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Business EconomyPosted at: Oct 28 2020 8:15PM


Axis Bank reports 51 pc QoQ growth in net profit

Kolkata, Oct 28 (UNI) Axis Bank has reported 51 per cent QoQ growth in net profit.
Net Interest Income is up 20% YOY, while NIM is up 18 bps QOQ, Fees up 67%
QOQ and Operating Profit up 16% YOY.
Total Deposits (QAB) grew 13% YOY, CASA +RTD ratio up 536 bps YOY and
Loan book (incl. TLTRO) grew by 14% YOY.
Improving asset quality, NNPA1 at 0.98% / 1.03% decrease by 25 bps QOQ.
Market share in UPI (20%) and Mobile banking (18%) was up 800 bps each YOY,
while Card spends are up 49% QOQ.
Balance Sheet strengthened, PCR improved to 77% from 62% YOY; CR2 improves
to 124% and SACR3 at 2.20%.
Capital adequacy ratio (including H1 profit) is at 19.38%, while CET 1 ratio improved
by 188 bps QOQ to 15.38%.
The Board of Directors of Axis Bank Limited approved the financial results for the
quarter and half year ended September 30 at its meeting held in Mumbai on Wednesday,
Amitabh Chaudhry, MD&CEO, Axis Bank said, “The last quarter was an extremely
fulfilling one. Keeping the customer journey at the centre of all our innovations and
solutions, we came up with some great initiatives to suit the current times. We have
now gone to the next level of digital with Video KYC and other tech-enabled solutions
like the AXAA multilingual BOT. As we look forward to an upbeat festive season, we
have ensured that our ‘Dil Se Open Celebrations’ have something for everyone."
UNI BM
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