• Q2 FY27
  • Quarter-2 Results 2026-27

Major Highlights for

Q2FY27

Robust growth in deposits at 21% YOY and 6% QOQ and advances at 23% YOY and 9% QOQ;
PAT up 38% YOY to `7,003 crores aided by strong NII growth at 12% YOY and improving asset quality

Healthy core operating performance supported by strong NII

  • Core Operating profit at `10,998 crores, up 11% YOY; Core operating revenue at `21,817 crores, up 10% YOY and 5% QOQ
  • Net Interest Income up 12% YOY and 5% QOQ, Net Interest Margin (NIM) at 3.36%; and excl. of FCNR (B) impact NIM at 3.47%
  • Fee income up 6% YOY; granular fee constituted 90% of overall fees
  • Cost to assets at 2.14%, declined 6 bps QOQ and 24 bps YOY, delivered positive jaws on core operating revenue

Robust deposit growth sustained across average and period end balances supported by strong CASA and FCNR (B) inflow

  • Raised FCNR (B) deposits of `1,018 bn, incl. `438 bn backed by advances from Bank’s international branches and `449 bn backed by standby letters of credit
  • YOY QAB1 | MEB1 basis, total deposits grew 23% | 21% (17%)2; term deposits grew 28% | 27% (21%)2, CA grew 15% | 7%, SA grew 13% | 12%, respectively
  • QOQ QAB1 | MEB1 basis total deposits grew 7% | 6% (3%)2, term deposits grew 10% | 8% (3%)2, CA grew 3% | -%, SA grew 2% | 2%, respectively
  • QAB1 | MEB1 CASA grew 14% | 11% YOY and 3% | 2% QOQ, with CASA ratio at 35% | 36% (38%)2

Strong loan growth delivered supported by sustained growth in retail disbursements

  • Advances grew 9% (5%)2 QOQ and 23% (19%)2 YOY; Bank’s focus segments3 grew by 6% QOQ and 18% YOY
  • SBB3+SME+MC at `3,316 bn | 24% of total loans, up ~772 bps in last 5 years
  • SME loans up 9% QOQ and 25% YOY, Corporate loans up 8% QOQ and 34% YOY, of which Mid-Corporate (MC) up 9% QOQ and 29% YOY
  • Retail loans grew 10% (3%)2 QOQ and 16% (10%)2 YOY of which SBB book grew 7% QOQ and 21% YOY. Retail disbursements grew 20% QOQ and 22% YOY

Well capitalized with adequate liquidity buffers

  • Overall capital adequacy ratio (CAR) stood at 16.27%, CET 1 ratio at 14.61%
  • Additional cushion of ~49 bps over the reported CAR, attributable to other provisions and one-time standard asset provision aggregating `8,006 crores
  • Excess SLR of `1,04,306 crores
  • Avg. LCR during Q2FY27 was ~119%

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 ~ 38%4, with lowest technical declines5
  • Continues to be amongst the largest players in Merchant Acquiring business in India with a terminal market share of 25.7%6
  • Acquired ~1.09 mn cards in Q2FY27, having a market share of ~13.1%6 of Cards in force; first and only Bank in India to launch Apple Pay
  • 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 MAU7

Improving asset quality


  • GNPA at 1.16% down 30 bps YOY, NNPA at 0.35% down 9 bps YOY
  • PCR healthy at 70%, Coverage8 ratio at 164% up 17% YOY
  • Gross slippage ratio9 at 1.48% down 63 bps YOY, Net slippage ratio9 at 0.75% down 30 bps YOY
  • Net credit cost9 at 0.45%, down 28 bps YOY

Key subsidiaries continue to deliver healthy performance

  • Total H1FY27 PAT of domestic subsidiaries at `1,210 crores up 29% YOY; Return on investments of ~ 45% in domestic subsidiaries
  • Axis Finance H1FY27 PAT at `546 crores up 42% YOY, Stable asset quality metrics with net NPA at 0.35%
  • Axis AMC’s H1FY27 PAT10 at `370 crores up 36% YOY, Axis Securities H1FY27 PAT10 at `191 crores up 9% YOY
  • Axis Capital H1FY27 PAT at `149 crores up 61% YOY; executed 20 ECM and 5 non-ECM deals in Q2FY27

H1FY27 Consolidated ROE (annualized) at 14.23%, up 170 bps YOY, with subsidiaries contributing 50 bps

1 QAB: Quarterly Average Balance; MEB: Month End Balance;
2 Excluding impact on period end balance of the portion of FCNR (B) deposits that are backed by advances extended by Bank’s international branches;
3 Bank’s focus segments include Small Business Banking (SBB), Small & Medium Enterprises (SME), Mid Corporate, Rural, Personal Loans (PL) and Credit Card Advances
4 Market share by volume for Q2FY27;
5 NPCI data for top 50 UPI Remitter Members, last 12 months average as of September’26;
6 Based on RBI data as of Aug’26;
7 MAU: Monthly Active Users engaging in financial & non-financial transactions;
8 Coverage Ratio = Aggregate provisions (specific + standard + additional + other contingencies) / IRAC GNPA;
9 Annualised;
10 Adjusted for impact of transfer of PMS business from Axis Securities to Axis AMC

Key Metrics for Q2FY27

Snapshot (As on 30th September 2026) (in ` Crores)

Profit & Loss Absolute (in ` Crores) QOQ YOY Growth
  Q2FY27 Q1FY27 H1FY27 Q2FY27 Q2FY27 H1FY27
Net Interest Income 15,371 14,646 30,018 5% 12% 10%
Fee Income 6,381 6,156 12,536 4% 6% 6%
Operating Expenses 10,819 9,722 20,541 11% 9% 7%
Operating Profit 11,083 11,659 22,742 (5%) 6% 4%
Core Operating Profit 10,998 11,122 22,120 (1%) 11% 11%
Profit after Tax 7,003 7,114 14,117 (2%) 38% 30%
Balance Sheet Absolute (in ` Crores) YOY Growth
  Q2FY27  
Total Assets 20,46,240 22%
Net Advances 13,73,727 23%
Total Deposits 14,52,066 21%
Shareholders' Funds 2,18,749 15%

 

Key Ratios Absolute (in ` Crores)  
  Q2FY27 / H1FY27 Q2FY26 / H1FY26
Diluted EPS1 (in `) 88.80 / 90.01 64.75 / 69.70
Book Value per share (in `) 703 612
Standalone ROA1 1.38% / 1.44% 1.23% / 1.35%
Standalone ROE1 13.30% / 13.73% 11.06% / 12.09%
Cons ROA1 1.49% / 1.51% 1.30% / 1.39%
Cons ROE1 13.96% / 14.23% 11.51% / 12.53%
Gross NPA Ratio 1.16% 1.46%
Net NPA Ratio 0.35% 0.44%
Basel III Tier I CAR 14.96% 14.83%
Basel III Total CAR 16.27% 16.55%

1 Annualised

Deposits
21% YOY a   17% YOY a, c   23% YOY b
TD
CASA(a)

CASA growth 11% YOY a | 14% YOY b

a Period end balances b Quarterly average balance c Excluding impact on period end balance of the portion of FCNR (B) deposits that are backed by advances extended by Bank’s international branches

Advances
23% YOY   19% YOY c
Retail
SME
Corporate

16% YOY | 25% YOY | 34% YOY

Core Operating Profit (in ` Crores) 11% YOY
  • Q2FY27
    10,998
  • Q2FY26
    9,915
Profit After Tax (in ` Crores) 38% YOY
  • Q2FY27
    7,003
  • Q2FY26
    5,090

 

We have a very well distributed branch network

Domestic Branch Network* 7% YOY
  • Sep-26
    6,414
  • Mar-26
    6,275
  • Mar-25
    5,876
  • Mar-24
    5,377
  • Mar-23
    4,903

* Includes extension counters

Performance at a Glance

Performance at a Glance

Healthy core operating performance supported by strong NII

  • Core operating revenue at `21,817 crores, up 10% YOY
  • Net Interest Margin (NIM) at 3.36%; and excl. of FCNR (B) impact NIM at 3.47%
  • Fee income up 6% YOY; granular fee constituted 90% of overall fees

Robust deposit growth sustained across average and period end balances supported by CASA & FCNR (B) inflow

  • QOQ QAB1 | MEB1 basis, total deposits up 7% | 6%; TD1 up 10% | 8%, CA up 3% | -%, SA up 2% | 2%, respectively
  • QAB1 | MEB1 CASA grew 14% | 11% YOY and 3% | 2% QOQ, CASA ratio at 35% | 36%, respectively
  • Cost of funds decreased by 8 bps YOY

Strong loan growth delivered supported by sustained growth in retail disbursements

  • Advances grew 23% YOY and 9% QOQ; Bank’s focus segments2 grew by 18% YOY and 6% QOQ
  • SBB2+SME+MC at `3,316 bn | 24% of total loans, grew 25% YOY, up ~772 bps in the last 5 years
  • Retail loans grew 16% YOY of which SBB book grew 21% YOY and 7% QOQ, and Rural loans grew 20% YOY and 4% QOQ, Retail disbursements grew 22% YOY

Well capitalized with adequate liquidity buffers

  • Additional cushion of ~49 bps over the reported CAR, attributable to other provisions3 and one-time standard asset provision3 aggregating `8,006 crores
  • Excess SLR of `1,04,306 crores
  • Average LCR4 during Q2FY27 was ~ 119%

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 ~25.7%

Stable asset quality

  • GNPA at 1.16% down 30 bps YOY and 12 bps QOQ, NNPA at 0.35% down 9 bps YOY and 4 bps QOQ
  • PCR healthy at 70%; On an aggregated basis, Coverage8 ratio at 164% up 17% YOY
  • Gross slippage ratio9 at 1.48%, down 63 bps YOY & 31 bps QOQ, Net slippage ratio9 at 0.75%, down 30 bps YOY & 37 bps QOQ
  • Net credit cost9 at 0.45%, down 28 bps YOY and 18 bps QOQ

Key domestic subsidiaries10 delivered healthy performance

  • H1FY27 net profit at `1,210 crores up 29% YOY, with a return on investment in domestic subsidiaries of ~45%
  • Axis Finance H1FY27 PAT at `546 crores up 42% YOY, Stable asset quality metrics with net NPA at 0.35%
  • Axis AMC’s H1FY27 PAT11 at `370 crores up 36% YOY, Axis Securities H1FY27 PAT11 at `191 crores up 9% YOY
  • Axis Capital H1FY27 PAT at `149 crores up 61% YOY; executed 20 ECM and 5 non-ECM deals in Q2FY27

1 QAB: Quarterly Average Balance, MEB: Month End 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 3.5mn+ reviews;
6 Monthly active users, engaging in financial and non-financial transactions;
7 Based on RBI data as of Aug-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;
11 Adjusted for impact of transfer of PMS business from Axis Securities to Axis AMC

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