Axis Bank on Friday announced that Rajiv Anand will retire as the Deputy Managing Director at the close of business hours on August 3, 2025 upon completion of his third term as a Director on the Bank’s Board.
"Rajiv has been instrumental in transforming the Corporate Bank and contributed to building our retail franchise in its formative years. Rajiv has built and groomed a strong team. We have a strong leadership pipeline at the Bank that will ensure that our clients continue to receive best in class service and our competitive positioning continues to improve," said Axis Bank through a stock exchange filing.
"Rajiv’s association with the Axis group will continue after his retirement from the Bank as Nonexecutive Chairperson of Axis Max Life Insurance Limited. The Board and the management team places on record their appreciation for his contributions to the Bank over the years and wishes him very best in his future endeavours," said the bank in the official statement.
The private lender reported a better-than-expected March quarter result. Net profit for Q4 was at Rs 7,117.5 crore, nearly flat compared to Rs 7,123 crore in the same period last year.
Net interest income (NII) was up 5.5% year-on-year to Rs 13,810.5 crore from Rs 13,089 crore. The bank’s net interest margin (NIM) improved by 4 basis points sequentially to 3.97%, while core operating profit grew 11% YoY to Rs 10,575 crore.
Asset quality also improved, with gross NPA ratio (GNPA) at 1.28%, down 15 bps YoY and 18 bps QoQ, and net NPA (NNPA) at 0.33%, down 2 bps QoQ.
Axis Bank’s balance sheet expanded 9% YoY to Rs 16.09 lakh crore as of March-end. Total deposits grew 10% YoY and 7% QoQ, with current account deposits rising 16%. The CASA ratio improved to 41% from 39% in Q3FY25.
"Rajiv has been instrumental in transforming the Corporate Bank and contributed to building our retail franchise in its formative years. Rajiv has built and groomed a strong team. We have a strong leadership pipeline at the Bank that will ensure that our clients continue to receive best in class service and our competitive positioning continues to improve," said Axis Bank through a stock exchange filing.
"Rajiv’s association with the Axis group will continue after his retirement from the Bank as Nonexecutive Chairperson of Axis Max Life Insurance Limited. The Board and the management team places on record their appreciation for his contributions to the Bank over the years and wishes him very best in his future endeavours," said the bank in the official statement.
The private lender reported a better-than-expected March quarter result. Net profit for Q4 was at Rs 7,117.5 crore, nearly flat compared to Rs 7,123 crore in the same period last year.
Net interest income (NII) was up 5.5% year-on-year to Rs 13,810.5 crore from Rs 13,089 crore. The bank’s net interest margin (NIM) improved by 4 basis points sequentially to 3.97%, while core operating profit grew 11% YoY to Rs 10,575 crore.
Asset quality also improved, with gross NPA ratio (GNPA) at 1.28%, down 15 bps YoY and 18 bps QoQ, and net NPA (NNPA) at 0.33%, down 2 bps QoQ.
Axis Bank’s balance sheet expanded 9% YoY to Rs 16.09 lakh crore as of March-end. Total deposits grew 10% YoY and 7% QoQ, with current account deposits rising 16%. The CASA ratio improved to 41% from 39% in Q3FY25.
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