BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Dolat Capital Report
Axis Bank Ltd.’s earnings exceeded estimates led by beat on net interest margin (up 36 basis points QoQ to 3.96%), low credit costs (~30 bps), and flattish opex QoQ, resulting in return on asset of 1.8% for the quarter and significantly bridging the return on asset gap versus large private peers.
NIM benefitted from re-pricing of external benchmark lending rate loans, 300 bps rise in credit-deposit ratio, and sequential moderation in lower yielding rural infrastructure development fund book.
Axis Bank's loan growth at 4% QoQ was broad based, with domestic corporate and small and medium enterprise leading growth at 6-7% QoQ. Asset quality concerns are largely behind with slippages at 1.9% and overall credit costs at 30 bps benefitting from healthy recoveries.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
As a Subscriber you get
Stories
RECOMMENDED FOR YOU
POPULAR