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On Friday, Axis Bank announced that Rajiv Anand will retire from his position as Deputy Managing Director at the end of business hours on August 3, 2025. This will mark the completion of his third term as a director on the bank’s board.
In an official statement, the bank highlighted Rajiv Anand’s significant role in the transformation of the Corporate Banking division and his valuable contribution to building the retail business during its early years. Axis Bank emphasized that Rajiv was instrumental in developing a strong leadership team within the bank, which will continue to ensure high-quality service for clients and help the bank maintain its competitive edge.
The bank also mentioned that Rajiv’s association with the Axis group will not end with his retirement from the bank. He will continue to serve as the Nonexecutive Chairperson of Axis Max Life Insurance Limited, one of the group’s key subsidiaries. The management and board of the bank expressed their deep appreciation for Rajiv’s contributions over the years and wished him success in his future endeavors.
Axis Bank’s Strong Financial Performance for the March Quarter
In addition to the retirement news, Axis Bank also shared its financial performance for the March quarter of the financial year. The bank reported a net profit of ₹7,117.5 crore for the fourth quarter, which was nearly the same as last year’s figure of ₹7,123 crore.
The Net Interest Income (NII) saw a 5.5% increase year-on-year, rising to ₹13,810.5 crore from ₹13,089 crore. The bank also reported a growth in net interest margin (NIM), which improved by 4 basis points sequentially to 3.97%. This growth reflects the bank’s ability to generate more income from its lending activities.
Axis Bank’s core operating profit grew by 11% year-on-year, reaching ₹10,575 crore, signaling solid business performance.
Improved Asset Quality and Growth in Deposits
The bank also reported improvements in its asset quality. The Gross NPA (Non-Performing Assets) ratio decreased by 15 basis points year-on-year, coming in at 1.28%, while the Net NPA ratio was 0.33%, down by 2 basis points compared to the previous quarter. These figures indicate that the bank has been effectively managing its loan portfolio.
Axis Bank’s balance sheet grew by 9% year-on-year, reaching ₹16.09 lakh crore by the end of March. Total deposits rose by 10% year-on-year, and current account deposits increased by 16%, reflecting the bank’s ability to attract and retain customer deposits. The CASA (Current Account Savings Account) ratio also improved, increasing from 39% in Q3 FY25 to 41%.
In conclusion, Axis Bank has shown a strong financial performance for the quarter, demonstrating consistent growth across key areas such as profit, loan quality, and deposit growth. As Rajiv Anand prepares for his retirement, the bank is positioned well with a solid leadership team to continue its growth and success in the future.
