AXIS BANK

Axis Bank is the third-largest private bank of India promoted by Specified Undertaking of Unit Trust of India (SUUTI) known as Unit Trust of India, jointly in 1993. Axis bank has a broad customer base including Large and Mid-Corporates, MSMEs, Agricultural and retail businesses and individuals. The shareholding pattern of Axis bank is as follows: foreign institutional investors with 51.43%, domestic institutional investors with 23.27%, promoters with 13.58% and the public with 11.72%.

As per Q4 results released yesterday, the board of directors decided not to propose any dividend for the year ended on 31st March 2021. The net profit for Q4 grew to Rs. 2,677 Cr. against the loss in Q3 of Rs. 1,388 Cr and CASA on quarterly average balance basis up by 18% YoY and 7% QoQ. Net NPA ratio increased 1.05, down 14 bps sequentially. Also, Axis bank allotted Rs.1,00,500 equity shares of Rs. 2/- each under Employee Stock Option Plan (ESOP).

The Q4 result of Axis Bank showed magnificent growth.