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Axis Bank – Q2FY27 first cut
19 Oct 2026, 10:11AM

  • NII grew 11.8% y-o-y and 5.0% q-o-q, 3.2% above our estimate, helped by strong loan growth. Reported NIM fell 10 bps q-o-q to 3.36%, slightly below our 3.39% estimate, due to FCNR (B) deposits.
  • Asset quality improved, with GNPA and NNPA down 12 bps and 4 bps q-o-q, and net credit cost falling to 0.45%.
  • Higher opex led to a 4.3% miss on operating profit, but lower provisions lifted PAT 37.6% y-o-y to Rs. 7,003 crore, in line with our estimate. 

Particulars

Q2FY27

Q2FY26

YoY

Q1FY27

QoQ

Net Interest Income

15,371

13,744

11.8%

14,646

5.0%

Other income

6,531

6,625

-1.4%

6,735

-3.0%

Net Income

21,902

20,369

7.5%

21,382

2.4%

Opex

10,819

9,957

8.7%

9,722

11.3%

Operating Profit

11,083

10,412

6.4%

11,659

-4.9%

Provisions

1,694

3,547

-52.2%

2,223

-23.8%

PBT

9,389

6,865

36.8%

9,437

-0.5%

Tax

2,386

1,776

34.4%

2,323

2.7%

PAT

7,003

5,090

37.6%

7,114

-1.6%

 

         

Advances

13,73,727

11,16,703

23.0%

12,61,557

8.9%

Deposits

14,52,066

12,03,487

20.7%

13,72,936

5.8%

 

         

NIMs %

3.36

3.73

-37 bps

3.46

-10 bps

GNPA %

1.16

1.46

-30 bps

1.28

-12 bps

NNPA %

0.35

0.44

-9 bps

0.39

-4 bps

PCR %

69.9

70.5

-58 bps

69.7

20 bps

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