As the world of finance is always changing, investors and stakeholders alike should pay close attention to the quarterly results of major banks, including Axis Bank. We go deeply into Axis Bank’s Q4 financial results in this comprehensive analysis, illuminating key financial metrics and insights.

Key Financial Highlights

Profit Dynamics Axis Bank

Axis Bank’s standalone net profit for the March quarter increased to ₹7,129.67 crore, a stunning increase from ₹6,071.10 crore in the previous quarter. This represents a significant quarter-over-quarter (QoQ) increase of 17%. In addition, when compared to the same quarter last year, when the bank lost ₹5,728.42 crore, this quarter’s performance indicates a significant improvement.

Net Interest Income (NII) and Margin

Net interest income (NII) for the bank increased to ₹13,089 crore during the quarter, demonstrating impressive yearly growth. Furthermore, the net interest margin (NIM) showed improvement over the previous quarter, coming in at 4.06%.

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Fee Income Surge

Fee income increased by a strong yearly average to ₹5,637 crore during the quarter. The increase in retail fees, which accounted for 74% of the bank’s overall fee income, was especially notable. The retail card and payment fees showed a noteworthy 39% annual increase.

 Corporate and Commercial Banking Performance

The fees for corporate and commercial banking increased slightly by 2% to ₹1,478 crore. The bank’s diverse revenue streams were highlighted by the ₹1,021 crore in business banking income at the same time.

Non-Interest Income Escalation

The total non-interest income, which includes business, miscellaneous, and fee income, showed a remarkable increase of 22% QoQ and 41% YoY to ₹6,766 crore. The bank’s ability to generate money from sources other than traditional interest-based routes is demonstrated by this strong expansion.

Provisions and Asset Quality

Axis Bank reallocated the COVID provisions into other provisions during the quarter, instead of using them. As of March 31, 2024, the provision coverage ratio stayed strong at 159%, demonstrating the stability of the bank’s risk management system. Furthermore, the bank’s overall net non-performing assets (NNPA) ratio increased slightly to 1.43% from the previous quarter.

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Recovery and Dividend Proposal

Axis Bank reported a net recovery of ₹398 crore in the quarter’s structured recovery pool. In addition, a final dividend of ₹1 per equity share was suggested by the bank’s board, subject to approval at the next 30th annual general meeting.

Fundraising Endeavors

The board of Axis Bank approved plans to use a variety of debt instruments to borrow up to ₹35,000 crore, demonstrating the bank’s proactive approach to strengthening its capital base and supporting expansion aspirations.

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Conclusion

Axis Bank’s Q4 financial performance exemplifies resilience with notable profit growth, consistent revenue sources, and smart risk management practices. Axis Bank’s steadfast dedication to boosting shareholder value and fortifying its financial position puts it in a strong position to manage the shifting banking industry and accomplish sustainable development over time.

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