Steady growth in stable and granular retail deposits continues to aid loan growth
- Loan book (including TLTRO) grew by 9% YOY
- On QAB basis, CASA and RTD deposits grew 16% YOY. CASA ratio at 42%, improved 232 bps YOY and 158 bps QOQ
- On QAB basis, SA grew 14% YOY and 4% QOQ, Retail SA grew 20% YOY, CA grew 15% YOY and 4% QOQ
- Retail SA witnessed broad based growth of 19% YOY led by our focus on deepening and premiumisation
Robust operating performance
- Reported NII up 14% YOY; NII before interest reversal was up 19% YOY
- Reported NIM stood at 3.59% for Q3FY21, NIM before interest reversal stood at 3.89%
- Fee income grew 5% YOY and 6% QOQ. Retail fee contributed 64% of overall fees
- Operating profit grew 6% YOY to `6,096 crores, Core* operating profit was up 10% YOY
Balanced performance across business segments
- Retail loans grew 9% YOY and 4% QOQ, 81% of Retail book is secured,
- Disbursements in secured segments like HL, LAP & Auto were up 23% YOY, 11% YOY and 10% YOY, SBB disbursement up 35% YOY
- Corporate loans (incl. TLTRO investments) grew 11% YOY, SME loans grew 6% QOQ and are 91% secured
- 94% of incremental sanctions in Corporate were A- and above
Maintain leadership position in Digital
- For 9MFY21 period, the Bank retains leadership position in Digital with 19% market share in UPI transactions & 17% in Mobile Banking
- Our focus is on reimagining end-end journeys, transforming our core and becoming a partner of choice for ecosystems
Well capitalized with adequate liquidity buffers
- Overall capital adequacy (incl. profit for 9M) stood at 19.31% with CET 1 ratio of 15.36% as at the end of Dec'20
- Average Liquidity Coverage Ratio (LCR) during Q3FY21 was 106%, exit LCR at the end of Q3 FY21 was ~ 119%
- Average excess SLR during Q3FY21 was `51,886 crores
Strengthening and derisking of Balance Sheet
- GNPA declined from 5.00% to 3.44% YOY, absent standstill benefit GNPA declined from 5.00% to 4.55% YOY
- PCR absent standstill benefit at 75%, improved 15% YOY,
- SACR improved from 0.74% to 2.08% YOY and Coverage ratio improved from 74% to 116% YOY
- Limited restructured loans at 0.42% of GCA, overall provision coverage of 26%, unsecured retail provided at 100%
Our key subsidiaries have delivered strong performance
- Axis AMC’s PAT for 9MFY21 grew 140% YOY to `164 crores
- Axis Securities PAT for 9MFY21 period at `118 crores was over 7x of its full year FY20 PAT
- Axis Finance asset quality metrics remain stable with net NPA of 1.7%, nil restructuring
- Axis Capital completed 37 transactions in 9MFY21
The domestic subsidiaries reported a total PAT of `541 crores in 9MFY21, up 72% YOY and already at 113% of total subsidiary FY20 profits
QAB: Quarterly Average Balance
* Operating profit excluding trading profit and exchange gain on capital repatriated from overseas branch
Coverage Ratio = Aggregate provisions (specific + standard + additional + COVID) / IRAC GNPA
Standard Assets Coverage Ratio (SACR) = Standard asset provisions plus additional provisions plus COVID provision / Standard loans