Axis Bank Ltd bank share

The Casa boost, coupled with lower cost of term deposits and equity raised last year, pulled up net interest margins (NIMs) by 42 basis points to 3.75 per cent during 2009-10. Gross non-performing assets ratio surged 17 basis points to 1.13 per cent during 2009-10, though it was down 10 basis points from the high of 1.23 per cent during the previous quarter of this financial year.

Going ahead, Axis Bank is targeting balance-sheet growth of 25 per cent in 201011, higher than the 20 per cent growth for the system projected by the Reserve Bank of India. Regarding NIMs, the management expects a material correction of 40-50 basis points over the next two quarters, as lending rates are expected to remain soft, while the cost of deposits is likely to creep up.

The double boost of an easy tightening stance by the central bank announced on April 20, together with robust results, has triggered the stock rally. It ended 3.7 per cent higher yesterday at Rs 1,231.05 and trades at 13x FY12 earnings per share estimate.
source - business standard

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Axis Bank Ltd (updated - 15 Oct 2010)
Margin pressure was the key takeaway from Axis Bank’s September quarter results, with increase in cost of funds making an impact. Net interest margins (NIMs) fell marginally by three basis points on a sequential basis to 3.68 per cent during the quarter due to a 60-basispoint increase in the cost of term deposits. The decline in margins would have been higher had the share of lowcost current and saving account deposits not increased –it rose 138 basis points sequentially to 41.55 per cent.

Going by the management’s guidance, margins will remain under pressure despite a rise in the prime lending rate and the base rate announced in September. NIMs are seen settling lower at 3.253.5% for 2010-11.

While advances and deposits grew 36 per cent yearon-year due to a low base, the management’s loan growth guidance of about 26 per cent for 2010-11 is comforting. The focus seems to be on quality, considering that loan growth was skewed towards large and mid-sized corporates (up 6% sequentially).

Retail loan portfolio, where exposure to home and mortgage loans increased, dipped marginally on a sequential basis, but increased 17 per cent year-on-year. This helped stabilise portfolio quality, with net non-performing loans at 0.34 per cent of total assets.

Improving economic activity helped the bank’s fee income grow about 14 per cent sequentially to `849 crore, with gains coming from large- and mid-corporate credit and treasury and debt capital market segments. On the flip side, higher operating expenses dragged net profit, albeit marginally, to

`735 crore. The stock fell 1.81 per cent on Thursday, double the 0.91per cent decline in Nifty, reflecting the market’s disappointment with the results. At `1,560, the stock trades at three times its price to 201112 book value estimates.
source - business standard

Axis Bank Ltd (updated - 22 April 2010)
Axis Bank has wind powering its sails again with a sharp domestic recovery this quarter. Advances grew 28 per cent yearon-year (y-o-y) to Rs 1,04,343 crore as of end-March, as against 17 per cent growth in the non-food credit outlay by scheduled commercial banks.

Net interest income for 2009-10 rose 36 per cent to over Rs 5,000 crore, while it surged 41 per cent to Rs 1,461 crore in the fourth quarter of the current financial year. The income boost, along with 20 per cent growth in fee income in 2009-10, vaulted net profit for the full year by 39 per cent to Rs 2,515 crore, while net profit in the March quarter surged 31.55 per cent to Rs 764.87 crore.