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Axis Bank Ltd (AXBK.NS)

AXBK.NS on National Stock Exchange of India

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Latest Key Developments (Source: Significant Developments)

Axis Bank Gets Shareholders' Nod For Re-Appointment Of Shikha Sharma As MD & CEO
Wednesday, 20 Jun 2018 

June 20 (Reuters) - Axis Bank Ltd ::GETS SHAREHOLDERS' NOD FOR RE-APPOINTMENT OF SHIKHA SHARMA AS MD & CEO FROM JUNE 1 TO DEC 31, 2018.  Full Article

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

India's NSE index hits 3-week high; pvt-sector banks rise

June 7 India's broader NSE index rose to a three-week high on Thursday with private-sector lenders such as Axis Bank and ICICI Bank leading gains, a day after the central bank raised its policy rate for the first time in over four years.