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Valuation comfort likely to limit downside for Axis Bank's stock

Loan growth was healthy at 16 per cent YoY and 7 per cent quarter-on-quarter or QoQ (ex-Citi)

Photo: Bloomberg
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Photo: Bloomberg

Devangshu Datta

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Axis Bank’s results for the fourth quarter of the 2022-23 financial year (Q4FY23) were skewed due to large one-off charges related to its acquisition of Citi’s retail business. Axis reported a loss of Rs 5,730 crore on account of exceptional items of Rs 12,350 crore (net of tax) towards Citi’s acquisition, policy harmonisation etc. Excluding this one-off, the adjusted net profit or profit after tax (PAT) would be Rs 6,630 crore, up 61 per cent year-on-year (YoY).  

Loan growth was healthy at 16 per cent YoY and 7 per cent quarter-on-quarter or QoQ (ex-Citi). Deposit growth was also good with

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First Published: Apr 28 2023 | 10:29 PM IST

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