Axis Bank Reports Strong Loan Growth, Margin Outlook in Focus

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AuthorKavya Nair|Published at:
Axis Bank Reports Strong Loan Growth, Margin Outlook in Focus
Overview

Axis Bank reported provisional January-April growth figures. Gross advances climbed 6.3% sequentially to Rs 12.4 lakh crore, up 18.4% year-on-year. Total deposits rose 6% sequentially to Rs 13.4 lakh crore, with CASA deposits up 7.3% sequentially. These preliminary numbers follow a Q3 where net profit reached Rs 6,490 crore and gross NPAs fell to 1.4%. While growth appears robust, investors are watching closely how the bank manages net interest margins and operating costs amid increasing competition and deposit rate sensitivity in the Indian banking sector.

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Strong Loan and Deposit Growth

Axis Bank has released preliminary figures for January through April, showing robust expansion. Gross advances increased by 6.3% from the previous quarter, reaching Rs 12.4 lakh crore. This marks an 18.4% rise year-on-year. Total deposits grew 6% sequentially to Rs 13.4 lakh crore. The bank also reported strong growth in its low-cost Current Account and Savings Account (CASA) deposits, which climbed 7.3% sequentially to Rs 5.3 lakh crore.

These preliminary results build upon a solid third quarter, during which Axis Bank posted a net profit of Rs 6,490 crore. Asset quality metrics also improved, with gross non-performing assets (NPAs) declining to 1.4% of the loan book, falling below the 1.5% expectation. Net NPAs eased to 0.42%. The bank's net interest income in Q3 stood at Rs 14,287 crore, yielding a net interest margin (NIM) of 3.64%.

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