AXIS Bank has received its board’s approval to raise funds by issue of debt instruments via private placements basis within the limits prescribed by RBI and other regulatory authorities from eligible investors, in one or more tranches.
Consequently, as per the business plan for the year, the bank proposes to raise the funds in domestic and/or overseas market, eligible for inclusion in Tier I and Tier II capital.
Axis Bank reported a 25.20% jump in its net profit at Rs 1,277.27 crore for the fourth quarter of the 2011-12 fiscal. It had a profit of Rs 1,020.11 crore in the January-March quarter of 2010-11. The total income of the bank during fourth quarter increased 31.47% to Rs 7,647.94 crore, from Rs 5,817.06 crore in the same quarter of the previous fiscal.
