Axis Bank Ltd.’s net interest margin improved by 5 basis points QoQ to 4.06% on account of pricing improvements across the portfolio. Further, low yielding RIDF funds % of advances declined to lowest level to 1.5% supported the net interest margins. Credit growth declined to 14% YoY in line with guidance due to base impact. Management guided for 300-400 bps higher than industry average in medium to long term. Asset quality improved as gross non-performing asset stood at 1.43% versus 1.58% led by lower slippages. Net interest income grew by 4% QoQ backed by improvement in NIMs. Pre-provision operating proft grew by 15% QoQ due to higher other income. Provisions increased by 15% due to…
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Axis Bank Q4 Results Review
