• Q4 FY25
  • Quarter-4 Results 2024-25

Major Highlights of

Q4FY25

Q4FY25 Consolidated ROA at 1.88%, Consolidated ROE at 17.11%, PAT at `7,117 crores up 13% QOQ, aided by CASA growth of 10% QOQ and total deposits growth of 7% QOQ

Healthy core operating performance

  • Q4FY25 Net Interest Margin (NIM) at 3.97% up 4 bps QOQ, FY25 NIM at 3.98%
  • Fee income grew 12% YOY and 16% QOQ, granular fee constituted 94% of overall fees, Retail fee grew 14% YOY and 22% QOQ
  • Core Operating Profit up 11% YOY and 5% QOQ, Operating expenses grew 6% YOY, FY25 cost to assets at 2.46% declined 9 bps YOY
  • FY25 Consolidated ROA | ROE at 1.77% | 16.89%

Focus on average deposits continues, MEB deposit growth robust in Q4FY25

  • YOY MEB | QAB basis, total deposits grew 10% | 9%; term deposits grew 14% | 14%, CA grew 6% | 6%, SA grew 3% | 1%, respectively
  • QOQ MEB | QAB basis total deposits grew 7% | 2%; term deposits grew 5% | 2%, CA grew 16% | 3%, SA grew 8% | flat, respectively
  • MEB | QAB CASA ratio at 41% | 38%, Avg. LCR Outflow rates improved by 340 bps over the last 3 year
  • Q4FY25 cost of funds remained in a tight range with 7 bps increase YOY

SBB+SME+MC growth remains healthy

  • Advances grew 8% YOY and 3% QOQ; However, the Bank’s focus segments* grew by 10% YOY and 3% QOQ
  • Retail loans grew 7% YOY and 3% QOQ of which Rural loans grew 7% YOY & 5% QOQ, SBB1 book grew 17% YOY and 4% QOQ
  • SME loans up 14% YOY and 4% QOQ, Corporate loans up 8% YOY, Mid-Corporate (MC) up 10% YOY
  • SBB+SME+MC mix at `2,363 bn | 22.71% of total loans, up ~740 bps in last 4 years

Well capitalized with self-sustaining capital structure; adequate liquidity buffers

  • Self sustaining capital structure with net accretion^ to CET-1 of 93 bps in FY25 and 6 bps in Q4FY25
  • Overall capital adequacy ratio (CAR) stood at 17.07% with CET 1 ratio of 14.67%
  • Additional cushion of ~37 bps over the reported CAR, attributable to other provisions of `5,012 crores not included in CAR calculation
  • Excess SLR of `114,609 crores. Avg. LCR during Q4FY25 was ~118%

Continue to maintain our strong position in Payments and Digital Banking

  • Bank maintains strong position in UPI Payer PSP space with a market share of ~ 32%
  • Continue to be amongst the largest players in Merchant Acquiring business in India with a terminal market share of ~19%2
  • ~0.77 million credit cards acquired in Q4FY25, CIF market share of ~14%2
  • open by Axis Bank is among the top rated mobile banking app on Google Play store and iOS app store with rating of 4.7 and 4.8, with ~15 million MAU

Stable asset quality, lowest net NPA amongst large private sector banks

  • GNPA at 1.28% declined by 15 bps YOY and 18 bps QOQ, NNPA at 0.33% declined 2 bps QOQ
  • PCR healthy at 75%, Coverage3 ratio at 157% improved ~600 bps QOQ
  • Q4FY25 gross slippage ratio (annualized) at 1.90% declined by 23 bps QOQ , Net slippage ratio (annualized) at 0.81% declined by 59 bps QOQ
  • Q4FY25 net credit cost (annualized) at 0.50%, declined 30 bps QOQ, Q4FY25 (annualized) provisions to average assets 0.35% declining 21 bps QOQ

Key subsidiaries delivered strong performance

  • Total FY25 PAT of domestic subsidiaries at `1,768 crores, up 11% YOY; Return on investments of ~ 46% in domestic subsidiaries
  • Axis Finance FY25 PAT at `676 crores up 11% YOY, Stable asset quality metrics with net NPA at 0.37%
  • Axis AMC’s FY25 PAT at `501 crores up 21% YOY, Axis Securities FY25 PAT at ₹419 crores up 39% YOY
  • Axis Capital FY25 PAT at `161 crores up 7% YOY and executed 44 ECM deals in FY25

*Bank’s focus segments include Small Business Banking (SBB), Small & Medium Enterprises (SME), Mid Corporate, Rural, Personal Loans (PL) and Credit Card Advances
QAB : Quarterly Average Balance;
MEB: Month End Balance; MAU: Monthly Active Users engaging in financial & non-financial transactions;
1 SBB : Small Business Banking;
2 Based on RBI data as of Feb’25;
3 Coverage Ratio = Aggregate provisions (specific + standard + additional + other contingencies) / IRAC GNPA;
^ Net accretion = capital accreted – capital consumed

Key Metrics for Q4FY25

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

Profit & Loss Absolute (in ` Crores) QOQ YOY Growth
  Q4FY25 Q3FY25 FY25 Q4FY25 Q4FY25 FY25
Net Interest Income 13,811 13,606 54,348 2% 6% 9%
Fee Income 6,338 5,455 22,504 16% 12% 11%
Operating Expenses 9,838 9,044 37,500 9% 6% 6%
Operating Profit 10,752 10,534 42,105 2% 2% 13%
Core Operating Profit 10,575 10,102 39,916 5% 11% 13%
Profit after Tax 7,117 6,304 26,373 13% - 6%
Balance Sheet Absolute (in ` Crores) YOY Growth
  As on 31.3.2025  
Total Assets 16,09,930 9%
Net Advances 10,40,811 8%
Total Deposits 11,72,952 10%
Shareholders' Funds 1,78,617 19%

 

Key Ratios Absolute (in ` Crores)  
  Q4FY25 / FY25 Q4FY24 / FY24
Diluted EPS (Annualised in `) 92.73 / 84.77 92.34 / 80.10
Book Value per share (in `) 577 487
Standalone ROA (Annualised %) 1.83 / 1.74 2.00 / 1.83
Standalone ROE (Annualised %) 16.98 / 16.52 20.35 / 18.86
Cons ROA (Annualised %) 1.88 / 1.77 2.07 / 1.84
Cons ROE (Annualised %) 17.11 / 16.89 20.87 / 19.29
Gross NPA Ratio 1.28% 1.43%
Net NPA Ratio 0.33% 0.31%
Basel III Tier I CAR(c) 15.07% 14.20%
Basel III Total CAR(c) 17.07% 16.63%

(c) including profit after tax for FY25

Deposits 10% YOY (a)   9% YOY (b)
CASA

4% YOY (a) | 3% YOY (b)

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

Advances 8% YOY
Retail
SME
Corporate

7% YOY | 14% YOY | 8% YOY

Core Operating Profit
(in ` Crores) 5% QOQ   13% YOY
  • Q4FY25
    10,575
  • Q3FY25
    10,102
  • FY25
    39,916
  • FY24
    35,393
Profit After Tax
(in ` Crores) 13% QOQ   6% YOY
  • Q4FY25
    7,117
  • Q3FY25
    6,304
  • FY25
    26,373
  • FY24
    24,861

We have a very well distributed branch network;
added ~500 branches in FY25 and 170 branches in Q4FY25

Domestic Branch Network*  
  • Mar-25
    5,876
  • Mar-24
    5,377
  • Mar-23
    4,903
  • Mar-22
    4,758
  • Mar-21
    4,594

* Includes extension counters

Performance at a Glance

Performance at a Glance

Healthy core operating performance

  • Q4FY25 | FY25 Core Operating profit grew 11% | 13% YOY
  • FY25 cost to assets at 2.46%, improved 9 bps YOY

Focus on average deposits continues, MEB deposit growth robust in Q4FY25

  • QOQ MEB1 | QAB1 basis total deposits grew 7% | 2%; term deposits grew 5% | 2%, CA grew 16% | 3%, SA grew 8% | flat, respectively
  • MEB1 | QAB1 CASA ratio at 41% | 38%, respectively
  • Average LCR2 during Q4FY25 was 118%, outflow rates improved ~340 bps over last 3 years
  • Q4 FY25 cost of funds remained in a tight range with 7 bps increase YOY

SBB+SME+MC growth remains healthy

  • Advances up 8% YOY and 3% QOQ, Retail loans grew 7% YOY and 3% QOQ
  • Small Business Banking loans grew 17% | 4% on YOY | QOQ basis, Mid-Corporate (MC) book grew 10% YOY
  • SBB + SME + MC mix at `2,36,342 crores | 22.71% of loans, up ~740 bps in last 4 years

Well capitalized with self-sustaining capital structure; adequate liquidity buffers

  • Self-sustaining capital structure with net accretion^ to CET-1 of 93 bps in FY25 and 6 bps in Q4FY25
  • Overall capital adequacy ratio (CAR) stood at 17.07% with CET 1 ratio of 14.67%
  • Additional cushion of ~37 bps over the reported CAR, attributable to other provisions of `5,012 crores
  • Excess SLR of `114,609 crores

Continue to maintain our strong position in Payments and Digital Banking

  • open by Axis Bank remains among the world’s top rated3 MB app on Google Play store and iOS app store with rating of 4.7 and 4.8 respectively; ~15 mn MAU4
  • open by Axis Bank & Axis Pay have ~15 mn non-Axis Bank customers
  • ~30.1 mn customers on WhatsApp banking
  • Credit card CIF market share at ~14%

Stable asset quality, lowest net NPA amongst large private sector banks

  • GNPA at 1.28% declined by 15 bps YOY and 18 bps QOQ, NNPA at 0.33% declined by 2 bps QOQ
  • PCR healthy at 75%; On an aggregated basis5, Coverage ratio at 157% improved ~600 bps QOQ
  • Q4FY25 Gross slippage ratio6 at 1.90%, Net slippage ratio6 at 0.81%, Net credit cost6 at 0.50%

Key domestic subsidiaries7 delivered strong performance

  • FY25 profit at `1,768 crores up 11% YOY, with a return on investment in domestic subsidiaries of ~46%
  • Axis Finance FY25 PAT grew 11% YOY to `676 crores asset quality metrics stable, ROE at 14.51% for Q4FY25
  • Axis AMC FY25 PAT grew 21% YOY to `501 crores
  • Axis Securities FY25 PAT grew 39% YOY to `419 crores
  • Axis Capital FY25 PAT grew 7% YOY to `161 crores and executed 44 ECM deals in FY25

1 MEB : Month End Balance, QAB: Quarterly Average Balance
2 Liquidity Coverage Ratio
3 with 3 mn+ reviews
^ Net accretion = capital accreted – capital consumed during the quarter
4 Monthly active users, engaging in financial and non-financial transactions
5 (specific+ standard+ additional + other contingencies) / IRAC GNPA
6 Annualized
7 Figures of subsidiaries are as per Indian GAAP, as used for consolidated financial statements of the Group

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