AXIS BANK LTD. Q2 FY26 Results

Summary

In Q2FY26, AXIS Bank reported a 4% YOY growth in core operating profit, driven by stable NII, fee growth, and positive operating jaws YOY MEB? | QAB? basis. Total deposits increased by 11% | 10%, term deposits by 12% | 13%, CA by 13% | 7%, and SA by 6% | 4%. The bank's SBB?+SME+MC loans grew by 2,658 bn | 24% of total loans, up ~738 bps in the last 4 years YOY | QOQ basis. Fee income grew 5% QOQ and 10% YOY, with retail fee up 10% YOY. The bank's cost to assets stood at 2.38%, down 14 bps YOY. AXIS Bank acquired 1mn+ cards in Q2FY26 and achieved a key milestone of crossing 15mn+ Cards in force, with a market share of ~14%+. The bank maintained its market leading position in UPI Payer PSP, with a market share of ~37%5 and maintaining lowest technical declines amongst top 50 UPI Remitter Members®.

Key Highlights

1. 1

   Market share gains across deposits and advances both growing at 11% & 12% YOY respectively

2. 2

   H1 FY26 Core Operating Profit at 20,010 crores, up 4% YOY

3. 3

   Term deposits up 12% | 13%, CA up 13% | 7%, SA up 6% | 4%

4. 4

   SME loans up 19% | 9% QOQ, Corporate loans up 20% | 11% of which Mid-Corporate (MC) up 28% | 8%

5. 5

   Fee income grew 5% QOQ and 10% YOY, Retail fee up 10% YOY

6. 6

   CET-1 ratio at 14.43%, overall capital adequacy ratio (CAR) stood at 16.55%

7. 7

   Acquired 1mn+ cards in Q2FY26 and achieved a key milestone of crossing 15mn+ Cards in force, with a market share of ~14%+