Dolat Capital: Axis Bank Logs Strong Q2 With Strengthening Core Metrics  
Pedestrians walk past an Axis Bank branch. (Photographer: Dhiraj Singh/Bloomberg)

Dolat Capital: Axis Bank Logs Strong Q2 With Strengthening Core Metrics  

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 better than expected net interest income and pre-provision operating profit growth of 20% and 16% YoY respectively led by higher net interest margin, robust fee income and elevated treasury gains.

Bank made additional Covid-19 provisions of Rs 31 billion in Q2 FY21, taking the overall standard provision buffer to 1.9% of loans or Rs 108 billion (excluding of specific and general provisions).

Management estimates approximately 1.2% of customer assets (approximately Rs 75 billion) to be restructured, two-third of which is expected to come from corporate portfolio and rest from retail/small and medium enterprises.

Click on the attachment to read the full report:

Dolat Capital Axis Bank Q2FY21 Result Update.pdf

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