External broker reports(aggregated public sources), Motilal Oswal Financial Services Limited

Motilal Oswal

External broker reports(aggregated public sources)

Motilal Oswal Financial Services Limited

Motilal Oswal Financial Services Limited is an Indian diversified financial services firm offering a range of financial products and services. 

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Equity Bottom-Up

<ul><li>Axis Bank (AXSB) reported 2QFY25 net profit of INR69.2b (up 18% YoY, 4% beat) as tax reversals and treasury gains offset higher provisions.</li><li>In 1HFY25, earnings grew 11% YoY to INR129b, and we expect 2H earnings to stay flat YoY at INR133b.</li><li>NII was up 9.5% YoY/flat QoQ at INR134.8b (in line).</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Axis Bank (AXSB) reported 2QFY25 net profit of INR69.2b (up 18% YoY, 4% beat) as tax reversals and treasury gains offset higher provisions.In 1HFY25, earnings grew 11% YoY to INR129b, and we expect 2H earnings to stay flat YoY at INR133b.NII was up 9.5% YoY/flat QoQ at INR134.8b (in line).Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Axis Bank - One-Offs Aid Earnings; Provisioning Buffer Fortified

External broker reports(aggregated public sources), Emkay Global Financial Services Limited

Emkay

Emkay Global Financial Services Limited

Emkay Global Financial Services Ltd. is a leader in the financial services sector, actively creating wealth for our clients for over two decades. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>Axis Bank reported another soft quarter with credit growth slipping to 11% YoY, while higher slippages/w-offs led to elevated provisions (including contingent provisions).</li><li>However, higher treasury gains and favorable tax judgement led to 10% PAT beat at Rs69bn.</li><li>Credit growth moderation was mainly driven by contraction in low-yielding corporate book and retail book (housing/ VF/ PL).</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Axis Bank reported another soft quarter with credit growth slipping to 11% YoY, while higher slippages/w-offs led to elevated provisions (including contingent provisions).However, higher treasury gains and favorable tax judgement led to 10% PAT beat at Rs69bn.Credit growth moderation was mainly driven by contraction in low-yielding corporate book and retail book (housing/ VF/ PL).Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Axis Bank - Another Soft Quarter Marked with Slower Growth, Higher NPAs

External broker reports(aggregated public sources), ICICI Securities Ltd

ICICI Securities Limited

ICICI Securities Ltd

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory services. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>Despite 9% YoY growth in NII, Axis Bank (Axis) reported Q2FY25 PAT of INR 69.2bn, up 18% YoY, driven by strong treasury gains (INR 11.1bn) and contained opex.</li><li>The bank utilised favourable tax provisions w-back (INR 5.4bn) towards prudential provisions (INR 5.2bn).</li><li>Core NIM was flattish QoQ at 3.99% as cost of deposits was flat.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Despite 9% YoY growth in NII, Axis Bank (Axis) reported Q2FY25 PAT of INR 69.2bn, up 18% YoY, driven by strong treasury gains (INR 11.1bn) and contained opex.The bank utilised favourable tax provisions w-back (INR 5.4bn) towards prudential provisions (INR 5.2bn).Core NIM was flattish QoQ at 3.99% as cost of deposits was flat.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Axis Bank - Business Growth Soft; Retail Slippages Elevated but Overall Asset Quality Stable

External broker reports(aggregated public sources), Prabhudas Lilladhar

Prabhudas Lilladhar

Prabhudas Lilladher is one of India's leading research based financial services organisation.

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>Prabhudas Lilladher's research report onAxis Bank AXSB delivered a good quarter as core PPoP beat PLe by 3.6% driven by better fees and NII.</li><li>While loan growth at 14.2% YoY was a slight miss (86bps), reported NIM increased by 5bps QoQ to 4.06%, which was a positive given NIM environment is tough.</li><li>Balance sheet profile has been improving since (1) share of higher yielding retail (incl.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Prabhudas Lilladher's research report onAxis Bank AXSB delivered a good quarter as core PPoP beat PLe by 3.6% driven by better fees and NII.While loan growth at 14.2% YoY was a slight miss (86bps), reported NIM increased by 5bps QoQ to 4.06%, which was a positive given NIM environment is tough.Balance sheet profile has been improving since (1) share of higher yielding retail (incl.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Axis Bank - Balance Sheet Profile to Cushion NIM

<ul><li>Emkay Global Financial's research report onAxis Bank Despite slower credit growth at 14% YoY/3.5% QoQ, Axis Bank reported 5bps QoQ margin expansion, mainly on a contained rise in CoF and steady increase in share of retail portfolio.</li><li>This, along with higher trading gains, partly offset by elevated opex &amp; provision, led to a 5% beat on PAT at Rs71.3bn.</li><li>Mgmt guides systemic credit growth slowing down in FY25, but expects Axis Bank to outgrow the system mainly led by continued traction in retail which, in turn, should support its margins.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Emkay Global Financial's research report onAxis Bank Despite slower credit growth at 14% YoY/3.5% QoQ, Axis Bank reported 5bps QoQ margin expansion, mainly on a contained rise in CoF and steady increase in share of retail portfolio.This, along with higher trading gains, partly offset by elevated opex &amp; provision, led to a 5% beat on PAT at Rs71.3bn.Mgmt guides systemic credit growth slowing down in FY25, but expects Axis Bank to outgrow the system mainly led by continued traction in retail which, in turn, should support its margins.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Axis Bank - Steady Retail Build-Up Aids Margin Expansion

India

Axis Bank Limited provides a full range of banking services throughout India. The Group's activities include retail banking, investment management, merchant banking, treasury and NRI services, cash and credit management services, and ATM facilities.

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Axis Bank Ltd (AXSB IN)

Axis Bank - One-Offs Aid Earnings; Provisioning Buffer Fortified

Axis Bank (AXSB) reported 2QFY25 net profit of INR69.2b (up 18% YoY, 4% beat) as tax reversals and treasury gains offset higher provisions.

Motilal Oswal

Axis Bank - Another Soft Quarter Marked with Slower Growth, Higher NPAs

Axis Bank reported another soft quarter with credit growth slipping to 11% YoY, while higher slippages/w-offs led to elevated provisions (including...

Emkay

Axis Bank - Business Growth Soft; Retail Slippages Elevated but Overall Asset Quality Stable

Despite 9% YoY growth in NII, Axis Bank (Axis) reported Q2FY25 PAT of INR 69.2bn, up 18% YoY, driven by strong treasury gains (INR 11.1bn) and...

ICICI Securities Limited

Axis Bank - Balance Sheet Profile to Cushion NIM

Prabhudas Lilladher's research report onAxis Bank AXSB delivered a good quarter as core PPoP beat PLe by 3.6% driven by better fees and NII.

Prabhudas Lilladhar

Axis Bank - Steady Retail Build-Up Aids Margin Expansion

Emkay Global Financial's research report onAxis Bank Despite slower credit growth at 14% YoY/3.5% QoQ, Axis Bank reported 5bps QoQ margin expansion

Emkay

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