Axis Bank Results

Axis Bank share: On the bourses, Axis Bank share price tumbled 6.3 per cent intraday to hit a fresh 52-week low of Rs 974.45 per share

At 6:35 AM, GIFT Nifty futures indicated a weaker start for the markets, trading 56 points lower at 23,321.5

The Mumbai-based private lender's standalone net profit - which excludes its subsidiaries - rose 4 per cent to Rs 6,304 crore

At 6:35 AM, GIFT Nifty futures indicated a gap-up opening for the markets, trading 150 points higher at 23,416

Axis Bank Q3 results expectations: There are expectations that Axis Bank Q3 results could be a weak set of numbers, dragged by weak loan and deposit growth, margin pressure and poor asset quality

Axis Bank share price: Brokerages have cut their earnings forecast by up to 5 per cent over FY25-27 to factor in Q2 results

The Mumbai-based private lender's standalone net profit - which excludes its subsidiaries - rose to Rs 6,918 crore

Axis bank's one-time charge for Citibank's consumer biz acquisition shows impact Annual profit grow by hefty 25.3% in Fy23

In March 2022, Axis Bank said it would purchase Citi's retail business in a transaction worth Rs 12,235 crore

According to analysts, Axis' earnings beat was led by NIM expansion, and credit cost being restricted at less than 20 bps

Axis Bank Q1 Results: In FY22, the bank doubled its net profit to Rs 13,025 crore. The operating profit of the bank grew by 13 per cent YOY & 5 per cent QOQ, in Q4FY22

As the competition heats up between banks and the new-age fintech firms, large banks with healthy operational perfomances and strong balance sheet will continue to grow faster than the industry, Axis Bank MD&CEO Amitabh Chaudhry said in the annual report 2021-22 released on Wednesday. With a number of transformation driven initiatives like One Axis and stepping up of investments on technology among others, he said these are the steps for building a 'Bank of Bharat'. "....raising the bar on customer obsession with our project 'Sparsh', and the contracted acquisition of Citi's India consumer business continue to push our agenda in the right direction," Chaudhry said in his statement to the shareholders of the bank. He said there has been intense competition between the incumbent banks and new age fin-tech companies to win the hearts and minds of customers. "In such an environment, the large banks with healthy operational performance, strong balance sheet and capital position, ...

With inflation remaining at elevated levels, RBI may gradually increase the benchmark lending rate to about 5.75% by the end of this fiscal, Axis Bank chief economist Saugata Bhattacharya said

Lender's board recommends dividend of Rs 1 per equity share for the year ended 31 March, 2022.

The lender may see single-digit loan growth, deterioration in asset quality, and slippages at 4.5 per cent of loan book

NII has grown 20 per cent to Rs 7,326 crore in the July-September quarter of FY21, compared to Rs 6,102 crore in the corresponding period of last financial year

The results outcome have seen profit booking on the gap up opening

Axis' credit costs for the quarter ended March 31, 2020 are higher than anticipated, but some of it is precautionary

Historically, Q4 is the first time since March 2018 that the bank has dipped into losses of this magnitude because of the provisioning cost

the bank reported a 17 per cent increase in its operating profit at Rs 5,851 crore in the March quarter