NEWS & ADVICE : CAR LOANS
Axis bank earned a profit of 19% in Q3
By Joseph Samson
Jan 17, 2014
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With the help of strong interest income and robust margins Axis bank, country third largest lending bank gained a profit of 19%. Last year the net profit of the bank was Rs 1,347 crore which jumped to Rs 1,604 crore this year.

Net Interest Income

A rise of 20% is recorded in net interest income of the bank which accounts for Rs 469 crore. Supplementary income sources increased by mere 2%. The data of the bank showed that overall income of the bank increased from Rs 8,580 crore to Rs 9,434 crore.

NPA

The non performing assets of the bank grew within a year from Rs 2275 crore to Rs 3008 crore, which was deteriorating. The overall advances and deposits of the bank also went by 18% and 7% respectively.

Net Interest Margin

The NIM of the bank grew from 3.57% in Q3 FY13 to 3.71. Within a period of three months the Axis bank launched 96 branches and 532 ATMs across the country.


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