Edition:
India

Axis Bank Ltd (AXBK.BO)

AXBK.BO on Bombay Stock Exchange

516.75INR
19 Jun 2018
Change (% chg)

Rs-5.30 (-1.02%)
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Latest Key Developments (Source: Significant Developments)

Axis Bank To Borrow/Raise Funds By Issue Of Debt Instruments Up To 350 Bln Rupees
Friday, 27 Apr 2018 

April 27 (Reuters) - Axis Bank Ltd ::SAYS AUTHORIZED BANK TO BORROW/RAISE FUNDS BY ISSUE OF DEBT INSTRUMENTS UPTO AMOUNT OF 350 BILLION RUPEES.  Full Article

Axis Bank Says New Guidelines For Resolution Of Stressed Assets Drove Recognition In Restructured Book
Thursday, 26 Apr 2018 

April 26 (Reuters) - Axis Bank Ltd ::SAYS "NPA RECOGNITION PHASE OF THIS CYCLE IS NEARLY COMPLETE".SAYS "NEW GUIDELINES FOR RESOLUTION OF STRESSED ASSETS DROVE RECOGNITION IN RESTRUCTURED BOOK".AXIS BANK - WITH SMALLER POOL OF POTENTIAL STRESS & HIGH PROVISION COVERAGE TO START 2019, CONTINUES TO EXPECT CREDIT COST NORMALIZATION IN H2 2019.AXIS BANK -AS ON MARCH 31, 2018 BANK’S PROVISION COVERAGE, AS A PROPORTION OF GROSS NPAS INCLUDING PRUDENTIAL WRITE-OFFS, STOOD AT 65 PERCENT.  Full Article

Axis Bank Commences Succession Process To Appoint New MD & CEO
Friday, 20 Apr 2018 

April 20 (Reuters) - Axis Bank Ltd ::SAYS COMMENCED SUCCESSION PROCESS TO APPOINT A NEW MANAGING DIRECTOR & CEO.AXIS BANK - APPOINTED EGON ZEHNDER, A GLOBAL LEADERSHIP ADVISORY FIRM, TO CONDUCT SUCCESSION PROCESS AND EVALUATE CANDIDATES FOR THE MD, CEO POSTS.AXIS BANK - BOARD WILL ENSURE THAT THE PROCESS WILL BE COMPLETED BEFORE END OF CURRENT MD, CEO SHIKHA SHARMA'S TENURE.  Full Article

India's Axis Bank Dec Qtr Profit Up 25 Pct
Monday, 22 Jan 2018 

Jan 22 (Reuters) - Axis Bank Ltd ::DEC QUARTER NET PROFIT 7.26 BILLION RUPEES VERSUS NET PROFIT OF 5.80 BILLION RUPEES LAST YEAR.CONSENSUS FORECAST FOR DEC QUARTER NET PROFIT WAS 7.98 BILLION RUPEES.DEC QUARTER INTEREST EARNED 117.22 BILLION RUPEES VERSUS 111.01 BILLION RUPEES LAST YEAR.DEC QUARTER PROVISIONS 28.11 BILLION RUPEES VERSUS 37.96 BILLION RUPEES LAST YEAR.DEC QUARTER GROSS NPA 5.28 PERCENT VERSUS 5.90 PERCENT PREVIOUS QUARTER.DEC QUARTER NET NPA 2.56 PERCENT VERSUS 3.12 PERCENT PREVIOUS QUARTER.DEC QUARTER NIM 3.38 PERCENT.SAYS DURING Q3, BANK RECOVERED SUBSTANTIAL AMOUNT IN CASH FROM IT/ITES ACCOUNT AND UPGRADED ONE ACCOUNT IN STEEL SECTOR.SAYS CONTINUE TO RETAIN CREDIT COST GUIDANCE FOR FISCAL 2018 IN RANGE OF 220-260 BASIS POINTS.SAYS PCR EXPECTED TO BE MAINTAINED IN 60 PERCENT TO 65 PERCENT RANGE IN FISCAL 2018.SLIPPAGES HAVE MODERATED FROM THE HIGH LEVELS IN Q2.SAYS DURING QUARTER, CORPORATE SLIPPAGES STOOD AT 29.80 BILLION RUPEES AND 93 PERCENT OF IT CAME FROM LOW RATED BB & BELOW ACCOUNTS.AS ON DEC 31, PROVISION COVERAGE RATIO OF INSOLVENCY BANKRUPTCY ACCOUNTS INCREASED TO 68 PERCENT.  Full Article

Axis Bank Says News Item On Co ‍Seeking Bids For Controlling Stake In GMR Chhattisgarh​ is Factually Incorrect
Friday, 29 Dec 2017 

Dec 29 (Reuters) - Axis Bank Ltd ::AXIS BANK CLARIFIES ON NEWS ITEM ON CO ‍SEEKING BIDS FOR CONTROLLING STAKE IN GMR CHHATTISGARH​.SAYS NEWS ITEM IS FACTUALLY INCORRECT.  Full Article

Axis Bank Sept-qtr profit rises about 36 pct
Tuesday, 17 Oct 2017 

Oct 17 (Reuters) - Axis Bank Ltd :Sept quarter net NPA 3.12 percent versus 2.30 percent previous quarter.Sept quarter net profit 4.32 billion rupees versus net profit of 3.19 billion rupees last year.Sept quarter interest earned 112.35 billion rupees versus 111.59 billion rupees last year.Sept quarter provisions 31.40 billion rupees versus 36.23 billion rupees last year.Sept quarter gross NPA 5.90 percent versus 5.03 percent previous quarter.Sept quarter domestic NIM 3.71 percent.Sept quarter global NIM 3.45 percent.Says contribution of watch list to slippages has decreased in recent quarters‍​.Says slippages are predominantly from the ‘bb and below’ pool.Says Q2 watchlist outstanding at 60.52 billion rupees‍​.  Full Article

India's Axis Bank exec: expect provision coverage ratio to be between 60-65 pct
Tuesday, 17 Oct 2017 

Oct 17 (Reuters) - India's Axis Bank chief financial officer Jairam Sridharan says::Expect provision coverage ratio between 60-65 percent.Continue to expect normalisation of credit costs in second half of 2017/18.Provided 38 billion rupees so far for bankruptcy accounts versus 70 billion rupees exposure.Trading income contributed to the fall in operating profit.  Full Article

India's Axis Bank Sept-qtr profit up about 36 pct
Tuesday, 17 Oct 2017 

Oct 17 (Reuters) - Axis Bank Ltd :Sept quarter net profit 4.32 billion rupees versus net profit of 3.19 billion rupees last year.Sept quarter interest earned 112.35 billion rupees versus 111.59 billion rupees last year.Sept quarter provisions 31.40 billion rupees versus 36.23 billion rupees last year.Sept quarter gross NPA 5.90 percent versus 5.03 percent previous quarter.Sept quarter gross NPA 3.12 percent versus 2.30 percent previous quarter.Sept quarter domestic NIM 3.71 percent.Sept quarter global NIM 3.45 percent.Says contribution of watch list to slippages has decreased in recent quarters‍​.Says slippages are predominantly from the ‘bb and below’ pool.  Full Article

Axis Bank sees FY18 credit cost at between 175 bps and 225 bps
Wednesday, 26 Apr 2017 

April 26 (Reuters) - Axis Bank Ltd ::Exec says "worst is behind us".Exec says doesn't intend to continue with "watch list" construct beyond FY18.Exec says sold 18 billion rupees worth loans to asset reconstruction co in Q4.Exec says "sees FY18 credit cost at between 175 bps and 225 bps".Exec says have "very limited" exposure to telecom sector.Exec says "expects FY18 loan growth to be 5 percentage point higher than banking sector credit growth".  Full Article

Axis Bank March-qtr profit down about 43 pct
Wednesday, 26 Apr 2017 

April 26 (Reuters) - Axis Bank Ltd :March quarter net profit 12.25 billion rupees .Says recommended dividend of INR 5 per share.March quarter interest earned 111.68 billion rupees versus 108.99 billion rupees year ago.March quarter provisions 25.81 billion rupees versus 11.68 billion rupees year ago.March quarter gross NPA 5.04 percent versus 5.22 percent previous quarter.March quarter net NPA 2.11 percent versus 2.18 percent previous quarter.Consensus forecast for march quarter net profit was 9.51 billion rupees.As on 31st march 2017, fund based outstanding on the bank’s watch list reduced 15% over the previous quarter and stood at 94.36 billion rupees.Watch list has reduced to 2.2% of customer assets in march 2017, from 2.8% of customer assets in december 2016 and 6.2% as on 31st March 2016.Says qtrly provision coverage ratio (PCR) improved to 65% from 64% QOQ.On a cumulative basis for the year ended 31st march 2017, 84% of corporate slippages originated from the watch list.March quarter NIM 3.83 percent.During quarter, reduction in watch list primarily represents slippages to NPAs worth INR 35.66 billion, which comprises 83% of total corporate credit slippages..March quarter net profit last year was 21.54 billion rupees.The profit alert was first sourced from TV and later confirmed from a press release off the NSE.  Full Article

TABLE-India Certificates of Deposit deals on F-TRAC-Jun 19

Jun 19 Following are the details of deals in Indian Certificates of Deposit reported on Clearcorp F-TRAC Platform. ISIN DESCRIPTION MATURITY WTG AVG WTG AVG NO OF TRADED LAST TRADED DATE PRICE YLD% TRADES VALUE* PRICE YIELD ============ ============ ======== ======= ======= ====== ===== =============== INE092T16BF4 IDFC BK 20-Jun-18 99.9826 6.3521 1 125 99