Axis Bank Q3 Review – Asset Quality Outlook Improving; Earnings Set To Gain Momentum: Motilal Oswal

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Axis Bank Ltd. reported weak earnings, with profit after tax impacted by lower income and higher opex, while provisions remained elevated.

Net interest income income was impacted due to the reversal of proforma slippages.

On the business front, retail disbursements were strong QoQ, while disbursements under the Emergency Credit Line Guarantee Scheme supported growth in the small and medium enterprise book.

The bank holds cumulative additional provisions of Rs 119 billion (approximately 2% of loans).

Overall, the bank has approved total restructuring of ~0.42% of loans and does not intend to provide any fresh approvals.

Click on the attachment to read the full report:

Motilal Oswal Axis Bak Q3FY21 Result Update.pdf

DISCLAIMER

This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Exit mobile version