Axis Bank Q2 net profit rises 38% to ₹7,003 crore as provisions fall
Net interest income grew 12 per cent to Rs 15,371 crore, while provisions fell 52 per cent and gross NPA ratio improved to 1.16 per cent
Axis Bank reported a significant 38% increase in its net profit to ₹7,003 crore for Q2 FY27, ending September 30, 2026. This growth was driven by a 12% rise in net interest income and improved asset quality. The bank's deposit and advances saw a solid increase, with total deposits up by 21% year-on-year and advances growing by 23%.
Retail loans, which make up 54% of net advances, grew 16% year-on-year. Asset quality improved as well, with gross and net non-performing assets decreasing. The bank maintained a strong capital adequacy ratio of 16.27% and an excess Statutory Liquidity Ratio of ₹1,04,306 crore. In terms of innovation, Axis Bank announced plans to hire an additional 12,500 employees in FY27 to adapt to digital advancements.
In the digital payments and card industry, the bank achieved a market share of about 13.1% of cards in force and holds approximately 38% of UPI Payer PSP volume. CEO Amitabh Chaudhry emphasized the bank's focus on innovation, trust, and execution, particularly in the areas of digital payments and AI-driven technology.
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