Axis Bank on Wednesday reported a 26.4% year-on-year decline in its net profit for the quarter ended September to Rs 5,090 crore because of higher provisions. Provisions and contingencies increased 61% on year. Bloomberg estimated the net profit for the third-largest private lender at Rs 5,881 crore.

Following an RBI advisory, post its FY25 annual inspection, the bank in the reporting quarter made an additional one-time standard asset provision of Rs 1,231 crore for two discontinued crop loan variants. This standard asset provision will be written back to the P&L when all the outstanding loans in those two variants are recovered or closed in normal course or by March 31, 2028, whichever is earlier.

On various draft norms released by the Reserve Bank of India, Amitabh Chaudhary, managi

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