Axis Bank Gold Loan News - Apr 2021
- 2021-02-26 : IRDAI gives approval for Axis Entities-Max Life Insurance deal
The Insurance Regulatory and Development Authority of India has given its approval to acquire up to 12% stake in Max Life Insurance by Axis Bank and its subsidiaries, Axis Capital and Axis Securities. The IRDAI approval was an important venture transaction that was first announced in April 2020 - 2021-01-28 : Axis Bank Q3 net profit down 36%
Axis Bank reported a 36% drop in its net profit in the December quarter. Profit declined to Rs 1,116 crore from Rs 1,757 crore in the same period last year. Provisions in the quarter increased 33% to Rs 4,604 crore against Rs 3,470 crore in the year-ago period . Net interest income (NII), the difference between the interest earned and that paid on deposits which includes FD and RDs rose 14% to Rs 7,372.7 crore - 2020-10-30 : Axis Bank reported a net profit of ₹1,623 crores in Q2
Axis Bank reported a net profit of ₹1,682.67 crores in the Q2 of FY21, as against a loss of ₹112 crores in the same period last year. The net interest income increased 20% y-o-y to ₹7,326 crore and its net interest margin (NIM) stood at 3.58%. Further, retail loans which include home, personal, gold, two-wheeler, gold and car loan grew 12% y-o-y to ₹3.05 trillion, accounting for 53% of the net advances of the bank. - 2020-07-02 : Axis Bank delivers strong loan growth
Axis Bank reported a 4.53% year-on-year rise in profit, the profit reached at Rs 1,757 crore. Banks loan book grew backed by retail loan- car, two-wheeler, gold and personal loan- book grew 25% by almost Rs 28,500 crore on a quarterly basis and the domestic loan growth stood at 18%. - 2019-04-18 : Axis Bank formulates FY20-22 strategy to strenghten its core business
Private sector lender, Axis Bank has made a new strategy for FY20-22 to achieve a strong growth across its retail lending segment. The lender will focus on higher-yielding retail lending products such as personal loans, credit cards, rural, and small business banking. In addition to this, the bank will also continue to maintain steady asset quality by giving retail loans to existing deposit customers.
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