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Axis Bank plans to raise Rs 35,000 crore

Axis Bank board has already given an approval to raise funds in Indian or foreign currency by issue of debt instruments up to an amount of Rs 35,000 crore

twitter-logo PTI        Last Updated: April 26, 2019  | 22:35 IST
Axis Bank plans to raise Rs 35,000 crore
A decision in this regard will be taken at the Axis Bank AGM on July 20

Private sector lender Axis Bank on Friday said it plans to raise Rs 35,000 crore debt instrument, including in foreign currency, to fund business growth.

The decision in this regard will be taken at the annual general meeting held on July 20.

The board has already given an approval to raise funds in Indian or foreign currency by issue of debt instruments including but not limited to long-term bonds, non-convertible debentures, perpetual debt instruments and tier-II capital bonds up to an amount of Rs 35,000 crore, Axis Bank said in a regulatory filing.

The bank has reported a net profit of Rs 1,505 crore for the March quarter of 2018-19 as against a net loss of Rs 2,188 crore in the corresponding quarter of the previous fiscal.

Gross non-performing assets as percentage of loans has declined to 5.26 per cent in the March quarter of 2018-19, from 6.77 per cent in the year-ago period.

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