Axis Bank Q4FY22 and annual results: Reports FY22 PAT of Rs. 13,025 crores, up 98% YOY

Axis Bank Q4FY22 and annual results: Reports FY22 PAT of Rs. 13,025 crores, up 98% YOY

Strong growth performance across deposits and loans, improving return ratio’s

Axis Bank, India’s third-largest private sector bank announced its Q4FY22 and annual results today, reporting quarterly net profit of Rs. 4,118 crores, up 54% YoY and 14% QoQ, as compared to profit of Rs. 2,677 crores in Q4FY21. The Bank’s Net Interest Income (NII) grew 17% YoY to Rs. 8,819 crores in Q4FY22 and Rs. 7,555 crores in Q4FY21. Its Net Interest Margin (NIM) for Q4FY22 stood at 3.49%. CASA deposits grew by 16% YoY and 7% QoQ, whereas CASA ratio stood at 45%. The bank’s operating revenue reflects an 18% YoY growth from Rs. 11,096 crores in Q4FY21 to Rs. 13,042 in Q4FY22. As on 31st March 2022, the Bank’s reported Gross NPA and Net NPA levels were 2.82% and 0.73% respectively as against 3.17% and 0.91% as on 31st December 2021. The Bank’s Fee income grew by 11% YoY and 12% QoQ to Rs. 3,758 crores. Retail fees grew 14% YoY and 14% QoQ; and constituted 66% of the Bank's total fee income. The bank’s overall capital adequacy ratio (CAR) stood at 18.54% with CET 1 ratio of 15.24%. The Bank’s domestic subsidiaries delivered strong performance with combined FY22 PAT of Rs. 1,195 crores, up 44% YoY, and contributing 80bps to consolidated ROE (annualised) of 16.67%.