Newspatrolling.com - newzopedia.com : “For the third quarter ended December 2017, Axis Bank reported a 25% rise in profits to Rs.726 crore largely helped by lower provisioning for bad loans in the quarter. The big positive for the bank was that the net interest income (NII) was up by 9.2% at Rs.4731 crore. The NII represents the core operations of the bank and is indicative of how the core banking function is doing. The big boost to profits came from a 26% fall in provisioning in the quarter.
In absolute terms, the Gross NPAs were up by 22% at Rs.25,000 crore. However, the gross NPAs in percentage terms fell from 5.90% to 5.28%. This is largely due to a much sharper growth in the loan book of the bank. The bank had a total exposure of Rs.6074 crore to IBC accounts and an exposure of Rs.5309 crore to RBI Watchlist accounts. Both are down by about 13% compared to the previous quarter.
The key take-away from the quarterly results was the 22% growth in advances, which shows a significant traction on lending, as against a 10% growth in deposits. There had been a cloud over the stock in the last few quarters due to NPA related problems. That appears to have bottomed out in this quarter.”
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