Axis Bank Q3 Results: Asset quality largely stable, deposits grow 9% YoY

Axis Bank reported its Q3 financial results, showcasing stable asset quality and robust deposit growth. While the bank’s Gross and Net Non-Performing Assets (NPAs) saw a slight increase sequentially, its deposit base expanded significantly, reflecting its strong position in the banking sector.

Key Highlights:

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  1. Asset Quality:
    • Gross NPAs (GNPA): ₹15,850.3 crore, an increase of 2.5% QoQ.
    • Net NPAs (NNPA): ₹3,774.8 crore, up 4.5% QoQ.
    • GNPA Ratio: Marginally increased to 1.46%, compared to 1.44% in the previous quarter.
    • NNPA Ratio: Edged up to 0.35% from 0.34% in the preceding quarter.
  2. Deposit Growth:
    • Total deposits stood at ₹10,95,882.8 crore, registering a 9.05% YoY growth and a 0.84% QoQ increase.

Axis Bank’s Q3 results underline its ability to maintain stable asset quality while achieving healthy deposit growth. Despite a slight uptick in NPA ratios, the bank’s overall performance highlights resilience in a competitive environment. The continued growth in deposits signals a strong foundation for future expansion.