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Yes Securities Report
Of the gross slippages during the quarter, Rs 4.10 billion were non-recurring or prudent items. Axis Bank Ltd.'s provisions for the quarter were Rs 14.38 billion, up by 161% QoQ and 7.7% YoY, which translated to a credit cost of 65 basis points on annualised basis. The provisions contained non-recurring provisions worth Rs 3.4 illiobn, which implies that underlying credit costs were 53 bps on annualised basis. The total non-non performing asset provisions amount to Rs 116.33 billion and all provisions taken together provide a 139% coverage on gross non performing asset.
The share of loans and investment in total assets was 87%, up 300 bps YoY. The Rural Infrastructure Development Fund book has declined as a share of assets to 2.7% as of December 2022 from 3.8% a year ago.
The share of Indian rupee-denominated loans was 93.3% of total advances, up 290 bps YoY. Further, the share of retail and CBG loans was 67% of total advances, up 195 bps YoY. Also, the share of mid corporate loans, small and medium enterprise and small business banking is 20%, which is up about 510 bps in two years.
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More Research Reports On Axis Bank's Q3 FY23 Results Reviews
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