Axis Bank
Axis Bank released its second quarter (Q2FY26) results today. The net profit of the bank declined to Rs 5,090 crore, which was Rs 6,917.57 crore in the same quarter last year. That means a decline of 26.42%. The bank’s profit has also declined by 12.34% compared to the previous quarter (Q1FY26), which was Rs 5,806.14 crore at that time. Net Interest Income (NII) stood at Rs 13,744 crore, which shows a growth of 2% on annual basis and 1% on quarterly basis. The net interest margin (NIM) of the bank remained stable at 3.73%.
Slight increase in total income of the bank
The total income of the bank increased to Rs 37,594.81 crore, which was Rs 37,141.71 crore in the same quarter last year. The gross NPA of the bank was 1.46%, which was 1.44% last year and 1.57% last quarter. Net NPA stood at 0.44%, which was 0.45% in Q1FY26 and 0.34% a year ago.
CASA ratio at 40%
Total deposits increased by 11% to Rs 12.03 lakh crore, while loans (advances) increased by 12% to Rs 11.17 lakh crore. There was an increase of 12% in term deposits and 13% increase in current accounts. An increase of 6% was recorded in savings accounts. CASA ratio was 40%.
Provision of Rs 1,231 crore on the advice of RBI
Following RBI advice, Axis Bank made a lump sum provision of Rs 1,231 crore for two discontinued crop loan products. The bank said that the conditions of the customers have not changed and this amount can be withdrawn till March 2028 or before when the loans will be recovered. RBI investigation did not find any irregularities in the asset quality or NPA provision of the bank.
Axis Bank’s dominance in digital payments
The bank said that it has further strengthened its position in the digital and payment segments. UPI has 37% market share in terms of volume and 35% in terms of value. The bank now has more than 1.5 crore credit cards, out of which 10 lakh cards were issued in this quarter. With 14% market share, it is among the leading card issuers in the country. 97% of the bank’s transactions are digital. Axis Mobile App has 15 million monthly active users and is among the top-rated banking apps in the world.