Axis Bank Q4 Results Banks Posts 24861 Crore Net Profit In FY24 To Raise 55000 Cr Fund

Axis Bank Q4 Results: While announcing the results for the fourth quarter of the financial year 2023-24, Axis Bank said that the bank has made a total profit of Rs 7130 crore in the fourth quarter, whereas in the same quarter of the last financial year 2022-23, the bank has made a profit of Rs. There was a profit of Rs 5728.42 crore. The net interest income of the bank has increased by 22 percent to Rs 29,224.54 crore which was Rs 23,969.76 crore in the same quarter of the last financial year. Axis Bank will also give a dividend of 50 percent of the face value of Rs 2, i.e. Rs 1 per share, to its shareholders.

The board of Axis Bank, while giving its approval to the quarterly results, has given its approval to raise funds of Rs 55000 crore. This fund will be raised through debt and equity. Axis Bank will raise funds of Rs 35000 crore through debt which includes issuing long term bonds, masala bonds, green bonds, convertible debentures, non-convertible debentures, debt instruments, AT1 bonds, infrastructure bonds, and tier-2 capital bonds. So Rs 20000 crore will be raised through equity which will include equity shares, QIP (Qualified Institutions Placement), ADR, GDR preferential allotment.

On the results of Axis Bank, MD and CEO of the bank Amitabh Chaudhary said, Axis Bank has shown better progress during the financial year 2023-24. He said, we have focused on key areas like Bharat Banking, Digital and Touch. At the same time we have searched for new opportunities. Integration with the city is on track and will be completed in the next six months.

During the entire financial year, Axis Bank's profit has increased by 160 percent to Rs 24,861 crore. Axis Bank results have been declared after the market closes. However, in today's trading, Axis Bank stock closed at Rs 1063.25 with a rise of 0.71 percent.

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