Axis Bank, one of the largest private banks in the country, has announced the financial results for the second quarter (2021-22). The bank’s second quarter profit grew 86.2 per cent to Rs 3,133.3 crore. However, the bank was estimated to have a profit of Rs 2,912.1 crore. Whereas in the second quarter of the last financial year (2020-21), the bank’s profit was Rs 1,682.67 crore.
Bank’s NII increased
In the second quarter of 2021-22, the bank’s net interest income i.e. NII was Rs 7,900.3 crore, while during this time the bank was estimated to have a net interest income of Rs 8,064.3 crore. On a yearly basis, the bank’s consolidated profit increased to Rs 3,133.3 crore in the second quarter of the financial year 2021-22, while the bank’s consolidated profit in the same quarter of the previous financial year (2020-21) stood at Rs 1,682.7 crore.
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Fall in NPAs
On a quarter-on-quarter basis, the total NPA of the bank declined to 3.53 per cent as compared to 3.85 per cent in the previous quarter. On a quarterly basis, the bank’s net NPA was 1.08 percent, while in the previous quarter, the bank’s net NPA was 1.20 percent. According to its BSE filing, Axis Bank achieved a 16 per cent growth in retail loans on a year-on-year basis during the quarter ended September 2021. Gained an increase of 18 percent in SME loans and 32 percent in mid-corporate loan book.