New Delhi: AXIS Bank on Monday reported a three-fold surge in its net profit to Rs 3,614 Crore in the quarter ended December 2021 on strong growth in loans and improving the quality of assets.
The third largest private sector bank has posted a net income of RS 1,117 Crore in the same quarter a year ago.
Total revenue during the October-December 2021-22 period rose to more than RS 21,101 Crore from RS 18,355 Crore in the same quarter of 2020-21, the bank axis said in the submission of regulations.
Net interest income rose 17 percent to RS 8,653 Crore during the December 2021 quarter, while net interest margins increased by 14 basis points to 3.53 percent.
Registered lenders 18 percent of retail loan growth, 20 percent of SME loan growth and 13 percent growth in corporate loan books.
Bank credit card shopping rose 52 percent from a year ago.
The provisions of the loss of special loans for Q3 FY22 are Rs 790 Crore compared to RS 927 Crore in Q2 FY22, said Bank.
Bank Non-Performing Assets (NPA) Bank increased to 3.17 percent of gross loans on December 31, 2021 from 3.44 percent in the same period last year.
However, Net NPA grew 0.91 percent from 0.74 percent.
Stock Axis Bank closed at RS 704.35 each at BSE, down 1.16 percent from the previous close.
Bank Axis Bank’s net profit jumped more than 3 times to RS 3,614CR
