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Axis Bank's Net Interest Income in Q4FY20 grew by 19% YoY to Rs 6,808cr, while NIM came in at 3.55%. NNPA declined to 1.56%, from 2.09% on QoQ basis. During the quarter, the bank has made provisions of Rs 7,730cr including Rs 3,000cr related to COVID. Therefore, it reported net loss of Rs 1,388 cr. The bank has recognized slippages of Rs 3,920cr during Q4FY20 (up 30% YoY). In the loan book, retail loans accounted for 53%, while 80% of retail book is secured.
View: Axis Bank has reported weak set of numbers particularly on the profitability front. However, there has been an improvement in its asset quality during the quarter. Although the stock will be under pressure in near-term, long-term investors can continue to hold the stock and fresh investments can be made on dips.
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