Higher bad loans due to seasonal stress in agri biz, indicates Axis Bank

July 25, 2024

Axis Bank witnessed a sequential decline in asset quality metrics for the June quarter due to seasonal effects on agriculture business. Gross non-performing asset ratio rose to 1.54%. Net profit marginally increased to Rs 6,035 crore as provisions doubled compared to the previous year. Credit costs are expected to rise, especially in the unsecured portfolio.

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