Axis Bank Ltd. share price target

Axis Bank has come out with a mixed set of numbers for 4QFY2016. The NII grew 19.8% yoy to Rs4,553cr, in line with our expectations. However, higher than expected provision led to a 1.2% decline in PAT to Rs2,154cr. Advances growth remains healthy; During 4QFY2016, the bank reported an advance growth of 21.0% yoy, while deposits grew by 1..

AXSB reported a healthy 4QFY16 led by lower slippages, CASA accretion, uptick in margins and strong loan growth. But the bank is not out of the woods, as the management guided for elevated stress in FY17/18E. Making additional disclosures, AXSB quantified the corporate stressed book at Rs 226.3bn (6.7% of loans). The bank expects 60% of these to flow into NPAs in the next eight quarters.

Axis Bank's (AXSB) 4QFY16 PAT at INR21.5b was flat QoQ and YoY basis (9% miss). While reported PPoP of INR44b (+23% YoY, 12% QoQ) was inline, higher than expected provisions led to PBT miss of 9%. With the benefit of...

ICICI Securities Ltd | Retail Equity Research Headline asset quality numbers like GNPA ratio remained stable QoQ at 1.67% to | 6088 crore, with fresh accretion easing at | 1474 crore...

8 Despite strong NII growth (20% yoy), operating performance moderated due to weak growthinnoninterestincome(corefeeincomegrew6%yoy),whileprofitmissedour estimatesduetocreationoncontingentprovisiononloans....

UTI Bank, promoted in 1994, is a new generation and third largest private sector bank. Loan book mix consists of Corporates 46%, Retail & Agri 41%, SME-13%. Fee Income accounts for ~31% of Operating Revenue. For 4QFY16 CAR 15.09%, Tier I - 12.07%, ROE 18.57%, RoA - 1.8%, Cost / Inc 39%. Axis Bank has built a reasonable retail infrastructure, with 2904 branches, 12,743 ATMs in 1855 centres with a wide product range. The bank is poised to...

Weakening assets quality outlook; downgrade to Hold We continue to admire core operating performance and business franchise of Axis Bank but near term headwinds clearly indicate underperformance by the bank among its peers. Additional disclosure on watch list accounts indicates tough time ahead for the bank on assets quality front. Our calculation indicates that the banks will witness substantial increase in fresh loan impairment along with further surge in credit cost. Factoring the same, we have downgraded adjusted book value estimates by 5.1% for FY17E and 5.3% for FY18E. Hence, we cut our price assumptions for Axis Bank and expect better entry level for the...

Axis Bank reported a positive set of numbers on the operating front for 3QFY2016 with PAT growing by 14.5% yoy to Rs2,175.3cr surpassing street as well as our expectations. Asset quality deteriorated with surge in gross and net NPA ratios to 1.68% and 0.75% from 1.38% and 0.48% sequentially. Slippages at elevated levels; Advances growth remains healthy During 3QFY2016, the bank reported an advance growth of 21.0% yoy, while deposits grew by 16.2% yoy. The retail book grew by 26.8% yoy and accounted for 40% of the advances. Overall, for the current financial year, the bank expects credit growth to be of around 20%. The CASA ratio came in at 43.2%, declining by 100bp qoq, while it improved by 12bp on a yoy basis. The NIM declined by 6bp qoq and stood at 3.79% in spite of the cost of funds falling by 13bp qoq to 5.86%. The sequential decline of 13bp in the banks cost of funds is primarily driven by moderation in the cost of term deposits and further aided by the banks continued focus on CASA. Asset quality deteriorated with surge in Gross and Net NPA ratios to 1.68% and 0.75% from 1.38% and 0.48% in the...

Bank, promoted in 1994, is a new generation and third largest private sector bank. Loan book mix consists of Corporates 46%, Retail & Agri 40%, SME-14%. Fee Income accounts for ~31% of Total Income. For FY 2QFY16 CAR 15.1%, Tier I - 12.4%, ROE 17.9%, RoA - 1.7%, Cost / Inc 40.2%. Axis Bank has built a reasonable retail infrastructure, with 2589 branches, 12,355 ATMs in 1113 cities & towns and a...

Axis Bank (AXSB) witnessed pressure on asset quality as it fully recognised the impact of asset re-classification, as per RBI?s directives. G/NNPAs bumped up, but only ~30/27bps QoQ to ~1.7/0.75%. Half the slippages (Rs 20.8bn, 2.7% ann.) owed to the regulators directive. AXSB refinanced four ACs of Rs 16bn under 5:25 and implemented SDR of Rs 5bn.