India Earnings season: (Bank Results Season) : Axis grows NPA beyond expectations

As usual the NPAs of 687 cr or 6.87 bln would be marked to high growth in some long term analysis with NIMs still 3.75% and gross NPAs still 1.10%

CAR also seems ok-ish and not too great at 11.78% Can’t match the growth in NPAs to a PCR of 87.7%, harddly management attempt at efficiency, likely an anachronism. Write offs as expected never went near

Images_IRRIDB0210_DSC_3980
Image by IRRI Images via Flickr

even 2-3% of net worth with a NPAT of 11.5 bln above expectations. NII is 21.4 bln and growth in sales is 23% (incl other income) Asset book must have grown largely in retail

I am ready to short every fin stock at 5050, probably results season is good but the marks have been reached

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