Axis Bank Ltd. share price target

Axis delivers decent growth, asset quality stable Axis Bank offers a wide range of banking services in India that includes cash and credit management services, retail banking, investment...

Fresh slippages fell to INR41.47b (v/s INR54.6b in 2QFY22), while higher recoveries and upgrades at IN32.88b and write-offs of INR17.07b enabled a 36bp/17bp QoQ decline in GNPA/NNPA ratio. Net NPA fell below 1% to 0.91%. We expect AXSB to deliver an FY24E RoA/RoE of 1.6%/16.1% in...

Improvement in all parameters

3QFY22 marks the manifestation of sequentially lower provisioning expenses (13bn v/s 17bn in the previous quarter) and 15% sequential increase in net profit at 36bn. The bank's reported slippages number were lower (41bn v/s 54bn in 2QFY22) as GNPA and NNPA ratio narrowed...

loan book were at Rs 3,332 crore and that from investment exposures stood at Rs 815 crore. Recoveries and upgrades from NPAs during the quarter were Rs 3288 crore while write-offs were Rs 1707 crore. Consequently, there were net slippages in NPAs (before write-offs) for the quarter of Rs 860 crore as compared to Rs 707 crore in Q2FY22 and Rs 5,831 crore in Q3FY21. Bank's provision coverage, as a proportion of Gross NPAs stood at 72%, as compared to 75%...

GNPA down 36 bps QoQ to 3.17%. R/s book steady at 0.63% What should investors do? Axis Bank's share price has given ~10% return in the past one year. This was post some correction in past few months. We believe its...

Asset quality stable; Recoveries at an all-time high Axis Bank offers a wide range of banking services in India that includes cash and credit management services, retail banking, investment management...

GNPA down 32 bps QoQ to 3.53%. R/S book up 31 bps at 0.64% What should investors do? Axis Bank's share price has given over 65% return in past one year. We believe the bank's healthy capitalisation and provision buffer...

Axis Bank (AXSB) delivered a weak operating performance in 2QFY22 that was characterized by margin weakness (7bp QoQ decline) and a muted trend in Core PPoP. However, lower provisions (INR17.3b) aided earnings which surpassed our estimate by 13%. Business growth was tepid and was pulled down by a 5% QoQ decline in corporate advances, while a strong sequential recovery was witnessed in SME/Retail loans. On the asset quality front, fresh slippages remained elevated at INR54.6b although higher upgrades/recovery of INR47.6b aided an improvement in...

Yet another muted quarter