Mumbai: Axis Bank has posted a net profit of Rs 5,864 crore for the September quarter — an increase of 10% over Rs 5,330 crore reported in the year-ago period. The increase in net profit comes on the back of a 19% rise in net interest income to Rs 12,315 crore, as compared to the previous year.
Deposits of the bank rose 17.8% to Rs 9.6 lakh crore at the end of September, from Rs 8.1 lakh crore a year ago.The bank’s advances grew 23% year-on-year to almost Rs 9 lakh crore. Retail loans accounted for 58% of the net advances of the bank. During the quarter, the bank added 207 branches.
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Deposits of the bank rose 17.8% to Rs 9.6 lakh crore at the end of September, from Rs 8.1 lakh crore a year ago.The bank’s advances grew 23% year-on-year to almost Rs 9 lakh crore. Retail loans accounted for 58% of the net advances of the bank. During the quarter, the bank added 207 branches.
We also published the following articles recently
Axis Bank’s September quarter profit rises 10% to RS 5,864 crore
Axis Bank has reported a net profit of Rs 5,864 crore for the September quarter, marking a 10% increase from the previous year. This growth is attributed to a 19% rise in net interest income to Rs 12,315 crore. Additionally, the bank’s deposits increased by 17.8% to Rs 9.6 lakh crore, and advances grew by 23% to nearly Rs 9 lakh crore. The bank also added 207 branches during this period.
Axis Bank has reported a net profit of Rs 5,864 crore for the September quarter, marking a 10% increase from the previous year. This growth is attributed to a 19% rise in net interest income to Rs 12,315 crore. Additionally, the bank’s deposits increased by 17.8% to Rs 9.6 lakh crore, and advances grew by 23% to nearly Rs 9 lakh crore. The bank also added 207 branches during this period.
At Rs 10,261 crore ICICI bank quarter 2 net profit up 35%
ICICI Bank has announced a net profit of Rs 10,261 crore for the quarter ending September 2023, marking a 35.8% increase compared to the same period last year. The growth in profit was attributed to business expansion, higher margins, and a decrease in non-performing loans. Additionally, the bank’s deposits grew by 18.8% YoY to Rs 12.9 lakh crore, and its domestic loan book increased by 19.3% YoY to Rs 10.7 lakh crore.
ICICI Bank has announced a net profit of Rs 10,261 crore for the quarter ending September 2023, marking a 35.8% increase compared to the same period last year. The growth in profit was attributed to business expansion, higher margins, and a decrease in non-performing loans. Additionally, the bank’s deposits grew by 18.8% YoY to Rs 12.9 lakh crore, and its domestic loan book increased by 19.3% YoY to Rs 10.7 lakh crore.
RBL Bank Q2 net profit jumps 46 percent to Rs 294 crore
RBL Bank has reported a 46% increase in its net profit for the September quarter, reaching INR 294 crore. The rise was attributed to margin expansion and strong core income growth. The bank’s net interest income grew by 26%, driven by a 21% increase in advances and a wider net interest margin. Other income also rose by 21% during the quarter. RBL Bank aims to grow both advances and deposits by 20% during the fiscal year. The bank’s gross non-performing assets ratio improved to 3.12%.
RBL Bank has reported a 46% increase in its net profit for the September quarter, reaching INR 294 crore. The rise was attributed to margin expansion and strong core income growth. The bank’s net interest income grew by 26%, driven by a 21% increase in advances and a wider net interest margin. Other income also rose by 21% during the quarter. RBL Bank aims to grow both advances and deposits by 20% during the fiscal year. The bank’s gross non-performing assets ratio improved to 3.12%.
