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Axis Bank announced Q1FY25 results:
- Net Interest Income grew 12% YoY and 3% QoQ
- Fee income grew 16% YoY, Retail fee grew 18% YoY, granular fees at 93% of total fees
- Operating cost growth moderated to 11% YoY and declined sequentially, PAT at Rs 6,035 crore up 4% YoY
- On a QAB, total deposits grew 14% | 3%, term deposits grew 21% | 4%, CASA grew 4%| 3% on YoY | QoQ basis, respectively
- Total advances grew 14% YoY, Retail loans grew 18% YoY, SME grew 20% YoY, Corporate loans grew 6% YoY
- Overall CAR stood at 16.65% with CET 1 ratio of 14.06%, net accretion to CET-1 of 32 bps in Q1FY25
- GNPA% at 1.54% declined by 42 bps YoY, NNPA% at 0.34% declined by 7 bps YoY
- ~1 million credit cards issued in Q1, CIF market share of ~14%, card spends up ~12% YoY
- Largest player in Merchant Acquiring with market share of 21%, incremental share of 45% in last one year4
- Citi integration completed successfully in July 2024
Amitabh Chaudhry, MD&CEO, Axis Bank said, ‘The last quarter was crucial in terms of getting all the teams to work together for the last leg of Citi integration. I am delighted that the integration is done and it was largely seamless given the size and scale of the transition. I am thankful to the teams who worked tirelessly in making this possible, and to our 2 million new customers for keeping their trust and faith in us.
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