Axis Bank internet revenue rises 86%

Axis Bank on Tuesday reported an over 86 per cent soar in its standalone internet revenue at Rs 3,133.32 crore within the second quarter ended September 2021.
The financial institution had posted a internet revenue of Rs 1,682.67 crore throughout the identical interval of the earlier fiscal yr. Total standalone earnings throughout July-September 2021-22 rose to Rs 20,134.39 crore, from Rs 19,550 crore in the identical interval of 2020-21, Axis Bank mentioned.
The financial institution confirmed enchancment on the asset high quality entrance, because the gross non-performing property (NPAs) or dangerous loans fell to three.53 per cent of the gross advances by the top of September this yr from 4.18 per cent in the identical interval a yr in the past.
Net NPAs, nevertheless, rose to 1.08 per cent from 0.98 per cent.

Bank’s provisions for dangerous loans and contingencies for the reported quarter fell considerably to Rs 1,735 crore from Rs 4,343 crore put apart within the year-ago interval.
Meanwhile, Canara Bank reported over two-fold soar in its internet revenue at Rs 1,332.61 crore within the September quarter.
— With PTI