AXIS Bank Ltd slips to Q4 loss of Rs. 2188.74 crores

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The bank had posted a net profit of Rs 1,225.10 crore in the corresponding quarter past year.

One of the leading private lenders of India, Axis Bank Ltd. went up the maximum in the past six months as an all-new recognition of bad loans caused by investors to overlook the bank's first-ever loss.

Healthy growth in its net interest income (NII), which is the difference of interest earned over interest expended, resulted in a higher profit for the Mumbai-based lender although provisions against bad loans surged by a steep 30 per cent. This was largely due to muted interest income in Q4FY18 at Rs. 11,771 crore and Rs. 11,168 crore in Q4FY17.

RBL Bank's loans grew 37% to Rs40,286 crore, while deposits were 27% higher at Rs43,902 crore. Its gross non-performing assets (GNPA) fell to Rs 2,627 crore, as against Rs 2,974 crore in the December quarter.

Bandhan Bank has posted a 20.29 per cent growth in net profit for the fourth quarter ended March 31, 2018. Its gross NPA and net NPA levels rose to 6.77 per cent and 3.40 per cent of advances from 5.28 per cent and 2.56 per cent as on December 31, 2017, respectively. Most of the corporate slippages, nearly 90 per cent came from the BB book particularly the power sector The watch list is now closed and in Q4 it is (just) Rs 428 crore...

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Total income in the January-March period of 2017-18 increased to Rs 1,553.97 crore, up 29 per cent, from Rs 1,207.77 crore in the same quarter of 2016-17.

Net NPAs increased to 0.58 per cent (Rs 172.90 crore) of the net advances by end of March 2018, versus 0.36 per cent (Rs 61.17 crore). "The NPA recognition phase of this cycle is almost complete".

Commenting on the performance, Chandra Shekhar Ghosh, Managing Director and CEO of Bandhan Bank, said: "The year 2017-18 has been a watershed year for the bank".

The bank reported credit cost of 0.94 per cent for the year and Ahuja exuded confidence that it will improve further going ahead. On her exit, she told reporters on Thursday that the new leadership was fully committed to the bank's execution strategy. The divergence between what the bank reported and what the RBI auditors found were to the tune of Rs 4,867 crore in 2016-17 and Rs 9,478 crore for 2015-16.

The Axis Bank share price rallied as much as 5.5 per cent to Rs 522 on the BSE. Axis Bank saw 1.02 million shares change hands in single block on the National Stock Exchange.

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