The net profit of the third largest bank of the country – Axis bank has increased by 18% this time. The bank has reported that the net profit of the bank stood up at Rs 1,611 crore by the end of September, 2014.
The previous year the profit earned by the bank was Rs 1,362 crore. Other income grew by 10 per cent at Rs. 1,948 crore as against Rs. 1,766 crore in the second quarter last year. The bank has done well in all the sectors this time the NPAs of the bank also deteriorated to 0.44 per cent.
Further the reports have also shown that the gross total advances of the bank has also increased by 20% to Rs. 2.42 lakh crore . The total advances went up 11%.