Net Profit Jumps 41%, The Net interest income up by 27%
July26, 2023
Today Axis bank posted its first quarterly results, it is first fully quarterly results after acquisition of CITI bank business in India.
Find the below results outcome:
Profit After Tax at Rs. 5797 crores up 41% YOY, consolidated ROE (annualized) at 19.44%, up 388 basis points, driven by healthy business momentum and strong all round operating performance.
- Consolidated ROA at 1.83%, up 35 bps YOY with 3 bps contributed by subsidiaries
- Net Interest Income grew 27% YOY and 2% QOQ, Net Interest Margin at 4.10%, up 50 bps YOY
- Fee income grew 28% YOY, Retail fee grew 37% YOY, granular fees at 94% of total fees
- Operating revenues grew 38% YOY, Operating profit grew 50% YOY
- On a QAB1 CASA ratio stood at 44%, up 151 bps YOY and 31 bps QOQ, SA up 20% YOY & 10% QOQ, CA up 17% YOY
- Domestic advances up 26% YOY & 2% QOQ, Retail up 21% YOY & 2% QOQ, SME up 24% YOY, Corporate up 25% YOY
- Overall CAR stood at 17.74% with CET 1 ratio of 14.38%, net accretion to CET-1 of 36 bps in Q1FY24
- GNPA% at 1.96% declined by 80 bps YOY, NNPA% at 0.41% declined by 23 bps YOY
- 1.1 million credit cards issued in Q1, CIF market share2 of 14% as of Jun’23, spends up 78% YOY & 28% QOQ.
- 2nd largest player in Merchant Acquiring with market share of 18.4%, incremental share of 28% in last one year.
Attached is a copy provided by AXIS BANK LTD (“BANK”) to NSE
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