Credit rating agency, CRISIL has assigned its ‘AAA/Stable’ rating to the Rs 6000 crore Infrastructure Bond Issue of Axis Bank. The rating agency has also reaffirmed its ratings on the certificates of deposit of the bank.
The ratings reflect Axis Bank's robust capitalisation, healthy resource profile, and strong earnings profile backed by high fee income. The bank’s asset quality performance, however, remains sensitive to stress in the corporate sector.
The bank’s net profit for first quarter ended June 30, 2014 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.
