HT Bureau
GUWAHATI, April 29: Axis bank has announced the Q4FY22 result with a net profit of 4118 crores, up 54% Year-over-Year (YoY). The Bank’s operating profit for the quarter grew 13% YoY to 6466 crores. Net profit grew 54% from 2677 crores in Q4FY21 to 4118 crores in Q4FY22. The Bank’s Net Interest Income (NII) grew 17% YoY to 8819 crores. Overall, non-interest income for Q4FY22 stood at 4223 crores, up 19% YoY. Net Interest Income for FY22 grew 13% YoY to 33132 crores from 29239 crores. Fee income grew 22% YoY to 13001 crores. Operating profit grew by 7% to 24742 crores from 23128 crores in FY21. The Bank’s balance sheet grew 19% YoY and stood at 1175178 crores as of March 31, 2022. The total deposits grew by 19% YoY on a quarterly average balance (QAB) basis and 18% YoY on a period-end basis.
As of March 31, 2022, the Bank had a network of 4758 domestic branches and extension counters situated in 2702 centers compared to 4594 domestic branches and extension counters situated in 2596 centers as at end of March 31, 2021.
Amitabh Chaudhry, MD&CEO, Axis Bank said, “We have made steady progress across all dimensions of our business. Considerable work has gone into strengthening our core, building granularity while at the same time ensuring that we are well-positioned to grow and leverage the opportunities opening up, hopefully with the pandemic behind us. The Citi deal is one of its kind and should pivot us into a premium franchise in line with our strategic objectives. With smart products, services, partnerships, and talent on our site, we look forward to further building on our performance in the new financial year.”
