Axis Bank Q2FY25: Operating Profit Up 24% YoY, PAT Up 18% YoY

Nagpur, October 2024: Axis Bank, one of the largest private sector banks in India, announced its Q2FY25 results today. The Bank’s core operating profit for the quarter grew 10% YOY to . The Bank has reported a net profit , as compared to  in Q2FY24 reporting a growth of 18% YOY.

The Bank’s Net Interest Income (NII) grew 9% YOY to Rs. 13,483 crores in Q2FY25 from in Q2FY24. Its Net Interest Margin (NIM) for Q2FY25 stood at 3.99%. CASA deposit grew up 4% YOY. CASA continues to be the best amongst large peer banks. The Bank’s operating revenue grew 16% YOY from  in Q2FY24 to Rs. 20,205 crores in Q2FY25. As of 30th September 2024, the Bank reported Gross NPA and Net NPA levels at 1.44% and 0.34% respectively against 1.73% and 0.36% on 30^th September 2023. The Bank’s Fee income for Q2FY25 grew 11% YOY to .

Retail fees grew 11% YOY & constituted 70% of the Bank’s total fee income. The overall capital adequacy ratio (CAR) stood at 16.61%, with a CET 1 ratio of 14.12%. The Bank issued  new credit cards in Q2FY25 and has been one of the highest credit card issuers in the country over last eleven quarters. The Bank continues to remain among the top players in the Retail Digital banking space. The Bank’s wealth management business is among the largest in India with assets under management (AUM) of as at end of 30th September 2024 that grew 36% YOY and 3% QOQ. Burgundy Private, the Bank’s proposition for high and ultra-high net worth clients, covers 12,591 families.

The AUM for Burgundy Private increased 28% YOY and 2% QOQ to Rs 2,13,125 crores. As on 30th September 2024, the Bank’s overall distribution network spans 5,577 domestic branches and extension counters and 14,728 ATMs and cash recyclers along with 182 Business Correspondent Banking Outlets (BCBOs) situated across 3,062 centres.

Amitabh Chaudhry, MD&CEO, Axis Bank said, “This quarter we balanced digital prowess and advancement with physical expansion and proximity to our customers. We have opened 150 new branches in the last three months, both urban and rural. The Bank strengthened its regional presence by laying the foundation for a new Corporate Office in Kolkata, which will be the hub for all activities in the Eastern region. We also expanded our private banking business ‘Burgundy Private’ network to 15 new cities, increasing its presence to 42 locations across India, offering bespoke wealth management services in India’s rapidly evolving Tier 2 markets.”