Axis Bank recorded a internet revenue of Rs 2,677 crore for Q4 of 2020-21
Axis Bank posted a internet revenue of Rs 2,677 crore for the quarter ended March 2021 (Q4) owing to a steep fall in unhealthy mortgage provisions. It had reported a lack of Rs 1,387.8 crore throughout the corresponding interval. Its internet curiosity earnings grew by 11 per cent to Rs 7,555 crore in Q4 of FY21 in comparison with Rs 6,807.7 crore throughout the corresponding interval.
Axis Bank mentioned that its whole deposits grew by 10 per cent on period-end foundation and by 9 per cent YoY on quarterly common stability (QAB) foundation.
On the asset high quality entrance, gross non-performing property (NPAs) as a proportion of gross advances elevated to three.70 per cent as of March 2021, from 3.44 per cent as of December 2020. Net NPA additionally climbed to 1.05 per cent from 0.75 per cent in the identical interval.
The financial institution’s mortgage to deposit ratio stood at 88 per cent, whereas retail loans grew 10 per cent YoY and accounted for 54% of the online advances, the financial institution added.
Domestic retail loans grew 11 % YoY. “The share of secured loans was 81 per cent with home loans comprising 36 per cent of the retail book. Retail disbursements touched new all-time highs led by higher contribution from secured loan segments,” mentioned Axis Bank in an announcement.
