Provisions and contingencies of Axis Bank surged sharply by 94% year-on-year to Rs 3,947.66 crore. (Photo: Vijay Sartape/NDTV Profit) Show Quick Read Summary is AI Generated. Newsroom Reviewed

Axis Bank will be the first major lender to report September-quarter results on Oct. 15, marking the start of the banking earnings season. The lender is expected to post a 15.6% year-on-year drop in net profit to Rs 5,838 crore as margins contract and provisions increase, according to Bloomberg estimates.

Profitability may stay under pressure as Net Interest Margins (NIMs) moderate to 3.6% from 3.8% in the June quarter. Analysts said credit costs are likely to remain elevated even as slippages ease. Meanwhile the loan growth is expected to rise 9% on a yealy basis, according to Kotak Securitie

See Full Page