Excelsior Correspondent
JAMMU, July 17: India’s one of the leading private banks – Axis Bank, has reported 22% YOY rise in Net Profit during Q1 (April’12 to June’12) to Rs 1,154 crore as compared to Rs 942 crore in Q1 last year. The Operating Profit for Q1 FY13 stood at Rs 1,964 crore, up by 26 % YOY from Rs 1,558 crore for Q1 financial year.
Axis Bank’s Demand Deposits grew by 17% YOY to Rs 86,942 crore for Q1 from Rs 74,414 crore during Q1, with Savings Bank deposits growing by 23%. Current and Savings Bank (CASA) deposits were 39% of aggregate deposits at the end of June 2012. The year on year growth in Net Interest Income and Other Income for Q1 was 26 % and 14%, respectively. Net Interest Margin during this quarter was 3.37% compared to 3.28% in Q1 last year. The asset quality was healthy with Net NPA at 0.31% as on June 30, 2012.
The Bank is well-capitalised with a Capital Adequacy Ratio of 13.51% (including Net Profit for Q1) as at the end of Q1 FY13 compared to 13.01% as at the end of Q1 FY12. Tier-I capital was 9.49% of risk weighted assets at the end of Q1 FY13, as against 9.84% as at the end of FY11.
At the end of Q1 this financial year, the Bank had a network of 1,674 domestic branches and 10,337 ATMs situated in 1,080 cities and towns. During the Q1, the bank added 52 branches and 413 ATMs. The number of Savings Bank accounts of Bank has grown 26% from 99.02 lakh as on Q1 FY12 to 124.45 lakh as on Q1 FY13. The Bank’s International Debit Card issuance has risen to 131 lakh debit cards as on Q1 FY13. The Bank had over 8.24 lac credit cards in force as on 30th June 2012.
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