MUMBAI: Axis Bank has posted a net profit of Rs 5,864 crore for the September quarter – an increase of 10% over Rs 5,330 crore reported in the year-ago period. The increase in net profit comes on the back of a 19% rise in net interest income to Rs 12,315 crore, as compared to the previous year.
Deposits of the bankrose 17.8% to Rs 9.6 lakh crore at the end of September, from Rs 8.1 lakh crore a year ago.The bank’s advances grew 23% year-on-year to almost Rs 9 lakh crore. Retail loans accounted for 58% of the net advances of the bank. During the quarter, the bank added 207 branches.
Deposits of the bankrose 17.8% to Rs 9.6 lakh crore at the end of September, from Rs 8.1 lakh crore a year ago.The bank’s advances grew 23% year-on-year to almost Rs 9 lakh crore. Retail loans accounted for 58% of the net advances of the bank. During the quarter, the bank added 207 branches.