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.
Centrum Broking Report
Axis Bank Ltd.’s earnings were mixed. Net interest income/loan growth were largely in-line while net interest margin was a tad below estimate.
Net interest margin may enhance as Rural Infrastructure Development Fund loans decline and higher yielding retail and current account and savings account share rises.
Opex was a miss led by higher staff cost due to bundling of increments, employee addition and rise in gratuity cost.
Net slippages were a miss at Rs 40 billion (estimate- Rs 31.2 billion) of which retail were Rs 37.4 billion (mainly mortgages).
As per Axis Bank, stress build up is transitory and recoveries may gather pace from Q3 FY22.
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