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 asset quality remain stable with gross non performing asset at 3.85% versus 3.7% q-o-q (as per Income recognition and asset classification norms) led by write offs (Rs 34 billion versus 55.5 billion q-o-q); however slippage ratio remain high (4.2% versus 3.4% q-o-q).
BB & below book grew by 3% q-o-q and restructured assets stood at 0.3% of customer assets lower than its peers are key positives during the quarter.
Profit after tax grew by 94% q-o-q led by lower provisions (down 20% q-o-q).
Net interest income grew by 11% y-o-y led by decline in net interest margins at 3.46% (3.56% q-o-q).
With management change behind, strong capital in place and focus on secured retail portfolio, Axis Bank would see better revival in growth within the sector.
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