Axis Bank’s Q2 net profit rises to Rs 1,683 cr

New Delhi, Oct 28 : Lending major Axis Bank on Wednesday reported a net profit of Rs 1,683 crore for the second quarter (Q2) of 2020-21.

The lender had posted a net loss of Rs 112 crore net profit during Q2.

Besides, the bank’s net interest income (NII) zoomed up 20 per cent to Rs 7,326 crore during the quarter under review from Rs 6,102 crore earned during the corresponding quarter of the previous year.

The net interest margin for Q2FY21 stood at 3.58 per cent as against 3.51 per cent for Q2FY20.

MD and CEO Amitabh Chaudhry said: “The last quarter was an extremely fulfilling one. Keeping the customer journey at the centre of all our innovations and solutions, we came up with some great initiatives to suit the current times.

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“We have now gone to the next level of digital with ‘Video KYC’ and other tech-enabled solutions like the ‘AXAA multilingual BOT’.”

Disclaimer: This story is auto-generated from IANS service.

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