The 43 reports from 15 analysts offering long term price targets
for Axis Bank Ltd. have an average target of 545.46. The consensus estimate
represents an upside of 10.75%
from the last price of 492.50.
Credit growth was at 10.5%YoY with retail and corporate segment growing 12% YoY while SME book fell 1% YoY. The bank has been taking a cautious approach in lending towards commercial banking and SME segment while focusing on secured retail loans and highly rated corporates. Over the medium term, the bank expects loan growth to be 500-600 bps higher than the industry growth. Total 80% of retail loans is secured while 82% of incremental loan to corporate are to A- and above category. Deposits grew 8.8% YoY driven by 17% YoY rise in CASA deposit....
Axis Bank (ABL) has reported PAT of Rs16.8bn for 2QFY21 compared to a loss in 2QFY20. On QoQ basis, the PAT grew by 51.3%. The earnings were strong despite the bank continuing with elevated provisioning (up 30.2% YoY, 3.7% QoQ), mainly led by NII growth of 20.1% YoY (4.9% QoQ) and a strong recovery in non-interest income. NIM expanded by 8bps YoY and 13bps QoQ to 3.7% on account of multiple reasons (interest reversal, capital raising, spread). Fee income grew by 67% YoY and 4% QoQ (retail up 82% QoQ). Advances growth stood at 10.5% YoY and 2.7% QoQ, led by 11.9% YoY growth in the retail portfolio and 12.4% growth in the corporate portfolio. In light of the current situation, the management has refrained from giving any...
Digital channels has served the customers well during COVID period with activity and transaction volumes on digital channels now back to pre-COVID levels after an initial dip in April and May....
Axis Bank continued with its change in accounting policy in Q1FY21 in terms of fee recognition on letter of credit (LC) and annual fees on debit cards to amortisation over its life from upfront.
Axis Bank (ABL) has reported 1QFY21 results with the key pointers being: (1) Advances grew 13% YoY/declined 2% QoQ (2) GNPAs/NNPAs were lower by 14bps/33bps QoQ at 4.72%/2.23% (3) Domestic NIM declined by 15bps QoQ/flat YoY at 3.40% (4) Deposits grew by 16% YoY at Rs6,282bn (See comprehensive conference call takeaways on page 2 for significant incremental colour). Per se, on the key P&L; items, NII grew by 20% YoY at Rs69,853mn (1% below estimate), PPOP declined by 1% YoY at Rs 58,444mn (3% below estimate) and PAT declined by 19% YoY at...
Continues accelerated provisioning for challenges ahead, above estimates Axis Bank has posted 19% decline in the net profit to Rs 1112.17 crore in the quarter ended June 2020 driven by sharp decline in the non-interest income and increase in provisions. However, the bank has recorded strong 20% surge in the Net Interest Income in Q1FY21 while the bank also improved cost to assets ratio by 8 bps qoq to 2.00% The business growth of the bank was stable with 19% growth in deposits, while the loan book...
Despite weaker other income, PPoP growth was better than expected aided by higher NII growth at 20% YoY and decline in opex. Though slippages were low at 1.6% owing to moratorium, higher credit costs at 250 bps was mainly led by rise in PCR to 75% (from 69%) and incremental provisions of ~90% on net slippages. Apart from weak loan originations, fee income was also impacted by...
Axis bank's earnings of Rs11.1bn was inline (PLe:10.9bn) mainly driven by NII growth of 19.5% YoY and relatively lower provisioning. Important data point to note was trackable moratorium book was only 9% of loans v/s 2528% in last quarter with basic difference that morat 2.0 was on selected basis v/s opt out in most business segments. Bank has collected for 80% of customer from morat 1.0 which is basically on June dues as Mar-May have been adjusted in respective tenures, while the rest 20% are being collected or will move according to dpd. Tail risks are high from Morat 2.0, few collections from morat 1.0 and those have been given adjustments in tenure...
PAT would have been 12% and 240% higher than our estimate.Conservatismwasalsoreflectedinthebankadding Rs7.3bn to its contingent provisions balance which now...
Axis Bank posted strong numbers for Q1FY2020. While operating results were better than expectations, and moratorium book declined on a sequential basis, adopting a conservative provision policy and slow growth on business impacted the fee income. Notably, the moratorium book has declined to 9.7% from ~26% earlier, which is a clear positive. Net interest income (NII) increased by 19.5% y-o-y to Rs. 6,985 crore (better than expectations), while non-interest income decreased by 33% y-o-y to Rs. 2587 crore (lower growth, waiver of charges etc). Retail fees constituted 57% of the total fee income. Net interest margin declined to...
21 July 2020 Axis Bank (AXSB) reported in-line 1QFY21 earnings led by strong NII growth, controlled opex and sequential decline in provisions. Even PCR improved 580bp QoQ to 75%. Outstanding funded BB & below pool declined slightly to INR64.2b while moratorium book plummeted to 9.7%, which eased concerns on the asset quality outlook. We have increased our FY21/FY22E estimates by 12%/10% after factoring in higher NII growth and controlled opex, even as we lowered our fee income projections. 1QFY21 PAT of INR11.1b (in-line) was led by strong NII growth and sequential decline in provisions. NII grew 20% YoY (+3% QoQ) to INR69.9b while margins declined 15bp QoQ to 3.4%, impacted by high liquidity and prudent stance on recognizing interest income in the moratorium book. Other income declined 33% YoY (38% YoY decline in fee income). However, this was offset by 25% QoQ decline in opex.
AXSB: Capital raising to fortify balance sheet. Automobiles: Jun'20 Auto Sales Tractors continue to outshine other segments. Oil & Gas: V-shaped recovery in LNG imports
Axis Bank's (AXSB) board today approved a proposal to raise funds not exceeding Rs 150bn this is equivalent to 12.5% of current market capital and 17.6% of Mar'20 net worth.
Axis Bank is the third largest private sector bank in India. The Bank offers the entire spectrum of financial services to customer segments covering Large and Mid-Corporates, MSME, Agriculture and Retail Businesses. Due to huge fall in markets , we are revising our price target given in result...
The bank has posted healthy 19% improvement in the Net Interest Income to Rs 6808 crore in Q4FY20 with healthy margins at 3.55%. The operating profit grew by 23% to Rs 23438 crore for FY20 with 16% growth in the NII to Rs 25206 crore. NIM for FY20 was 3.51%. The net profit was Rs 1627 crore for FY20. Adjusted for the one-offs, net profit for FY20 would have been Rs 5182 crore, showing an increase of 11%. On business front, the bank has recorded 19% growth in the deposits on quarterly average balance (QAB) basis, with 13% growth in saving deposits and 11% in current account deposits. Further, the Retail Term Deposits (RTD) were up 33% on QAB basis. CASA ratio was 39% on...
