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<ul><li><keyword id="6355975" type="COMPANY" weightage="20" keywordseo="axis-bank">Axis Bank</keyword>’s share price is up by over 6% in early morning trade.</li><li>The jump in stock value comes after the bank revealed that its moratorium book was only 9.7% of the total portfolio in terms of value. </li><li>Axis Bank has also built up buffers to the tune of $900 million to address stressed assets and COVID-19 contingency.</li></ul>Axis Bank’s share price rallied over 6% in early morning trade, reacting to its Q1 earnings posted last evening. The primary concern over asset quality was assuaged when the bank disclosed that only 9.7% total portfolio consisted of loans that had opted for the Reserve Bank of India’s (RBI) moratorium. <div type="image" title="axis bank stock price (1)" msid="77100086" hostid="261" caption="&amp;lt;p&amp;gt;Axis Bank stock price surges by over 6%&amp;lt;/p&amp;gt;"></div> Analysts are now positive about Axis Bank’s growth and have increased their earnings estimates based on the bank’s strong net interest income (NII) growth and sequential decline in provisions. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brokerage </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Target Price </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Motilal Oswal Securities </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 600 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IDBI Capital </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 530 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC Securities </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 565 </td></tr></tbody></table> 90% of the customers who opted for the second moratorium are the same as the ones who opted for the first moratorium. Nonetheless, management said that Axis Bank remains cautious which is why it has a provision buffer of nearly $900 million and is building up a solid war chest. <div type="Article" hostid="261" msid="77086850" title="Axis Bank has set aside over $900 million fearing COVID-19 may sour loans" mstype="2" mssubtype="0"></div> In June, 80% of corporate clients and 70% of customers in retail who had opted for the moratorium successfully paid the interest on their loans. The bank’s Gross Non-Performing Assets (GNPA) ratio and Net Non-Performing Assets (NNPA) ratio has also improved over last quarter. <div type="image" title="Axis bank GNPA NNPA" msid="77100109" hostid="261" caption="&amp;lt;p&amp;gt;Axis Bank&amp;#39;s GNPA and NNPA ratios over the last five quarters&amp;lt;/p&amp;gt;"></div> This has helped boost the provisions coverage ratio (PCR) to 75%, an increase of 576 basis points (bps) over the last quarters. A hundred bps make up 1%. “Post near term stress taking shape, we expect the book to normalize and improve thereon,” said IDBI Capital’s review. SEE ALSO: <a href="https://www.businessinsider.in/finance/banks/news/axis-bank-has-set-aside-over-900-million-fearing-covid-19-may-sour-loans/articleshow/77086850.cms">Axis Bank has set aside over $900 million fearing COVID-19 may sour loans</a> <a href="https://www.businessinsider.in/stock-market/news/hdfc-bank-share-price-rises-on-bond-issue-and-increase-in-provision/articleshow/77061426.cms">HDFC Bank is beefing up capital and provision to cushion a spike in bad loans post moratorium — and that’s helping its share price</a>

Axis Bank share price surges over 6% after earnings reveal that only 9.7% of its loans are exposed to the moratorium

In order to be able to face the attrition levels and tough competition from new age banks, Axis Group has done a tie-up with Coursera - a global education aggregator. As per the plan, the bank aims to skill almost 12,000 of its employees over a period of three years. These 12000 are the top performers from the 80000-strong workforce. 
 
The chosen employees will be able to avail hybrid courses from renowned global universities like Stanford, Colombia, and Wharton. 
 "We are taking responsibility of skilling our own people and every time banking will change our skilling designs skilling needs and the platforms that we use will undergo change," Rajesh Dahiya, Group Executive of <keyword id="6355975" type="CITY" weightage="100" keywordseo="Axis-Bank">Axis Bank</keyword> told ET. "A problem and a good thing about banking is we don't greadymade bankers, banking industry makes its own bankers." 
 
Coursera will be helping the bank in creating specific course modules in the field of Bid Data, Data analytics, Information Technology and Leadership. 
 
"Our partnership with Axis Bank is that we will prepare for them customized, curated learning pathways to meet the needs of specific employees," Nikhil Sinha, Senior Adviser, Coursera told ET. "The agreement allows for Coursera to prepare course modules for 12,000 Axis Bank employees over three years. We will identify capability pockets and will map relevant courses available in the Coursers catalogue". 
 
<a href="http://realtyodisha.com/wp-content/uploads/2014/03/Axis-Bank-Limited.jpg">Image source</a>

Axis Group ties up with Coursera to skill 12,000 top performers

Private sector lender <keyword id="19952948" type="General" weightage="20" keywordseo="Axis-Bank" source="keywords" meta.keywordsubtype="org" meta.entityname="Axis Bank" meta.hostid="261" meta.entityid="Axis Bank">Axis Bank</keyword> on Wednesday reported a net profit of Rs 7,129 crore for the fourth quarter ended March 31, 2024. The bank had reported a net loss of Rs 5,728 crore in the March quarter of 2022-23 fiscal. Total income rose to Rs 35,990 crore in the March quarter of 2023-24 fiscal, from Rs 28,758 crore in the year-ago period. The bank's Net Interest Income (NII) grew 11 per cent Year-on-Year (YoY) to Rs 13,089 crore. For 2023-24 fiscal, the net profit jumped 160 per cent to Rs 24,861 crore. The numbers for the March quarter of 2022-23 fiscal and the full fiscal include the impact of exceptional items relating to the <keyword id="19941660" type="General" weightage="20" keywordseo="citibank" source="keywords">Citibank</keyword> business acquisition, Axis Bank said. Its balance sheet grew 12 per cent YoY to Rs 14,77,209 crore as on March 31, 2024. The bank issued 1.24 million new credit cards in the March quarter of FY24 and has been one of the highest credit card issuers in the country over the last nine quarters, Axis Bank said in a regulatory filing. The bank's board has recommended a dividend of Re 1 per equity share of the face value of Rs 2 per equity share for FY24. Shares of Axis Bank settled at Rs 1,063.70 apiece, up 0.69 per cent over the previous close on the BSE. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/news/realme-narzo-70-narzo-70x-5g-smartphones-launched-in-india-starting-at-11999/articleshow/109557895.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/realme-narzo-70-narzo-70x-5g-smartphones-launched-in-india-starting-at-11999/articleshow/109557895.cms" target="_blank">Realme Narzo 70, Narzo 70X 5G smartphones launched in India starting at ₹11,999</a><a href="https://www.businessinsider.in/tech/news/gigabyte-aorus-co49dq-49-inch-qd-oled-144hz-curved-gaming-monitor-launched-in-india/articleshow/109563798.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/gigabyte-aorus-co49dq-49-inch-qd-oled-144hz-curved-gaming-monitor-launched-in-india/articleshow/109563798.cms" target="_blank">GIGABYTE AORUS CO49DQ 49-inch QD-OLED 144Hz curved gaming monitor launched in India</a><a href="https://www.businessinsider.in/tech/news/apple-let-loose-event-scheduled-for-may-7-ipads-expected-to-be-launched/articleshow/109553148.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/apple-let-loose-event-scheduled-for-may-7-ipads-expected-to-be-launched/articleshow/109553148.cms" target="_blank">Apple Let Loose event scheduled for May 7 – New iPad models expected to be launched</a>

Axis Bank posts net profit of ₹7,129 cr in March quarter

<ul><li>Open up to small moments of joy, says <keyword id="6355975" type="COMPANY" weightage="20" keywordseo="axis-bank">Axis Bank</keyword> in its new campaign by <keyword id="274876" type="COMPANY" weightage="20" keywordseo="Lowe-Lintas">Lowe Lintas</keyword>.</li><li>The multi-film campaign highlights the various features and offers on the Axis Bank Select Credit Card and Flipkart Axis Bank Credit Card . </li></ul>Axis Bank has released a multi-film campaign for its Cards portfolio. The new campaign conceived by Lowe Lintas Mumbai focuses on the small moments of joy to promote the bank's credit card offerings. Axis Bank has taken an emotion-driven approach, in line with its Dil Se Open philosophy. Commenting on the new campaign, Sanjeev Moghe, EVP &amp; Head – Cards &amp; Payments, Axis Bank “Over the last one year, we have seen new categories such as online shopping, OTT or food ordering growing in relevance for our consumers. This new campaign brings alive one of our most compelling propositions in these categories through heartwarming slice of life films rooted in our Brand philosophy of Open. The new campaign idea originated from the observation that even though people have been compelled to act measurably due to current times, little moments of joy can go a long way in getting us unadulterated happiness. The offerings on our range of Credit cards are nothing but enablers of that happiness.” <div type="Youtube" id="tHhamoF-VPM" title="Flipkart Axis Bank Credit Card | Unlimited cashback on every spend" thumbUrl="https://i.ytimg.com/vi/tHhamoF-VPM/mqdefault.jpg"></div> Talking about the idea, Amar Singh, Regional Creative Officer, Lowe Lintas said: "Over the last many months, we have all become a bit more receptive and open to the fact that happiness doesn’t depend on big, milestone type moments. It can be found in the simplest of things. And in a world often driven by unabashed consumerism, that is a refreshing change. One that Axis Bank endorses and this campaign for their cards, conceived by Joshua Thomas, Prathamesh Gharat and Katya Mohan, recognizes, respects and encourages.” <div type="Youtube" id="De4CD-s7RWk" title="Axis Bank Select Credit Card | 40% off on Swiggy" thumbUrl="https://i.ytimg.com/vi/De4CD-s7RWk/mqdefault.jpg"></div> The multi-film campaign highlights the various features and offers on the Axis Bank Select Credit Card and Flipkart Axis Bank Credit Card that are carefully curated around every day spends such as entertainment, food and e-commerce. Each film revolves around a warm human story of people opening up to innocent, raw moments of little joys. The monochromatic treatment of the films adds to the exclusivity and premium quotient of the campaign. <div type="Youtube" id="cqDtbS-fpAA" title="Axis Bank Select Credit Card | 1 year complimentary Amazon Prime membership" thumbUrl="https://i.ytimg.com/vi/cqDtbS-fpAA/mqdefault.jpg"></div> Client: Ananya Shukla, Archana Koushik, Richa Kamat Creative: Amar Singh, Joshua Thomas, Prathamesh Gharat, Katya Mohan, Tejas Dangre, Manoj Kolaskar, Khushnaaz Jamshedji Account Management: Shantanu Sapre, Jay Ladhani, Reema Bahadkar, Nitasha Chandnani, Durvesh Mhapuskar Planning: Aditi Patwardhan, Abhishek Joshi Production House: Lintas C/EX (Director: Poonam Wahi, Mithun Chakraborty; Producer: Dean Freeman)

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Axis Bank share price surges over 6% after earnings reveal that only 9.7% of its loans are exposed to the moratorium

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Axis Group ties up with Coursera to skill 12,000 top performers

BI India Bureau

Axis Bank posts net profit of ₹7,129 cr in March quarter

PTI

Axis Bank's latest ad focuses on the small moments of joy to promote the bank's credit card offerings

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