Axis Bank Q2 FY25 Results: Net Profit Up 18%, Operating Profit Rises 24%
In terms of deposits, Axis Bank reported a 14% YOY increase, with term deposits soaring by 21% YOY. Current Account Savings Account (CASA) deposits saw a more modest growth of 4% YOY.
Axis Bank announced its Q2 FY25 financial results on October 17, delivering a strong performance across key metrics. Here are the highlights of the quarterly results:
Key Financial Highlights:
- Net Profit: ₹6,918 crore, marking an 18% YoY growth.
- Operating Profit: ₹10,356 crore, reflecting a 24% YoY increase.
- Net Interest Income (NII): ₹12,234 crore, up 9% YoY.
- Net Interest Margin (NIM): Stood at 3.99%.
- Fee Income: Increased by 11% YoY, with retail fees contributing significantly.
Deposit and Advances Growth:
- Total Deposits: Grew by 14% YoY, led by term deposits surging by 21% YoY.
- CASA Deposits: Achieved modest growth of 4% YoY.
- Net Advances: Increased by 11% YoY, driven by 15% growth in retail loans and 16% growth in SME loans. Corporate loans rose by 6% YoY.
Asset Quality:
- Gross NPA (GNPA): Improved, dropping by 29 bps YoY to 1.44%.
- Net NPA (NNPA): Declined slightly to 0.34%.
Capital Adequacy:
- Capital Adequacy Ratio (CAR): Stood at 16.61%, with a CET-1 ratio of 14.12%.
Strategic Expansions and Achievements:
- UPI Leadership: Axis Bank achieved the number one position in the UPI Payer Payment Service Provider (PSP) market, with a 31% market share.
- Branch Network Expansion: Opened 150 new branches across urban and rural areas.
- Private Banking Expansion: Expanded its "Burgundy Private" services to 15 new cities, strengthening its footprint in Tier 2 markets.
Amitabh Chaudhry, MD and CEO of Axis Bank, emphasized the bank's dual focus on digital transformation and physical expansion, highlighting the launch of a new Corporate Office in Kolkata to enhance regional operations.
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