• Q4 FY26
  • Quarter-4 Results 2025-26

Major Highlights of

Q4FY26

Strong 6% growth in deposits and advances, deposit growth aided by healthy 7% QOQ growth in CASA. Q4FY26 PAT at ` 7,071 cr up 9% QOQ, supported by 8% QOQ fee growth and stable asset quality

Stable core operating performance

  • Net Interest Income up 5% YOY, Net Interest Margin (NIM) at 3.62%
  • Fee income up 8% QOQ and 4% YOY; granular fee constituted 92% of overall fees; Retail fee up 2% YOY
  • Cost to assets at 2.28%, declined 18 bps YOY and 5 bps QOQ,
  • Core Operating revenue up 3% QOQ and YOY

Strong deposit growth delivered driving CASA improvement

  • YOY MEB1 | QAB1 basis, total deposits grew 14% | 13%; term deposits grew 16% | 15%, CA grew 11% | 10%, SA grew 11% | 10%, respectively
  • QOQ MEB1 | QAB1 basis total deposits grew 6% | 2%, term deposits grew 5% | 3%, CA grew 7% | 3%, SA grew 7% | 2%, respectively
  • MEB1 CASA ratio at 40%, continues to be amongst the best across large peer banks
  • Q4FY26 cost of funds decreased by 44 bps YOY and 1 bps QOQ

Strong loan growth delivered

  • Advances grew 19% YOY & 6% QOQ; Bank’s focus segments2 grew by 15% YOY and 5% QOQ
  • SBB2+SME+MC at `2,931 bn | 24% of total loans, up ~845 bps in last 5 years
  • SME loans up 24% YOY and 6% QOQ, Corporate loans up 38% YOY and 10% QOQ of which Mid-Corporate (MC) up 33% YOY
  • Retail loans grew 8% YOY and 4% QOQ of which SBB book grew 17% YOY and 7% QOQ. Retail disbursements grew 24% YOY and 19% QOQ

Well capitalized with adequate liquidity buffers

  • Overall capital adequacy ratio (CAR) stood at 16.42%9, CET 1 ratio at 14.38%9
  • Additional cushion of ~53 bps over the reported CAR, attributable to other provisions and one-time standard asset provision aggregating `8,244 crores
  • Excess SLR of `1,50,620 crores
  • Avg. LCR during Q4FY26 was ~117%

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 ~36%3 , with lowest technical declines4
  • Continues to be amongst the largest players in Merchant Acquiring business in India with a terminal market share of 22.4%5
  • Acquired 1mn+ cards in Q4FY26, having 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 4.8 on both, with ~16 mn MAU6

Stable Asset Quality$

  • GNPA at 1.23% down 17 bps QOQ and 5 bps YOY, NNPA at 0.37% down 5 bps QOQ, PCR healthy at 70%, Coverage7 ratio at 166% up 900 bps YOY
  • Gross slippage ratio8 at 1.63% down 27 bps YOY, Net slippage ratio8 at 0.70% down 11 bps YOY
  • Net credit cost8 at 0.37%, down 13 bps YOY and 39 bps QOQ
  • Excluding Technical Impact: : Gross slippage ratio8 at 1.20% down 70 bps YOY and 31 bps QOQ, Net slippage ratio8 at 0.63% down 18 bps YOY and 32
  • bps QOQ, Net credit cost8 at 0.28%, down 22 bps YOY and 35 bps QOQ

Key subsidiaries delivered healthy performance

  • Total FY26 PAT of domestic subsidiaries at `2,051 crores up 16% YOY; Return on investments of ~ 54% in domestic subsidiaries
  • Axis Finance FY26 PAT at `806 crores up 19% YOY, Stable asset quality metrics with net NPA at 0.36%
  • Axis AMC’s FY26 PAT at `596 crores up 19% YOY, Axis Securities FY26 PAT at `366 crores
  • Axis Capital FY26 PAT at `259 crores up 61%; executed 9 ECM and 3 non-ECM deals in Q4FY26

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 by both value and volume for Q4Y26;
4 NPCI data for top 50 UPI Remitter Members, last 12 months average as of Mar'26;
5 Based on RBI data as of Feb'26;
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;
9 Net of proposed dividend
$ During Q4 of FY26, the Bank took the initiative to further strengthen its balance sheet by voluntarily enhancing its prudent provisioning framework for standard assets. In line with this framework, an additional one-time provision of ₹2,001 crores was made during the quarter. This measure is entirely prudent and does not indicate any concerns regarding asset quality or adverse credit developments in the Bank’s loan or investment portfolio as of the reporting date

Key Metrics for Q4FY26

Snapshot (As on March 31st, 2026) (in ` Crores)

Profit & Loss Absolute (in ` Crores) QOQ YOY Growth
  Q4FY26 Q3FY26 FY26 Q4FY26 Q4FY26 FY26
Net Interest Income 14,457 14,287 56,048 1% 5% 3%
Fee Income 6,561 6,100 24,444 8% 4% 9%
Operating Expenses 10,466 9,637 39,362 9% 6% 5%
Operating Profit 10,013 10,876 42,817 (8%) (7%) 2%
Core Operating Profit 10,619 10,815 41,443 (2%) 0.4% 4%
Profit after Tax 7,071 6,490 24,457 9% (0.6%) (7%)
Balance Sheet Absolute (in ` Crores) YOY Growth
  As on 31.3.2026  
Total Assets 18,86,850 17%
Net Advances 12,33,570 19%
Total Deposits 13,35,834 14%
Shareholders' Funds 2,04,194 14%

 

Key Ratios Absolute (in ` Crores)  
  Q4FY26 / FY26 Q4FY25 / FY25
Diluted EPS (Annualised in `) 91.78 / 78.31 92.73 / 84.77
Book Value per share (in `) 657 577
Standalone ROA (Annualised %) 1.58 / 1.45 1.83 / 1.74
Standalone ROE (Annualised %) 14.74 / 13.15 16.98 / 16.52
Cons ROA (Annualised %) 1.64 / 1.46 1.88 / 1.77
Cons ROE (Annualised %) 15.15 / 13.59 17.11 / 16.89
Gross NPA Ratio 1.23% 1.28%
Net NPA Ratio 0.37% 0.33%
Basel III Tier I CAR^ 14.78% 15.07%
Basel III Total CAR^ 16.42% 17.07%

^ including profit after tax for FY26

Deposits 14% YOY (a)   13% YOY (b)
CASA

11% YOY (a) | 10% YOY (b)

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

Advances 19% YOY
Retail
SME
Corporate

8% YOY | 24% YOY | 38% YOY

 

Core Operating Profit (in ` Crores) 4% YOY
  • FY26
    41,443
  • FY25
    39,916
Profit After Tax (in ` Crores) 7% YOY
  • FY26
    24,457
  • FY25
    26,373

We have a very well distributed branch network

Domestic Branch Network* 7% YOY
  • Mar-26
    6,275
  • Mar-25
    5,876
  • Mar-24
    5,377
  • Mar-23
    4,903
  • Mar-22
    4,758

* Includes extension counters

Q4FY26 Performance at a Glance

Q4FY26 Performance at a Glance

Stable core operating performance

  • Net Interest Income up 5% YOY, Net Interest Margin (NIM) at 3.62%
  • Core Operating revenue up 3% QOQ and YOY

Strong deposit growth delivered driving CASA improvement

  • YOY MEB1 | QAB1 basis, total deposits up 14% | 13%; TD1 up 16% | 15%, CA grew 11% | 10%, SA up 11% | 10%, respectively
  • QOQ MEB1 | QAB1 basis, total deposits up 6% | 2%; TD1 up 5% | 3%, CA up 7% | 3%, SA up 7% | 2%, respectively
  • MEB1 CASA ratio at 40%, continues to be amongst the best across large peer banks
  • Q4FY26 cost of funds decreased by 44 bps YOY and 1 bps QOQ

Strong loan growth delivered

  • Advances grew 19% YOY and 6% QOQ; Bank’s focus segments2 grew by 15% YOY and 5% QOQ
  • SBB2+SME+MC at `2,931 bn | 24% of total loans, grew 24% YOY, up ~845 bps in the last 5 years
  • Retail loans grew 8% YOY and 4% QOQ of which SBB book grew 17% YOY and 7% QOQ, and Rural loans grew 10% QOQ

Well capitalized with adequate liquidity buffers

  • Overall capital adequacy ratio (CAR) stood at 16.42%, CET 1 ratio of 14.38%
  • Additional cushion of ~53 bps over the reported CAR, attributable to other provisions3 of `7,013 crores and additional one-time standard asset provision3 of `1,231 crores
  • Excess SLR of `1,50,620 crores
  • Average LCR4 during Q4FY26 was ~ 117%

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 4.8 on both, with ~16 mn MAU6
  • Continues to be amongst the largest player in Merchant Acquiring business with terminal market share7 of ~22.4%

Stable asset quality

  • GNPA at 1.23% down 17 bps QOQ and 5 bps YOY, NNPA at 0.37% down 5 bps QOQ
  • PCR healthy at 70%; On an aggregated basis8, Coverage ratio at 166% up 900 bps YOY
  • Gross slippage ratio9 at 1.63%, down 27 bps YOY, Net slippage ratio9 at 0.70%, down 11 bps YOY, Net credit cost9 at 0.37%, down 13 bps YOY and 39 bps QOQ
  • Excluding Technical Impact: Gross slippage ratio9 at 1.20%, down 70 bps YOY and 31 bps QOQ, Net slippage ratio9 at 0.63%, down 18 bps YOY and 32 bps QOQ, Net credit cost9 at 0.28%, down 22 bps YOY and 35 bps QOQ

Key domestic subsidiaries10 delivered healthy performance

  • FY26 net profit at `2,051 crores up 16% YOY, with a return on investment in domestic subsidiaries of ~ 54%
  • Axis Finance FY26 PAT at `806 crores up 19% YOY, Stable asset quality metrics with net NPA at 0.36%
  • Axis AMC’s FY26 PAT at `596 crores up 19% YOY, Axis Securities FY26 PAT at `366 crores
  • Axis Capital FY26 PAT at `259 crores up 61% YOY; executed 9 ECM and 3 non-ECM deals in Q4FY26

1 MEB: Month End Balance, QAB: Quarterly Average Balance, TD: Term Deposits
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 Feb-26;
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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