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Axis Bank’s Q4 loss at Rs 2,188 crore; slippages rise 3-fold
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
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Summary
Axis Bank on Thursday reported a net loss of Rs 2,188 crore in March quarter against profit of Rs 1,225 crore in the corresponding quarter last year. Bank’s advances stand at Rs 4.3 lakh crore, up 18% Y-o-Y and deposits at Rs 4.5 lakh crore, up 9% Y-o-Y. Country’s third largest private sector lender’s gross …
Continue reading “Axis Bank’s Q4 loss at Rs 2,188 crore; slippages rise 3-fold”
Axis Bank on Thursday reported a net loss of Rs 2,188 crore in March quarter against profit of Rs 1,225 crore in the corresponding quarter last year.
Bank’s advances stand at Rs 4.3 lakh crore, up 18% Y-o-Y and deposits at Rs 4.5 lakh crore, up 9% Y-o-Y.
Country’s third largest private sector lender’s gross non-performing assets (NPAs) during the quarter deteriorated to Rs 34,248. 64 crore, at 6.77% of total loans.
Provisions for bad loans jumped to Rs 7,179.53 crore compared to Rs 2,811 crore in the previous quarter.
Slippages for Q4FY18 stood at Rs 16,536 crore and Rs 13,938 crore slippages came from corporate lending.
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