Axis Bank Ltd (AXBK.NS)
MUMBAI Axis Bank reported a smaller-than-expected 16 percent drop in quarterly profit on Tuesday and said it was making progress on containing bad loans.
* Sees provisioning costs falling sharply in 2018/19 (Adds comments from CFO, details)
July 25 Axis Bank, India's third-biggest private sector lender by assets, reported a smaller-than-expected fall in first-quarter net profit as its bad loan additions slowed.
* June quarter net profit 13.06 billion rupees versus net profit of 15.56 billion rupees year ago
* Collaboration with Inter-American Investment Corporation (IIC) to facilitate trade with Latin America and Caribbean Source text: [Axis Bank, India's third largest private bank announced its collaboration with Inter-American Investment Corporation (IIC) to facilitate trade with Latin America and the Caribbean. Axis Bank is the first Indian Bank to participate in the Trade Finance Facilitation Program(TFFP) as a confirming bank.] Further company coverage:
* Seeks members' nod for raising funds worth upto INR 350 billion Source text - (http://bit.ly/2sHvAVG) Further company coverage:
* Seeks members' nod for issue of securities for up to 350 billion rupees on private placement basis Source text for Eikon: Further company coverage:
* Says proposes to raise funds by issuing NCDs worth 35 billion rupees Source text for Eikon: Further company coverage:
* Says signed an agreement for sale of 1,90,500 equity shares of mswipe technologies
* Says sets overnight MCLR at 7.80 percent effective from June 17 Source text: (http://bit.ly/2rDNesT) Further company coverage: