As per a report of Axis Bank, there is a increase of 21.25 per cent, in the overall net benefit to Rs.1, 362 crore in the quarter which finished on September 30. Net benefit development was upheld by a per cent hike in the net interest income, when the quarter ended, it stood at Rs2, 936 crore.
As per a statement made by the head corporate and executive director, Somnath Sengupta stated that throughout the quarter, the bank reported exchanging benefit of Rs 5 crore. Axis Bank exchanged 96 Percent of the government securities which were under the category of held - to maturity to the category of available for sale.
As per a statement made by Sengupta, the Net Interest margin of Axis Bank is set to be equitably stable as the year progressed. As it gets utilized and they raise the deposits it is but natural that the funds would go up before it falls down. However, for the entire year, they would be at least above 3.5 percent