Axis Bank Ltd (AXBK.NS)
22 Jan 2018
* 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
BRIEF-Axis Bank seeks shareholders' nod for issue of about 45.4 mln convertible warrants to 4 investors
* Seeks shareholders' nod for issue of about 45.4 million convertible warrants to four investors
MUMBAI India's Axis Bank Ltd is to raise 116.26 billion rupees ($1.8 billion) to further strengthen its capital base by selling shares and warrants to a group of investors including Bain Capital and top Indian insurer Life Insurance Corp (LIC).
* Fund raising after recent surge in bad loans (Adds details from Axis Bank statement)
MUMBAI, Nov 10 India's Axis Bank Ltd said on Friday it will raise 116.26 billion rupees ($1.78 billion) by selling shares and convertible warrants to investors including Bain Capital and top Indian insurer Life Insurance Corp.