Excelsior Correspondent
JAMMU, Oct 17: India’s third largest private Bank Axis Bank today reported 18 percent growth to Rs 1611 crores in its second quarter ending on September 30, 2014.
The Bank showed healthy earnings in terms of growth in core revenues for the quarter and half-year ended September 30, 2014. The Bank’s Core Operating Revenue for second quarter grew by 17 percent YOY to Rs 5,171 crores and for half yearly grew by 15 percent YOY (Year on Year) to Rs 9,913 crores.
The Bank’s Net Interest Income (NII) rose 20 percent YOY to Rs 3,525 crores during second quarter from Rs 2,937 crores. Net interest margin, excluding one offs, remained stable and stood at 3.93 percent in first half year. Savings Bank Deposits recorded a healthy growth of 20 percent YOY to reach Rs 79,875 crores while Current Account deposits grew 8 percent YOY and stood at Rs 46,492 crores.
During this period, bank added 84 branches network across the country and had a network of 2,505 domestic branches and extension counters and 13,146 ATMs situated in 1,686 centres.
The Bank has eight international offices with branches at Singapore, Hong Kong, Dubai, Colombo and Shanghai, representative offices at Dubai and Abu Dhabi and an overseas subsidiary at London, UK. The international offices focus on corporate lending, trade finance, syndication, investment banking and liability businesses. The total assets under overseas operations were USD 7.35 billion as on September 30, 2014.
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