Axis Bank advanced its digital-first, inclusive and future-ready strategy during the quarter through a series of industry-first innovations and strategic partnerships aimed at reimagining customer experience and long-term capability building.
At the Global Fintech Fest, the bank unveiled the omni-channel Express Banking Digital Point in partnership with Hitachi Payment Services — a next-generation banking concept offering a glimpse into the future of inclusive branch banking. The compact, tech-enabled format allows customers to access a full range of banking services 24×7, including opening new accounts, availing instant cards, booking fixed deposits, applying for loans and paying utility bills.
Strengthening its digital payments portfolio, Axis Bank introduced a UPI-powered, co-branded RuPay credit card, the Google Pay Axis Bank Flex. Designed specifically for Indian consumers, the card features a fully digital application process, instant issuance, immediate rewards redemption and flexible repayment options within the Google Pay app.
The bank also deepened its focus on future technologies through an ₹80-crore partnership with Plaksha University, aimed at advancing artificial intelligence and deep-tech research.
Commenting on the developments, Amitabh Chaudhry, Managing Director & CEO, Axis Bank, said the quarter’s progress reflected the bank’s focus on building solutions that matter.
“We are simplifying access to credit, reimagining digital banking, and investing in talent and ideas that will shape the future. We will continue to strengthen our competitive edge by modernising our platforms, empowering our teams, and staying ahead of shifts in customer behaviour through smart and revolutionary solutions.”
The bank posted 3% increase in its standalone net profit for the December quarter at Rs.6,490 crore over the corresponding period last year.
Net Interest Income was up 5% to ₹14,287 crore, while Net Interest Margin was down to 3.64%. from 3.93%.
Total deposits of the bank rose 15% to ₹12,60,786 crore and net advances by 14% to ₹11,59,052 crore.
Gross NPA declined by 6bps to 1.40% and net NPA by 7 bps to 0.42%. Provision Coverage Ratio was 70% and the bank reported Capital Adequacy Ratio of 16.55%.Bottom of Form