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.
ICICI Direct Report
In Q2 FY21, Axis Bank Ltd. reported net interest income growth of 20% YoY to Rs 7326 crore.
Strong NII growth was driven by expansion in net interest margin, which jumped 7 basis points YoY, 18 bps QoQ to 3.58%.
Sequential 18 bps expansion in NIM was due to 3 bps from capital raise, 5 bps from lower interest reversals and 10 bps from better liquidity management.
From Q1 FY21, the bank is adding some amount in NII reserve. As a result, NIM was negatively impacted by 5 bps.
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