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Axis Bank Q4 Results Review: Dolat Capital Maintains 'Accumulate', Hikes Target Price
Axis Bank's valuation gap versus large private peers likely to persist owing to lower RoA, growth constraints, and slightly weaker liability profile, says Dolat Capital.
25 Apr 2025, 06:15 AM IST 
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On a full year basis, Axis Bank expects itself to be well placed on NIM, with matched duration on interest rates.
(photo source: Company)
Axis Bank reported a miss on profitability metrics after factoring Rs 8 billion benefit from recovery/write-back on principal portion of govt guaranteed SRs. Margins at 3.97% (+4bps) benefited from lower interest reversals, and yield benefited from focus on high Risk-Adjusted Return on Capital products. Loan growth was muted at 2.5% QoQ (8% YoY), though deposits growth strengthened to 7% QoQ (10% YoY).
