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View Promises →Axis Bank Ltd — Q3 FY25
Axis Bank reported a steady Q2 FY25 with PAT of INR 6,918 crore, up 18% YoY, driven by healthy operating income and moderated expense growth.
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Axis Bank reported a steady Q2 FY25 with PAT of INR 6,918 crore, up 18% YoY, driven by healthy operating income and moderated expense growth. Consolidated ROA improved to 1.92% and ROE to 18.08%. Deposit growth remained strong at 14% YoY, outpacing the industry by 200 bps, while loan growth lagged at 11% YoY due to calibrated retail lending, especially in unsecured segments where stress is evident. Management reiterated medium-term loan growth guidance of 300-400 bps above industry, but near-term deposit constraints and asset quality vigilance may cap acceleration. Key risk: unsecured retail slippages could persist if macroeconomic conditions weaken further.
एक्सिस बैंक ने सितंबर 2024 तिमाही में 6,918 करोड़ रुपये का शुद्ध लाभ कमाया, जो पिछले साल से 18% ज्यादा है। यह बैंक की कमाई बढ़ने और खर्चों पर नियंत्रण के कारण हुआ। बैंक की कमाई दर (ROA) 1.92% और निवेश पर रिटर्न (ROE) 18.08% रहा। जमा में 14% की बढ़ोतरी हुई, जो बाजार से 2% ज्यादा है। लेकिन कर्ज देने में सिर्फ 11% बढ़ोतरी हुई, क्योंकि बैंक ने छोटे कर्ज (जैसे क्रेडिट कार्ड) में सावधानी बरती, जहां कर्ज न चुकाने का खतरा बढ़ रहा है। बैंक का कहना है कि आने वाले समय में कर्ज बाजार से 3-4% ज्यादा बढ़ेगा, लेकिन जमा की कमी और कर्ज वसूली में सावधानी से यह धीमा रह सकता है। अगर अर्थव्यवस्था कमजोर हुई तो छोटे कर्ज में और नुकसान हो सकता है।
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Unsecured retail slippages may persist
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Read Transcript →Quarter Snapshot
CASA Ratio
40%
Flat QoQ
Quarterly average CASA ratio remained stable sequentially, reflecting disciplined deposit pricing.
Gross NPA Ratio
1.44%
-29 bps YoY
Gross NPA improved year-on-year, indicating better asset quality despite retail slippages.
Net Interest Margin
3.99%
-6 bps QoQ
NIM declined slightly due to income tax refund in prior quarter; operating NIM was flat QoQ.
Cost-to-Income Ratio
47.21%
-207 bps YoY
Cost-to-income improved significantly year-on-year, reflecting operating leverage.
What Changed vs Last Quarter
NEW
No need for equity capital; may issue Tier 2/AT1
Bank does not need equity capital for growth or protection; may opportunistically evaluate Tier 2 and AT1 instruments.
UPDATED
Medium-term loan growth 300-400 bps above industry
Management expects advances to grow 300-400 basis points faster than industry in the medium to long term, driven by focus segments.
UPDATED
Deposit growth to remain a key constraint in short term
Deposit growth will be a key constraint for advances growth in the short to medium term, given regulatory focus on CD ratio.
DROPPED
Cost growth moderation to continue
Management expects pace of cost growth to moderate, having delivered 9% YoY growth in Q2.
🤫 Topics management stopped discussing
Mentioned in Q2 FY24, Q3 FY24
Tight liquidity and rising deposit costs could limit the bank's ability to grow loans at the desired pace, potentially compressing NIMs.
Mentioned in Q3 FY24, Q4 FY24
Management expects system credit growth to converge towards deposit growth of around 13% for the fiscal year.
Fast read
Guidance and risk preview
Management expects advances to grow 300-400 basis points faster than industry in the medium to long term, driven by focus segments.
Retail slippages, largely from unsecured products, have increased 40-45 bps YoY.
View Risks →