How were the quarterly numbers of Axis Bank for the Jun-21 quarter?
Answer
Answer
Axis Bank reported 94% growth in its quarterly net profits at Rs.2,160 crore for the Jun-21 quarter. It was largely helped along by higher non-interest income and lower provisioning; just like ICICI Bank. Axis Bank net interest income or NII was up by 11% at Rs.7,760 crore. The NIMs improved marginally to 3.46% and fee income was up over 68% yoy. Gross NPAs fell from 4.72% to 3.85% yoy, a rather rare performance for banks under pressure in Q1.