Axis Bank Ltd (AXBK.NS)
22 Feb 2018
* SAYS BANK, THROUGH OVERSEAS BRANCHES, UNDERTAKES TRANSACTIONS AGAINST LETTERS OF UNDERTAKINGS ISSUED BY OTHER BANKS
* SAYS AGREEMENT FOR SALE OF 2 MILLION SHARES OF NATIONAL SECURITIES DEPOSITORY FOR TOTAL CASH CONSIDERATION OF 1.65 BILLION RUPEES Source text - http://bit.ly/2BLJIpS Further company coverage:
Axis Bank Ltd, India's third-biggest private sector lender by assets, reported a 25 percent rise in quarterly net profit on higher interest and fee incomes as well as a sharp slowdown in bad loan additions.
* Q3 gross bad loan adds at 44.28 bln rupees vs 89.36 bln in Q2
* DEC QUARTER NET PROFIT 7.26 BILLION RUPEES VERSUS NET PROFIT OF 5.80 BILLION RUPEES LAST YEAR
Jan 22 India's Axis Bank Ltd posted a 25 percent rise in quarterly net profit, helped by higher interest and fee incomes as well as a drop in provisions for bad loans, although results fell slightly short of a consensus estimate.
BRIEF-Axis Bank Says News On Co Looking At Options In Life Insurance Business Is 'Factually Incorrect'
* CLARIFIES ON NEWS ITEM REGARDING STRATEGIC OPTIONS FOR CO IN LIFE INSURANCE BUSINESS
* KEEPS 1-YEAR MCLR UNCHANGED AT 8.25 PERCENT Source text: (http://bit.ly/2jUMgrh) Further company coverage:
* SAYS TO AVAIL TERM LOAN FACILITY WORTH 4 BILLION RUPEES FROM AXIS BANK LTD