Axis Bank Upgraded to IG Status of BBB-; Perps Trend Higher

Axis Bank’s Profit Soars 91%

Indian lender Axis Bank reported a solid 91% YoY increase in standalone net profits to INR 41.2bn ($520mn) during the quarter ended June. The bank’s total income rose to INR 21.3bn ($2.7bn), up 12% YoY. Retail loans, Rural loans, and SME loans grew by 25%, 42%,...
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