• Q1 FY26
  • Quarter-1 Results 2025-26

Major Highlights of

Q1FY26

Q1FY26 Operating Profit at `11,515 cr up 14% YOY and 7% QOQ

Operating performance aided by controlled cost growth and higher non-interest income

  • Net Interest Income up 1% YOY and down 2% QOQ, Net Interest Margin (NIM) at 3.80%
  • Non-interest income grew 25% YOY, Fee income grew 10% YOY, granular fee constituted 91% of overall fees, Retail fee grew 9% YOY
  • Operating revenue up 8% YOY, Operating expenses grew 2% YOY and down 5% QOQ, operating jaws positive
  • Cost to assets at 2.41% declined 13 bps YOY, 5 bps QOQ

Focus on average deposits continue, MEB deposit growth remains steady

  • YOY MEB | QAB basis, total deposits grew 9% | 8%; term deposits grew 12% | 12%, CA grew 9% | 4%, SA grew 3% | 1%, respectively
  • QOQ QAB basis total deposits grew 2%, term deposits grew 2%, SA grew 3%
  • MEB | QAB CASA ratio at 40% | 38%, Avg. LCR Outflow rates improved by 150 bps over the last one year
  • Q1FY26 cost of funds remained in a tight range with 5 bps decrease YOY and 11 bps decrease QOQ

SBB+SME+MC growth remains healthy

  • SBB+SME+MC mix at ₹2,472 bn | 23% of total loans, up ~820 bps in last 4 years
  • Advances grew 8% YOY & 2% QOQ; Bank’s focus segments* grew by 11% YOY and 1% QOQ
  • SME loans up 16% YOY and 2% QOQ, Corporate loans up 9% YOY and 6% QOQ, Mid-Corporate (MC) up 24% YOY and 15% QOQ
  • SBB1 book grew 15% YOY and 1% QOQ, Retail loans grew 6% YOY of which Rural loans grew 5% YOY

Well capitalized with self-sustaining capital structure; adequate liquidity buffers

  • Self sustaining capital structure with net accretion^ to CET-1 of 62 bps YOY and 1 bps in Q1FY26
  • Overall capital adequacy ratio (CAR) stood at 16.85%, CET 1 ratio of 14.68%
  • Additional cushion of ~36 bps over the reported CAR, attributable to other provisions of `5,012 crores not included in CAR calculation
  • Excess SLR of `96,608 crores. Avg. LCR during Q1FY26 was ~119%

Continue to maintain our strong position in Payments and Digital Banking

  • Axis Bank continues to maintain its market leading position in UPI Payer PSP space with a market share of ~ 32% (both by value and volume)
  • Continues to be amongst the largest players in Merchant Acquiring business in India with a terminal market share of ~19.7%2
  • ~0.79 million credit cards acquired in Q1FY26, CIF market share of ~14%2
  • Open by Axis Bank continue to be among the top rated mobile banking app on Google Play store and iOS store with a rating of 4.7 and 4.8, with ~15 mn MAU

Asset quality trend attributable to Technical Impact#
(See slide 44 of Q1FY26 investor presentation for more details)

  • GNPA at 1.57% up 3 bps YOY and 29 bps QOQ, NNPA at 0.45% up 11 bps YOY and 12 bps QOQ
  • PCR healthy at 71%, Coverage3 ratio at 138%,
  • Gross slippage ratio (annualized) at 3.13% up by 123 bps QOQ , Net slippage ratio (annualized) at 2.33% up 152 bps QOQ
  • Net credit cost (annualized) at 1.38%, up 88 bps QOQ, Q1FY26 (annualized) provisions to average assets at 1% up 65 bps QOQ

Key subsidiaries delivered steady performance

  • Total Q1FY26 PAT of domestic subsidiaries at `451 crores, up 4% YOY; Return on investments of ~ 47% in domestic subsidiaries
  • Axis Finance Q1FY26 PAT at `189 crores up 23% YOY, Stable asset quality metrics with net NPA at 0.35%
  • Axis AMC’s Q1FY26 PAT at `130 crores up 12% YOY, Axis Securities Q1FY26 PAT at `89 crores
  • Axis Capital Q1FY26 PAT at `38 crores and executed 6 ECM deals in Q1FY26

*Bank’s focus segments include Small Business Banking (SBB), Small & Medium Enterprises, (SME), Mid Corporate, Rural, Personal Loans (PL) and Credit Card Advances
QAB: Quarterly Average Balance;
MEB: Month End Balance;
MAU: Monthly Active Users engaging in financial & non-financial transactions;
^ Net accretion = capital accreted – capital consumed
1 SBB : Small Business Banking;
2 Based on RBI data as of May’25;
3 Coverage Ratio = Aggregate provisions (specific + standard + additional + other contingencies) / IRAC GNPA;
# The prudent application of technical parameters for recognizing slippages and consequent upgrades impacted reported asset quality parameters including provisions and contingencies for the quarter ended June 30, 2025 ("Technical Impact"). Impact on PAT = (`614 crores); Impact on ROA% = (15 bps); Impact on ROE% = (1.4%)

Key Metrics for Q1FY26

Snapshot (As on June 30th, 2025) (in ` Crores)

Profit & Loss Absolute (in ` Crores) YOY Growth QOQ
  Q1FY26 Q1FY25 Q4FY25    
Net Interest Income 13,560 13,448 13,811 1% (2%)
Fee Income 5,746 5,204 6,338 10% (9%)
Operating Expenses 9,303 9,125 9,838 2% (5%)
Operating Profit 11,515 10,106 10,752 14% 7%
Core Operating Profit 10,095 9,637 10,575 5% (5%)
Profit after Tax 5,806(1) 6,035 7,117 (4%) (18%)

(1) For Technical Impact see slide 44 of Q1FY26 investor presentation

Balance Sheet Absolute (in ` Crores) YOY Growth
  Q1FY26  
Total Assets 16,03,308 9%
Net Advances 10,59,724 8%
Total Deposits 11,61,615 9%
Shareholders' Funds 1,84,795 17%

 

Key Ratios Absolute (in ` Crores)  
  Q1FY26 Q1FY25
Diluted EPS (Annualised in `) 74.75 77.79
Book Value per share (in `) 596 511
Standalone ROA (Annualised) 1.47%(1) 1.65%
Standalone ROE (Annualised) 13.14%(1) 16.26%
Cons ROA (Annualised) 1.51% 1.70%
Cons ROE (Annualised) 13.57% 16.68%
Gross NPA Ratio 1.57%(1) 1.54%
Net NPA Ratio 0.45%(1) 0.34%
Basel III Tier I CAR^ 15.10% 14.52%
Basel III Total CAR^ 16.85% 16.65%

^ including profit after tax for the periods
(1) For Technical Impact see slide 44 of Q1FY26 investor presentation

Deposits 9% YOY (a)   8% YOY (b)
CASA

5% YOY (a) | 2% YOY (b)

(a) Period end balances (b) Quarterly average balance

Advances 8% YOY
Retail
SME
Corporate

6% YOY | 16% YOY | 9% YOY

 

Operating Profit (in ` Crores) 14% YOY
  • Q1FY26
    11,515
  • Q1FY25
    10,106
Profit After Tax (in ` Crores) 4% YOY
  • Q1FY26(1)
    5,806
  • Q1FY25
    6,035

(1) For Technical Impact see slide 44 of Q1FY26 investor presentation

We have a very well distributed branch network

Domestic Branch Network*  
  • Jun-25
    5,879
  • Mar-25
    5,876
  • Mar-24
    5,377
  • Mar-23
    4,903
  • Mar-22
    4,758

* Includes extension counters

Performance at a Glance

Performance at a Glance

Operating performance aided by higher non-interest income and effective cost control

  • Net Interest Income up 1% YOY and down 2% QOQ, Net Interest Margin (NIM) at 3.80%
  • Non-interest income up 25% YOY, Fee income up 10%, Retail fee up 9%, granular fees at 91% of total fees
  • Cost to assets at 2.41% declined 13 bps YOY and 5 bps QOQ

Focus on average deposits continue, MEB deposit growth remains steady

  • YOY MEB1 | QAB1, total deposits up 9% | 8%; term deposits up 12% | 12%, CA up 9% | 4%, SA up 3% | 1% MEB1 | QAB1 CASA ratio at 40% | 38%, respectively
  • Average LCR2 during Q1FY26 was ~119%, outflow rates improved ~150 bps over the last one year Cost of funds declined 5 bps YOY and 11 bps QOQ

SBB+SME+MC growth remains healthy

  • SBB+SME+MC mix at `2,472 bn | 23% of total loans, up ~820 bps in last 4 years
  • Advances grew 8% YOY and 2% QOQ; Bank’s focus segments* grew by 11% YOY and 1% QOQ
  • SME loans up 16% | 2%, Corporate loans up 9% | 6%, Mid-Corporate (MC) up 24% | 15%, on YOY | QOQ basis
  • SBB book grew 15% YOY and 1% QOQ, Retail loans grew 6% YOY of which Rural loans grew 5% YOY

Well capitalized with self-sustaining capital structure; adequate liquidity buffers

  • Overall capital adequacy ratio (CAR) stood at 16.85%, CET 1 ratio of 14.68%, up 62 bps YOY
  • Additional cushion of ~36 bps over the reported CAR, attributable to other provisions ^ of `5,012 crores
  • Excess SLR of `96,608 crores.

Continue to maintain our strong position in Payments and Digital Banking

  • open by Axis Bank remains among the world’s top rated3 MB app on Google Play store and iOS app store with a rating of 4.7 and 4.8 respectively ~15 mn MAU4
  • ~0.79 million credit cards acquired in Q1FY26, CIF market share of ~14%

Asset quality trend attributable to Technical Impact
(see slide 44 of Q1FY26 investor presentation)

  • GNPA at 1.57% up 3 bps YOY and 29 bps QOQ, NNPA at 0.45% up 11 bps YOY and 12 bps QOQ
  • PCR healthy at 71%; On an aggregated basis5, Coverage ratio at 138%
  • Gross slippage ratio6 at 3.13%, Net slippage ratio6 at 2.33%, Net credit cost6 at 1.38%
  • Provisions to average assets ratio6 at 1% up 65 bps QOQ

Key domestic subsidiaries7 delivered steady performance

  • Q1FY26 total profit at `451 crores up 4% YOY, with a return on investment in domestic subsidiaries of 47%
  • Axis Finance Q1FY26 PAT grew 23% YOY to `189 crores ; asset quality metrics stable, ROE at 13.98%
  • Axis AMC Q1FY26 PAT grew 12% YOY to `130 crore,
  • Axis Securities customer base grew 15% YOY and Q1FY26 PAT stood at `89 crores Axis Capital Q1FY26 PAT stood at `38 crores and executed 6 ECM deals in Q1FY26

*Bank’s focus segments include Small Business Banking (SBB), Small & Medium Enterprises, (SME), Mid Corporate, Rural, Personal Loans (PL) and Credit Card Advances
^ not included in CAR calculation
1 MEB: Month End Balance, QAB: Quarterly Average Balance
2 Liquidity Coverage Ratio
3 with 3.1 mn+ reviews
4 Monthly active users, engaging in financial and non-financial transactions
5 (specific+ standard+ additional + other contingencies) / IRAC GNPA
6 Annualized
7 Figures of subsidiaries are as per Indian GAAP, as used for consolidated financial statements of the Group

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