You are here: Home » Finance » News » Banks

ICICI Bank spars with NPCI over PhonePe

ICICI Bank spars with NPCI over Flipkart's PhonePe: All you should know

Business Standard

Axis Bank Q3 net plunges 73% to Rs 580 cr

Axis Bank's loan portfolio quality deteriorated, with gross NPAs rising to 5.22% of gross advances

Axis Bank

Abhijit Lele & Anup Roy  |  Mumbai 

A sharp drop in Axis Bank’s net profit for the December quarter due to higher provisions for bad loans overshadowed better perfomance by Federal Bank, YES Bank and Lakshmi Vilas Bank. The Mumbai-based private lender’s net profit dipped 73 per cent to Rs 580 crore, from Rs 2,175 crore a year before.

Federal Bank, YES Bank and Lakshmi Vilas Bank on Thursday reported 26-70 per cent rise in net profit for the December quarter. Axis Bank’s loan portfolio quality deteriorated, with gross non-performing assets (NPAs) rising to 5.22 per cent of gross advances; this was ...

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Fri, January 20 2017. 03:44 IST