Axis Bank Q3 Review - Asset Quality Outlook Improving; Earnings Set To Gain Momentum: Motilal Oswal 
A pedestrian wearing a protective mask walks past an Axis Bank Ltd. branch on a near-empty street in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)

Axis Bank Q3 Review - Asset Quality Outlook Improving; Earnings Set To Gain Momentum: Motilal Oswal 

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.

Motilal Oswal Report

Axis Bank Ltd. reported weak earnings, with profit after tax impacted by lower income and higher opex, while provisions remained elevated.

Net interest income income was impacted due to the reversal of proforma slippages.

On the business front, retail disbursements were strong QoQ, while disbursements under the Emergency Credit Line Guarantee Scheme supported growth in the small and medium enterprise book.

The bank holds cumulative additional provisions of Rs 119 billion (approximately 2% of loans).

Overall, the bank has approved total restructuring of ~0.42% of loans and does not intend to provide any fresh approvals.

Click on the attachment to read the full report:

Motilal Oswal Axis Bak Q3FY21 Result Update.pdf

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