Axis Bank net Zooms 31 pc, Aided by fee Income
Aided by higher net interest income (NII) and fee income, the net profit of Axis Bank grew 30.97 per cent from Rs 500.86 crore in third quarter of last year to Rs 655.98 crore in the present.india Updated: Jan 15, 2010 22:26 IST
Aided by higher net interest income (NII) and fee income, the net profit of Axis Bank grew 30.97 per cent from Rs 500.86 crore in third quarter of last year to Rs 655.98 crore in the present.
The net interest income and fee income of the bank grew 45.12 per cent and 29.22 per cent respectively on year-on-year basis. Net interest income rose to Rs 1,349 crore from Rs 930 crore while fee income grew to Rs 800 crore from Rs 619 crore.
During the period under consideration, total income of the bank increased from around Rs 3,717 crore for the quarter ended December 31, 2008 to Rs 3,872 crore for the present quarter. Net profit of the bank for three quarters starting April 2009 stood at Rs 1,749.66 crore, up 41.8 per cent from Rs 1,233.91 crore year-on-year.
During the quarter, the Bank added 33 branches and 189 ATMs. The bank also generated Rs 170 crore of trading profits in this period; a 49 per cent increase against the Rs 114 crore generated last year.
Net NPAs, as a proportion of net customer assets, increased to 0.46 per cent from 0.39 per cent in the same period last year.