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AXIS Bank : One of the leading private banks of India announced its third Q3 results. Axis Bank reported a phenomenal rise in its standalone net profit for the third quarter ended December 2008. During the quarter, the profit of the bank rose 63.24% to Rs 500.86 crore or Rs 5,008.60 million from Rs 306.83 crore or Rs 3,068.30 million in the same quarter, last year.
Interest earned for the quarter jumped 65.61% to Rs. 2984.77 crore or Rs 29,847.70 million, while total income for the quarter climbed 62.29% to Rs. 3716.94 crore or Rs 37,169.40 million, when compared with the prior year period.
Its standalone net interest income (NII) was up 24.4% at Rs 929.68 crore versus Rs 747.34 crore. Its other income was up 50 % at Rs 732.17 crore versus Rs 487.9 crore. The provisions were down 34% at Rs 131.98 crore versus Rs 200.05 crore.
Its CAR was at 14% versus 16.88%. Its NPA was at 0.39% versus 0.42%. The bank reported earnings of Rs 13.95 a share during the quarter, registering 47.78% growth over previous year period.
Segment analysis -Revenues
Retail banking up 50.70% at Rs 1758.65 crore versus Rs 1166.98 crore
Treasury up 85.51 % at Rs 5840.5 crore versus Rs 3148.37 crore
Corp.. banking up 66.39% at Rs 2016 crore versus Rs 1211.62 crore
Segment analysis -Results
Retail banking down 58% at Rs -6.34 crore versus Rs -15.11 crore
Treasury up 89.13 % at Rs 325.32 crore versus Rs 172.01 crore
Corp.. banking up 47.61% at Rs 466.74 crore versus Rs 316.2 crore
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