Axis Bank has received an approval for allotment of 3 years Senior Floating Rate Notes aggregating to $10 million, under the Bank’s MTN Programme through its Dubai International Financial Centre (DIFC) branch. The board of directors of the Bank has passed a resolution for the same.
The Bank has reported 73.36% fall in its net profit at Rs 579.57 crore for third quarter ended December 31, 2016, as compared to Rs 2175.30 crore for the same quarter in the previous year. However, total income of the Bank increased by 15.72% at Rs 14501.21 crore for Q3FY17 as compared Rs 12531.11 crore for the corresponding quarter previous year.
The Bank’s gross NPA for the October-December quarter of the current fiscal increased to 5.22%, as compared to 1.68% in the same quarter of the previous year. Besides, Bank’s Net NPA stood at 2.18% in Q3FY17.