Axis Bank CEO Amitabh Chaudhry Highlights Challenges Amid Profit Growth
Axis Bank CEO Amitabh Chaudhry highlights a tough banking environment despite an 18% rise in net profit for the September quarter, pointing to challenges in deposit growth and asset quality.
Axis Bank CEO Amitabh Chaudhry Highlights Challenges Amid Profit Growth
Axis Bank is navigating a difficult environment marked by slow deposit growth and asset quality issues, despite reporting an 18% rise in net profit for the September quarter. CEO Amitabh Chaudhry acknowledged the ongoing challenges on Thursday, noting that the bank's steady performance in terms of net interest income (NII) and net interest margin (NIM) is being offset by concerns over asset quality and the need for increased provisions. Indian banks, in general, are grappling with these issues, Chaudhry said, emphasizing the difficulties in growing deposits and maintaining asset quality in the current economic climate. Nevertheless, Axis Bank has managed to post solid earnings for the quarter, reflecting resilience in a challenging banking sector.
Click Here to Visit
What's Your Reaction?
