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Axis Bank Related news

Axis Bank completes acquisition of Citibank India's consumer business

Axis Bank completes acquisition of Citibank India's consumer business

India’s third-largest private sector lender, Axis Bank, has completed the acquisition of Citibank India’s consumer business and the consumer business of its non-banking finance arm, Citicorp Finance (India) Ltd, for Rs 11,603 crore instead of Rs 12,325 crore estimated earlier.

In a notification to the exchanges, Axis Bank said “…the businesses of Citibank NA and Citicorp Finance Ltd stands transferred to Axis Bank.

Axis Bank announces will raise up to Rs 5,000 crore by issuing bonds

Axis Bank announces will raise up to Rs 5,000 crore by issuing bonds

Axis Bank on Monday said it will raise up to Rs 5,000 crore by issuing bonds.

In April this, the board of directors of Axis Bank had authorised it to borrow/raise funds in Indian currency/foreign currency by issue of debt instruments, perpetual debt instruments, AT 1 bonds, infrastructure bonds and Tier II capital bonds among others up to an amount of Rs 35,000 crore.

Axis Bank dips 4% on profit booking post September quarter results

Axis Bank dips 4% on profit booking post September quarter results

Shares of Axis Bank dipped 4 per cent to Rs 808.55 on the BSE in Wednesday’s intra-day trade on profit booking after the bank reported a weak operating performance in September quarter (Q2FY22). In past three weeks, the private sector lender was up 8 per cent. The stock had hit a record high of Rs 867 on Monday, October 25, 2021.

In Q2FY22, Axis Bank’s net interest income (NII) was up modestly by 7.8 per cent year-on-year (YoY) at Rs 7,900 crore on account of 19 bps YoY fall in net interest margins (NIMs) to 3.39 per cent.

Axis Bank buys 5.55% stake in financial technology firm IBBIC

Axis Bank buys 5.55% stake in financial technology firm IBBIC

Axis Bank on Tuesday said it has bought 5.55 per cent stake in financial technology firm IBBIC.

The bank has subscribed to 50,000 equity shares of face value of Rs 10 each fully paid up of IBBIC Private Ltd (IBBIC) for a consideration of Rs 10 per equity share constituting 5.55 per cent of the issued and paid up capital of IBBIC, Axis Bank said in a regulatory filing.

Axis Bank raises Rs 10,000 cr via allotment of equity shares to QIBs

Axis Bank raises Rs 10,000 cr via allotment of equity shares to QIBs

Private sector lender Axis Bank on Tuesday said it has raised Rs 10,000 crore through allotment of equity shares to qualified institutional buyers (QIB).

Last week, Axis Bank had set a floor price of Rs 442.19 per equity share for its proposed Rs 15,000-crore qualified institutional placement (QIP).

Axis Bank appoints Puneet Sharma as CFO, to take charge from March 6

Axis Bank appoints Puneet Sharma as CFO, to take charge from March 6

Axis Bank on Thursday said its board has approved appointment of Puneet Sharma as Chief Financial Officer (CFO).

His appointment will be effective from March 6, the private sector lender said in a regulatory filing.

Sharma replaces Jairam Sridharan, who has resigned as the group executive and CFO of the bank, with effect from the close of business hours on March 5, it said.

Axis Bank posts standalone net loss of Rs 112 crore in Q2 on one-time tax impact

Axis Bank posts standalone net loss of Rs 112 crore in Q2 on one-time tax impact

Axis Bank on Tuesday reported a net loss of Rs 112.08 crore on a standalone basis for the second quarter ended September of the current fiscal due to a one-time tax impact.

The private sector bank had posted a net profit of Rs 789.61 crore in the corresponding July-September quarter of the previous fiscal.

Axis Bank to report Q2 results today. Here's what leading brokerages expect

Axis Bank to report Q2 results today. Here's what leading brokerages expect

Subdued loan growth and flat net interest margin (NIM) could dull the September quarter earnings of Axis Bank, which is slated to report its September quarter earnings for the financial year 2019-20 (Q2FY20) on Monday, October 21.

Analysts, however, seem to be divided on the growth in net profit due to ambiguity over whether the bank would provide a one-time mark-down in its deferred tax asset (DTA) or would the mark-down be spread evenly over the financial year.

Axis Bank fixes floor price for QIP issue at Rs 661.50 per equity share

Axis Bank fixes floor price for QIP issue at Rs 661.50 per equity share

Private lender Axis Bank on Thursday fixed the floor price for its qualified institutional placement (QIP) issue at at Rs 661.50 per equity share. The private lender has said that the board will meet again on September 25 to approve QIP issue to investors.

The bank, in an exchange filing, has also said that a discount of 5 per cent can be offered on the base price at the discretion of the board.

Axis Bank reports a 95% jump in Q1 net profit

Axis Bank reports a 95% jump in Q1 net profit

Axis Bank’s net profit jumped 95% year-on-year (y-o-y) to Rs 1,370.08 crore for the April-June period against Rs 701.09 crore in the corresponding quarter last year.

The private lender witnessed a 13.1% y-o-y rise in net interest income (NII) at Rs 5,844 crore. NII is the difference between interest earned and interest paid by a bank. The private lender’s shares fell 2.58% intraday, before settling at Rs 706.55 per share, down 1.82%.

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