
Axis Bank reported a robust performance in its unaudited financial results for the quarter ended December 31, 2024, with Net Interest Income (NII) growing by 8.57% year-on-year (YoY). The NII for Q3FY24 stood at ₹13,605.85 crore, compared to ₹12,532.15 crore in the same period last year.
Key Highlights:
- Interest Income:
- The bank’s interest earned increased to ₹30,953.94 crore for Q3FY24, a significant rise from ₹27,961.14 crore in Q3FY23.
- Interest Expenses:
- Interest expended also grew to ₹17,348.09 crore in Q3FY24, up from ₹15,428.99 crore in Q3FY23.
- Net Interest Income (NII):
- NII, calculated as the difference between interest earned and interest expended, stood at ₹13,605.85 crore in Q3FY24, showcasing an 8.57% YoY growth.
The increase in NII reflects Axis Bank’s ability to manage interest income growth effectively while maintaining a steady control over interest expenses. This growth underscores the bank’s strong operational performance in the competitive banking sector.