Axis Bank Q3 Review - Credit Growth Improved; Restructured Assets At 0.63%: IDBI Capital

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..IDBI Capital Report.Axis Bank Ltd.’s credit growth improved to 17% YoY (10% YoY Q2 FY22) led by balance sheet adjustment corresponding quarter last year.Restructured assets stood at 0.63% lower than its peers; as minimal restructuring under 2.0. Asset quality improved with gross non-performing asset at 3.17% versus 3.53% led by lower slippages and higher recoveries and upgrades. Profit after tax grew by 223% YoY led by lower provisions (down 64% YoY). Net interest income grew by 17% YoY led by improvement in net interest margins at 3.53% (3.39% QoQ). Pre-provision operating profit grew by 17% YoY (up 4% QoQ) led by higher other income (up 31% YoY). With management change behind and strong capital in place, Axis Bank would see better revival in growth within the sector..Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BloombergQuint 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 BloombergQuint..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Axis Bank Q3 Review - Credit Growth Improved; Restructured Assets At 0.63%: IDBI Capital

Axis Bank Q3 Review - Credit Growth Improved; Restructured Assets At 0.63%: IDBI Capital

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