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ED attaches property worth Rs 2.95 crore in Axis Bank DeMo case
Posted on 14th May 2019
The Enforcement Directorate (ED) on Monday attached movable and immovable properties worth Rs 2.95 crore of Puneet Jain, Hemraj Singh, Vinod Deshmukh, Rajeev Singh Kushwaha, Mehfooz Khan, Pravesh Kumar Gandhi and others in a money laundering case relating to Axis Bank demonetised currency conversion case.

Axis Bank swings to profit in Q4 on net interest income growth
Posted on 26th April 2019
Axis Bank on Thursday swung to a profit of Rs 1,505.06 crore for the three months to March 2019 against a loss of Rs 2,188.74 crore in the corresponding quarter a year ago. The bottomline was driven by strong net interest income growth and a sharp drop in provisioning for bad loans. The private lender witnessed a 20.63% y-o-y rise in net interest income (NII) to Rs 5,706 crore. Provisions fell 62.23% y-o-y to Rs 2,711.43 crore.

Big bank theory: Axis Bank eyes big branch expansion to catch up with HDFC Bank, ICICI
Posted on 26th March 2019
Axis Bank wants to take the number of its branches in the country to 5,000-5,500 which will bring it on par with the country’s top two private lenders in branch strength. While the top two private banks — ICICI Bank and HDFC Bank — have slowed down the pace of bank expansion, Axis Bank will continue its branch expansion strategy, Amitabh Chaudhry, MD & CEO, Axis Bank, said. In the next three to four years, we will add 400 to 500 branches, Chaudhry said. Once it reaches 5,000-5,500 branches, the expansion will come down, he added.

Axis Bank plans organisational recast, synergy with subsidiaries
Posted on 25th February 2019
Axis Bank’s newly inducted Chief Executive and Managing Director Amitabh Chaudhry is reworking the organisation’s structure, adding new roles as part of its larger growth strategy.

With a plank of “One Axis”, to project a combined offering from parent (bank) and its subsidiaries, it is giving a thrust on synergy to get more share in customer wallet.

Govt to sell up to 3% stake in Axis Bank to meet Rs 80,000 cr disinvestment target
Posted on 12th February 2019
The finance ministry through the Specified Undertaking of the Unit Trust of India (SUUTI) will sell up to a 3% stake in Axis Bank through the offer-for-sale (OFS) mechanism on Tuesday and Wednesday, the bank said in a notification to exchanges on Monday. The floor price for the offer would be Rs 689.52 per share. Axis Bank’s shares ended 1.1% lower than their previous close at Rs 710.35 on the BSE on Monday.

Axis Bank Q3 net profit surges 131% to Rs 1,681 crore, beats estimates
Posted on 29th January 2019
Private lender Axis Bank’s profit for the quarter ended December 2018 doubled over the previous year on back of strong growth in non-core income due to recoveries and stake sales.

The bank posted a growth of 131 per cent in net profit to Rs 1,681crore for the December quarter(Q3FY19), against Rs 726 crore a year ago. This was against a profit of Rs 790 crore in previous September(Q2FY19), said the bank in a filing to the exchanges.

Axis Bank hits record high; rallies 12% in two weeks
Posted on 8th January 2019
Shares of Axis Bank hit a record high of Rs 679 per share, up 2 per cent on the BSE, on expectations of a strong recovery in earnings, due to lower provisioning. The stock surpassed its previous high of Rs 677 recorded on September 10, 2018, in intra-day trade.

In the past two weeks, Axis Bank has outperformed the market by surging 12 per cent, as compared to a 3 per cent rise in the S&P BSE Sensex.

Axis Bank launches QuikPay Home Loan; a Monthly Instalments Plan
Posted on 13th December 2018
Axis Bank, the country’s third largest private bank, today launched ‘QuikPay Home Loan’, a home loan offering that will let home buyers save the interest amount component of the loan. QuikPay Home Loan will offer an alternative repayment structure, wherein the customer repays an equal amount of principal every month along with interest on the outstanding balance.

Axis Bank's Praveen Bhatt delves over customer centricity in a digital age
Posted on 8th November 2018
Management consultant and author Kate Zabriskie hit the nail on the head when she said: The customer’s perception is your reality.

In the digital age, an organization's biggest challenge is its customer. More specifically, it’s the way customer expectations are changing rapidly.

Axis Bank extends gain on strong Q2 results; stock surges 18% in 6 days
Posted on 5th November 2018
Shares of Axis Bank are up 4% to Rs 633, extending their previous week’s 14% rally on the BSE.

The private sector lender posted a better-than-expected 83% year-on-year (Y-o-Y) jump in its net profit at Rs 7.90 billion in the September quarter (Q2FY19), boosted by higher interest income and improvement in asset quality. Analysts on an average, expected profit of Rs 6.64 billion for the quarter.

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