April 26, 2018 / 12:48 PM / 6 months ago

BRIEF-Axis Bank Says New Guidelines For Resolution Of Stressed Assets Drove Recognition In Restructured Book

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 Source text - bit.ly/2HwCjdg Further company coverage:

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