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Axis Bank's Q4 loss reflects rise in systemic risks in banking sector: S&P

Axis' credit costs for the quarter ended March 31, 2020 are higher than anticipated, but some of it is precautionary

Topics
Axis Bank results | Axis Bank | Standard and Poor's

BS Reporter  |  Mumbai 



Axis Bank
Axis identified that more than 10% of its customers (25% of its loan book by value) as at April 25, 2020, availed a payment moratorium

Rating agency Standard and Poor’s (S&P) said today that private sector lender Ltd's results for the year ended March 31, 2020, underscore high levels of stress and uncertainty across the Indian banking system. Lender reported loss of Rs 1,400 crore in the fourth quarter as bank made a higher provision for bad loans including those relating to Covid-19 pandemic.

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First Published: Wed, May 06 2020. 02:22 IST

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