Axis Bank registers Q2 profit of Rs.790 crore

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Axis Bank, one of the largest private sector banks in the country posted a profit of Rs.790 crore for the second quarter of the year. This is an 83 per cent Y-o-Y increase in its profit, with the profit for Q2 of the previous year being Rs.432 crore.

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Axis Bank registered a profit of Rs.790 crore for the quarter ending September 2018

Net interest income increased from Rs.4,540 crore the previous year to Rs.5,232 crore, with the non-interest income for the period being Rs.2,542 crore.

Gross NPAs for the period stood at 5.96 per cent, down from 6.52 per cent in the previous quarter.

Income from fees stood at Rs.2,376 crore.

The bank also saw a 20 per cent increase in its retail loans, which grew to Rs.2,21,710 crore. SME loans stood at Rs.60,262 crore. Total advances increased 11 per cent to Rs.4,56,121 crore.

Sources: Economic Times, Livemint

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