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Axis Bank Ltd (AXBK.BO)

AXBK.BO on Bombay Stock Exchange

520.35INR
23 May 2018
Change (% chg)

Rs-2.95 (-0.56%)
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Rs523.30
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Volume
139,913
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476,538
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Rs627.50
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Rs447.80

Latest Key Developments (Source: Significant Developments)

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

India's Axis Bank Posts March Qtr Loss
Thursday, 26 Apr 2018 

April 26 (Reuters) - Axis Bank Ltd ::MARCH QUARTER NET LOSS 21.89 BILLION RUPEES VERSUS NET PROFIT OF 12.25 BILLION RUPEES LAST YEAR.MARCH QUARTER INTEREST EARNED 117.71 BILLION RUPEES VERSUS 111.68 BILLION RUPEES LAST YEAR.SAYS NO DIVIDEND HAS BEEN RECOMMENDED BY BOARD FOR YEAR ENDED MARCH 31.MARCH QUARTER PROVISIONS 71.80 BILLION RUPEES VERSUS 25.81 BILLION RUPEES LAST YEAR.MARCH QUARTER GROSS NPA 6.77 PERCENT VERSUS 5.28 PERCENT PREVIOUS QUARTER.SAYS SLIPPAGES FOR Q4FY18 STOOD AT 165.36 BILLION RUPEES.MARCH QUARTER NET NPA 3.40 PERCENT VERSUS 2.56 PERCENT PREVIOUS QUARTER.MARCH QUARTER NIM 3.33 PERCENT.CONSENSUS FORECAST FOR MARCH QUARTER NET PROFIT WAS 5.14 BILLION RUPEES.SAYS Q4 WATCH LIST DECLINED 92 PERCENT OVER PREVIOUS QUARTER AND STOOD AT 4.28 BILLION RUPEES.  Full Article

Religare Enterprises Says Tribunal Directs Co, Units To File Affidavit In Proceedings W.R.T. Axis Bank Application
Tuesday, 3 Apr 2018 

April 3 (Reuters) - Religare Enterprises ::DEBT RECOVERY TRIBUNAL II DIRECTED CO, UNITS TO FILE AFFIDAVIT OF ASSETS IN PROCEEDINGS W.R.T. APPLICATION FILED BY AXIS BANK.RELIGARE ENTERPRISES SAYS DEFENDANTS RESTRAINED FROM ENTERING INTO SETTLEMENT WITH THEIR CREDITORS WITHOUT APPROVAL OF DEBT RECOVERY TRIBUNAL.RELIGARE ENTERPRISES SAYS DEFENDANTS ALSO RESTRAINED FROM ALIENATING CERTAIN ASSETS SET OUT IN ORIGINAL APPLICATION.  Full Article

Axis Bank Has 92.22 Bln Rupees Of Non Fund Based Exposure To Telecom Sector As Of Dec. 31, 2017
Wednesday, 21 Mar 2018 

March 21 (Reuters) - Axis Bank Ltd ::CLARIFIES ON REPORTS REFERRING TO BANK GUARANTEE ISSUED TO CERTAIN TELECOM COMPANIES.SAYS "THE ‍SAID BANK GUARANTEE HAS BEEN ISSUED BY BANK ON BEHALF OF BHARTI AIRTEL LIMITED.".SAYS BANK "HAS NO EXPOSURE TO AIRCEL".HAS 92.22 BILLION RUPEES OF NON FUND BASED EXPOSURE TO TELECOM SECTOR AS OF DEC. 31, 2017.SAYS ‍HAS BEEN INFORMED THAT TELECOM DISPUTES SETTLEMENT AND APPELLATE TRIBUNAL​ ORDER IS OPERATIVE.  Full Article

Axis Bank Says Co Sold All Transactions With PNB Against Authenticated SWIFT LOUs
Thursday, 15 Feb 2018 

Feb 15 (Reuters) - Axis Bank Ltd ::SAYS BANK, THROUGH OVERSEAS BRANCHES, UNDERTAKES TRANSACTIONS AGAINST LETTERS OF UNDERTAKINGS ISSUED BY OTHER BANKS.SAYS BANK HAS UNDERTAKEN SUCH TRANSACTIONS WITH PNB AGAINST AUTHENTICATED SWIFT LOUS.SAYS HAS 'SOLD DOWN ALL OF THE REFERRED TRANSACTIONS'.  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 says had exposure on 12 accounts mentioned by RBI for insolvency proceedings
Friday, 1 Sep 2017 

Sept 1 (Reuters) - Axis Bank Ltd ::Says bank had exposure on 12 of the accounts mentioned by RBI for insolvency proceedings.Says total fund based outstanding of bank on accounts in RBI directions was INR 18.43 billion; non fund based outstanding was INR 6.49 billion.  Full Article

UPDATE 1-India's Infosys sets up blockchain-based trade finance network with seven banks

* Finacle also in talks with overseas lenders (Adds executive comments, details of the network, context)