Mumbai: Axis Bank reported robust growth in advances and deposits for the quarter ended September 30, 2026, with gross advances rising 22.7 per cent year-on-year and total deposits increasing 20.7 per cent, according to provisional figures disclosed to stock exchanges.
Advances Gain Pace
The private sector lender’s gross advances stood at Rs 13.85 lakh crore at September-end, compared with Rs 11.28 lakh crore a year earlier. On a sequential basis, advances increased 8.8 per cent from Rs 12.73 lakh crore at June-end.
However, growth was partly influenced by loans linked to FCNR (B) deposits. Excluding loans extended by international branches as a leveraging facility for such deposits, gross advances grew 18.8 per cent year-on-year and 5.3 per cent quarter-on-quarter.
Deposits Stay Strong
Total deposits reached Rs 14.52 lakh crore, up 20.7 per cent year-on-year and 5.8 per cent sequentially. CASA deposits rose 10.6 per cent annually to Rs 5.30 lakh crore, while term deposits climbed 27.3 per cent to Rs 9.23 lakh crore.
Quarterly average deposits increased 22.5 per cent year-on-year to Rs 13.96 lakh crore. Average CASA deposits rose 13.9 per cent to Rs 4.94 lakh crore, while average term deposits jumped 27.8 per cent to Rs 9.02 lakh crore.
FCNR Deposits Boost Numbers
Axis Bank said it mobilised USD 10.62 billion, or Rs 1.02 lakh crore, in FCNR (B) deposits under the Reserve Bank of India’s swap facility. Part of these flows was used to reduce non-retail term deposits, which declined 8.6 per cent sequentially.
Loans extended by the bank’s international branches for placing these deposits totalled USD 4.57 billion, or Rs 43,800 crore. Excluding the related impact, total deposits grew 17 per cent year-on-year and 2.6 per cent sequentially.
The bank also issued standby letters of credit worth USD 4.69 billion, or Rs 44,900 crore, to other banks for loans against FCNR (B) deposits. Axis Bank said the figures are provisional and will undergo limited review by its statutory auditors.
Disclaimer: This article is based on provisional data disclosed by Axis Bank to stock exchanges and is subject to statutory auditors’ review.
