew nearly 91% to Rs 4,125 crore in Q3 2023 compared to Rs 2,160.2 crore in Q4 2022. In the quarter ended June 2013, the bank’s net loans grew nearly 21% to 7,760 Swedish kroner in the same period last year

Amitabh Chaudhry, Managing Director, and CEO, Axis Bank said: We will strengthen ourselves by opening all doors for growth and development, keeping in mind our priority of building a flexible, customer-centric and customer-centric bank. . . . One of the highlights of the last quarter for Axis Bank was the acquisition of Citibank products in India,” said Chaudhry.

The bank’s net banking margin (NIM) was 3.60%, up 14 bps year-on-year and up 11 bps quarter-on-quarter.

Return on equity (YoY) was 15.66% at 587 bps. that. Compared to the same period last year, private loans increased by 25% and small businesses by 27%. The company’s total non-performing assets (NPAs) stood at 2.76%, and it has 109 basis points year on year. Net NPA was 0.64%, down 56 bps, and QoQ down 9 bps YoY.

The capital adequacy ratio (CAR) was 17.83% and the CET1 ratio was 15.16%, including the second part of the profit.

The bank issued 990,000 credits in the first quarter. Axis Bank has also grown 30% in the last three months, taking 17% market share and becoming the second largest player in commercial acquisitions.

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