The credit agencies are relatively rating the bank to be in a solid position. Thus, AXISBANK could continue its slightly upwards trend.
Axis Bank Ltd. (NSE:AXISBANK), is in a decreasing channel recently, as this could be seen from the graph. Currently, AXISBANK is exchanged at $ 1037.55 per share, which is slightly higher than the last few days.
The large value gains at the end of April are mainly explained by the most recent financial indicators of the bank, which were published on April 27, 2012. Net Profit during Q4- FY12 rose to 1,277 crores from 1,020 crores in Q4 – FY11. In fact, this marked a growth of 25% year to date. Net Profit for FY-2012 was at 4,242 crores, , while the number for FY11 were 3,388. Again the percent increase was of 25%..
Moreover, demand deposits grew by 18% YOY from `77,767 crores as on March 31, 2011 to `91,422 crores as on March 31, 2012. Additionally, savings Bank deposits in the same period grew by 26% YOY, while current account deposits increased by 8%.
The Bank could recover its higher values because of its latest indicators. Axis’ presence across the country and at the end of Q4FY12, had a network of 1,622 domestic branches and extension counters and 9,924 ATMs situated in 1,050 cities and towns. During the quarter, the Bank added 129 branches and 1,600 ATMs.
Company Info:
CEO – Shikha Sharma.
Axis Bank Ltd. is an India-based bank. It operates in four segments: treasury operation, which includes investments in sovereign and corporate debt, equity funds, trading operations, derivative trading and foreign exchange operations on the account.
Additionally, its retail banking includes lending to individuals/small businesses, liability products, card services, Internet banking, automated teller machines services, depository, and nonresident Indian services.
The corporate/wholesale banking division includes corporate relationships not included under retail banking. These services refer to corporate advisory services, placements and syndication, project appraisals, capital market related services, and cash management services, and other banking business
Disclaimer:
The information in this analysis is collected from different sources and should serve for informative purposes only. The author shall not be held responsible for the validity of the presented information. No part of this analysis recommends the purchase or sale of a currency pair or any other financial instrument.
