Axis Bank’s board has approved issuance of long term bonds/non-convertible debentures upto Rs 6,000 crore on a private placement basis. The company’s board gave its approval for the same at its meeting held on August 21, 2014.
The approval of shareholders of the Bank in terms of the provisions of Companies Act, 2013 is proposed to be obtained by way of Postal Ballot.
The bank’s net profit for the quarter rose by 18.29% at Rs 1666.76 crore as compared to Rs 1408.93 crore for the quarter ended June 30, 2013. Its total income increased by 10.17% to Rs 9980.47 crore for the quarter under review from Rs 9059.12 crore for the corresponding quarter of the previous year.
