Axis Bank: S&P upgrades outlook to positive on improved asset quality
S&P Global Ratings has affirmed 'BB ' long-term and 'B' short-term issuer credit ratings on the bank.The global ratings agency has also affirmed the 'BB ' long-term issue rating on the bank's outstanding debt
AXIS BANK LTD. - 532215 - Announcement under Regulation 30 (LODR)-Credit Rating
This is to inform you that credit rating agency S&P Global Ratings has revised the outlook on Axis Bank Limited ('the Bank') to 'positive' from 'stable'. At the same time, S&P Global Ratings has affirmed its ''BB+'' long-term and ''B'' short-term issuer credit ratings on the Bank. S&P Global Ratings has also affirmed the ''BB+'' long-term issue rating on the bank''s outstanding debt. The rating rationale letter of S&P Global Ratings received by the Bank today is attached herewith. AXIS BANK LTD. - 532215 - Re-Appointment Of Rakesh Makhija As The Non-Executive (Part-Time) Chairman Of The Bank
This is to inform you that based on the recommendations made by the Nomination and Remuneration Committee of Directors, the Board of Directors of the Bank at its meeting held today i.e. January 25, 2022 approved the re-appointment of Rakesh Makhija (DIN: 00117692), as the Non-Executive (Part-time) Chairman of the Bank, including the terms and conditions and his remuneration, with effect from July 18, 2022 upto October 26, 2023 (both days inclusive), subject to the approval of the Reserve Bank of India ('the RBI') and the Members of the Bank, in terms of the Companies Act, 2013, the Banking Regulation Act, 1949, and the rules, guidelines and circulars issued by the RBI, from time to time, and the SEBI Listing Regulations. The brief profile of Rakesh Makhija is attached herewith.
Axis Bank shares rise nearly 7% as Q3 net profit surges three-fold
Shares of Axis Bank on Tuesday rallied nearly 7 per cent after the company reported a sharp three-fold jump in its consolidated net profit for the December quarter.
What should investors do with Axis Bank after Q3 earnings; buy, sell or hold?
Gross non-performing asset ratio slipped 36 basis points sequentially to 3.17 percent. Net NPA ratio fell 17 basis points to 0.91 percent. Axis Bank Q3: Firing on all cylinders; add during market weakness
Even without factoring in the value of the subsidiaries, the stock of Axis Bank trades at a discount to its larger private sector peers. The weakness in the market presents an opportunity to gradually build up position in the stock
Earnings Call for Q3FY22 of Axis Bank
Conference Call with Axis Bank Management and Analysts on Q3FY22 Performance and Outlook. Listen to the full earnings transcript. AXIS BANK LTD. - 532215 - Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS
We are pleased to inform that the Bank has allotted 84,170 equity shares of Rs. 2/- each of the Bank on January 24, 2022, pursuant to exercise of stock options under its ESOP Scheme. The paid up share capital of the Bank will accordingly increase from Rs. 613,54,81,822/- (306,77,40,911 equity shares of Rs. 2/- each) to Rs. 613,56,50,162/- (306,78,25,081 equity shares of Rs. 2/- each). AXIS BANK LTD. - 532215 - STATEMENT OF DEVIATION(S) OR VARIATION(S) FOR THE QUARTER ENDED DECEMBER 31, 2021
With reference to the captioned subject, please find enclosed herewith as Annexure A, "Statement of deviation(s) or variation(s) in the use of proceeds' for Non-Convertible Debentures of the Axis Bank Limited, issued on a private placement basis, during the quarter ended December 31, 2021. Q3FY22 Quarterly Result Announced for Axis Bank Ltd.
Banking firm Axis Bank declares Q3FY22 result: Q3FY22 PAT of Rs 3,614 crores up 224% YoY & 15% QoQ Strong growth performance across deposits and loans, improving asset quality Operating profit grew 17% YoY & 4% QoQ; Net Interest Income up 17% YoY & 10% QoQ, Fee income up 15% YoY & 3% QoQ On QAB basis: Total deposits grew 22% YoY & 3% QoQ; SA grew 24% YoY & 4% QoQ, CA grew 27% YoY & 13% QoQ Loans up 17% YoY &7% QoQ, Retail up 18% YoY & 6% QoQ, SME up 20% YoY & 9% QoQ. Corporate up 13% YoY & 7% QoQ GNPA% at 3.17% declined by 138 bps YoY and 36 bps QoQ, NNPA% at 0.91% declined by 28 bps YoY and 17 bps QoQ, Total CRAR (incl. 9MFY22 profit) at 18.72% with CET1 of 15.33%, covid provisions not utilised, limited restructuring at 0.63% of GCA One Axis: Domestic subsidiaries delivered strong 9MFY22 PAT of Rs 872 crores, up 61% YoY and higher than full year FY21 profit More than 0.77 million credit cards issued in Q3FY22, highest ever for any quarter Among the highest rated mobile banking app with Apple App store rating of 4.6 and Google Play store rating of 4.6 Amitabh Chaudhry, MD&CEO;, Axis Bank said, “As part of our digital strategy, we continue to focus on ‘OPEN’ Banking initiatives to enhance user experience through constant innovation in our offerings to both Retail and Corporate Banking customers. Our integrated ‘One Axis’ approach has supported many corporates, some of which have also figured in the 2021 Burgundy Private Hurun India 500 List launched last month. In Retail, we continue our growth focus, with the economy turning around and limited impact of the virus. We are optimistic about the future and plan to leverage every sustainable growth opportunity that is available to us.” Result PDF