Axis Bank Limited (AXISBANK)
₹1,290.00 +0.16% last close, 16 Oct
Q2 FY27 results
Axis Bank Limited reported Q2 FY27 results on 17 Oct 2026: net interest income ₹16,155 Cr (+12.7% year on year, +5.4% on the previous quarter), and net profit ₹7,705 Cr (+39.4% year on year).
| Q2 FY27 (₹ Cr) | Value | YoY vs Q2 FY26 | QoQ |
|---|---|---|---|
| Net interest income | ₹16,155 | +12.7% | +5.4% |
| Operating profit | ₹12,109 | +8.7% | -3.1% |
| Net profit | ₹7,705 | +39.4% | +0.9% |
| EPS (₹) | 24.76 | +38.9% | +0.9% |
| Gross NPA | 1.16% | — | — |
- Profit +35% above its own trend
- Profit growth came mainly from lower provisions (pre-provision profit +9%)
- Gross NPA down 30 bps YoY
Against its own trend: net profit of ₹7,705 Cr was +35.2% against the ₹5,700 Cr its recent growth pointed to (above trend). This is a statistical baseline, not an analyst estimate.
AXISBANK delivery percentage and open interest
NSE end-of-day data for
On Fri, 16 Oct 2026, 70.75% of the AXISBANK shares traded on NSE were taken to delivery, against the stock's own 20-session average of 62.39%. Delivery was unusually high while the price barely moved (+0.16%). In AXISBANK futures, open interest fell 2.82% while the futures price fell 0.12%: long unwinding (longs closing out).
Delivery in the last 5 sessions: 68.2% · 67.9% · 70.0% · 69.5% · 70.8%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Axis Bank Limited has appointed Rahul Shukla as Group Head, Commercial and Bharat Banking, effective October 19, 2026. Shukla, aged 57, joins as a senior management personnel with over 30 years of experience, previously leading Commercial & Rural Banking at HDFC Bank and heading South Asia Corporate Bank at Citi. The appointment directly targets the bank's strategy to scale its MSME, rural, and semi-urban segments, which have been key focus areas alongside its network of 5,976 domestic branches. This leadership addition brings industry-leading execution capability to the bank's non-urban and commercial expansion.
- Rahul Shukla appointed Group Head, Commercial and Bharat Banking w.e.f. October 19, 2026
- Appointee is 57 years old with over 30 years of experience across Wholesale, Commercial, and Rural Banking
- Previously led the Commercial & Rural Banking group at peer HDFC Bank and held senior roles at Citi
- Board meeting commenced at 9:00 AM IST and approved the agenda at 2:00 PM IST on October 17, 2026
Axis Bank reported a 38% YoY increase in standalone net profit to ₹7,003 crore for Q2FY27, driven by a 12% YoY growth in Net Interest Income (NII) to ₹15,371 crore. Total advances grew 23% YoY to ₹13,73,727 crore, while deposits increased 21% YoY. Asset quality showed solid improvement, with Gross NPA declining 30 bps YoY to 1.16% and Net NPA falling 9 bps YoY to 0.35%. Net credit cost moderated to 0.45% compared to 0.73% a year earlier.
- Net profit increased 38% YoY to ₹7,003 crore for the quarter ended September 30, 2026
- Net Interest Income rose 12% YoY and 5% QoQ to ₹15,371 crore with NIM at 3.36%
- Advances grew 23% YoY to ₹13,73,727 crore, led by 34% growth in corporate and 16% in retail loans
- Asset quality improved with GNPA at 1.16% (down 30 bps YoY) and NNPA at 0.35% (down 9 bps YoY)
- Capital Adequacy Ratio stood at 16.27% with CET-1 ratio at 14.61%
Axis Bank reported a 38% YoY increase in standalone net profit to ₹7,003 crore for Q2FY27, driven by a 12% YoY growth in Net Interest Income (NII) to ₹15,371 crore. Total advances grew 23% YoY to ₹13,73,727 crore, while deposits increased 21% YoY. Asset quality showed solid improvement, with Gross NPA declining 30 bps YoY to 1.16% and Net NPA falling 9 bps YoY to 0.35%. Net credit cost moderated to 0.45% compared to 0.73% a year earlier.
- Net profit increased 38% YoY to ₹7,003 crore for the quarter ended September 30, 2026
- Net Interest Income rose 12% YoY and 5% QoQ to ₹15,371 crore with NIM at 3.36%
- Advances grew 23% YoY to ₹13,73,727 crore, led by 34% growth in corporate and 16% in retail loans
- Asset quality improved with GNPA at 1.16% (down 30 bps YoY) and NNPA at 0.35% (down 9 bps YoY)
- Capital Adequacy Ratio stood at 16.27% with CET-1 ratio at 14.61%
Axis Bank reported a standalone net profit of ₹7,003.28 crore for Q2 ended September 30, 2026, marking a 37.6% increase YoY from ₹5,089.64 crore, though slightly down 1.6% QoQ. Total income reached ₹42,949.32 crore, driven by interest earned of ₹36,418.77 crore. Asset quality showed continued improvement, with Gross NPA declining to 1.16% (down from 1.46% in Q2 FY26) and Net NPA at 0.35%. Provisions fell sharply by 52.2% YoY to ₹1,693.74 crore, supporting profitability.
- Standalone net profit grew 37.6% YoY to ₹7,003.28 crore in Q2 FY27 versus ₹5,089.64 crore in Q2 FY26
- Operating profit reached ₹11,083.08 crore, up 6.4% YoY compared to ₹10,412.53 crore
- Provisions & contingencies dropped 52.2% YoY to ₹1,693.74 crore from ₹3,547.04 crore
- Asset quality improved with Gross NPA at 1.16% (vs 1.46% YoY) and Net NPA at 0.35% (vs 0.44% YoY)
- Capital Adequacy Ratio (Basel III) stood robust at 16.27% as of September 30, 2026
Axis Bank Limited has appointed Mr. Ananth Narayan G. as an Additional Independent Director for a 4-year tenure effective October 19, 2026, through October 18, 2030, subject to shareholder approval. Mr. Narayan brings over 25 years of global financial markets experience, having formerly served as a Whole-Time Member of SEBI (October 2022 to October 2025) and on the board of Yes Bank as an RBI appointee. His induction reinforces the governance and regulatory compliance framework for the Rs 4,00,614 Cr lender. The appointment involves no familial or financial relationships with existing directors or key managerial personnel.
- Appointment as Additional Independent Director for a 4-year term from October 19, 2026, to October 18, 2030
- Served as Whole-Time Member of SEBI for 3 years between October 2022 and October 2025
- Over 25 years of experience in global financial markets across Standard Chartered, Deutsche Bank, and Citibank
- Board meeting commenced at 9:00 AM and approved the appointment at 9:30 AM on October 16, 2026
Axis Bank Limited has submitted its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended September 30, 2026. The certificate from Registrar and Share Transfer Agent KFin Technologies confirms that dematerialization requests received between July 1, 2026, and September 30, 2026, were processed within 15 days. Security certificates received were confirmed, canceled, and updated in the register of members per regulatory norms. This is a standard procedural filing with no operational or financial impact on the bank.
- Compliance certificate submitted for the quarter ended September 30, 2026
- RTA KFin Technologies confirmed requests processed within 15 days of receipt
- Covers dematerialization activities from July 1, 2026 to September 30, 2026
Axis Bank released provisional business updates for Q2 ended September 30, 2026, showing gross advances grew 22.7% YoY (8.8% QoQ) to ₹13,846 billion. Total deposits increased 20.7% YoY to ₹14,521 billion, driven by a 27.3% YoY rise in term deposits, while CASA deposits grew 10.6% YoY to ₹5,296 billion. Growth figures were supported by RBI's FCNR (B) swap facility, through which the bank mobilised USD 10.62 billion (₹1,018 billion). Excluding FCNR leveraging loans, gross advances and total deposits grew 18.8% and 17.0% YoY, respectively.
- Gross advances grew 22.7% YoY and 8.8% QoQ to ₹13,846 billion as of Sept 30, 2026
- Total deposits rose 20.7% YoY to ₹14,521 billion; CASA deposits grew 10.6% YoY to ₹5,296 billion
- Mobilised USD 10.62 billion (₹1,018 billion) under RBI's FCNR (B) swap facility
- Excluding FCNR leveraging loans, gross advances grew 18.8% YoY and total deposits grew 17.0% YoY
- Standby letters of credit issued against FCNR (B) deposits stood at USD 4.69 billion (₹449 billion)
Axis Bank has issued a postal ballot notice seeking shareholder approval for key board appointments and re-appointments. These include the re-appointment of CH SS Mallikarjunarao as an Independent Director for four years from February 1, 2027, and Munish Sharda as Executive Director for three years from February 27, 2027, with an annual fixed remuneration of ₹5,30,38,184. The bank is also seeking approval to appoint Sesha Giridhar Kuppili as Non-Executive Nominee Director and Arvind Subramanian as Independent Director with a fixed annual fee of ₹30,00,000. Remote e-voting opens on October 7, 2026, and closes on November 5, 2026, with results due by November 9, 2026.
- Re-appointment of Munish Sharda as Executive Director for 3 years starting February 27, 2027, with annual remuneration of ₹5,30,38,184
- Re-appointment of CH SS Mallikarjunarao as Independent Director for a 4-year term starting February 1, 2027
- Proposed appointment of Arvind Subramanian as Independent Director with fixed remuneration of ₹30,00,000 per annum
- Remote e-voting runs from October 7, 2026 (9:00 a.m. IST) to November 5, 2026 (5:00 p.m. IST), with results by November 9, 2026
Axis Bank Limited has submitted an intimation under Regulation 30(5) of SEBI Listing Regulations updating contact details for key managerial personnel authorized to determine and disclose material events. The authorized officials include Managing Director & CEO Amitabh Chaudhry, CFO Rajeev Mantri, and Company Secretary Sandeep Poddar. The filing is purely administrative and carries zero financial impact on the bank's Rs 3,76,322 crore market capitalization or Rs 1,65,024 crore TTM revenue base.
- Disclosure submitted pursuant to Regulation 30(5) of SEBI Listing Regulations, 2015 on September 28, 2026
- MD & CEO Amitabh Chaudhry authorized for material event disclosures (+9122-43254809)
- Group Head & CFO Rajeev Mantri authorized for material event disclosures (+9122-43254670)
- Group Head & Company Secretary Sandeep Poddar authorized for material event disclosures (+9122-43252802)
Axis Bank has allotted 79,227 equity shares of face value Rs. 2 each on September 22, 2026, pursuant to its ESOP/RSU schemes. Following this allotment, the bank's paid-up share capital increased marginally from Rs. 6,226,988,854 to Rs. 6,227,147,308. Total issued equity shares rose to 3,113,573,654 from 3,113,494,427 shares. The equity dilution from this allotment is negligible at approximately 0.0025% of the total share base.
- Allotted 79,227 equity shares of face value Rs. 2 each on September 22, 2026
- Paid-up share capital increased to Rs. 6,227,147,308 from Rs. 6,226,988,854
- Total share count increased to 3,113,573,654 equity shares from 3,113,494,427
Axis Bank participated in the Jefferies 5th India Forum on September 18, 2026, held in Gurgaon. The bank engaged with 13 institutional investors, including Hudson Bay Capital Management, DSP Investment Managers, and UBS Asset Management. The presentation shared during the event has been uploaded to the bank's website. As an ordinary investor meeting disclosure, this filing contains no new financial or operational material changes.
- Meeting conducted on September 18, 2026, at Gurgaon
- Participated in the Jefferies 5th India Forum
- Engaged with 13 institutional investors including UBS Asset Management and DSP Investment Managers
- Presentation made available on the bank's official website
Axis Bank informed the exchanges that it attended the Jefferies 5th India Forum on September 17, 2026, held in Gurgaon. The bank met with three institutional investors: Eurizon Capital Asia Limited, Jefferies India Private Limited, and Millennium Management LLC. A copy of the investor presentation was confirmed to be available on the bank's website. No unpublished price sensitive information or fresh financial data was disclosed in the filing.
- Participated in Jefferies 5th India Forum on September 17, 2026
- Met with 3 institutions: Eurizon Capital Asia, Jefferies India, and Millennium Management
- Investor presentation uploaded to the bank's official website
- Meeting conducted in Gurgaon in compliance with Regulation 30 of SEBI LODR
Axis Bank has scheduled its Board of Directors meeting for Saturday, October 17, 2026, to review and approve unaudited standalone and consolidated financial results for the quarter ending September 30, 2026. The financial results will be subject to a limited review by the Joint Statutory Auditors. Pursuant to SEBI insider trading regulations, the trading window for designated persons will remain closed from October 1, 2026, to October 19, 2026.
- Board meeting scheduled on October 17, 2026, to consider Q2 FY27 results
- Results pertain to the quarter ending September 30, 2026
- Trading window closed from October 1, 2026, until October 19, 2026
- Results to be subjected to limited review by Joint Statutory Auditors
Axis Bank has allotted 68,291 equity shares of face value Rs. 2 each on September 16, 2026, pursuant to the exercise of stock options and units under its ESOP/RSU schemes. Following this allotment, the bank's paid-up share capital increased marginally from Rs. 6,226,852,272 (3,113,426,136 shares) to Rs. 6,226,988,854 (3,113,494,427 shares). The dilution represents less than 0.01% of the total outstanding share capital and is purely routine in nature.
- Allotment of 68,291 equity shares of face value Rs. 2 each on September 16, 2026
- Issued pursuant to exercise of stock options/units under ESOP / RSU Scheme
- Total paid-up share capital increased from Rs. 6,226,852,272 to Rs. 6,226,988,854
- Total number of issued equity shares rose from 3,113,426,136 to 3,113,494,427
Axis Bank Limited has submitted an intimation regarding upcoming institutional investor meetings scheduled in Hong Kong between September 22 and September 24, 2026. The engagements include participation in the CLSA 33rd Investors Forum 2026 on September 22 and 24, and the BofA Asia Pacific Conference on September 23. These meetings are scheduled as in-person group sessions. An investor presentation will be accessible on the bank's website as per regular regulatory requirements.
- CLSA 33rd Investors Forum 2026 scheduled for 22-September-26 and 24-September-26
- BofA Asia Pacific Conference scheduled for 23-September-26
- All meetings are structured as in-person group meetings in Hong Kong
- Presentation available on the bank's official website
Financial Performance
Revenue Growth by Segment
Axis Finance PAT grew 18% YoY to INR 385 Cr in H1FY26. Axis AMC PAT grew 11% YoY to INR 271 Cr. Axis Securities H1FY26 revenue stood at INR 729 Cr with a PAT of INR 175 Cr. Retail advances grew 6% YoY, while MSME/SBB/Mid-Corporate segments grew at a 27% CAGR from Sep'21 to Sep'25.
Geographic Revenue Split
Domestic operations are conducted through 5,976 branches across 3,238 centers. Overseas corporate loans represent 10% (INR 34,973 Cr) of the corporate loan book as of Sep'25, down from 12% in Mar-22.
Profitability Margins
Net Interest Margin (NIM) stood at 3.73% for Q2FY26. Operating Profit Margin was 2.53% and Consolidated Return on Equity (ROE) was 11.51% for H1FY26.
EBITDA Margin
Operating Profit Margin of 2.53% for Q2FY26. Pre-provision profit for Axis Finance grew 23% YoY to INR 548 Cr in H1FY26.
Capital Expenditure
The bank expanded its physical network by 399 branches YoY, reaching 5,976 domestic branches. Future capital expenditure is focused on digital transformation and branch ramping to target retail customers.
Credit Rating & Borrowing
CRISIL and CARE Ratings have reaffirmed a 'Stable' outlook. Tier 1 capital ratio was 15.1% and overall Capital Adequacy Ratio (CAR) was 17.1% as of March 31, 2025. Cost of funds declined by 24 basis points QoQ in Q2FY26.
Operational Drivers
Raw Materials
Customer Deposits (CASA and Term Deposits) and Borrowings represent the primary 'raw materials' for banking operations. CASA ratio stood at 40% as of Sep'25.
Import Sources
Primarily sourced from the domestic Indian market (54 million customers). The bank also accesses international capital markets, evidenced by a US$600m Sustainable AT1 Bond.
Key Suppliers
54 million individual and corporate depositors provide the capital base. No single supplier dependency is noted due to the granular retail deposit base.
Capacity Expansion
Current capacity includes 5,976 domestic branches and 13,177 ATMs/cash recyclers. The bank added 399 branches and 77 Business Correspondent Banking Outlets (BCBOs) in the last 12 months.
Raw Material Costs
Cost of funds is the primary cost, which saw a 24 basis point QoQ decline in Q2FY26 due to proactive action on savings and term deposit rates.
Manufacturing Efficiency
Cost to Assets ratio was 2.38% for Q2FY26. The bank delivered positive operating jaws with expenses increasing only 3% YoY in H1FY26.
Logistics & Distribution
Distribution is achieved through 5,976 branches, 13,177 ATMs, and 1,786 Virtual Relationship Managers.
Strategic Growth
Expected Growth Rate
12%
Growth Strategy
Growth will be achieved by scaling the MSME and Mid-Corporate segments (27% CAGR) and leveraging the 'One Axis' subsidiary ecosystem. Axis Finance (23% YoY asset growth) is being prepared for a future listing. The bank is also expanding its digital footprint, currently holding a 37% market share in UPI Payer PSP volumes to drive low-cost customer acquisition.
Products & Services
Savings and Current Accounts, Fixed Deposits, Credit Cards, Personal Loans, Home Loans, MSME Loans, Corporate Loans, Wealth Management, Mutual Funds, and Stock Broking.
Brand Portfolio
Axis Bank, Axis Finance, Axis AMC, Axis Securities, Axis Capital, Freecharge, Axis Trustee, A.Treds.
New Products/Services
Launched Axis Gold OD on UPI with Freecharge; planned go-live for Loan Against Property in mid-Q3FY26.
Market Expansion
Ramping up branch network to target retail customers; Microfinance (MFI) sourcing now live in 143 branches.
Market Share & Ranking
3rd largest private sector bank in India. 5.4% market share in advances, 5.0% in deposits, and 37% in UPI Payer PSP volumes.
Strategic Alliances
Partnership with NPCI for UPI services; association with Freecharge for digital lending products.
External Factors
Industry Trends
Rapid growth in MSME credit (8.4% industry market share for Axis) and a shift toward digital-first banking and UPI-linked credit products.
Competitive Landscape
Competes primarily with HDFC Bank, ICICI Bank, and State Bank of India in the retail and corporate segments.
Competitive Moat
Durable advantage through its status as the 3rd largest private bank, providing scale for a 40% CASA ratio and a dominant 37% UPI market share that creates high switching costs.
Macro Economic Sensitivity
Sensitive to RBI monetary policy; rate cuts and GST reductions are expected to improve liquidity and credit growth.
Consumer Behavior
Increasing consumer preference for digital transactions (UPI transactions grew 51% QoQ) and unsecured retail credit.
Geopolitical Risks
Minimal direct impact as 90% of the corporate loan book is domestic.
Regulatory & Governance
Industry Regulations
Compliance with RBI Master Circulars on IRAC (Income Recognition, Asset Classification) and KYC norms. RBI advisory led to a one-time INR 1,231 Cr provision for crop loans.
Environmental Compliance
Issued a US$600m Sustainable AT1 Bond; recognized for 'Best Sustainability-linked Bond'.
Taxation Policy Impact
Subject to standard Indian corporate tax rates; fiscal policy impacts include GST rate reductions on services.
Legal Contingencies
RBI issued a caution letter (Oct 2025) regarding KYC lapses in an old account. The bank made an additional one-time standard asset provision of INR 1,231 Cr for discontinued crop loan variants following an RBI inspection.
Risk Analysis
Key Uncertainties
Potential deterioration in asset quality in unsecured retail loans; regulatory penalties for operational lapses (KYC); and technological risks related to data breaches.
Geographic Concentration Risk
100% of domestic branches (5,976) are in India, with 10% of corporate loans being overseas.
Third Party Dependencies
Dependency on NPCI for UPI infrastructure and various IT vendors for database and network operations.
Technology Obsolescence Risk
Mitigated by a leading 37% UPI market share and significant investment in digital banking segments.
Credit & Counterparty Risk
Net NPA stood at 0.71% for the bank and 0.42% for Axis Finance. Provision Coverage Ratio (PCR) is 70%.
