Axis Bank Q2FY21 Finance results report Net profit jump 16% to Rs 1,683 crore
India Is the largest private bank of Axis Bank Ltd Wednesday announced the Q2FY21 Finance results report on the Net profit jump 16% percent to Rs.1,683 crore as against last year the same quarter compared to the bank net loss of Rs.112 crore Q2FY21.
This bank total revenue for 20% percent growth on YoY to Rs.7,326 crores in Q2FY21 as against last year the same quarter same time revenue Rs.6,102 crores. In the Bank Net margin increase on this quarter 3.58% as against 3.51% percent the last year.
Axis Bank’s other income for Fees income growth QoQ 67% percent to Rs.2,752 crores. The bank key driver of income growth was Retail fees, which grew 82% percent on QoQ. Non-interest Income for this quarter de-grew by 2% to 3,807 crores from Q2FY20 is Rs.3,896 crores.
The bank-specific loan loss provision for Q2FY21 was Rs.588 crores as against last year the same quarter Rs.2,701 crore. The Bank has made incremental provisions of Rs.1,279 crores toward loans under moratorium and Rs.1,864 crores towards probable restructuring.
Axis Bank Balance sheet growth 12% YoY to Rs.9,09,463 crore on 30 September 2020. In the bank total deposits grew by 13% on quarterly average balance (QAB) and Saving account deposits growth 15% percent on quarter-on-quarter, current account deposits increase 18% percent year-on-year and Retail Term Deposits growth 25% percent by YoY/ CASA ratio 20% and Retail Term Deposits in the total Deposits on QAB basis was up 536 bps YoY and 357 bps QoQ to 84% as of 30 September 2020.
The Bank TLTRO investments grew 14% YoY to Rs.5,94,461 crores in the quarter. Retail loans 12% percent up on YoY to Rs.3,05,685 crores. the bank gross net NPA levels were 4.18 and 0.98% the respectively as against 4.72% and 2.23% as of 30 June 2020.
Axia Bank’s current share price Rs.504.70.
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