On a standalone basis, the third largest private sector lender reported a 70 per cent increase in its profit after tax for the July-September period at Rs 5,329.77 crore.
Bank’s income from investments rose at a good pace of over 27% to Rs 4,477.47 crore in the quarter, as against Rs 3,521.64 crore.
The regulator said it has cleared the "acquisition of Citibank, N.A.'s and Citicorp Finance (India) Limited's undertakings comprising of their consumer banking activities by Axis Bank".
The overall non-interest income fell 11% to Rs 2,999 crore, mainly driven by a Rs 667 crore reversal in treasury operations due to mark-to-market losses as the yields harden.
Till now, only authorised public sector banks were utilised to provide services like issuance of letter of credit and direct bank transfers to the ministry for overseas procurement.
Axis AMC has been conducting a Suo moto investigation since February 2022, with assistance from reputed external advisors.
The MPC next meets on June 6-8 where financial market analysts broadly expect rates to be raised by 35/40-75 bps.
SBI raised its MCLR by 10 basis points or 0.1 percentage point across all tenures, while the other three have raised it by 5 bps, or 0.05 percent across the board.
Purchased for $1.6 bn in an all-cash deal; to integrate 3 mn unique Citibank customers.
The intent behind this initiative is to give these women the confidence that they are employable, they have skills and they can fit in various job roles in a bank.
All India Bank Employees' Association demands nationalisation of ICICI Bank, Axis Bank in view of recent scams
AIBEA demands Union Government to Nationalise ICICI Bank and Axis Bank as there are serious charges of corruption and nepotism in sanction of loans.
In wake of the fraud being detected by Punjab National Bank, Axis Bank on Thursday wrote to National Stock Exchange and Bombay Stock Exchange.
The fraudulently issued Letters of Undertaking (LoUs) from the Mumbai branch of Punjab National Bank (PNB) were in favour of Hong Kong branches of Allahabad Bank and Axis Bank.
Axis Bank said on Thursday that it had dealt in transactions that had been guaranteed with letters of undertaking from Punjab National Bank, but it had since sold those transactions.
The charges would apply to savings as well as salary accounts effective from today, leading private sector player HDFC Bank said in a circular.