Axis Bank - Q1FY14 Result Update - GEPL Capital

Advances increased to 198,151crores up by 16%. Increase was largely driven by strong growth in retail loans which rose 40% Y-o-Y & now accounts for 29% of the total loan book against 24% last year. Non retail loans recorded an increase of 8% Y-o-Y in which SME grew at 27% Y-o-Y. Total Deposits were at 238841crores & grew by 7% with lower growth of term deposits as a result of capital inclusion in Q4FY13. CASA grew by 16%, of which SA grew by 20% & CA grew by 11%. They plan to expand the branch network by 15-20% during the year. 75 new branches were already opened during the quarter.

Retail loan portfolio continues to be focused on secured products that account for 85% of the total retail consumer loans. Home loans account for 65%, LAP(Loan Against Property) accounts for 8%, Auto Loans account for 12%, Personal loans & Credit cards account for remaining 10% of the consumer lending book.

Source : Equity Bulls

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