Net interest income is expected to increase by 2.5 percent Q-o-Q (up 14.8 percent Y-o-Y) to Rs 3060 crore, according to Motilal Oswal.
Motilal Oswal has come out with its January-March quarter earnings estimates for the banking sector. The brokerage house expects Axis Bank to report a 7.5 percent growth quarter-on-quarter (growth of 10.9 percent year-on-year) in net profit at Rs 1725.1 crore.
Net interest income is expected to increase by 2.5 percent Q-o-Q (up 14.8 percent Y-o-Y) to Rs 3060 crore, according to Motilal Oswal.
Motilal Oswal's Report on Axis Bank:
Loan growth is expected to be in line with industry average at 15 percent YoY. However, led by PSL build-up, sequential growth is expected to be strong at 7 percent.
NIM is expected to moderate by 10bp QoQ to 3.6 percent, as share of low yielding PSL loans is expected to go up.
Fee income growth is expected to be sub 10 percent YoY as (1) retail fees (outsourcing of ATM network not yet reflected in base year) remain muted and (2) environment is not conducive for corporate fees.
Stress creation in large/mid-corporate segment is expected to continue. We factor a slippage ratio of 1.4 percent (v/s 1.3 percent in 3QFY14) and flat credit cost of 0.6 percent (v/s 0.6 percent in 3QFY14) for 4QFY14E.
PPP growth YoY is expected to be flat but a decline in provisioning expense (bank had created a contingency buffer of INR 3.8 billion in 4QFY13) is expected to translate into earnings growth of 11 percent+ YoY.
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