Overview
- Axis Bank, which reported results Saturday, posted net profit of Rs 7,071 crore, down 0.6% from a year earlier after a sharp rise in provisions.
- The bank set aside Rs 3,522 crore in Q4, including a Rs 2,001 crore one-time precautionary charge, as management cited unpredictable macro and geopolitical risks.
- Core trends stayed firm at Axis with net interest income up 5% to Rs 14,457 crore, net interest margin at 3.62%, loans up 19%, deposits up 14%, and a proposed Re 1 dividend.
- RBL Bank said March-quarter profit jumped to about Rs 229–230 crore as provisions eased to roughly Rs 678 crore and net interest income grew 7%, with bad-loan ratios improving.
- RBL confirmed RBI and CCI approvals for Emirates NBD’s planned investment, with the deal in final closing stages, a step that could bolster capital and support margins.