Axis Bank Q4 Results highlights: Axis Bank reports net profit of ₹7,129 crore, declares dividend of ₹1 per share

• Advances for the bank stood at ₹9.6 lakh crore as on FY24, a 14% YoY jump

• Deposits for the bank stood at ₹10.6 lakh for FY24 crore a 12.8% increase over previous year

• Net interest income grew 11% YOY and 4% QOQ to ₹13,089 crores

• Net interest margin (NIM) for Q4FY24 stood at 4.06% and grew 5 bps QOQ

• Gross NPA at 1.43% declined by 59 bps YoY and 15 bps QoQ, Net NPA at 0.31% declined by 8 bps YoY and 5 bps QoQ

• Close: ₹1,065
• high: ₹1,068.95
• Low: ₹1,056
• Traded volume: 56.41 lakh
• Traded value: ₹600.12 crore
• Total market capitalisation: ₹3,28,754.12 crore

• Amitabh Chaudhry- Managing Director & Chief Executive Officer
• Rajiv Anand- Deputy Managing Director
• Subrat Mohanty- Executive Director
• Ganesh Sankaran- Group Executive- Wholesale Banking Coverage Group
• Neeraj Gambhir- Group Executive- Treasury, Markets and Wholesale Banking Products
• Puneet Sharma- Chief Financial Officer
• Sumit Bal- Group Executive and Head- Retail Lending
• Munish Sharda- Executive Director
• Prashant Joshi- Group Executive and Chief Credit Officer

Retail banking

• Deposits
• Loans
• Investments
• Payment solutions
• Digital banking

Corporate credit

• Working capital
• Term loan
• Project finance

Treasury

• Asset liability management
• Correspondent banking activity
• Foreign exchange and derivative trading
• Bullion business
• Investments in SLR and Non-SLR securities
• Arranger ship business

Transaction banking

• Current accounts
• Collection & payment solutions
• Forex
• Trade services
• Capital market solutions

SME business

• Working capital
• Term loan
• Trade finance
• Project finance

"Axis Bank is the third largest private sector bank in India offering an entire comprehensive spectrum of financial services to customer segments covering large and mid-corporates, micro, small and medium enterprises (MSME), agriculture and retail businesses," the lender said in its website.

Vision

"To be the preferred financial solutions provider excelling in customer delivery through insight, empowered employees and the smart use of technology," the bank said.

Axis Bank is the third largest private sector bank in India. It provides a wide range of financial products and services to individuals, businesses, and corporates such as:

• Retail Banking
• Corporate Banking
• Wealth Management
• NRI Banking
• Digital Banking
• International Banking

• Nurani Subramanian Vishwanathan- Independent Director and Non-Executive (Part-time) Chairman
• Amitabh Chaudhry- Managing Director and Chief Executive Officer
• Girish Paranjpe- Independence Director
• Meena Ganesh- Independent Director
• S Mahendra Dev- Independent Director
• PN Prasad- Independent Director
• Mini Ipe- Non-Executive (Nominee) Director

In an exchange filing on April 19, the private lender had said the Board of Directors of the bank will meet on April 24 "to consider and approve the audited standalone and consolidated financial results of the bank for the quarter and year ended March 31, 2024".

The bank will host an earnings call with analysts and investors at 6:15 am on Wednesday, wherein the senior management of the bank will discuss the financial results with the participants.

Investors are keenly waiting for the bank's profit figures for the January-March quarter as the company had reported a net loss reported in the last quarter of FY 2022-23 due to the merger with Citi. The focus will also be on the bank's net interest income margins and non-performing assets (NPAs) as a percentage of advances.

Axis Bank had posted a 25% jump in consolidated total to ₹35,136.83 crore in Q3 FY24 against ₹27,990.34 crore in the year-ago period. The lender had reported a 6% growth in total income to ₹33,122.23 crore in the September quarter. In the July quarter, the total income stood at ₹30.644.04 crore.

The net profit also surged to ₹6,071.10 crore in Q3 FY24 compared to ₹5,853.07 crore a year ago. The bank had reported a net profit of ₹5.863.56 crore in the September quarter.

Last week, HDFC Bank had reported its Q4 results. The private lender had posted a net profit of ₹16,511.85 crore in the quarter ending March 31, 2024, as against ₹16,372.54 crore in Q3 FY24.