HT Bureau
Guwahati, Oct 21: Axis Bank announced its Q2FY23 results on Friday, reporting a net profit of Rs 5330 crore, as compared to Rs 3133 crore in Q2FY22. The Bank’s Net Interest Income (NII) grew 31% Y-o-Y and 10% Q-on-Q to Rs 10360 crore in Q2FY23 from Rs 9384 crore in Q2FY22.
Its Net interest margin (NIM) for Q2FY23 stood at 3.96%, which is grown by 57 bps Y-o-Y and 36 bps Q-o-Q. On a QAB basis, CASA grew up 13% Y-o-Y and 2% Q-o-Q, whereas the CASA ratio stood at 46% which is up by 172 bps Y-o-Y. The bank’s operating revenue reflects a 22% growth from Rs 11699 crore in Q2FY22 to Rs 14301 crore in Q2FY23.
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Amitabh Chaudhry, MD&CEO, Axis Bank said, “Over the past 12 months, we have made significant strides across every identified priority area. The focus on customer obsession and digitisation has got our acquisition engine humming. The core operating profits and margins have grown on the back of strong performance across business segments.
We are building a high-quality, granular franchise with the customer at the center while extending our network and services to semi-urban and rural geographies to tap into the Bharat opportunity. We are excited about the future of Axis Bank.”
