Axis Bank has delivered a stellar financial performance for the first quarter ended June 30, 2026, reporting a 22.2 percent year-on-year surge in consolidated net profit to ₹7,632.31 crore. The impressive growth, which comfortably beat market estimates, was primarily driven by a significant 42.1 percent drop in provisions and contingencies, which fell to ₹2,337.47 crore from ₹4,034.19 crore in the year-ago period.
The lender witnessed steady growth across its core metrics, with consolidated total income increasing by 7 percent to ₹43,212.82 crore. A key performance indicator, the net interest income (NII), registered a healthy 8.6 percent growth to reach ₹15,327.26 crore, up from ₹14,109.62 crore last year. Axis Bank’s balance sheet also expanded robustly, with consolidated advances rising 19.3 percent year-on-year to ₹13.16 trillion, while total deposits grew 18.2 percent to hit ₹13.71 trillion. Retail banking maintained its status as the group’s largest revenue segment, where profit before tax more than doubled to ₹3,851.40 crore.
On the asset quality front, the bank showcased marked improvement. On a standalone basis, the gross non-performing asset (NPA) ratio declined by 29 basis points to 1.28 percent, while the net NPA ratio fell to 0.39 percent. Meanwhile, the bank’s capital adequacy ratio stood comfortably at 16.67 percent. In a separate corporate development, Axis Bank disclosed that its subsidiary, Axis Finance, issued fresh equity shares worth ₹750 crore to Kedaara Capital entities on July 13. This transaction diluted Axis Bank’s stake to 94.92 percent, meaning Axis Finance has now officially ceased to be a wholly-owned subsidiary.
