Axis Bank’s Q4 net profit edged down, hit by trading losses and a new provision set aside for potential risks. Even so, the bank reported improved asset quality alongside growth in advances and deposits. Management has recommended a dividend and is also laying groundwork for capital raising to strengthen its balance sheet going forward.
Axis Finance has raised Rs 750 crore from Kedaara Capital through a preferential issuance, adding to a recent Rs 1,500 crore infusion from Axis Bank. The company says the capital will strengthen its financial base and support expansion across retail, MSME and wholesale lending. Axis Finance’s business also grew 22% to Rs 47,692 crore.
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