Net Interest Income is expected to increase by 5.6 percent Y-o-Y (up 5.5 percent Q-o-Q) to Rs. 4,992.4 crore, according to ICICI Direct.
ICICI Direct has come out with its fourth quarter (Jan-March’ 18) earnings estimates for the Banking & Financial Services sector. The brokerage house expects Axis Bank to report net profit at Rs. 947.5 crore down 22.7% year-on-year (up 30.4% quarter-on-quarter).
Net Interest Income is expected to increase by 5.6 percent Y-o-Y (up 5.5 percent Q-o-Q) to Rs. 4,992.4 crore, according to ICICI Direct.
ICICI Direct’s earnings estimates for Axis Bank
Axis Bank's previous quarter was a healthy overall with slippages and GNPA witnessing a decline. However, in Q4FY18, owing to lack of resolutions in the large NCLT cases (exposure of Rs. 7,000 crore), RBI's new NPA framework and a large telecom account turning technically NPA, we expect bank's slippages and GNPA to be relatively higher QoQ. Business growth is expected to be decent with loan traction of 18% YoY to Rs. 440,222 crore and deposit growth of 9% YoY to Rs. 451,782 crore. With margins estimated steady QoQ at 3.4%, NII growth may stay in single digit at 5.6% YoY to Rs. 4,992 crore. PAT is seen at Rs. 947 crore.
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