BAJAJ BROKING
In Q2 FY24-25, Axis Bank showcased a strong financial performance, reporting a consolidated profit surge and steady growth across multiple metrics. The bank's efforts in expanding its digital presence and growing its core segments contributed significantly to this impressive quarter.
These consolidated results reflect Axis Bank’s strategic focus on maintaining operational efficiency and asset quality while expanding its core business.
Axis Bank reported an operating profit of ₹10,712 crore, reflecting a 24% Y-o-Y growth. The consolidated net profit for the quarter rose by 18% Y-o-Y, reaching ₹6,918 crore. This was driven by a 9% growth in Net Interest Income (NII), which stood at ₹13,483 crore for Q2 FY24-25.
The bank continued to witness strong deposit growth, with total deposits reaching ₹10,86,744 crore, a 14% Y-o-Y increase. Retail loans also surged by 15% Y-o-Y, underscoring the bank’s focus on expanding its core banking segments.
Axis Bank’s retail and SME segments performed exceptionally well, contributing significantly to the overall growth of the bank.
Particulars | Q2 FY24-25 (₹ in Cr) | Q2 FY23-24 (₹ in Cr) | Y-o-Y Growth (%) |
Operating Revenue | 20,205 | 17,349 | 16% |
Operating Profit | 10,712 | 8,632 | 24% |
Net Profit | 6,918 | 5,864 | 18% |
Net Interest Income (NII) | 13,483 | 12,315 | 9% |
Other Income | 6,722 | 5,034 | 34% |
Operating Expenses | 9,493 | 8,717 | 9% |
Net Advances | 9,99,979 | 8,97,347 | 11% |
Total Deposits | 10,86,744 | 9,55,556 | 14% |
CASA Deposits | 4,41,053 | 4,23,866 | 4% |
Gross NPA (%) | 1.44% | 1.73% | 29 bps Improvement |
Net NPA (%) | 0.34% | 0.36% | 2 bps Improvement |
Capital Adequacy Ratio | 16.61% | 17.84% | -123 bps |
Return on Assets (ROA) | 1.84% | 1.76% | 8 bps Improvement |
Return on Equity (ROE) | 17.58% | 18.30% | -72 bps |
The bank’s Q2 results met and, in many cases, exceeded sector expectations. The Gross NPA ratio improved to 1.44%, while the Net NPA ratio stood at 0.34%. The bank's capital adequacy ratio (CAR) was maintained at a healthy 16.61%, ensuring adequate capital buffers. These strong financials reinforce Axis Bank’s position as one of the leading players in the banking sector.
Amitabh Chaudhry, the MD & CEO of Axis Bank, commented on the strong performance, emphasizing the bank’s focus on balancing digital advancements with physical expansion. He highlighted the bank’s efforts in maintaining asset quality and driving growth through retail, SME, and corporate segments.
Source: Axis Bank Q2 Results FY’24-25 Press Release Submitted on BSE.
Check out Axis Bank’s past performances in previous quarters and financial years.
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This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.
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