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6 Takeaways from Axis Bank's Q4 Results

Apr 28, 2022

6 Takeaways from Axis Banks Q4 Results

Private lender Axis Bank today reported its March quarter results after market hours.

Over the past few quarters, the bank has seen a sharp improvement in its provisions and non-performing assets (NPAs).

So the market was keen on seeing if Axis Bank was able to keep up the pace in this quarter too.

Also, the bank recently acquired Citibank's retail assets in India. Market participants were eagerly waiting on its commentary around growth, credit costs and NIMs.

Here are five key takeaways from Axis Bank's results.

  • Axis Bank's net profit rose 54% year on year (YoY) and stood at Rs 41.2 bn as compared with Rs 26.8 bn in the same quarter last year.

    This was aided by higher net interest income.
  • Net interest income (NII) for the quarter grew 17% YoY to Rs 88.2 bn. Net interest margin (NIM) for the quarter came in at 3.49%.
  • Loans growth came in at 15% YoY with retail loans rising 21% and SMEs up 26% on a YoY basis.
  • Provisions during the quarter stood at Rs 9.9 bn, down 54.4% YoY.
  • Asset quality improved with gross non-performing assets (GNPAs) for the quarter falling to 2.82% of total advances compared with 3.17% in the December quarter and 3.7% in the March quarter last year.
  • The bank's board recommended a dividend of Rs 1 per equity share for the year ended 31 March 2022.

Ahead of its results, shares of Axis Bank closed 1.9% higher on the BSE at Rs 780.

The run-up to its results has been dull with shares falling around 5% in the past one week.

To know more, check out Axis Bank's latest quarterly results and its financial factsheet.

You can also compare Axis Bank with its peers.

Axis Bank vs HDFC Bank

Axis Bank vs ICICI Bank

Axis Bank vs Kotak Mahindra Bank

Disclaimer: This article is for information purposes only. It is not a stock recommendation and should not be treated as such. Learn more about our recommendation services here...

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