- Axis Bank's net advances rose 22.7% year-on-year to Rs 13.85 lakh crore in Q2 FY27
- Total deposits increased 20.7% year-on-year to Rs 14.52 lakh crore in the quarter
- CASA deposits grew 10.6% year-on-year to Rs 5.3 lakh crore in Q2 FY27
Axis Bank's net advances rose 22.7% year-on-year to Rs 13.85 lakh crore in the July-September quarter, according to provisional numbers disclosed by the lender on Monday. On a sequential basis, it advanced by 8.8% from Rs 12.73 lakh crore.
The bank's total deposits stood at Rs 14.52 lakh crore, up by 20.7% from Rs 12.04 lakh crore in the year-ago period. In the previous quarter the bank had reported its total deposits as Rs 13.73, marking a sequential rise of 5.8% for the current quarter.
The current account and savings account, or CASA, also saw an 10.6% rise year-on-year to Rs 5.3 lakh crore from Rs 4.8 lakh crore. The bank also noted a sequential rise of 1.5% as CASA in Q1 of FY27 stood at Rs 5.22 lakh crore.
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Besides this, Axis Bank saw an uptick in the average net advances, average CASA, and average deposits as well.
The Bank has mobilised FCNR B Deposits worth $10.62 billion or Rs 1 lakh crore as Of Sept 30 through the Reserve Bank of India's swap window.
Axis Bank Q1 Results
Axis Bank reported a 23% increase in net profit to Rs 7,114 crore for quarter ended June as compared to Rs 5,806 crore in the corresponding period last year. On a sequential basis, profit rose 1%. Net interest income increased 8% year-on-year to Rs 14,646 crore from Rs 13,560 crore and was up 1% quarter-on-quarter. The pre-provision operating profit rose marginally by 1% year-on-year to Rs 11,659 crore, compared with Rs 11,515 crore a year ago. PPOP increased 16% sequentially.
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Provisions declined sharply by 44% year-on-year to Rs 2,223 crore from Rs 3,948 crore. Provisions were also 37% lower compared with the previous quarter. Other income fell 7% year-on-year to Rs 6,735 crore from Rs 7,258 crore, although it increased 12% sequentially. The operating expenses rose 5% year-on-year to Rs 9,722 crore from Rs 9,303 crore but declined 7% on a quarter-on-quarter basis.
The bank's asset quality weakened marginally during the quarter. The gross non-performing asset ratio increased by 5 basis points sequentially to 1.28% from 1.23%, while the net NPA ratio rose by 2 basis points to 0.39% from 0.37%.
Axis Bank Share Price Today
Axis Bank shares closed 0.42% higher at Rs 1,222.2 per share on Monday. The shares have risen 1.02% in one week but fallen 3.99% in one month. The shares are down 4.1% year-to-date but rose 3.49% in one year.
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