Page 7 - Axis Bank

Axis Bank's stake likely to rise to 20% in 6-9 months: Max Life CEO

Axis Bank is likely to raise its stake in Max Life Insurance to about 20 per cent over the next 6-9 months, the insurance company's CEO Prashant Tripathy said. Currently, Axis Bank and its two subsidiaries Axis Capital Ltd and Axis Securities Ltd collectively own 12.99 per cent of Max Life Insurance post approval of the deal in April last year. "The bank currently holds about 13 per cent and we are hopeful that over the next 2-3 quarters they would be able to take it to 20 per cent," Tripathy told PTI in an interview. Under the deal, the Axis entities also have the right to acquire an additional stake of up to seven per cent in Max Life, in one or more tranches, subject to regulatory approvals. He further said bancassurance with Axis Bank has seen a growth of 18-20 per cent over the last five years and 60 per cent of new sales come from the Axis Bank tie-up at present. Besides Axis Bank, the life insurer has bancassurance partnerships with Yes Bank and a few other cooperative ..

Axis Bank hikes MCLR by 5 bps across tenors, follows other lenders

Banks change lending policy to keep up with monetary policy committee's raising repo rate

Over next few quarters, Axis Bank will increase stake: Max Life CEO

'The value of new business (VNB) grew 23 per cent - this means we improved our margins and our total assets under management grew 14 per cent'

HDFC Bank's Kaizad Bharucha took home the most among bankers in FY22

Axis' Amitabh Chaudhry the highest paid among bank CEOs

Axis Bank to wind up UK subsidiary after deal with OpenPayd fails

At the end of June, the bank had an overseas loan book of Rs 38,928 cr, a contraction from Rs 45,750 cr in March quarter

Axis Bank to acquire over 5% stake in CredAble for Rs 55 crore by September

The bank will acquire 8,921 equity shares, equivalent to 5.09 per cent, of face value of Rs 10 each for Rs 55 crore in CredAble.

CCI clears Axis Bank's proposed acquisition of Citi's consumer biz in India

Under the deal worth Rs 12,325 crore, announced on March 30, Axis Bank would take over Citi's credit cards, personal loans and wealth management businesses that are focused on the affluent segment.

Sensex sheds 498 pts, Nifty below 16,500; Infy slips 3.5%, Axis Bank 3%

CLOSING BELL: Equity markets settled near the low point of the day as investors chose to stay on the sidelines ahead of the US Federal Reserve's monetary policy outcome on Wednesday

Axis Bank Q1 review: Why did shares fall 3.5% despite 91% surge in profit?

According to analysts, Axis' earnings beat was led by NIM expansion, and credit cost being restricted at less than 20 bps

Stocks to watch: Asian Paints, Bajaj Auto, Tata Steel, Axis Bank, Lupin

Stocks to watch today: Asian Paints, Bajaj Auto will report their June quarter results (Q1FY23) on Tuesday, July 26; Lupin received approval from USFDA to market medication for high blood pressure.

Axis Bank Q1 net profit jumps 91% to Rs 4,125 crore on firm NII growth

MD says he hopes to get CCI nod for Citi's consumer biz deal in 6-8 weeks

Top headlines: Axis Bank profit doubles, wind energy looks for second wind

Total income of the bank rose to Rs 21,727.61 crore during April-June quarter of the current fiscal, compared to Rs 19,361.92 crore in the year-ago period, Axis Bank said in a regulatory filing

Axis Bank profit nearly doubles to Rs 4,125 crore in April-June quarter

Axis Bank on Monday said its net profit nearly doubled to Rs 4,125 crore in the April-June quarter of FY23, helped by decline in bad loans. The private sector bank had registered a net profit of Rs 2,160 crore in the corresponding quarter of the previous fiscal. Total income of the bank rose to Rs 21,727.61 crore during April-June quarter of the current fiscal, compared to Rs 19,361.92 crore in the year-ago period, Axis Bank said in a regulatory filing. The lender's asset quality improved as gross Non-Performing Assets (NPAs) declined to 2.76 per cent as on June 30 this year, from 3.85 per cent a year ago. Net NPAs or bad loans slipped to 0.64 per cent of net advances furnished by June-end from 1.20 per cent a year earlier. As a result, provisions other than tax and contingencies declined manifold to Rs 359.36 crore as against Rs 3,302 crore in the same period a year ago. On a consolidated basis, Axis Bank posted a 84 per cent jump in net profit to Rs 4,389.22 crore for the repo

Sensex falls 306 pts; Nifty holds 16,600; Zomato cracks 11%, RIL 3%

CLOSING BELL: Among sectors, the Nifty Auto fell 1.7 per cent, while the Nifty Metal added 1.5 per cent

Axis Bank Q1 result today: A look at the numbers in the last four quarters

Axis Bank Q1 Results: In FY22, the bank doubled its net profit to Rs 13,025 crore. The operating profit of the bank grew by 13 per cent YOY & 5 per cent QOQ, in Q4FY22

Stocks to watch: Infosys, RIL, ICICI Bank, YES Bank, Glenmark, Tata Motors

Stocks to watch today: Axis Bank, Tata Steel will report their June quarter 2022 results (Q1FY23) on Monday, July 25; Infosys delivered net profit for Q1 below street expectations at Rs 5,360 crore.

We are looking at being distinctive as a bank: Axis Bank MD & CEO

In a Q&A, Axis Bank MD & CEO Amitabh Chaudhry says bank's core leadership is focused on 19 transformative initiatives, at both business and functional levels in order to become better execution engine

Major PSU banks to go live on account aggregator system by July-end

SBI and BoB are expected to go live by the deadline; PNB and Union Bank of India are already live on the ecosystem

ICICI, Axis, HDFC Bank allowed to offer services to DefMin in global buys

These private banks will provide Letter of Credit (LC) and direct bank transfer business for overseas procurement by the defence ministry

Shareholders turn down Reliance Power's asset monetisation plan

A report by Institutional Investor Advisory Services (IiAS) last month says that the company has defaulted on loans to the tune of Rs 3,561 crore as on March 31, 2022