Axis Bank Q4 Review - Healthy Revival To Aid Improvement In Return Ratios: ICICI Direct
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ICICI Direct Report
Axis Bank Ltd. reported a strong set of numbers with a sequential pick-up in business growth, improved asset quality and better than estimated bottom-line performance.
Net interest income was up 11% YoY to Rs 7,555 crore aided by 7% QoQ rise in loans and stable margins, net interest margins at 3.56% versus 3.55% YoY, 3.59% QoQ.
Despite approximately 20 basis points fall in cost of funds sequentially, margins were stable as a result of higher liquidity coverage ratio, loan mix shift toward better rated portfolios and also previous quarter had positive eight basis points impact of interest of IT refund.
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