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Axis Bank announces fincial results

Sentinel Digital DeskBy : Sentinel Digital Desk

  |  30 Oct 2015 12:00 AM GMT

Guwahati, October 29: The Board of Directors of Axis Bank Limited approved the fincial results for the quarter and half-year end September 30 at its meeting held in Mumbai on Tuesday. The results have been subjected to a Limited Review by the Bank’s Statutory Auditors.

The Bank showed healthy fincial performance in terms of growth in core revenues for the quarter and half-year end September 30. The Bank’s Core Operating Revenue for Q2FY16 and H1FY16 grew by 15% YOY and 17% YOY to ‘5,936 crores & ‘11,644 crores respectively.

The key driver to the growth in fee income was Retail Banking, which grew by 19% YOY and constituted 40% of the Bank’s total fee income. Transaction Banking fees grew 14% YOY and constituted 19% of the total fee income. Treasury & DCM fee performance was robust and grew 47% YOY to constitute 10% of the total fee income of the Bank. During H1FY16, fee income grew 13% YOY primarily driven by 18% YOY growth in retail fee and 50% YOY growth in Treasury & DCM.

The Bank’s Balance Sheet grew 20% YOY and stood at ‘4,72,725 crores as on September 30. The Bank’s Advances grew 23% YOY to ‘2,98,066 crores as on September 30. Retail Advances grew 27% YOY and stood at ‘1,19,448 crores and accounted for 40% of the Net Advances of the Bank. If we were to include SME loans that qualify as regulatory retail, the share of retail loans to total loans would be 45%. Corporate credit grew 25% YOY and stood at ‘1,38,549 crores; and accounted for 47% of Net Advances. SME Advances (excluding non-retail agriculture segment) grew by 11% YOY and stood at ‘39,702 crores. This was stated in a press release.

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