In Q4FY20, Axis Bank reports Rs 1388 cr net loss

Bank’s operating profit for the quarter was Rs 5,851 cr, up 17 pct YOY from Rs 5,014 cr in Q4FY19 while the operating profit for the year ended 31 March grew by 23 pct YOY to Rs 23,438 cr

Total deposits grew 19 per cent YOY on quarterly average basis (QAB). Source: Reuters

India's third largest private lender Axis Bank today reported a net loss of Rs 1388 cr for the quarter, it said in an exchange filing. The Bank’s operating profit for the quarter was Rs 5,851 cr, up 17 per cent YOY from Rs 5,014 cr in Q4FY19 while the operating profit for the year ended 31 March grew by 23 per cent YOY to Rs 23,438 cr.

Other Highlights of results:
-- The Net Interest Income in Q4FY20 grew by 19 per cent YOY to Rs 6,808 cr.

-- Growth in Deposits continues to drive Loan growth:
o Total deposits grew 19 per cent YOY on quarterly average basis (QAB)
o Savings Account deposits grew 13 per cent YOY, Current Account deposits grew by 11 per cent YOY and Retail Term
Deposits (RTD) were up 33 per cent YOY on QAB basis. CASA ratio was 39 on QAB basis
o The Bank added 478 branches to its domestic network in FY20

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o Loan book grew by 15 per cent YOY with Retail loans up 24 per cent YOY and Corporate loans up 11 per cent YOY.

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