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.
Yes Securities Report
Axis Bank Ltd.'s gross slippages amounted to Rs 39.81 billion (annualised slippage ratio of 2.4%) and recoveries and upgrades were healthy at Rs 37.63 billion.
Net interest margin at 3.49% was down -4 bps QoQ as Rs 0.83 billion of net interest income was prudently reserved due to a contested arbitration.
Advances grew 6.4%/15.2% QoQ/YoY driven sequentially by retail and small and medium enterprise loans.
Axis Bank's total opex rose 3.9%/22.7% QoQ/YoY, employee expenses de-grew/grew down 2.7%/13.1% QoQ/YoY and other expenses rose 6.8%/27.1% QoQ/YoY.
Fees income rose 12.4%/11.3% QoQ/YoY, where fees on retail assets excluding credit cards grew 16%/41% QoQ/YoY.
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