BQ Blue's special research section collates quality and in-depth equity and economy research reports from across India's top brokerages, asset managers and research agencies. These reports offer BloombergQuint's subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Yes Securities Report
Axis Bank Ltd.'s gross slippages amounted to Rs 41.47 billion (annualised slippage ratio of 2.6%) and recoveries and upgrades were healthy at Rs 32.88 billion.
Net interest margin at 3.53% was up 14 basis points QoQ aided partly by lower interest reversals, whose benefit was 5 bps QoQ.
Advances grew 6.9%/14.1% QoQ/YoY driven sequentially by all-round growth in most segments. Total opex rose 9.7%/25.3% QoQ/YoY, employee expenses rose 0.2%/15.6% QoQ/YoY and other expenses rose 14.5%/30.1% QoQ/YoY.
Axis Bank's fees income rose 3.5%/15.1% QoQ/YoY driven by generally improved business activity.
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