Axis Bank, backed by healthy growth in net interest and fees income, reported a 22 per cent growth in net profit for the financial year ended March 31, 2013, at Rs. 5,179 crore as compared to Rs. 4,242 crore in the previous year.
For the fourth quarter ended March 31, 2013, the bank has also reported 22 per cent growth in net profit at Rs. 1,555 crore as against Rs. 1,277 crore in the corresponding quarter of the previous year.
The bank’s net interest income (NII) rose by 21 per cent year on year to Rs 9,666 crore during the financial year 2012-13 from Rs 8,018 crore during the previous year. NII for the fourth quarter was Rs. 2,665 crore against Rs. 2,146 crore in the same quarter of the previous year.
The bank’s balance sheet has grown 19 per cent to Rs. 3,40,561 crore as on 31 March 2013. Its advances grew 16 per cent year on year to Rs. 1,96,966 crore. Retail advances grew 44 per cent year-on-year to Rs. 53,960 crore.
The directors have proposed a dividend of Rs. 18 per share.
As on 31 March 2013, gross NPAs and net NPAs stood at 1.06 per cent and 0.32 per cent, as against 1.10 per cent and 0.33 per cent respectively as on December 31, 2012.