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 credit growth stood at 15% YoY (17% YoY Q3 FY22) and 6% QoQ led by growth across segments. Restructured assets stood at 0.52% versus 0.63% lower than its peers; as minimal restructuring under 2.0.
Asset quality improved with gross non-performing asset at 2.8% versus 3.17% led by lower slippages and higher recoveries and upgrades. Profit after tax grew by 53.8% YoY led by lower provisions (down 54% YoY).
Net interest income grew by 17% YoY however net interest margins declined to 3.49% versus 3.56% YoY (3.53% QoQ). Pre provision operating profit grew by 13% YoY (up 2% QoQ) led by higher other income (up 19% YoY).
Axis Bank's management guided to reach 18% plus return on equity in next few years with focus on better quality growth.
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