India’s third largest private lender Axis Bank reported a net profit of Rs 3,614 cr for the quarter ended 31 December 2021 which was up 224 per cent on the Year-on-Year (YOY) basis while 15 per cent  on the Quarteron-Quarter (QoQ) basis, it said in its filing to stock exchanges.

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The bank witnessed a strong growth performance across deposits and loans, improving asset quality, it said in the filing.

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The operating profit grew 17 per cent YOY and 4 per cent QoQ. The Net Interest Income (NII) for the reporting quarter was up 17 per cent YoY and 10 per cent QoQ.

The income from fee was up 15 per cent YoY and 3per cent QoQ basis for Q3FY22.

Axis Bank Q3FY22 - Key Highlighs:

1) Total deposits grew 22 per cent YOY and 3 per cent QOQ; SA grew 24 per cent YOY and 4 per cent QOQ, CA grew 27 per cent YOY and 13 per cent QOQ
2) Loans up 17 per cent YOY and7 per cent QOQ, Retail up 18 per cent YOY and 6 per cent QOQ, SME up 20 per cent YOY and 9 per cent QOQ. Corporate up 13 per cent YOY and 7 per centQOQ.
3) GNPA per cent at 3.17 per cent declined by 138 bps YOY and 36 bps QOQ, NNPA per cent at 0.91 per cent declined by 28 bps YOY and 17 bps QOQ.
4) Total CRAR (incl. 9MFY22 profit) at 18.72 per cent with CET1 of 15.33 per cent, covid provisions not utilised, limited restructuring at 0.63 per cent of GCA o One Axis: Domestic subsidiaries delivered strong 5) 5) 9MFY22 PAT of Rs 872 crores, up 61 per cent YOY and higher than full year FY21 profit.
6) More than 0.77 million credit cards issued in Q3FY22, highest ever for any quarter o Among the highest rated mobile banking app with Apple App store rating of 4.6 and Google Play store rating of 4.6.

Axis Bank shares today ended at Rs 709 on the NSE, down by 1.3 per cent from the Friday closing price.