Axis Bank Q4FY22 and annual results: Reports FY22 PAT of Rs. 13,025 crores, up 98% YOY
Strong growth performance across deposits and loans, improving return ratio’s
Mumbai : Axis Bank, India’s third-largest private sector bank announced its Q4FY22 and annual results today, reporting quarterly net profit of Rs. 4,118 crores, up 54% YoY and 14% QoQ, as compared to profit of Rs. 2,677 crores in Q4FY21. The Bank’s Net Interest Income (NII) grew 17% YoY to Rs. 8,819 crores in Q4FY22 and Rs. 7,555 crores in Q4FY21. Its Net Interest Margin (NIM) for Q4FY22 stood at 3.49%. CASA deposits grew by 16% YoY and 7% QoQ, whereas CASA ratio stood at 45%. The bank’s operating revenue reflects an 18% YoY growth from Rs. 11,096 crores in Q4FY21 to Rs. 13,042 in Q4FY22. As on 31st March 2022, the Bank’s reported Gross NPA and Net NPA levels were 2.82% and 0.73% respectively as against 3.17% and 0.91% as on 31st December 2021. The Bank’s Fee income grew by 11% YoY and 12% QoQ to Rs. 3,758 crores. Retail fees grew 14% YoY and 14% QoQ; and constituted 66% of the Bank’s total fee income. The bank’s overall capital adequacy ratio (CAR) stood at 18.54% with CET 1 ratio of 15.24%. The Bank’s domestic subsidiaries delivered strong performance with combined FY22 PAT of Rs. 1,195 crores, up 44% YoY, and contributing 80bps to consolidated ROE (annualised) of 16.67%.
Amitabh Chaudhry, MD&CEO, Axis Bank said, “We have made steady progress across all dimensions of our business. Considerable work has gone into strengthening our core, building granularity while at the same time ensuring that we are well positioned to grow and leverage the opportunities opening up, hopefully with the pandemic behind us. The Citi deal is one of its kind, and should pivot us into a premium franchise in line with our strategic objectives. With smart products, services, partnerships and talent on our side, we look forward to further building on our performance in the new financial year.”
