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Axis Bank-Citi deal: Synergies seen FY25 onwards on deposit, AUM attrition

The higher deposit run-down, coupled with optically higher loss in Q4, could weigh on the stock performance in the near-term

Axis Bank-Citi deal: Synergies seen FY25 onwards on deposit, AUM attrition
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Nikita Vashisht New Delhi
With a double-digit attrition in Citi's deposits and wealth asset under management (AUM), since the announcement of the merger, analysts expect Axis Bank seeing merger synergies playing out only by the second half of financial year 2024-25 (H2FY25).

Moreover, the lender's management has indicated that it will write-off Rs 11,600 crore as goodwill/ intangibles, along with other costs, in the January-March (Q4) quarter of the current financial year (FY23) itself. This, analysts warned, will likely push the bank into one-time loss, or sharply lower the net profit, in Q4. The one-time adjustment could also hit the lender's net worth in

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First Published: Mar 02 2023 | 12:51 PM IST

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