Axis Bank q1 profit up 15 per cent

The private sector lender's profit increased by 15 per cent on a quarter-on-quarter QoQ basis.

Net interest income went up 17 per cent YoY and 10 per cent QoQ to Rs 8,653 crore, while the net interest margin increased by 14 basis points QoQ and 2 basis points YoY to 3.53 per cent.

Axis Bank's deposits increased 22 per cent YoY and 3 per cent QoQ on a quarterly average balance basis, while current account and savings account CASA deposits grew 25 per cent YoY and 7 per cent QoQ during the December quarter. The bank said its CASA ratio was up 189 basis points to 44 per cent during the quarter.

As of December 31, 2021, the bank's advances grew 17 per cent YoY and 7 per cent QoQ to Rs 6,64, 866 crore. The loan to deposit ratio was 86 per cent. Retail loans grew 18 per cent YoY and 6 per cent QOQ to Rs 3,67, 494 crore and accounted for 55 per cent of the total.

Net advances.

The share of secured retail loans was about 80 per cent, with home loans comprising 37 per cent of the retail book. The retail segment's disbursements were up 37 per cent YoY and 19 per cent QoQ. The bank said in a release that the SME loan book grew 20 per cent YoY and 9 per cent QoQ to Rs 67,909 crore.

The corporate loan book grew 13 per cent YoY and 7 per cent QoQ to Rs 2,29, 462 crore.

Net NPAs fell 28 basis points YoY and 17 basis points QoQ to 0.91 per cent, while the gross non-performing assets declined by 138 basis points YoY and 36 basis points QoQ to 3.17 per cent.

Our integrated 'One Axis approach has supported many companies, including the 2021 Burgundy Private Hurun India 500 List, which was launched last month. The economy is turning around and the impact of the virus is limited, as we continue our growth focus in retail. Axis Bank MD and CEO Amitabh Chaudhry said that they are optimistic about the future and plan to leverage every sustainable growth opportunity that is available to us.