Axis Bank on a provisioning spree as asset quality worries linger on - Mint

Keeping with its provisioning spree, the third-largest private sector lender set aside ₹4,580.65 crore as provisions towards potential stress in addition to normal slippages.

Axis Bank kept up with its cautious approach to asset quality in the September quarter notwithstanding encouraging signs of recovery in its balance sheet.

Keeping with its provisioning spree, the third-largest private sector lender set aside ₹4,580.65 crore as provisions towards potential stress in addition to normal slippages.

Of this, ₹1,864 crore was towards loans that the lender may end up restructuring to give relief to stressed borrowers.

The provisioning by Axis Bank indicates that the proportion of loans that may end up getting restructured won’t be a large one.

In the September quarter, the lender saw its fresh slippages double from the previous quarter, a sign that stress has increased.