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Axis Bank eyes bigger credit card pie, ties up with Flipkart
Posted on 12th July 2019
MUMBAI: Axis Bank, the fourth largest credit card issuer in the country, Thursday tied up with e- commerce major Flipkart to launch a co-branded credit card and is aiming to sell 1 million of the new card in a year.

The new co-branded card comes weeks after American lender Citi launched a similar offering by tying up with payments major Paytm.


Axis Bank appoints Citigroup, JPMorgan for $1.3-bn share sale: Sources
Posted on 11th July 2019
Axis Bank has picked banks, including Citigroup and JPMorgan Chase, to arrange a planned share sale of at least $1.3 billion, according to people with knowledge of the matter.

India’s third-largest private sector lender has also selected Credit Suisse Group, BNP Paribas, HSBC Holdings, UBS Group and Axis Capital for the proposed offering, the people said, asking not to be identified.


Axis Bank Rating | Buy — Execution of strategy will be vital to earnings
Posted on 1st July 2019
Axis Bank’s (AXSB’s) annual report analysis reveals the bank’s focus on improving its earnings metrics and asset quality. As part of its FY20-22 strategy, AXSB targets an RoE of 18% by FY22, with credit cost, opex and business mix identified as the key drivers for the achievement of this goal. Digital initiatives at the bank are gaining traction, with 43% of its personal loans sourced digitally versus 22% in FY18.

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.


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