• Q3 FY26
  • Quarter-3 Results 2025-26

Major Highlights of

Q3FY26

Strong YOY deposits and advances growth of 15% and 14% respectively, core operating profit up 9% QOQ, PAT up 28% QOQ, aided by steady NII and healthy fee income

Healthy core operating performance aided by stable NII and healthy fee income

  • Net Interest Income up 5% YOY and 4% QOQ, Net Interest Margin (NIM) at 3.64% down 9 bps QOQ
  • Fee income grew 12% YOY; granular fee constituted 92% of overall fees and Retail fee up 12% YOY
  • Cost to assets at 2.33%, declined 15 bps YOY and 5 bps QOQ, delivered a positive jaw for 9MFY26
  • Core Operating profit up 9% QOQ and 7% YOY

Strong deposit growth delivered on QAB1 and MEB1 basis aided by healthy CASA inflows

  • YOY MEB1 | QAB1 basis, total deposits grew 15% | 12%; term deposits grew 16% | 14%, CA grew 20% | 10%, SA grew 11% | 8%, respectively
  • QOQ MEB1 | QAB1 basis total deposits grew 5% | 5%, term deposits grew 6% | 6%, CA grew 7% | 5%, SA grew 1% | 2%, respectively
  • MEB1 CASA ratio at 39%, continues to be amongst the best across large peer banks
  • Q3FY26 cost of funds decreased by 39 bps YOY and 8 bps QOQ

Healthy loan growth delivered, retail/granular loan disbursements increasing steadily

  • Advances grew 14% YOY & 4% QOQ; Bank's focus segments2 grew by 12% YOY and 3% QOQ
  • SBB+SME+MC at `2,800 bn | 24% of total loans, up ~705 bps in last 4 years
  • SME loans up 22% YOY and 6% QOQ, Corporate loans up 27% YOY and 7% QOQ of which Mid-Corporate (MC) up 31% YOY and 6% QOQ
  • Retail loans grew 6% YOY of which SBB book grew 14% YOY and 2% QOQ. Retail disbursements grew 20% YOY 12% QOQ

Well capitalized with adequate liquidity buffers

  • Overall capital adequacy ratio (CAR) stood at 16.55%, CET 1 ratio at 14.50%, net accreted 7 bps of CET-1 in Q3FY26
  • Additional cushion of ~43 bps over the reported CAR, attributable to other provisions and one-time standard asset provision aggregating `6,243 crores
  • Excess SLR of `137,919 crores
  • Avg. LCR during Q3FY26 was ~116%

Continue to maintain our strong position in Payments and Digital Banking

  • Maintaining our market leading position in UPI Payer PSP space with a market share of ~39%3 by volume, with lowest technical declines4
  • Continues to be amongst the largest players in Merchant Acquiring business in India with a terminal market share of 21.4%5
  • Acquired ~1mn cards in Q3FY26, with a market share of ~14%5 on the Cards in force
  • Axis Mobile app continue to be among the top rated mobile banking app on Google Play store and iOS store with a rating of 4.7 and 4.8, with ~15 mn MAU6

Stable Asset Quality

  • GNPA at 1.40% down 6 bps QOQ & YOY, NNPA at 0.42% down 2 bps QOQ, Retail asset quality stabilizing, net slippages & net credit costs lower than Q3FY25
  • PCR healthy at 70%, Coverage 7 ratio at 146%
  • Gross slippage ratio8 at 2.11% down 2 bps YOY, Net slippage ratio8 at 1.11% down 29 bps YOY, Net credit cost8 at 0.76%, down 4 bps YOY
  • Excluding Technical Impact: Gross slippage ratio8 at 1.51% down 62 bps YOY, Net slippage ratio8 at 0.95% down 45 bps YOY, Net credit cost8 at 0.63%, down 17 bps YOY

Key subsidiaries delivered healthy performance

  • Total 9MFY26 PAT of domestic subsidiaries at `1,490 crores up 6% YOY; Return on investments of ~52% in domestic subsidiaries
  • Axis Finance 9MFY26 PAT at `571 crores up 12% YOY, Stable asset quality metrics with net NPA at 0.36%
  • Axis AMC's 9MFY26 PAT at `454 crores up 20% YOY, Axis Securities 9MFY26 PAT at `270 crores
  • Axis Capital 9MFY26 PAT at `178 crores up 20%; executed 14 ECM and 3 non-ECM deals in Q3FY26

1 QAB: Quarterly Average Balance, MEB: Month End Balance
2 Bank's focus segments include Small Business Banking (SBB), Small & Medium Enterprises (SME), Mid Corporate, Rural, Personal Loans (PL) and Credit Card Advances
3 Market share for Q3Y26;
4 NPCI data for top 50 UPI Remitter Members, last 12 months average as of Dec'25;
5 Based on RBI data as of Dec'25;
6 MAU: Monthly Active Users engaging in financial & non-financial transactions;
7 Coverage Ratio = Aggregate provisions (specific + standard + additional + other contingencies) / IRAC GNPA;
8 Annualised

Key Metrics for Q3FY26

Snapshot (As on December 31st, 2025) (in ` Crores)

Profit & Loss Absolute (in ` Crores) QOQ YOY Growth
  Q3FY26 Q2FY26 9MFY26 Q3FY26 Q3FY26 9MFY26
Net Interest Income 14,287 13,745 41,591 4% 5% 3%
Fee Income 6,100 6,037 17,883 1% 12% 11%
Operating Expenses 9,637 9,957 28,896 (3%) 7% 4%
Operating Profit 10,876 10,413 32,803 4% 3% 5%
Core Operating Profit 10,815 9,915 30,824 9% 7% 5%
Profit after Tax 6,490 5,090 17,385 28% 3% (10%)
Balance Sheet Absolute (in ` Crores) YOY Growth
  Q3FY26  
Total Assets 17,52,171 15%
Net Advances 11,59,052 14%
Total Deposits 12,60,786 15%
Shareholders' Funds 1,96,709 15%

 

Key Ratios Absolute (in ` Crores)  
  Q3FY26 / 9MFY26 Q3FY25 / 9MFY25
Diluted EPS (Annualised in `) 82.50 / 73.96 80.32 / 82.12
Book Value per share (in `) 634 553
Standalone ROA (Annualised %) 1.49 / 1.40 1.64 / 1.71
Standalone ROE (Annualised %) 13.68 / 12.61 15.37 / 16.43
Cons ROA (Annualised %) 1.57 / 1.44 1.71 / 1.77
Cons ROE (Annualised %) 14.15 / 13.07 15.78 / 16.88
Gross NPA Ratio 1.40% 1.46%
Net NPA Ratio 0.42% 0.35%
Basel III Tier I CAR^ 14.89% 15.01%
Basel III Total CAR^ 16.55% 17.01%

^ including profit after tax for 9M

Deposits 15% YOY (a)   12% YOY (b)
CASA

14% YOY (a) | 9% YOY (b)

(a) Period end balances (b) Quarterly average balance

Advances 14% YOY
Retail
SME
Corporate

6% YOY | 22% YOY | 27% YOY

 

Core Operating Profit (in ` Crores) 9% QOQ | 7% YOY
  • Q3FY26
    10,815
  • Q3FY25
    10,102
Profit After Tax (in ` Crores) 28% QOQ | 3% YOY
  • Q3FY26
    6,490
  • Q3FY25
    6,304

We have a very well distributed branch network

Domestic Branch Network* 7% YOY
  • Dec-25
    6,110
  • Mar-25
    5,876
  • Mar-24
    5,377
  • Mar-23
    4,903
  • Mar-22
    4,758

* Includes extension counters

Q3FY26 Performance at a Glance

Q3FY26 Performance at a Glance

Healthy core operating performance aided by stable NII and robust fee income

  • Net Interest Income up 5% YOY and 4% QOQ, Net Interest Margin (NIM) at 3.64%
  • Core Operating profit up 7% YOY and 9% QOQ

Strong deposit growth delivered on QAB1 and MEB1 basis aided by healthy CASA inflows

  • YOY MEB1 | QAB1 basis, total deposits up 15% | 12%; CA grew 20% | 10%, SA up 11% | 8%, respectively
  • MEB1 CASA ratio at 39%, continues to be amongst the best across large peer banks
  • Q3FY26 cost of funds decreased by 39 bps YOY and 8 bps QOQ

Healthy loan growth delivered, retail/granular loan disbursements increasing steadily

  • Advances grew 14% YOY and 4% QOQ; Bank's focus segments2 grew by 12% YOY and 3% QOQ
  • SBB+SME+MC at `2,800 bn | 24% of total loans, grew 22% YOY, up ~705 bps in the last 4 years
  • Retail loans grew 6% YOY of which SBB book grew 14% YOY and 2% QOQ, and Rural loans grew 2% QOQ

Well capitalized with adequate liquidity buffers

  • Overall capital adequacy ratio (CAR) stood at 16.55%, CET 1 ratio of 14.50% up 7 bps QOQ
  • Additional cushion of ~43 bps over the reported CAR, attributable to other provisions3 of `5,012 crores and additional one-time standard asset provision3 of `1,231 crores
  • Excess SLR of `1,37,919 crores
  • Average LCR4 during Q3FY26 was ~ 116%

Continue to maintain our strong position in Payments and Digital Banking

  • Axis Mobile app continue to be among the world's top rated5 Mobile banking app on Google Play store and iOS app store with a rating of 4.7 and 4.8 respectively, with ~15 mn MAU6
  • Continues to be amongst the largest player in Merchant Acquiring business with terminal market share7 of ~21.4%

Stable asset quality

  • GNPA at 1.40% down 6 bps QOQ and YOY, NNPA at 0.42% down 2 bps QOQ
  • PCR healthy at 70%; On an aggregated basis8, Coverage ratio at 146%
  • Gross slippage ratio9 at 2.11%, down 2 bps YOY, Net slippage ratio9 at 1.11%, down 29 bps YOY, Net credit cost9 at 0.76%, down 4 bps YOY
  • Retail asset quality stabilising, retail business net slippages and net credit costs lower than Q3FY25
  • Excluding Technical Impact: Gross slippage ratio9 at 1.51%, down 62 bps YOY, Net slippage ratio9 at 0.95%, down 45 bps YOY, Net credit cost9 at 0.63%, down 17 bps YOY

Key domestic subsidiaries10 delivered healthy performance

  • 9MFY26 net profit at `1,490 crores, with a return on investment in domestic subsidiaries of ~ 52%
  • Axis Finance 9MFY26 PAT at `571 crores up 12% YOY, Stable asset quality matrics with net NPA at 0.36%
  • Axis AMC's 9MY26 PAT at `454 crores up 20% YOY, Axis Securities 9MFY26 PAT at `270 crores
  • Axis Capital 9MFY26 PAT at `178 crores up 20%; executed 14 ECM and 5 non-ECM deals in Q3FY26

1 MEB: Month End Balance, QAB: Quarterly Average Balance
2 Bank's focus segments include Small Business Banking (SBB), Small & Medium Enterprises, (SME), Mid Corporate, Rural, Personal Loans (PL) and Credit Card Advances;
3 not included in CAR calculation;
4 Liquidity Coverage Ratio;
5 with 3.3mn+ reviews;
6 Monthly active users, engaging in financial and non-financial transactions;
7 Based on RBI data as of Dec'25;
8 (specific+ standard+ additional + other contingencies) / IRAC GNPA;
9 Annualized;
10 Figures of subsidiaries are as per Indian GAAP, as used for consolidated financial statements of the Group

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