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:
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the brokerage and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.