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Axis Bank Ltd (AXBK.NS)

AXBK.NS on National Stock Exchange of India

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Latest Key Developments (Source: Significant Developments)

Axis Bank March-qtr profit down about 43 pct
Wednesday, 26 Apr 2017 08:07am EDT 

April 26 (Reuters) - Axis Bank Ltd :March quarter net profit 12.25 billion rupees .Says recommended dividend of INR 5 per share.March quarter interest earned 111.68 billion rupees versus 108.99 billion rupees year ago.March quarter provisions 25.81 billion rupees versus 11.68 billion rupees year ago.March quarter gross NPA 5.04 percent versus 5.22 percent previous quarter.March quarter net NPA 2.11 percent versus 2.18 percent previous quarter.Consensus forecast for march quarter net profit was 9.51 billion rupees.As on 31st march 2017, fund based outstanding on the bank’s watch list reduced 15% over the previous quarter and stood at 94.36 billion rupees.Watch list has reduced to 2.2% of customer assets in march 2017, from 2.8% of customer assets in december 2016 and 6.2% as on 31st March 2016.Says qtrly provision coverage ratio (PCR) improved to 65% from 64% QOQ.On a cumulative basis for the year ended 31st march 2017, 84% of corporate slippages originated from the watch list.March quarter NIM 3.83 percent.During quarter, reduction in watch list primarily represents slippages to NPAs worth INR 35.66 billion, which comprises 83% of total corporate credit slippages..March quarter net profit last year was 21.54 billion rupees.The profit alert was first sourced from TV and later confirmed from a press release off the NSE.  Full Article

Axis Bank updates on CBI booking officials on deposits post demonetization
Tuesday, 11 Apr 2017 09:07am EDT 

Axis Bank Ltd : Axis Bank Ltd clarifies on news item "CBI books Axis Bank officials for Rs 100.57 crore deposits post demonetization" . Axis Bank Ltd says event will not have any bearing on the operations/financials of the bank . Axis Bank Ltd says CBI inquiry pertains to an earlier investigation relating to cash deposits made at co's Memnagar branch during Nov & Dec 2016 .Axis Bank Ltd - bank had completed preliminary investigations and had taken appropriate actions against employees found to have indulged in irregularities.  Full Article

Axis Bank signs deal with GUS Holdings B.V. for sale of 10 pct of Experian India
Friday, 31 Mar 2017 09:27am EDT 

Axis Bank Ltd : Says signed deal with GUS Holdings B.V. for sale of 10 percent shares of Experian India to GUS Holdings at INR 45.7 per share . Says deal for total cash consideration of 640 million rupees .Says deal expected to be completed by June 2017.  Full Article

Axis Bank & Wells Fargo partner to offer remittance facility to US-based NRI customers
Thursday, 30 Mar 2017 05:54am EDT 

Axis Bank Ltd : Axis Bank and Wells Fargo enter into bilateral arrangement to offer remittance facility to US-based NRI customers .Co's NRI customers can send remittances to their accounts in India 24x7 through Wells Fargo's "Expresssend Service", after enrolment in service.  Full Article

Axis Bank says report on merger with Kotak is "baseless speculation"
Thursday, 9 Feb 2017 04:09am EST 

Axis Bank Ltd : Axis Bank Ltd says clarifies on news item about possible merger with Kotak .Axis Bank Ltd says above report is baseless speculation.  Full Article

Axis Bank to sell shares of Experian Credit Information Co of India for 640 mln rupees
Tuesday, 7 Feb 2017 05:38am EST 

Axis Bank Ltd :Says signs agreement for sale of 14 million shares of Experian Credit Information Co of India for INR 640 million.  Full Article

Axis Bank Dec qtr profit falls about 73 pct
Thursday, 19 Jan 2017 06:08am EST 

Axis Bank Ltd : Dec quarter net profit 5.80 billion rupees versus net profit of 21.75 billion rupees year ago . Dec quarter interest earned 111.01 billion rupees versus 101.93 billion rupees year ago . Dec quarter provisions 37.96 billion rupees versus 7.13 billion rupees year ago . Dec quarter gross NPA 5.22 percent versus 4.17 percent previous quarter . Says net interest margin for Q3FY17 stood at 3.43 pct . Dec quarter net NPA 2.18 percent versus 2.02 percent previous quarter . Axis Bank Ltd consensus forecast for Dec quarter net profit was 7.79 billion rupees . Axis Bank says watch list loans reduced to 2.8% of customer assets in Dec 2016, from 3.5% in Sept 2016 and 6.2% at beginning of current FY . Axis bank says under basel III, total car & tier i car (including the net profit for 9MFY17) stood at 16.59% and 12.99% respectively during quarter . Dec quarter gross slippages declined by 48% Q-o-Q .Most of the slippages in corporate lending in Dec quarter were from the watch list.  Full Article

India's Axis Bank sees FY17 credit costs at roughly double of previous guidance
Tuesday, 25 Oct 2016 08:00am EDT 

Axis Bank Ltd : Axis Bank Ltd exec says bad loans rose as some watch list accounts slipped into NPLs . Axis Bank Ltd exec says "operating environment continues to remain challenged" . Axis Bank Ltd exec says higher proportion of watchlist may turn NPL than previously guided . Axis Bank Ltd exec says sees credit costs for the full year at roughly around 305 BPS recorded in H1 Further company coverage: [AXBK.NS] (Bengaluru newsroom) ((ReutersIndia.snapping@thomsonreuters.com ;)) Keywords: AXIS BANK RESULTS (URGENT).  Full Article

Axis Bank Sept-qtr profit down about 83 pct
Tuesday, 25 Oct 2016 07:30am EDT 

Axis Bank Ltd : Sept quarter net profit 3.19 billion rupees . Axis bank ltd consensus forecast for sept quarter net profit was 16.61 billion rupees . Sept quarter interest earned 111.59 billion rupees versus 99.60 billion rupees year ago . Sept quarter provisions 36.23 billion rupees versus 7.07 billion rupees year ago . Sept quarter gross NPA 4.17 percent versus 2.54 percent previous quarter . Sept quarter net NPA 2.02 percent versus 1.08 percent previous quarter . Under basel iii, total car & tier i car stood at 15.20% and 12.03% respectively. . Says watch list loans as on september 30, 2016 reduced by 32% quarter on quarter and stood at 137.89 billion rupees . Says watch list has reduced to 3.5% of customer assets in September 2016, from 5.4% in june 2016 . Sept quarter NIM 3.64 percent .The profit alert was first sourced from TV and later confirmed from a press release at the National Stock Exchange.  Full Article

India's Axis Bank June-qtr profit down about 21 pct
Friday, 22 Jul 2016 07:25am EDT 

Axis Bank Ltd : Says June-quarter net profit 15.56 billion rupees versus net profit of 19.78 billion rupees year ago . Says June-quarter gross NPA 2.54 percent versus 1.67 percent previous quarter . Says June-quarter interest earned 111.14 billion rupees versus 99.36 billion rupees year ago . Says June-quarter net NPA 1.08 percent versus 0.70 percent previous quarter . Says June-quarter provisions 21.17 billion rupees versus 11.22 billion rupees year ago . Consensus forecast for June-quarter net profit was 19.98 billion rupees . Says June-quarter net interest margin 3.79 percent . Says watch list loans as on June 30, 2016 reduced 10% quarter on quarter and stood at INR 202.95 billion . Says most of the slippages on corporate lending in Q1 were from the watch list .  Full Article

More From Around the Web

BRIEF-India's Axis Bank cuts home loan rates by 30 bps

May 18 Axis Bank Ltd * Says reduces its home loan rates by 30 bps Source text for Eikon: Axis Bank, India's third largest private sector bank today announced a reduction in its home loan interest rates by 30 bps. Taking forward its commitment towards affordable housing finance, the bank has revised its rates for home loans up to Rs 30 lacs for the salaried segment to 8.35%, the lowest in the industry. The revised rate will be available with effect from May 16, 2017. Axis Ba