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Axis Bank appoints Puneet Sharma as CFO, to take charge from March 6
Posted on 27th February 2020

Axis Bank on Thursday said its board has approved appointment of Puneet Sharma as Chief Financial Officer (CFO).

His appointment will be effective from March 6, the private sector lender said in a regulatory filing.

Sharma replaces Jairam Sridharan, who has resigned as the group executive and CFO of the bank, with effect from the close of business hours on March 5, it said.

Axis Bank posts standalone net loss of Rs 112 crore in Q2 on one-time tax impact
Posted on 22nd October 2019
Axis Bank on Tuesday reported a net loss of Rs 112.08 crore on a standalone basis for the second quarter ended September of the current fiscal due to a one-time tax impact.

The private sector bank had posted a net profit of Rs 789.61 crore in the corresponding July-September quarter of the previous fiscal.

Axis Bank to report Q2 results today. Here's what leading brokerages expect
Posted on 21st October 2019
Subdued loan growth and flat net interest margin (NIM) could dull the September quarter earnings of Axis Bank, which is slated to report its September quarter earnings for the financial year 2019-20 (Q2FY20) on Monday, October 21.

Analysts, however, seem to be divided on the growth in net profit due to ambiguity over whether the bank would provide a one-time mark-down in its deferred tax asset (DTA) or would the mark-down be spread evenly over the financial year.

Axis Bank fixes floor price for QIP issue at Rs 661.50 per equity share
Posted on 20th September 2019
Private lender Axis Bank on Thursday fixed the floor price for its qualified institutional placement (QIP) issue at at Rs 661.50 per equity share. The private lender has said that the board will meet again on September 25 to approve QIP issue to investors.

The bank, in an exchange filing, has also said that a discount of 5 per cent can be offered on the base price at the discretion of the board.

Axis Bank reports a 95% jump in Q1 net profit
Posted on 31st July 2019
Axis Bank’s net profit jumped 95% year-on-year (y-o-y) to Rs 1,370.08 crore for the April-June period against Rs 701.09 crore in the corresponding quarter last year.

The private lender witnessed a 13.1% y-o-y rise in net interest income (NII) at Rs 5,844 crore. NII is the difference between interest earned and interest paid by a bank. The private lender’s shares fell 2.58% intraday, before settling at Rs 706.55 per share, down 1.82%.

Axis Bank's June quarter profit seen at ₹1,855 crore
Posted on 30th July 2019
Mumbai: Private-sector lender Axis Bank is expected to report a net profit of ₹1,855 crore for the June quarter of FY20 compared with a net profit of ₹701.09 crore in the year-ago period, according to a consensus estimate of 23 analysts polled by Bloomberg.

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.

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