Axis Bank Ltd.PAT +38% to ₹7,003 Cr, advances +23%, NIM 3.36%

Axis Bank's Q2 FY27 call, held on 17 October 2026, reported profit after tax of ₹7,003 crore, up 38%, with consolidated return on assets of 1.49%, advances up 23% (19% excluding loans funded by FCNR(B) deposits) and net interest income up 12%.

The bank raised ₹1,018 billion of FCNR(B) deposits, about 8% of the market, which cut reported net interest margin 10 basis points to 3.36%, or 3.47% without the effect. Management kept its 3.8% structural margin target without a time frame and expects sequential improvement in Q3 and Q4. Gross NPA fell to 1.16%, net credit cost was 0.45% and CET-1 was 14.61%, with no equity raise needed. Fee growth was a weak 6%, cards were soft, and the draft IRDAI bancassurance rules are expected within about six to nine months.

Of 15 promises from the last call, 11 are on track or met, one is partly met, one is delayed, one accelerated and one was not mentioned. No credit cost guide was given.