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2009-10-14

SMEs contribute 16% of the Axis Bank profit

Axis Bank Ltd said its September quarter net profit rose 31.95% to Rs 531.64 crore, from Rs 402.91 crore a year ago. High fee income and loan growth are the major contributors to the profit.

Axis Bank Ltd said its September quarter net profit rose 31.95% to Rs 531.64 crore, from Rs 402.91 crore a year ago. High fee income and loan growth are the major contributors to the profit.

 

Fee income from large and medium-sized corporate credit grew 50%, from treasury by 35%, from business banking by 22%, from small and medium enterprises and agri lending businesses by 16%, and from the retail business by 10%.

 

Shares of Axis Bank, the country’s third largest private sector lender, rose 1.66% to Rs1,012.75 each on the Bombay Stock Exchange on Monday.

 

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