Axis Bank Q4 net profit soars 54% to Rs 4,118 cr; NII up 17%

Lender's board recommends dividend of Rs 1 per equity share for the year ended 31 March, 2022.

Axis Bank, one of the largest private sector lenders in India, on Thursday reported a 54 percent year-on-year growth in standalone profit of Rs Rs 4,118 crore, compared to Rs 2,677 crore in same period last year, the bank said in its BSE filing.

Net interest income (NII), the difference between interest earned and interest expended, grew by 16.7 percent year-on-year to Rs 8,819 crore. It was ₹7,555 crore in the corresponding quarter of last year.

Bank's credit growth of 15 percent and deposits growth of 19 percent for March 2022 quarter.

Net interest margin (NIM) for quarter stood at