Axis Bank Q3 Review - Encouraging Credit, Operating Metrics: Dolat Capital 
An Axis Bank Ltd. brochure sits inside a bank branch in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)

Axis Bank Q3 Review - Encouraging Credit, Operating Metrics: Dolat Capital 

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.

Dolat Capital Report

Axis Bank Ltd. reported net interest income and pre-provision operating profit growth of 14% and 6% YoY respectively, impacted by reversal of interest and fee income, adjusted for which growth would stand at 19%/14% respectively.

Net interest margin were stable QoQ at 3.6% despite a 30 basis points impact of interest reversals, benefitting from improving spreads.

Pro-forma non-performing assets increased by 27 basis points QoQ to 4.55%, with pro-forma provision coverage ratio at 75%, amongst the highest in industry.

Slippages (pro forma) were contained at 2.5% for nine-months FY21 and 4.7% for Q3 FY21 (annualized) against 4% for FY20.

Click on the attachment to read the full report:

Dolat Capital Axis Bank Q3FY21 Result Update.pdf

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