Axis Bank Q3 Results Review - Placed As The Top Pick In May 2022, Thesis Remains Intact: Yes Securities

"BQ Prime’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 BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy. .Yes Securities Report.Of the gross slippages during the quarter, Rs 4.10 billion were non-recurring or prudent items. Axis Bank Ltd.'s provisions for the quarter were Rs 14.38 billion, up by 161% QoQ and 7.7% YoY, which translated to a credit cost of 65 basis points on annualised basis. The provisions contained non-recurring provisions worth Rs 3.4 illiobn, which implies that underlying credit costs were 53 bps on annualised basis. The total non-non performing asset provisions amount to Rs 116.33 billion and all provisions taken together provide a 139% coverage on gross non performing asset.The share of loans and investment in total assets was 87%, up 300 bps YoY. The Rural Infrastructure Development Fund book has declined as a share of assets to 2.7% as of December 2022 from 3.8% a year ago. The share of Indian rupee-denominated loans was 93.3% of total advances, up 290 bps YoY. Further, the share of retail and CBG loans was 67% of total advances, up 195 bps YoY. Also, the share of mid corporate loans, small and medium enterprise and small business banking is 20%, which is up about 510 bps in two years. .Click on the attachment to read the full report:.Axis Bank Q3 Results: Profit Rises 62% On Higher Net Interest Income.More Research Reports On Axis Bank's Q3 FY23 Results Reviews.Earnings Momentum Steady; Margin Improves Further: Motilal OswalOpex Contained; Retail Deposits Traction A Monitorable: Dolat Capital.DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner."

Axis Bank Q3 Results Review - Placed As The Top Pick In May 2022, Thesis Remains Intact: Yes Securities

Axis Bank's conservative approach to asset quality recognition continued even as outcomes remained under control in absolute sense

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Axis Bank Q3 Results Review - Placed As The Top Pick In May 2022, Thesis Remains Intact: Yes Securities

Axis Bank's conservative approach to asset quality recognition continued even as outcomes remained under control in absolute sense

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