Axis Apr24

AXIS/CO/CS/51/2024-25
April 24, 2024
National Stock Exchange of India Limited BSE Limited

Exchange Plaza, 5th Floor 1st Floor,
Plot No. C/1, “G” Block P. J. Towers,
Bandra-Kurla Complex Dalal Street
Bandra (E), Mumbai – 400 051 Fort, Mumbai – 400 001
NSE Symbol: AXISBANK BSE Scrip Code: 532215
Dear Sir(s),
REF.: DISCLOSURE UNDER REGULATION 30 OF THE SEBI (LISTING OBLIGATIONS AND DISCLOSURE
REQUIREMENTS) REGULATIONS, 2015 (“SEBI LISTING REGULATIONS”)
SUB.: PRESS RELEASE AND INVESTOR PRESENTATION ON THE FINANCIAL RESULTS OF AXIS BANK
LIMITED (“BANK’) FOR THE QUARTER AND YEAR ENDED MARCH 31, 2024
In continuation to our letter no AXIS/CO/CS/42/2023-24 dated April 19, 2024, and pursuant to
Regulation 30 of the SEBI Listing Regulations, please find enclosed herewith a copy of the Press
Release and Investor Presentation on the Audited Standalone and Consolidated Financial
Results of the Bank for the quarter and year ended March 31, 2024.
This is for your information and records.
Thanking You.
Yours faithfully,
For Axis Bank Limited

Digitally signed
SANDEEP by SANDEEP
PODDAR
PODDAR Date: 2024.04.24
16:33:00 +05'30'
Sandeep Poddar
Company Secretary
PRESS RELEASE
AXIS BANK ANNOUNCES FINANCIAL RESULTS
FOR THE QUARTER AND YEAR ENDED 31st MARCH 2024
FY24 PAT at `24,861 crores up 160% YOY, NIM at 4.07% up 5 bps YOY, Consolidated ROA at 1.84%, up 99
bps YOY; Consolidated ROE at 19.29% up 1,003 bps YOY; aided by balanced deposit and loan growth of
13% and 14%, respectively
o Q4FY24 Net Interest Income grew 11% YOY and 4% QOQ, Q4FY24 NIM1 at 4.06% up 5 bps QOQ
o Q4FY24 fee income grew 23% YOY | 9% QOQ, Retail fee grew 33% YOY | 12% QOQ, granular fees at 93% of total fees
o Q4FY24 Operating profit grew 15% YOY & QOQ, PAT at `7,130 crores up 17% QOQ
o Q4FY24 Consolidated ROA | ROE on annualized basis at 2.07% | 20.87%, up 23 bps | 226 bps QOQ
o Bank’s total business grew 13% | 5% of which advances grew 14% | 4% and MEB2 deposits grew 13% | 6% on YOY | QOQ basis
o MEB retail term deposits grew 17% YOY & 5% QOQ, CASA grew 8% QOQ with CASA ratio at 43%
o Retail loans up 20% | 7%, SME up 17% | 5% on YOY | QOQ basis, Corporate loans (gross of IBPC3 sold) up 7% YOY
o Overall CAR stood at 16.63% with CET 1 ratio of 13.74%, organic net accretion4 to CET-1 of 44 bps in FY24
o GNPA% at 1.43% declined by 59 bps YOY and 15 bps QOQ, NNPA% at 0.31% declined by 8 bps YOY and 5 bps QOQ
o 1.24 million credit cards issued in Q4, CIF market share3 of 14%, card spends up 50% YOY
o Largest player in Merchant Acquiring with market share of 19.8%, incremental share of 28% in last one year5
The Board of Directors of Axis Bank Limited approved the financial results for the quarter and year ended 31st March 2024 at its
meeting held in Mumbai on Wednesday, 24th April 2024.
This financial year, Axis Bank carved out a path of strong growth, innovation and ‘many-firsts’. The Bank introduced 'open by Axis
Bank', its digital banking proposition, offering ~250 features through a modern, user-friendly interface. In a first, the 'One-View'
feature on the Bank’s mobile app allows customers to manage their finances seamlessly across various banks.
As a pioneer in embracing numerous innovative technological advancements, Axis was the first Bank to go live with UPI
interoperability on its CBDC App. It became the first bank to introduce digital US dollar fixed deposit (FD) for NRI customers at the
IFSC Banking Unit in GIFT City, Gujarat. The Bank also launched a first-of-its-kind comprehensive digital proposition "NEO for
Business" to cater to the new-age banking needs of MSMEs. In partnership with the RBI Innovation Hub, the Bank now provides
access to super-fast digital KCC and MSME loans. Axis Bank has taken significant strides in the adoption of Gen AI by rolling out
Microsoft Copilot across select user base, and also a GenAI-based chatbot for ~60,000 users across branches, for enhanced
customer service efficiency and personalized banking experiences.
Axis Bank inaugurated its milestone 5,000th branch at Ahmedabad. The Bank opened a new regional office in Ranchi as a central
hub to oversee banking operations for over 550 branches spread across Jharkhand, Bihar, Odisha, and Chhattisgarh. In
Karnataka, it boosted its presence with 21 new branches. A record 100+ new branches were inaugurated in Uttar Pradesh,
including an all-women managed branch in Moradabad. The Bank has been steadily gaining market share in the rural and semi
urban markets through its 2,482 Bharat Bank branches, complemented by a 64,600+ strong CSC VLE network.
Amitabh Chaudhry, MD&CEO, Axis Bank said, “In FY24, Axis Bank charted a course of steady progress. While we relentlessly
focused on our key priority areas - Bharat Banking, Digital and Sparsh (our customer obsession program), I believe we were also
nimble in picking up some enticing new opportunities that came our way. Our Citi integration is on track, and we are inching
towards the final milestone LD2 in the next six months. In keeping with our credo "Dil Se Open" and with DE&I as one of our core
pillars, we have made progress in cultivating a diverse and inclusive workforce in a nurturing ecosystem.”
1
1
Net Interest Margin, 2 Monthly End balances; 3 Inter Bank Participation Certificates, 4organic net accretion to CET-1 is computed and capital accreted through profits
less capital consumed for operations, excludes impact of regulatory risk weight changes; 5 Based on RBI reported data as of Mar’24
Performance at a Glance
• Strong operating performance
o Q4FY24 Operating revenue up 20% YOY | 10% QOQ
o Q4FY24 Consolidated ROE | ROA at 20.87% | 2.07%, subsidiaries contributed 52 bps | 7 bps respectively
o FY24 Net Interest Income grew 16% YOY; FY24 fee income grew 28% YOY, operating profit grew 16% YOY
• Healthy loan growth delivered across all business segments
o Advances (gross of IBPC sold) up 15% | 4%, Rural loans grew 30% | 15% on YOY | QOQ basis
o Small Business Banking loans grew 33% YOY & 7% QOQ, Mid-Corporate (MC) book grew 22% YOY
o SBB + SME + MC mix at ₹2,08,338 crores | 22% of loans, up ~628 bps in last 3 years
• Retail term deposits gaining traction, CASA ratio among the best in the industry
o On QAB1 basis, RTD grew 16% YOY & 3% QOQ, total deposits grew by 16% YOY & 5% QOQ
o Average LCR2 outflow rates improved ~ 500 bps over last 2 years
• Well capitalized with self-sustaining capital structure; adequate liquidity buffers
o Overall capital adequacy ratio (CAR) stood at 16.63% with CET 1 ratio of 13.74%
o Net organic accretion to CET-1 of 44 bps in FY24, 3 bps in Q4FY24
o `5,012 crores of COVID provisions reclassified to other provisions, not considered for CAR calculation,
provides additional cushion of ~41 bps over the reported CAR
o Excess SLR of `85,056 crores, Average LCR2 during Q4FY24 was ~120%
• Continue to maintain strong position in Payments and Digital Banking
o Axis Mobile & Axis Pay have ~11 mn non-Axis Bank customers
o 100+ digital partnerships across platforms and ecosystems; ~20 mn customers on WhatsApp banking
o Axis Mobile remains the world’s3 highest rated MB app on Google Play store with rating of 4.8; On the iOS
app store our ratings increased from 4.7 to 4.8 during the quarter; ~14 mn MAU4
o Credit card CIF market share at 14%, Retail Card spends grew 51% YOY
• Declining slippages, gross NPA and credit cost
o PCR healthy at 79%; On an aggregated basis5, Coverage ratio at 159%
o Gross slippage ratio6 at 1.48% declined 28 bps YOY & 14 bps QOQ, Net slippage ratio6 at 0.57%
o Q4FY24 net credit cost6 at 0.32%, FY24 net credit cost at 0.37% declined 3 bps YOY
• Key domestic subsidiaries7 continue to deliver steady performance
o FY24 profit at `1,591 crores up 22% YOY, with a return on investment of 54% in domestic subsidiaries
o Axis Finance FY24 PAT grew 28% YOY to `610 crores; asset quality metrics improve, ROE at 16.77%
o Axis AMC FY24 PAT stood at `414 crores, Axis Securities FY24 PAT grew 48% YOY to `301 crores
o Axis Capital FY24 PAT stood at `150 crores and executed 90 investment banking deals in FY24
1
QAB – Quarterly Average Balance, 2 Liquidity Coverage Ratio 3 across 64 global banks, 82 fintechs and 9 neo banks with 2.6 mn+ reviews
4
Monthly active users, engaging in financial and non-financial transactions,
5
(specific+ standard+ additional + COVID) 6 Annualized 7
Figures of subsidiaries are as per Indian GAAP, as used for consolidated financial statements of the Group
2
Profit & Loss Account: Period ended 31st March 2024
Operating Profit and Net Profit

The Bank’s operating profit for the quarter stood at `10,536 crores, grew 15% YOY and 15% QOQ. Core Operating profit
for Q4FY24 at `9,515 crores, grew 5% YOY and 8% QOQ. Net profit stood at `7,130 crores in Q4FY24 as compared to net
loss of `5,728 crores in Q4FY23, and grew 17% QOQ.
Net Interest Income and Net Interest Margin

The Bank’s Net Interest Income (NII) grew 11% YOY and 4% QOQ to `13,089 crores. Net interest margin (NIM) for Q4FY24
stood at 4.06% and grew 5 bps QOQ.
Other Income
Fee income for Q4FY24 grew 23% YOY and 9% QOQ to `5,637 crores. Retail fees grew 33% YOY and 12% QOQ; and
constituted 74% of the Bank’s total fee income. Retail cards and payments fee grew 39% YOY and 4% QOQ. Retail Assets
(excluding cards and payments) fee grew 20% YOY. Fees from Third Party Products grew 59% YOY and 44% QOQ. The
Corporate & Commercial banking fees together grew 2% YOY to `1,478 crores. The trading income gain for the quarter
stood at `1,021 crores; miscellaneous income in Q4FY24 stood at `107 crores. Overall, non-interest income (comprising of
fee, trading and miscellaneous income) for Q4FY24 grew 41% YOY and 22% QOQ to `6,766 crores.
Provisions and contingencies

Provision and contingencies for Q4FY24 stood at `1,185 crores. Specific loan loss provisions for Q4FY24 stood at `832
crores. The Bank has not utilized Covid provisions during the quarter and these are reclassified to other provisions. The
Bank holds cumulative provisions (standard + additional other than NPA) of `12,134 crores at the end of Q4FY24. It is
pertinent to note that this is over and above the NPA provisioning included in our PCR calculations. These cumulative
provisions translate to a standard asset coverage of 1.26% as on 31st March 2024. On an aggregated basis, our provision
coverage ratio (including specific + standard and other provisions) stands at 159% of GNPA as on 31st March 2024. Credit
cost for the quarter ended 31st March 2024 stood at 0.32%.
FY24 Financial Performance:

Net Interest Income for FY24 grew 16% YOY to `49,894 crores from `42,946 crores. Fee income grew 28% YOY to `20,257
crores. Operating profit grew by 16% to `37,123 crores from `32,048 crores in FY23. Core operating profit grew by 10% to
`35,393 crores from `32,291 crores in FY23. Total provisions for FY24 stood at `4,063 crores, up 53% YOY. Net Profit for
FY24 grew 160% to `24,861 crores from `9,580 crores in FY23.
Balance Sheet: As on 31st March 2024
The Bank’s balance sheet grew 12% YOY and stood at `14,77,209 crores as on 31st March 2024. The total deposits grew
13% YOY and 6% QOQ on period end basis, of which savings account deposits grew 2% YOY and 4% QOQ, current
3
account deposits grew 5% YOY and 18% QOQ; total term deposits grew 22% YOY and 5% QOQ of which retail term
deposits grew 17% YOY and 5% QOQ. The share of CASA deposits in total deposits stood at 43%. On QAB basis, total
deposits grew 16% YOY and 5% QOQ, within which savings account deposits grew 10% YOY, current account deposits
grew 4% YOY and 7% QOQ. Total term deposits on QAB basis grew 23% YOY and 7% QOQ with retail term deposits
growth of 16% YOY and 3% QOQ.
The Bank’s advances grew 14% YOY and 4% QOQ to `9,65,068 crores as on 31st March 2024. Gross of transfers through
Inter Bank Participation Certificates (IBPC), total Bank advances grew 15% YOY and 4% QOQ. Domestic net loans grew
15% YOY and 4% QOQ. Retail loans grew 20% YOY and 7% QOQ to `5,83,265 crores and accounted for 60% of the net
advances of the Bank. The share of secured retail loans$ was ~ 72%, with home loans comprising 28% of the retail book.
Home loans grew 5% YOY, Personal loans grew 31% YOY, Credit card advances grew 30% YOY, Small Business Banking
(SBB) grew 33% YOY and 7% QOQ; and rural loan portfolio grew 30% YOY and 15% QOQ. SME book remains well
diversified across geographies and sectors, grew 17% YOY and 5% QOQ to `1,04,718 crores. Corporate loan book (gross
of IBPC sold) grew 7% YOY; domestic corporate book grew 6% YOY. Mid-corporate book grew 22% YOY and 3% QOQ.
89% of corporate book is now rated A- and above with 88% of incremental sanctions in FY24 being to corporates rated A-
and above.
The book value of the Bank’s Investments portfolio as on 31st March 2024, was `3,31,527 crores, of which `2,47,816 crores
were in government securities, while `74,093 crores were invested in corporate bonds and `9,618 crores in other securities
such as equities, mutual funds, etc. Out of these, 65% are in Held till Maturity (HTM) category, while 23% of investments
are Available for Sale (AFS) and 12% are in Held for Trading (HFT) category.
Payments and Digital

The Bank issued 1.24 million new credit cards in Q4FY24 and has been one of the highest credit card issuers in the country
over last nine quarters. The Bank continues to remain among the top players in the Retail Digital banking space.
• 96% - Share of digital transactions in the Bank’s total financial transactions by individual customers in Q4FY24
• 79% - Individual Retail term deposits (by volume) opened digitally in FY24
• 70% - SA accounts opened through tab banking in Q4FY24
• 74% - New mutual fund SIPs sourced (by volume) through digital channels in FY24
• 39% - YOY growth in total UPI transaction value in Q4FY24
• 52% - YOY growth in mobile banking transaction volumes in Q4FY24
The Bank’s focus remains on reimagining end-to-end journeys and transforming the core and becoming a partner of choice
for ecosystems. Axis Mobile is among the world’s* highest rated mobile banking app on Google Play store with rating of 4.8
and over 2.6 million reviews. On the iOS app store our ratings increased from 4.7 to 4.8 during the quarter. The Bank’s
mobile app continues to see strong growth, with Monthly Active Users of ~14 million and nearly ~11 million non-Axis Bank
customers using Axis Mobile and Axis Pay apps. The Bank has been among the first to go live on Account Aggregator (AA)
$
as per Bank’s internal classification
1
as per RBI reported data as of Feb ’24 , * across 64 global banks, 82 fintechs and 9 neo banks on Google Playstore with 2.6 mn+ reviews
4
network and has seen strong initial traction in AA based digital lending. The Bank now has over 100+ partnerships across
platforms and ecosystems and has 410+ APIs hosted on its API Developer Portal. On WhatsApp banking, the Bank now
has over 20 million customers on board since its launch in 2021.
Wealth Management Business – Burgundy

The Bank’s wealth management business is among the largest in India with assets under management (AUM) of `5,36,609
crores as at end of 31st March 2024 that grew 50% YOY and 6% QOQ. Burgundy Private, the Bank’s proposition for high
and ultra-high net worth clients, covers 10,651 families. The AUM for Burgundy Private increased 33% YOY and 3% QOQ
to `1,83,048 crores.
Capital Adequacy and Shareholders’ Funds

The shareholders’ funds of the Bank grew 20% YOY and stood at `1,50,235 crores as on 31st March 2024. The Bank now
has a self-sustaining capital structure to fund growth, with organic net capital accretion through profits to CET-1 of 44 bps
for the FY24. As on 31st March 2024, the Capital Adequacy Ratio (CAR) and CET1 ratio was 16.63% and 13.74%
respectively. Additionally, `5,012 crores of COVID provision has been reclassified to other provisions and is not considered
for CAR calculation, providing cushion of ~41 bps over the reported CAR. The Book value per equity share increased from
`406 as of 31st March 2023 to `487 as of 31st March 2024.
Asset Quality
As on 31st March, 2024 the Bank’s reported Gross NPA and Net NPA levels were 1.43% and 0.31% respectively as against
1.58% and 0.36% as on 31st December 2023. Recoveries from written off accounts for the quarter was `919 crores.
Reported net slippages in the quarter adjusted for recoveries from written off pool was `398 crores, of which retail was
`1,061 crores, CBG was negative `62 crores and Wholesale was negative `601 crores.
Gross slippages during the quarter were `3,471 crores, compared to `3,715 crores in Q3FY24 and `3,375 crores in
Q4FY23. Recoveries and upgrades from NPAs during the quarter were `2,155 crores. The Bank in the quarter wrote off
NPAs aggregating `2,082 crores.
As on 31st March 2024, the Bank’s provision coverage, as a proportion of Gross NPAs stood at 79%, as compared to 81%
as at 31st March 2023 and 78% as at 31st December 2023.
The fund based outstanding of standard restructured loans implemented under resolution framework for COVID-19 related
stress (Covid 1.0 and Covid 2.0) declined during the quarter and as at 31st March 2024 stood at `1,528 crores that translates
to 0.14% of the gross customer assets. The Bank carries a provision of ~ 20% on restructured loans, which is in excess of
regulatory limits.
Dividend
The Board of Directors has recommended dividend of `1 per equity share of face value of `2 per equity share for the year
ended 31st March 2024. This would be subject to approval by the shareholders at the next annual general meeting.
5
Network
The Bank added 125 branches during the quarter and 475 overall in the FY24 period, taking its overall distribution network
to 5,377 domestic branches and extension counters situated across 2,963 centres compared to 4,903 domestic branches
and extension counters situated in 2,741 centres as at 31st March 2023. As on 31st March 2024, the Bank had 16,026 ATMs
and cash recyclers spread across the country. The Bank’s Axis Virtual Centre is present across six centres with over ~1,590
Virtual Relationship Managers as on 31st March 2024.
Key Subsidiaries’ Performance
The Bank’s domestic subsidiaries delivered steady performance with FY24 PAT of `1,591 crores, up 22% YOY.
• Axis Finance: Axis Finance has been investing in building a strong customer focused franchise. Its overall assets
under finance grew 38% YOY. Retail book grew 51% YOY and constituted 45% of total loans, up from 28% three
years ago. The focus in its wholesale business continues to be on well rated companies and cash flow backed
transactions. Axis Finance remains well capitalized with total Capital Adequacy Ratio of 19.24%. The book quality
remains strong with net NPA at 0.28%. Axis Finance FY24 PAT was `610 crores, up 28% YOY from `475 crores
in FY23.
• Axis AMC: Axis AMC’s overall QAAUM grew 14% YOY to `2,74,265 crores. Its FY24 PAT stood at `414 crores.
• Axis Capital: Axis Capital FY24 PAT stood at `150 crores and completed 90 investment banking transactions in
FY24.
• Axis Securities: Axis Securities’ broking revenues for FY24 grew 58% YOY to `1,143 crores. Its FY24 PAT grew
48% YOY and stood at `301 crores.
6
` crore
Financial Performance Q4FY24 Q4FY23 % Growth FY24 FY23 % Growth

Net Interest Income 13,089 11,742 11% 49,894 42,946 16%
Other Income 6,766 4,788 41% 22,442 16,143 39%

- Fee Income 5,637 4,569 23% 20,257 15,858 28%
- Trading Income 1,021 83 - 1,731 (242) -
- Miscellaneous Income 108 136 (21%) 454 527 (14%)
Operating Revenue 19,855 16,530 20% 72,336 59,089 22%

Core Operating Revenue# 18,834 16,447 15% 70,606 59,332 19%
Operating Expenses 9,319 7,362 27% 35,213 27,041 30%
Operating Profit 10,536 9,168 15% 37,123 32,048 16%
Core Operating Profit# 9,515 9,084 5% 35,393 32,291 10%
Net Profit/(Loss)* 7,130 (5,728) - 24,861 9,580 160%

EPS Diluted (`) annualized* 92.34 (75.53) 80.10 31.02
Return on Average Assets (annualized)* 2.00% (1.83%) 1.83% 0.80%
Return on Equity (annualized)* 20.35% (19.20%) 18.86% 8.47%
# excluding trading income
* Q4FY23 and FY23 numbers include impact of exceptional items relating to the Citibank business acquisition. Exceptional
Items for Q4FY23 and FY 24 comprise of (i) full amortization of Intangibles and Goodwill (ii) impact of policy harmonization
on operating expenses and provisions; and (iii) one-time stamp duty costs. The table below provides Q4FY23 and FY23
numbers excluding exceptional items described above.
` crore
Financial Performance Q4FY23 FY24
Net Profit/(Loss) 6,625 21,933
EPS Diluted (`) annualized 86.31 71.03
Return on Average Assets (annualized) 2.10% 1.82%
Return on Equity (annualized) 21.12% 18.38%
7
` crore
As on As on
Balance Sheet st 31st March’23
31 March’24
CAPITAL AND LIABILITIES
Capital 617 615
Reserves & Surplus 1,49,618 1,24,378
Employee Stock Options Outstanding 827 424
Deposits 10,68,641 9,46,945
Borrowings 1,96,812 1,86,300
Other Liabilities and Provisions 60,694 58,664
Total 14,77,209 13,17,326
ASSETS
Cash and Balances with RBI and Banks and
1,14,455 1,06,411
Money at Call and Short Notice
Investments 3,31,527 2,88,815
Advances 9,65,068 8,45,303
Fixed Assets 5,685 4,734
Other Assets 60,474 72,063
Total 14,77,209 13,17,326
Note - Prior period numbers have been regrouped as applicable for comparison.
` crore
As on As on
Business Performance st st % Growth
31 March’24 31 March’23
Total Deposits (i)+(ii) 10,68,641 9,46,945 13%
(i) CASA Deposits 4,59,401 4,46,536 3%

- Savings Bank Deposits 3,02,133 2,97,416 2%
- Current Account Deposits 1,57,268 1,49,120 5%
CASA Deposits as % of Total Deposits 43% 47%
(ii) Term Deposits 6,09,241 5,00,409 22%

- Retail Term Deposits 3,55,623 3,03,706 17%
- Non Retail Term Deposits 2,53,618 1,96,703 29%
CASA Deposits on a Quarterly Daily Average Basis

4,04,335 3,74,131 8%
(QAB)
CASA Deposits as % of Total Deposits (QAB) 41% 44%
Net Advances (a) +(b) + (c) 9,65,068 8,45,303 14%

(a) Corporate 2,77,086 2,68,334 3%
(b) SME 1,04,718 89,398 17%
(c) Retail 5,83,265 4,87,571 20%
8
As on As on
Business Performance st st % Growth
31 March’24 31 March’23
Investments 3,31,527 2,88,815 15%
Balance Sheet Size 14,77,209 13,17,326 12%
Gross NPA as % of Gross Customer Assets 1.43% 2.02%

Net NPA as % of Net Customer Assets 0.31% 0.39%
Equity Capital 617 615 0.3%

Shareholders’ Funds 1,50,235 1,24,993 20%
Capital Adequacy Ratio (Basel III) 16.63% 17.64%

- Tier I 14.20% 14.57%
- Tier II 2.43% 3.07%
Note - Prior period numbers have been regrouped as applicable for comparison.
A presentation for investors is being separately placed on the Bank's website: www.axisbank.com.
For press queries, please contact Ms Piyali Reddy at 91-22-24252021 or email: Piyali.Reddy@axisbank.com
Safe Harbor
Except for the historical information contained herein, statements in this release which contain words or phrases such as
“will”, “aim”, “will likely result”, “would”, “believe”, “may”, “expect”, “will continue”, “anticipate”, “estimate”, “intend”, “plan”,
“contemplate”, “seek to”, “future”, “objective”, “goal”, “strategy”, “philosophy”, “project”, “should”, “will pursue” and similar
expressions or variations of such expressions may constitute "forward-looking statements". These forward-looking
statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from
those suggested by the forward-looking statements. These risks and uncertainties include, but are not limited to our ability
to successfully implement our strategy, future levels of non-performing loans, our growth and expansion, the adequacy of
our allowance for credit losses, our provisioning policies, technological changes, investment income, cash flow projections,
our exposure to market risks as well as other risks. Axis Bank Limited undertakes no obligation to update forward-looking
statements to reflect events or circumstances after the date thereof.
9
Investor Presentation
Quarterly Results Q4FY24
NSE: AXISBANK BSE: 532215 LSE (GDR): AXB

Axis Bank at a glance
3rd ~ 48 mn 1,04,000+ 5,377

Axis Bank Employees Branches*
largest Private Bank in India Customers
5.5% 5.0% 5.9% 14.0%

Market Share Assets 1
Deposits 1
Advances 1 Credit Cards 2
Profitability 19.29% 4.06% 2.95% 2.55%

Consolidated ROE (FY24) Net Interest Margin 3 Operating Profit Margin 3 Cost to Assets 3
Balance Sheet 16.63% | 13.74% `121 Bn | 1.26% 79% | 0.31%

Cumulative provisions
CAR ** CET 1 ** PCR Net NPA
(standard + additional non-NPA)
28% 10% 2rd 48%

Key Subsidiaries Growth in Axis Finance PAT Growth in Axis AMC Axis Capital’s position in Growth in Axis Securities
(FY24) Revenue (FY24) ECM 4 PAT (FY24)
1 Based on Mar’24 data (excluding merger impact of large NBFC with bank) 2 Credit Cards in force as of Mar’24
3
for Q4FY24
4
As per Prime Database rankings for Equity Capital Markets for FY24
*domestic network including extension counters **CAR – Capital Adequacy ratio; CET 1 – Common Equity Tier 1 ratio 2
Our House of GPS remains relevant, we have strengthened it with
distinctiveness and identified focus themes to take charge
Identified areas of distinctiveness
Sustained, Consistent Financial Outperformance with focus on Customer Obsession
Deliver world class customer experience led by project Sparsh ‘Sparsh’ and serving the high
growth potential RUSU markets as
Build India’s most profitable Bharat Banking franchise part of Bharat Banking
Leadership in Digital with best-in-class capabilities Leadership in Digital and
Technology to drive productivity,
Growth Profitability
scale and profitability
▪ Deposit Mobilization to drive loan growth
▪ Driving higher growth in high RAROC focus

One Axis ▪ Structural improvement in quality of
segments earnings with consistent delivery
positions us well for the future
▪ Creating multiplicative forces to build
competitive advantage
Sustainability Bolstered the Sustainability

elements with focus on
▪ Strengthened Governance and Culture across operational risk, audit and compliance Executional Excellence,
▪ Strong balance sheet with best-in-class asset quality metrics and self-sustaining capital structure to fund growth People Proposition and
Operational Risk and
▪ Our cutting-edge data analytics capabilities and leadership in technology continue to accelerate our distinctiveness journey
Compliance
▪ Enhancing People Proposition and Executional Excellence
Customer Centricity Ethics Transparency Teamwork Ownership

Bank’s Core Values
Quarterly Results
Quarterly Q4FY24
Results Q4FY24 3
Axis Bank Document Classification | Confidential 3
Consistent execution on our GPS strategy positions us well for
the future
A Resilient, all-weather franchise
GPS commitments have been delivered…
i. Lifted the growth trajectory across business segments
ii. Delivered aspirational return ratios with better quality and consistency of earnings
iii. Core strengthened, with strong balance sheet position and next generation tech architecture
B Creating multiplicative forces to build competitive advantage

i. Multiple partnerships and key transformation projects to augment new customer acquisitions
ii. Continue to build scale and create significant value in key subsidiaries
iii. One Axis positions us well to play all the socio-economic mega trends of the next decade and beyond
C Building for the future

i. Digital continues to be an area of relentless focus
ii. Driving distinctiveness through ‘Bharat Banking’ and ‘Sparsh’ our customer obsession project
iii. Enhancing People proposition and ESG focus continue to have Bank-wide sponsorship
Quarterly Results Q4FY24 4

A
Delivered GPS commitments....
FY19 FY24
Advances
mkt share
4.9% 5.9% Incremental market
Deposits share of 6.6% and 6.1%
mkt share
4.3% 5.0% in advances and
Growth (1) (2)
deposits for the last 5
Operating 8% 17% years
Revenue growth
Cons ROA 0.66% 1.84%

Return on investment in
Cons ROE 8.58% 19.29% subsidiaries of 54% in FY24
Profitability
NIM 3.43% 4.07%
CET 1 11.27% 13.74% 41 bps of additional provision

buffer not counted as capital
(3)
PCR 62% 79% Standard asset coverage
Sustainability ratio at 1.26%
Net NPA 2.06% 0.31%
(1) CAGR during FY16 to FY19 period (2) CAGR for FY19 to FY24 period (3) excluding technical writeoffs
Public
A
… and along with consistent and robust improvement in
shareholder return metrics
Trend in Consolidated ROA and ROE
2.00%
1.8% 1.8%
1.80%
1.60%
1.3%
1.40%
0.7%
1.20%
1.00%
0.80%
Consolidated ROA
0.60%
0.40%
0.2%
0.20%
0.00%
18.8% 19.3%
13.7%
8.2%
Consolidated ROE
2.7%
FY20 FY21 FY22 FY23 * FY24

* excluding exceptional items (EI) on account of acquisition of Citibank India Consumer Business (‘CICB’) 6
A
Delivered significant improvement in the quality of our deposit franchise
We have grown deposits faster than the industry… … CASA to average assets ratio is the best amongst the peers…
15%
32.0%
11% 30.0%
26.0%
Last 5 yrs CAGR CASA to Average Assets

Industry Axis Peer 1 Peer 2 Axis Bank
Source: RBI, Axis Bank reported data
(1) (1)
… Retail LCR deposits growing faster than overall deposits …Outflow rates the best amongst large peer banks
5.0% 28.9%
25.0% 24.5% 25.0% 23.9%
23.1%
2.0%
0.0%
-1.0% Mar'22 Mar'24
Peer 1 Peer 2 Axis Bank

-3.0% -3.0%
Last 1 yr Last 2 yrs
Peer 1 Peer 2 Axis Bank
(1) Source : LCR disclosures of peer banks, differential is over the reported growth for period end overall deposits, For peer 2, Q3FY24 numbers have been taken Quarterly Results Q4FY24
(2) CASA to average assets = CASA MEB deposits as of Mar’24 / (Average assets for Q4FY24); for peer 2, Q3FY24 numbers have been taken 7
A
Lifted growth momentum across our risk adjusted, higher yielding
segments 50%
Retail Segment
SBB, 43%
45%
40%
35%
Business Segment wise Credit Cards, 29% 25%
30% Rural loan , 25% CAGR (since FY20) in Focus
25%
LAP, 23% business segments
Retail , 19% 25%
SME, 19%
20% 20%
Personal loan , 16%
15% Home Loan , 11%
15% 10%
Auto loan, 11% 43%
5% Proportion of Focus
10% Corporate, 7% Total Bank Wholesale Segment business segments in
Advances, 15% 45% Bank’s total advances
(as of Mar’24)
40% MC, 37%
5%
Growth*
35%
0% 30%
7.0% 8.0% 9.0% 10.0% 11.0% 12.0% ~1210 bps
25% Increase in share of Focus
MNC, 28%
business segments in
SME, 19% last 4 years
20%
15%
10% C&LC, 9%
5%
Yield * Focus segments for the Bank include Small Business Banking (SBB), Small & Medium Enterprises
(SME), Mid Corporate, Rural, Personal Loans (PL) and Credit Card Advances Quarterly Results Q4FY24 8
*CAGR (for last 4 yrs) C&LC - Conglomerates & Large Corporates, MNC - Multinational Corporate, MC – Mid Corporate Group
A
Sustained execution resulting in consolidation of our position
across various businesses
Credit cards CIF Market Share Burgundy AUM CASA deposits
In Mn ` trillion 50% YOY
` trillion
32% CAGR 5.37 14% CAGR 4.6
14.0%
12.7%
2.4
1.33
Mar'19 Mar'24 FY19 FY24 Mar'19 Mar'24
4th largest Credit Card player, closed gap 3rd largest Private Banking and
CASA deposits franchise is now among the
significantly with 3rd ranked player on Wealth Management franchise with 35
best in industry with 43% CASA ratio*
card advances outstanding & CIF of top 100 individuals as clients
SBB + SME + MC segment growth Mobile Banking Leader in Wholesale
` billion 22% YOY

21% CAGR
2083
4.8 1st 1st
Mobile app rating on Google Play ECM Ranking – no of deals on Bloomberg DCM league table
Store, highest among global peers since Mar’20 (Prime Database) for 16 straight years (2007-22)
809
~14 Mn NEO
Mar'19 Mar'24 Monthly active users on Axis reflects our strategy and aspirational path to be
Mobile app the Best Digital Wholesale Bank in India
SBB+ SME + MC segment has World’s highest rated Mobile Banking App, Amongst the best and most comprehensive
scaled up significantly doubling up as our largest branch Wholesale Banking franchise
* as a % of deposits Quarterly Results Q4FY24 9
A
Structurally improved NIMs, while maintaining credit RWA…
(1)
Structurally improved NIM trajectory…
…led by key business drivers
4.07%
4.02% Retail & SME as % of loan book
71%
3.51% 3.53% 62%

3.43%
24 bps
3.47% Improvement in NIMs
NIMs through cycle **
Mar-20 Mar-24
FY19 FY20 FY21 FY22 FY23 FY24 Non INR book as % of overall book
** Average NIMs for FY20 till FY24 as compared to average of previous 15 years from FY05 till FY19
10.2%
Trend in Standalone ROA and RoRWA

61% 3.8%
60% #
58%
Credit RWA^ 57%
55%
54% Mar-20 Mar-24
(2)
2.81% 2.67%
#
Reducing share of low yielding RIDF bonds
(As a % of total assets)
1.94% 1.82% 1.83% 5.1%
1.07% 1.21%
0.88% 1.5%
0.63% 0.70%
0.20% 0.28%
Mar-20 Mar-24
FY19 FY20 FY21 FY22 FY23 * FY24 (1) Net Interest Margin (2) Rural Infrastructure Development Fund
^ Average for the fiscal year Standalone ROA Standalone RoRWA Quarterly Results Q4FY24
10
* excluding exceptional Items # impact of regulatory changes Public
A
… and strong growth in granular fees which is among the best in
industry
Improved the fee profile significantly in last few years
Granular* Fee 1.35%

to Avg Assets
1.20% 1.18%
1.17%
1.10%
1.02%
FY19 FY20 FY21 FY22 FY23 FY24
~93% ~600 bps 19%

Share of granular Retail & Improvement in proportion of
Retail fee CAGR (since FY19)
transaction banking related fee granular fees since FY19
(in FY24)
Quarterly
Axis Bank Document Results Q4FY24
Classification | Confidential 11
* Granular fee includes Retail, Transaction Banking, Trade, Forex and Financial Institutional payments related fee
Public
A
Core strengthened, with strong balance sheet position and next
generation tech architecture
Strong Balance
Sheet
~383 bps ~1700 bps 1.26%
Reduction in Gross NPA Improvement in PCR Cumulative provisions as % of
ratio since Mar’19 since Mar’19 overall book (as of Mar’24)
Healthy Capital 13.74% 44 bps 41 bps

position CET-1 Capital Net CET-1 organic accretion in Additional cushion on account
last 4 quarters of provision buffers
1st 1st 810

Resilient and scalable Indian Bank to be ISO Indian Bank to roll-out Best-in-class
systems infrastructure certified for its AWS and MS GenAI Co-pilot BitSight (1) rating in BFSI
Azure Cloud security

(1) BitSightSecurity Ratings as of Mar’2024 –higher the rating, the more effective the company is in implementing good security practices
B
Partnerships as a channel has significant potential to augment our customer base
We have 100+ Partnerships across Platforms and Ecosystems
Aggregators
Mobility E-commerce Telecom
Enablers Neo-Banks Remittance Platforms
APIs hosted on Bank’s 410+ 285+ 25+

API Developer Portal Total APIs Retail APIs Connected APIs

13
B Multiplicative forces through unification of One Axis, partnerships
and new age tech platforms gives the right to win
Digital 2.0. Partnerships

One Axis `1,591 Cr
Combined PAT for operating
Retail domestic subsidiaires
Assets
64,550+
Wholesale Retail Bharat Banking Common Service Centre Village
Bank Liabilities level entrepreneurs
14 mn
Digital
Bharat Mobile Banking Monthly active users
Citi
Banking GPS franchise
Citi Franchise 1600
Cards & Suvidha Corporates
Subsidiaries Payments
17K+
Personalization Nudge variants live
SME
Transformation Universal ~19 Crore
Projects Universal Underwriting Underwriting Stamped lendable base out of 76
Crore identified lendable population
& Personalisation
SPARSH Quarterly Results Q4FY24

14
Public
B
Integration of acquired Citi Consumer Franchise remains on track
Apr ‘22 Jul ‘22 1st Mar '23 H1 FY25
Announcement of LD1 LD2

CCI approval
merger Legal merger System integration
• The ex-Citi colleagues have welcomed the opportunity to take on larger responsibilities
(1)
• The portfolio metrics trending in-line with deal projections
Growth in TD balances from acquired customers and

Deposit balances ~100% boost to new Suvidha customer acquisition
~120% Offering the expanded suite of investment products to

Wealth AUM
wealth clients
~140% Active cross-sell to acquired customers; Card base

Loan balances stable. Expanding distribution beyond 8 metros

1) % value achievement as on Mar 31, 2024 indexed to deal projections used for determining purchase
Public consideration
B
Axis continues to be well positioned to capitalize on India’s
growth story Manufacturing surge
GDP share to increase to 25% by 2025
Revival in capex / investment cycle
Innovation
India emerging as a leader in Investment to GDP ratio has bottomed, and
Wholesale & set to rise to 34% by 2030
FinTech innovation
Axis Finance
o, e
M ATr
Digital platforms SME & Atmanirbhar businesses
C ed
ch e
g
ree , N
&
Financial ecosystem rapidly digitizing Credit gap in MSME was Rs. 25 tn (2022)
ar
CB s
& F pen
backed by robust public infrastructure
G,
O
One Axis
, Axis Cap.
Axis Sec. Many
Axis Pension
ara nding
Retai undy
Consumption boom
nk
Rising financial inclusion possibilities
Burg
t Ba
Financial inclusion index at 60.1 in Consumer spending to see growth of
l lia W
e
Mar’23 vs 56.4 in Mar’22 ~10% (CAGR) up to 2030
& ta i l L
bil ea
Bh
iti lt
Re
es
Rising affluent population & Sustainability, CSR & ESG

h
Ultra wealthy population to grow 58% by Share of green-energy generation
2027 Axis Cap., Axis Sec., n expected to double to 44% by 2032
Axis io
AMC & Axis Pens
AFL – Axis Finance Limited

AA – Account aggregator
ABF – Axis Bank Foundation Financialisation of savings
AMC – Asset Management Company
Source: RBI, Knight Frank, Government of India, Morgan Stanley, Central Formalization of jobs and drop in birth rate to boost savings Quarterly
Axis Bank Results
Document Q4FY24 | Confidential
Classification 16
Electricity Authority estimates
C
open by Axis Bank continues to deliver strong growth, as we remain
ahead of the curve on new innovations
133
100 1st
To go live on Account
Aggregator framework
Deposits
FY23 FY24
1st
174
Bank to launch
(1)
CBDC merchant app
100
Loans
1st
FY23 FY24
Bank to go live on
RBI Tech platform(2)
offering
Credit for MSME loans
‘open’ is now ~ 6% of the Bank’s overall business and we intend to increase

contribution by 3-4x by fiscal 2027
(1) Central Bank Digital Currency (2) Micro Small and Medium Entreprises Quarterly Results Q4FY24 17
Public
C Sparsh, our Customer Obsession program, is committed to delivering
Smart Banking by improving institutional capabilities across the Bank
Sparsh embedded across all customer touchpoints, Sparsh is committed to deliver Smart Banking: Industry-first LIVE
processes & metrics Initiatives
Getting more customers as promoters Adi – Deep Intelligence by Axis Bank: A Generative AI conversational
NPS (Net Promotor Score) movement over indexed baseline chatbot for frontline employees.
1st Gen AI use case by Axis Bank.
Baseline1 Mar ’24 Movement • Now LIVE for all Branch employees
• Enable to answer queries on core products.
Retail Bank 100 145 +45
Delivering Axis Promise to customers:

Unified request tracking page enabled on Open App and Axis Net Banking to transparently
Kantar Survey: The Outside-in Perspective: Rank 4 communicate turnaround time and status
(FY21) to Rank 2 (FY23) • Tracking of Burgundy 6-hour promise.*
• Now covers requests for all products across account, assets and credit card raised from any
channel
nd • Experienced by > 3.2 lacs customer per month & growing
3rd 2 140
131 135 133 131
125 123 121 123
4th 117
100 104 Personalized Pre intimation Low Balance Nudge and Fund :
Functionality enabled for easy access customers to proactively track average balance to avoid
charges
• Allows instant funding via UPI
Axis Bank Peer 1 Peer 2 Peer 3
FY21 FY22 FY23

* Enabled for top 10 account maintenance requests for Quarterly Results Q4FY24
Burgundy customers 18
1.Baseline as Q1 of FY 23
C
Inherent strengths in Bharat Banking, gives us the right to win in RuSu
markets
2,480+ 64,550+ 80+

Large and deep distribution Bharat Banking branches Common Service Centre Village Partners
as of Mar 2024 level entrepreneurs
Delivered strong growth at 30% 30% 12%

current scale YOY growth in Rural YOY growth in asset YOY growth in deposits
advances disbursements (1) from BB branches
(2)
Quality business model High RAROC product Self sufficient in overall Strong risk, collections &
established segments PSL at Bank level Underwriting capabilities
(1) Include retail assets (Ex IBPC) sourced by Bharat Banking (2) Risk adjusted return on capital Quarterly Results Q4FY24 19
C
We have a distinctive people proposition
Building an Internal Talent Marketplace

5X the internal mobility
20% of movements saw promotions
thrive Significant impact on advocacy and attrition
Strengthening the talent pipeline

AbLE ABYB ASA
ARISE ASPIRE Axcept

+ more campus and skill factories
Increased intake 3.5x to build our own Bankers 400+ selected in internal talent programs
Invested in
DE&I Future of work
Learning
54,61,294+ learning #COMEASYOUARE GIG-A 76%
Positive Business 2%
hours in FY24 Outlook
VIBE industry forums GIG – A -Anywhere

3X increase in FY24 86% CEO approval 2%
GIG – A - Freelancer
through microlearning Axis Women in Motion
Recommended
70% to a friend 2%

C
ESG focus continues to have Bank-wide sponsorship
Our Purpose Statement: Banking that leads to a more inclusive and equitable economy, thriving community and a healthier planet
Steady Performance on Global

ESG Benchmarks
Above 80th percentile
among global banks
on DJSI in 2023
Environmental Social Governance
7th Consecutive year
~ ₹30,000 Cr 1.7 Mn 1st on FTSE4Good Index
Achieved Under Wholesale Banking Households reached Indian Bank to constitute an in 2023
to sectors with positive social and under Sustainable Livelihoods ESG Committee of the Board
environmental outcomes
600 ~2.2 Mn 67% MSCI ESG Ratings

at A in 2023
Branches under centralized Women borrowers under Proportion of Independent,
energy management Retail Microfinance Non-Executive directors
CDP Score at C in
25% 17% 2022
2 MW Female representation
Proportion of women
In-house solar power capacity directors on the Board 5th amongst 601
in workforce
companies on CRISIL
ESG Ratings 2022
Rated 23.5 – Medium
Risk on Sustainalytics
2023 (Dec)
Among the top 10 Among top 10 Among Top 10 Among Top 10
Constituents of Nifty100 constituents of S&P Constituents of MSCI India Constituents of S&P BSE
ESG Sector Leaders Index BSE 100 ESG Index ESG Leaders Index CARBONEX Index Quarterly Results Q4FY24
21
Executive Summary
Financial Highlights
Capital and Liquidity Position
Business Segment Performance
Asset Quality
Sustainability
Subsidiaries’ Performance
Other Important Information

22
Major highlights
FY24 PAT at `24,861 crores up 160% YOY, FY24 NIM at 4.07% up 6 bps YOY; Consolidated ROA at 1.84%, up 99 bps
YOY; Consolidated ROE at 19.29% up 1,003 bps YOY ; aided by balanced deposit and loan growth of 13% and 14%,
respectively
• Net Interest Income grew 11% YOY and 4% QOQ, Net Interest Margin at 4.06% up 5 bps QOQ
Steady operating performance in Q4FY24
• Fee income grew 23% YOY and 9% QOQ, granular fee constituted 93% of overall fees, Retail fee grew 33% YOY and 12% QOQ
• Operating revenue up 20% YOY and 10% QOQ, Operating profit grew 15% YOY and QOQ, Q4FY24 Net profit at `7,130 crores, up 17% QOQ
• Consolidated ROA | ROE on annualized basis at 2.07% | 20.87%, up 23 bps | 226 bps QOQ, with subsidiaries contributing 7 bps | 52 bps, respectively
• On MEB basis, total deposits up 13% YOY & 6% QOQ; On QAB basis, total deposits grew 16% YOY & 5% QOQ
Retail term deposits gaining traction, • On MEB basis, retail term deposits (RTD) grew 17% YOY & 5% QOQ, SA 4% QOQ, CA 18% QOQ, CASA grew 8% QOQ
CASA ratio among the best in the industry • On QAB basis, RTD grew 16% YOY & 3% QOQ, SA grew by 10% YOY, CA grew 4% YOY & 7% QOQ
• CASA ratio MEB basis stood at ~43%, among the best in the industry
• Avg. LCR Outflow rates improved by ~500 bps in last 2 years
• Advances grew 14% YOY and 4% QOQ; Advances (gross of loans sold under IBPC) grew by 15% YOY and 4% QOQ
Healthy loan growth delivered across all • Retail loans grew 20% YOY and 7% QOQ of which Rural loans grew 30% YOY and 15% QOQ, SBB1 book grew 33% YOY and 7% QOQ
business segments • Corporate loans (gross of IBPC sold) up 7% YOY, Mid-Corporate (MC) up 22% YOY & 3% QOQ, SME loans up 17% YOY & 5% QOQ
• SBB+SME+MC mix at ₹2,083 bn | 22% of total loans, up ~628 bps in last 3 years
• Self sustaining capital structure with net organic* accretion to CET-1 of 44 bps in FY24
Well capitalized with self-sustaining capital • Overall capital adequacy ratio (CAR) stood at 16.63% with CET 1 ratio of 13.74%
structure; adequate liquidity buffers • `5,012 crores of COVID provisions reclassified to other provisions, not considered for CAR calculation, provides cushion of 41 bps over the reported CAR
• Excess SLR of `85,056 crores. Avg. LCR during Q4FY24 was ~120%,
• Largest player in Merchant Acquiring business in India with terminal market share of ~20%, incremental share of ~28% in last one year 2
Continue to maintain strong position in • 1.24 million credit cards acquired in Q4FY24, CIF market share of 14% 2
Payments and Digital Banking • Axis Mobile app is the world’s highest 3 rated mobile banking app on Google Play with ratings of 4.8 and ~14 million MAU
• 410+ APIs hosted on Bank’s API Developer Portal with 285+ Retail APIs
• GNPA at 1.43% declined by 59 bps YOY and 15 bps QOQ, NNPA at 0.31% declined 8 bps YOY and 5 bps QOQ
Declining slippages, gross NPA and • PCR healthy at 79%, Coverage 4 ratio at 159%,
credit cost • Gross slippage ratio (annualized) at 1.48% declined 28 bps YOY and 14 bps QOQ, Net slippage ratio (annualized) at 0.57%
• Q4FY24 annualized net credit cost at 0.32%, FY24 net credit cost 0.37% declined 3 bps YOY
• Total FY24 PAT of domestic subsidiaries at ₹1,591 crs, up 22% YOY; Return on investments of 54% in domestic subsidiaries
Key subsidiaries continue to deliver steady • Axis Finance FY24 PAT up 28% YOY, ROE at 16.8%, total CAR healthy at 19.2%, asset quality metrics improve with GNPA declining 14 bps YOY to 0.46%
performance • Axis AMC’s FY24 PAT at ₹414 crores, Axis Securities FY24 PAT up 48% YOY
• Axis Capital FY24 PAT stood at ₹150 crores and executed 90 investment banking deals in FY24
IBPC: Inter Bank Participation Certificates; QAB: Quarterly Average Balance; MAU: Monthly Active Users engaging in financial & non-financial transactions; 1 SBB : Small Business Banking;
2 Based on RBI data as of Mar’24; 3 across 64 global banks, 82 fintechs and 9 neo banks with 2.6 mn+ reviews; 4 Coverage Ratio = Aggregate provisions (specific + standard + additional + Covid) / IRAC GNPA;
* Net organic accretion = capital accreted – capital consumed (excluding consumption for regulatory changes in risk weights) 23
Key metrics for Q4FY24
Snapshot (As on 31st March 2024)
Deposits Advances
Absolute (₹ Cr) QOQ YOY Growth (a) (c)
13% YOY 14% YOY
(b)
Q4FY24 Q3FY24 FY24 Q4FY24 Q4FY24 FY24 16% YOY 15% YOY (d)
Net Interest Income 13,089 12,532 49,894 4% 11% 16%

Fee Income 5,637 5,169 20,257 9% 23% 28%
Profit &
29%
Loss
Operating Expenses 9,319 8,946 35,213 4% 27% 30% 43%

Operating Profit 10,536 9,141 37,123 15% 15% 16% 60%
57% 11%
Core Operating Profit 9,515 8,850 35,393 8% 5% 10%
Profit after Tax 7,130 6,071 24,861 17% - 160%
Q4FY24 YOY Growth

CASA
(a) Retail SME Corporate
Balance
Total Assets 14,77,209 12% 3% YOY

Sheet
(c)
(b) 3% YOY
Net Advances 9,65,068 14% 8% YOY 20% YOY 17% YOY (d)
7% YOY
Total Deposits 10,68,641 13%
Shareholders’ Funds 1,50,235 20%
Operating Profit (in ₹ Crores) Profit After Tax (in ₹ Crores)
(e)
Q4FY24 / FY24 Q4FY23 / FY23
16% YOY 160% YOY
Diluted EPS (Annualised in `) 92.34 / 80.10 (75.53) / 31.02
Book Value per share (in `) 487 406
Key Ratios
Standalone ROA (Annualised) 2.00% / 1.83% (1.83%) / 0.80%

Standalone ROE (Annualised) 20.35% / 18.86% (19.20%) / 8.47%
Cons ROA (Annualised) 2.07% / 1.84% (1.68%) / 0.85% 37,123 24,861
32,048
Cons ROE (Annualised) 20.87% / 19.29% (17.37%) / 9.26%
9,580
Gross NPA Ratio 1.43% 2.02%
(e)
Net NPA Ratio 0.31% 0.39% FY23 FY24 FY23 FY24
Basel III Tier I CAR 14.20% 14.57%
Basel III Total CAR 16.63% 17.64%

24
(a) Month end balances (b) Quarterly average balance (c) Overall (d) Overall (gross of IBPC sold) (e) including exceptional Items on account of acquisition of Citibank India Consumer Business (‘CICB’).
Executive Summary
Asset Quality
Sustainability

25
Deposit and Loan growth performance
All figures in ₹ Billion
Deposit mix (QAB)^ QAB MEB Segment loan mix

YOY QOQ QOQ Loan growth (gross of IBPC sold) at 15% YOY & 4% QOQ
YOY QOQ
9,924 16% 5% 6%
9,468
9,002 9,111
8,524 9,651 14% 4%
2,437 9,323
2,150 34% 13% 5% 8,973
1,913 1,919 (24%) 8,453 8,585 3% 3%
NRTD 1,816 (a)
2,771
2,853 7% 1%
Corporate
2,817 (29%)
2,683 2,730
3,246 3,331 3,444 16% 3% 5% 1,047
RTD 3,110 1,000 (11%) 17% 5%
2,967 (35%) 960
SME
894 877
1,180 1,115 1,158 1,244 4% 18%

1,200 (13%)
7%
CA
4,978 5,470 5,833 20% 7%
Retail 4,876 5,197 (60%)
SA 2,541 2,799 2,831 2,828 2,799 10% 1% 4%

(28%)
Q4FY23 Q1FY24 Q2FY24 Q3FY24 Q4FY24 Mar-23 Jun-23 Sep-23 Dec-23 Mar-24
Axis Title
4.31% 4.62% 4.79% 4.94% 5.06%
96% 97% 97% 97% 97%
Cost of Deposits
Share of Domestic Loans in overall loan book
Domestic Loan book grew by 15% YOY & 4% QOQ
(a) Corporate loan book growth (gross of IBPC sold)
^ Quarterly Average Balance

26
Operating revenue up 20% YOY and 10% QOQ, PAT up 17% QOQ
All figures in ₹ Crores
Operating revenue Operating expense
YOY QOQ 28% 34% 32% 27%

14%
19,855 20% 10%
Opex YOY (b)
17,349 18,087 (b) 9,319
16,530 17,046 growth (b) 8,717 (b) 8,946
(a) 8,232
6,766 41% 22% 7,362
5,087 5,034 5,555
4,788
6,107 6,234 6,396
5,544
5,198
11,742 11,959 12,315 12,532 13,089
11% 4% 2,164 2,688 2,610 2,711 2,924
Q4FY23 Q1FY24 Q2FY24 Q3FY24 Q4FY24

Q4FY23 Q1FY24 Q2FY24 Q3FY24 Q4FY24 Staff cost Non-staff cost
Net Interest Income Non-Interest Income
(a) Including one month integration expenses plus Citi business operating expenses
(b) Including three month’s integration expenses plus Citi business operating expenses
Operating profit & Core Operating profit Profit after tax
YOY QOQ 17% QOQ

7,130
OP 15% 15%
4,118
2,677 (c)
10,536 -5,728
9,168 9,084 9,515 Core 5% 8%
OP
6,466 6,235
5,126 4,933 5,737 5,720
Q4FY20 Q4FY21 Q4FY22 Q4FY23 Q4FY24 Q4FY21 Q4FY22 Q4FY23 Q4FY24

Operating Profit (OP) Core Operating Profit

27
(c) including exceptional Items on account of acquisition of Citibank India Consumer Business (‘CICB’).
Net interest margin improved 5 bps QOQ
Advances mix by rate type Cost of Funds
MCLR Duration Split
30% (Mar-24)
2% 1% ~ 70% of loans floating 5.35% 5.43%

4% 1M, 5.17%
5.03%
1% 4.75%
13%
3M, 2% 4.34%
12M, 7% 4.09%
3.77% 3.83% 3.89%
50% 6M, 3%
Repo linked MCLR linked Other EBLR* Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Q4FY23 Q1FY24 Q2FY24 Q3FY24 Q4FY24
Base Rate linked Foreign currency- floating Fixed

Cost of funds
*External benchmark linked rate
Net interest Margin (NIM) NIM Movement - Q3 FY24 to Q4 FY24

NIM - Overall NIM - Domestic Unfavourable Favourable
4.35%
4.20% 4.20% 4.16%
4.08%
0.05% 4.06%
4.01%
4.22%
4.10% 4.11% 4.01% 4.06%
Q4FY23 Q1FY24 Q2FY24 Q3FY24 Q4FY24 NIM Q3 FY24 Spread & interest reversal NIM Q4 FY24
65% 67% 67% 71% 70%
RWA to total assets Quarterly Results Q4FY24

28
Structural NIM drivers continue to show improvement
1 3 Improvement in composition reflected

Improvement in balance sheet mix 2 Reducing share of low yielding RIDF bonds
through improvement in average CASA%
Retail & SME as % of loan book
71% As a % to total assets

67% 68%
62% 64%
5.1% 4.7%
3.5%
2.3% 42.9% 43.6% 42.5%
40.9%
1.5% 39.7%
46,463 46,886
41,654
Mar-20 Mar-21 Mar-22 Mar-23 Mar-24 30,564
21,557
79% 85% 84% 86% 88%
Loans and investments as % of total assets
Non INR book as % of overall loan book

Mar-20 Mar-21 Mar-22 Mar-23 Mar-24 FY20 FY21 FY22 FY23 FY24
10.2%
9.1%
8.5%
5.1%
3.8%
Mar-20 Mar-21 Mar-22 Mar-23 Mar-24

29
Strong growth in fees; granularity built across our business segments
Retail Banking fees 33% YOY Retail fee mix

12% QOQ
45% 42%
40%
4,159 23% 21% 27% ^ 19% 19% 17% 18%

3,698 15% 14%
3,494
3,119 3,146
TPP Retail Cards & Payments Retail Assets excl cards & Retail Liabilities & others
payments
Q4FY23 Q3FY24 Q4FY24
Q4FY23 Q1FY24 Q2FY24 Q3FY24 Q4FY24 • 39% YOY & 4% QOQ growth in Retail Cards & payments fees;
68% 70% 70% 72% 74% * • 20% YOY growth in Retail Assets fees (excl cards & payments)
• 59% YOY & 44% QOQ growth in Third Party products (TPP) related fees
Corporate & Commercial Banking fee Corporate & Commercial Banking fee mix
2% YOY
Trade, Forex and Financial Institutional payments related fee form part of Transaction Banking
1,468 1,471 1,478
1,449
74% 77% 73%
1,342
21% 20% 22%
5% 3% 5%
Transaction Banking Credit Treasury

Q4FY23 Q3FY24 Q4FY24
• 2% YOY growth in traditional Transactional Banking fees excluding forex & trade
32% 30% 30% 28% 26% *
• 3% YOY & 9% QOQ growth in credit related fees
* Figures in % represent share of segment contribution to total fees Quarterly Results Q4FY24
30
Cost growth at 27% YoY; integration expenses contribute 3% to YoY growth; continue to
invest in technology and growth related businesses
YoY Incremental Opex in Q4FY24 was led by Growth Business (2%) 51% 40% 11%
and Integration related expenses
225
782
Incremental YOY cost break up
(Rs 1,957 Crore) (YoY ↑ 27%) 995
(1) (45)
(YoY ↑ 22%)
Integration
Includes
Led by Investments in IT expenses for 2
impact of
lower Infra and digital months
Integration increments
Expenses, Wholesale journeys; Manpower rolled out in 9,319
11% costs additions for future Q1
7,362
growth business;
Expansion of cards
business and
Technology & branches
Business as
Usual, 40% future growth
related , 51%
Q4FY23 opex Volume linked Technology & BAU Integration Q4FY24 opex
growth related Expenses
Volume
linked, -2%
Cost to Assets
2.41% 2.49%
2.55% • Technology expenses are ~9.3% of Total Opex for Q4FY24
2.25% 2.24% 2.25% 2.32%
2.17% 2.13% 2.17% 2.24%
2.09%
1.96%
FY18 FY19 FY20 FY21 FY22 Q1FY23 Q2FY23 Q3FY23 Q4FY23 Q1FY24 Q2FY24 Q3FY24 Q4FY24
(1) Quarterly Results Q4FY24

Adjusted for Integration expenses in Q4FY23 for 1 month and Q4FY24 for 3 months 31
Executive Summary
Asset Quality
Sustainability

32
Strong capital position with adequate liquidity
2.36% 1.92%
(1)
Bank’s Capital Adequacy Ratio
0.72%
14.02% 13.74%
19.12%
18.54%
Organic net accretion 17.64%
17.53% 16.63%
to CET-1 of 44 bps in 15.84% 3.72% 3.30%
3.62%
FY24 4.19% 2.89%
15.40% 15.24%
4.57%
14.02% 13.74%
13.34%
11.27%
CET-1 Mar'23 Accretion Consumption Impact of CET-1 Mar'24

Regulatory
Change
Mar 19 Mar-20 Mar-21 Mar-22 Mar-23 Mar-24
(1) Reported CET -1 ratio at March 31, 2024 fully incorporates the impact of the Rs. 1,612 cr CET 1 CAR (AT1 + Tier 2) CAR
investment in Max Life made after March 31, 2024
Liquidity Coverage Ratio (consolidated) RWA to Total Assets

~ 362 bps impact of regulatory
129% change in risk weights
121% 123%
118% 118% 120%
114% 116% 117% 116%
70%
67%
64% 65%
61%
Bank's LCR (consolidated) Regulatory minimum LCR
Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Q4FY23 Q1FY24 Q2FY24 Q3FY24 Q4FY24 Mar-20 Mar-21 Mar-22 Mar-23 Mar-24
• The Bank holds excess SLR of `85,056 crores Quarterly Results Q4FY24
33
Executive Summary
Asset Quality
Sustainability

34
Retail Banking
~45 Mn 4th `5.37 T n

Individual Largest issuer of AUM in wealth
customers Credit Cards management
20% 30% 60%

YOY growth in YOY growth in Share of
Retail advances Rural advances Advances~
10% 43% 74%

YOY Growth in SA CASA ratio Share in
QAB* deposits (MEB**) total fee^
~ share in Bank’s total advances, ^ share in Bank’s total fee for Q4FY24
*QAB – Quarterly Average Balance, **MEB: Month End Balance
Deposit franchise continues to grow faster than the industry with improvement
in quality and composition…
We have grown faster than industry consistently in

the medium to long term… …with improvement in the quality of deposits… …while delivering healthy CASA levels
and reducing borrowings
~500 bps reduction in outflow rates in CASA ratio* (in %)

last 2 years
15% 15%
13% 13%
28.9% 43% 43%
42%
11% 11%
23.9%
Mar'19 Mar'21 Mar'24
Borrowing (excl refinance) as

Last 1 yr Last 3 yrs CAGR Last 5 yrs CAGR Mar'22 Mar'24 % of (Deposits + Borrowings)
Industry Axis
12.0%
8.1%
6.5%
Gained incremental market share of 6.4% in last 3 years as
Outflow rates are now among the best in the industry
against closing market share of 5.0% as of Mar’24
* On MEB
Source: RBI, Axis Bank reported data
36
…led by multiple initiatives across the Bank
Focus on Productivity & Exclusively curated Digital, transformation

Premiumization Bharat Banking Partnerships
Micro market strategy product propositions
31% CAGR in Burgundy 21% YOY growth in new 64K+ extensive distribution Project NEO aiding higher
52% increase in no. of districts network of Common Service contribution from transaction-
wealth management AUM salary labels in Q4FY24
with total deposits market share Centers (CSC) VLEs 2
since Mar’17 oriented flow businesses
of over 5% in last 5 years 1
67% of customer requests Project Triumph and SUVIDHA Salary remains New SA proposition 85% YOY growth in
serviced digitally as part of “Right fit” strategy to amongst the best offerings “Sampann” launched for individual RTD by value
Branch of the Future accelerate Premiumization available in the market today RUSU locations sourced digitally for Q4FY24
Calibrated branch expansion ‘Burgundy Promise’ & New ‘Family Banking Enabled CASA opening at a Siddhi empowering Axis
‘Burgundy Circle of Program’ and benefits including third-party network on the eKYC bank colleagues to engage
strategy; added 475 new
Trust ‘ launched industry platform, building a TD with customers seamlessly
branches in the FY24 period super premium Magnus Card
first servicing proposition proposition on the eKYC platform
for Burgundy customers
1.40 mn 12% 1.58 mn

new SA accounts acquired in Q4FY24 growth in deposits from Bharat banking Retail Term Deposits acquired in Q4FY24

1 RBI market share district wise (including RRBs) for Mar’23 2 Village Level Entrepreneurs
37
Retail Term deposit growth continues to gain traction
All figures in ` Crores
17% 17%
15% 14% 15%
11% 12%
YOY Growth 8%
6%
4%
1% 0%
-1%
3,55,623
3,39,262
3,32,025
3,18,484
3,03,706
2,90,519
2,90,423
2,89,910
2,88,076
2,86,612
2,85,482
2,82,925
2,75,607
Mar-21 Jun-21 Sep-21 Dec-21 Mar-22 Jun-22 Sep-22 Dec-22 Mar-23 Jun-23 Sep-23 Dec-23 Mar-24

38
The Bank is a leading player in India’s Wealth Management space
Overall Burgundy AUM^ has grown strongly 31% CAGR*

50% YOY
5.37
Burgundy Private
3.57 adjudged as “Best Private
Bank” for
2.61 Client Acquisition,
2.13 Asia
1.23 1.33 1.47
0.79
5th Annual Wealth Tech Awards

Mar-17 Mar-18 Mar-19 Mar-20 Mar-21 Mar-22 Mar-23 Mar-24
* CAGR for period Mar-17 to Mar-24

All figures In ₹ Tn
Burgundy Private AUM^ ₹1.83 Tn 33% YOY
Burgundy Private Client Base^ 10,651
Burgundy Private 3-in-1 Cards^ 9,582

39
^ includes Burgundy Private AUM as well along with acquired wealth management portfolio of Citibank India Consumer business
`5.8 trillion Retail loan book remains well diversified
Retail book ~ 72% of our retail book is secured (1)

(in ₹ Billion)
in Rs Crores Mar-24 QOQ YOY % Prop Retail disbursement trends and mix
Home Loans 1,65,899 2% 5% 28% 25% 25% 25%
24%
22% 27% Rural loans 91,866 15% 30% 16% 20%
21% 23%
YOY Unsecured disbursements
20% Personal loans 71,592 10% 31% 12%
as % of retail disbursements
QOQ 7%
14% * Auto loans 58,747 2% 12% 10%
2% 4% 5%
LAP 63,673 9% 25% 11% 100 103

5,833 97
5,470 86
4,978 5,197 SBB 57,219 7% 33% 10%
4,876 70
Credit Cards 41,324 3% 30% 7%
Comm Equipment 12,170 3% 11% 2%

2
Others 20,775 18% 29% 4%
Total Retail 5,83,265 7% 20% 100%

Mar-23 Jun-23 Sep-23 Dec-23 Mar-24 Q4FY23 Q1FY24 Q2FY24 Q3FY24 Q4FY24
Indexed to 100
(1) Basis Bank’s classification of secured; in the current quarter the Bank has treated top up loans on movable assets as unsecured
(2) Others comprise of supply chain finance loans, education loans, gold loans etc.
ETB^ mix in retail portfolio
100% of PL and 78% of Credit Cards portfolio is to salaried segment

78% 76%
**
58% 54% 49%
40%
Average LTVs:
60% in overall home loan portfolio
40% in LAP portfolio
Personal Loan LAP HL Auto loan Credit Card SBB

40
^ Existing to Bank *Aided by Citi Bank India consumer business portfolio ** 30% of CC acquired in FY24 were through Known to Bank (KTB) channel
We continue to focus on growing Personal loan book within the defined
guard rails
7.4%
7.1%
6.4% 6.4% 6.5%
100%
of Personal loans given to
Salaried segment
71,592
45,242
54,561 5.2%
39,744 39,370
16% CAGR# Axis Bank’s closing market share in
Personal loans as of Mar’24
Mar'20 Mar'21 Mar'22 Mar'23 Mar'24
4.7%
% of overall loan book Axis Bank’s Incremental market share
in last 4 years in Personal loans
Axis Bank’s Personal loan portfolio has grown at CAGR of 16% vs industry
growth of 19%

* 4 year CAGR Source: RBI’s gross sectoral data for other personal loans 41
Small Business Banking segment is well diversified and continues
to grow strongly…
SBB Portfolio (in `Cr.) Well diversified customer base

• `57,219 crores overall book with Business Loan book of
33% YOY
7% QoQ `14,724 crores
• ~73% value contribution from Secured products (working

57,219 capital, overdraft, term loans, etc.)
18% 15%
14,724 • 125 lakh+ average ticket size of working capital
42,982 secured loans 2%
3% 11%
10,316 3%
28,617 • 90%+ of SBB working capital portfolio is PSL compliant 3%
4% 8%
17,859
6,576 • EWS portfolio monitoring indicates risks well under 4%
42,495 8%
13,768 control 6%
4,984 32,666 7% 8%
4,951 22,041 • 86% Branch contribution to total business Retail trade Wholesale trade
12,875
8,817 Textile Iron & Steel
Healthcare Infra & allied
FY20 FY21 FY22 FY23 FY24 Food processing Lifestyle products
Electronics Plastics
Working Capital Business Loans 24x7 Business loans : Chemicals Power & Electricity
End to End digital lending contributes 60%+ Paper & paper products Other
to overall unsecured BL disbursements

42
…led by our innovative product offerings and transformation
initiatives
SBB Equipment Finance
➢ Loans up to 10Cr for Industrial &

Health Care Equipment
Industrial
Machine Tools
Plastic Injection
Packaging
Printing
Healthcare
Diagnostic
Therapeutic
Imaging
Pathology
Life support
One Axis approach

• Platinum & Bharat Bank franchise driving branch growth ‘SBB Sankalp’ project to further improve efficiencies and deliver superior TATs
by re-imagining and digitizing underwriting systems and loan disbursals
• Synergies with Merchant Acquiring
• Leveraging AVC Channel for better lead conversion
43
‘Bharat Banking’ strategy delivering early results
▪ Drive higher business growth and increase market share in Rural and Semi Urban (RuSu) markets through asset led liability strategy
▪ Lending opportunities in RuSu markets to complement the Bank’s overall PSL strategy meaningfully
Focus on building a distinctive model for Bharat Significant increase in coverage in RuSu markets
One CSC VLEs

Axis
One Axis solutioning approach 64,550+
61,635 64,596 CSC VLEs network
40,077
Distinctive Bharat specific capability stack
2,480+
Bharat Banking branches
as of Mar’24
Embed banking in the digital ecosystem of the clients
Enhancing Brand in the RuSu markets … has delivered strong growth across key metrics
Use of alternate ecosystems to leverage data & UW 30% 30% 12%

customers better YOY growth in YOY growth in YOY growth
Rural advances disbursements ^ in deposits
^ Include retail assets (Ex IBPC) sourced by Bharat Banking

44
Rural portfolio is well diversified, offering holistic and integrated
financial solutions by leveraging technology and partnerships
Well diversified rural lending portfolio with … focused on capitalizing opportunities in each
… and leveraging technology and partnerships
presence across 683 districts across India segment…
Farmer Funding
Rural loans portfolio & composition • Enhancing crop coverage, adding partnerships & improving • Launched a new savings product “Sampann” for the mass affluent
#
(in `Cr.) 25% CAGR customer retention segment in RuSu markets that is gaining traction
30% YOY • Expanding distribution around agri clusters such as Mandis &
targeting niche value chains- pisciculture, horticulture etc. • Digital end to end co-lending journey is scaling up well and live with
11+ partners
Bharat Enterprises
• Widened the product suite to cover multiple financing needs in • Live with eKYC based CASATD opening at a partner location
the agri value chain such as FPO, AIF etc. and added a new
91,866 line of business for lower ticket micro enterprises • Launched a Mandi Mitra model to enhance distribution & increase
70,918 • Boosting fee income through trade & forex and mobilizing wallet share from the Mandi network
56,332
43,698 deposits from enterprise clients
37,451
• Launched an initiative to mobilise deposits from the value chain of
Farm Mechanization Loans the SME clients located in RuSu markets
FY20 FY21 FY22 FY23 FY24 • Enhanced proposition for existing customers through
standalone farm equipment, and used tractors • Targeting deeper credit & deposit penetration in three ecosystem in
• A revamped customer journey gone live in Q4 RuSu markets through partnerships- trader, large farmers, and small
farmers
Gold loans
4% • Enhancing distribution by increasing branch coverage and
7% • Redesigning end to end customer journeys to reduce TAT and
7% scaling up volumes from partnerships improve customer experience in all high growth products
41% • Live with the digital customer journey
10%
• Multi product distribution architecture scaling up well, driving
Microfinance - Retail cross-sell across asset & liabilities to increase product coverage
• Accelerating growth through new propositions for graduating
31% JLG customers, and cross-sell retail products • Better data farming for underwriting and cross sell opportunities esp.
using alternate data
One Axis Platform
Farmer Finance Bharat Enterprises • Deepen the partnership with various parts of the bank to build • Launching more sales enablement tools to enable sales team to self
Gold MFI-Retail Bharat specific propositions for liabilities, assets and other fee- source multiple products
MFI-Wholesale & Co-lending Farm Equipment based products
The book is well diversified across regions

#Mar-20-
45
to Mar-24
Strong growth in Credit Card issuances
Increase in Cards in force (CIF) market share with increasing card issuances aided by KTB^ partnerships
Axis Bank Magnus Credit Card
~1mn+ cards issued for 9th consecutive quarter
In million
1.21 1.26 1.24

1.11 1.13 1.11
0.99 1.04 1.04
Pre-covid
quarterly
average =
Airtel Axis Bank Credit Card 0.49 mn
Q4FY22 Q1FY23 Q2FY23 Q3FY23 Q4FY23 Q1FY24 Q2FY24 Q3FY24 Q4FY24
Indian Oil Axis Bank Credit Card 30% 14.0% 11.8%

period end market share spends market share
share of KTB^ sourcing to total
for credit cards in force as in Q4FY24
card issuances in FY24
of Mar’24
^ Known to Bank

46
End to End Digital KTB acquisition journey with best in class early activation
and spend metrics for Flipkart Axis Bank Credit Card
Customer clicks on Customer fills up the

Flipkart Axis Bank form and submits the
Credit card banner application
and can view details
4.13 mn $
CIF for Flipkart Axis Bank Credit Card,
making it one of the fastest growing co-brand partnership
since its launch in July 2019
70% monthly activity rate* - Best in class engagement

in Retail segment
Approved customers complete KYC $ CIF as of 31st Mar’2024
and income verification via digital or *Based on the average data for Apr’23 to Feb’24 for cards acquired via Flipkart Platform
physical channels
47
Retail spends up 51% YOY, and related market share up ~158 bps YOY
All figures In ₹ Cr
Trend in Credit Card spends market share Trend in Debit Card spends
Overall Q4FY24 CC spends

` 58,587 Crores
YOY
12.3% 50%
11.5% 11.8% 11.8%* 11,457 11,415
11,110
1.2% 43% 10,707
10.1% 1.3% 1.1% *
1.2% 10,253
1.0%
51%
11.1%
10.3% 10.5% 10.7% *
9.1%
Q4FY23 Q1FY24 Q2FY24 Q3FY24 Q4FY24 Q4FY23 Q1FY24 Q2FY24 Q3FY24 Q4FY24
Retail CC spends Commercial CC spends

*Market share based on RBI reported data for Q4FY24 48
We are the largest Merchant Acquiring Bank led by ‘One Axis’ focus,
improved product capabilities and partnerships
One Axis approach – Taking Bank to Merchant
Market share in POS terminals

Curated solution offerings : Payment solutions, Deposits, Business loans,
Gold Loans and other customer fit lending solutions and Insurance
Rank 2nd 2nd 2nd 1st 1st Co-origination & conversion drives reflecting in healthy CASA balance growth
Asset Lite approach to products
19.8%
18.9% NFC Soundbox: Industry first- Multi-lingual Soundbox with Tap +PIN payment
18.6% 18.4% 18.6%
acceptance. Accepts both QR and Card payments
Powerful terminals: Industry first: Android Smart POS, Pocket Android
POS, Micro Pay – 70% of new installations
All in One offering: Features like Tap & PIN, Bharat QR, Digital Khata with
VAS offerings like Card less EMI, Pay Later
Neo for Merchants: A mobile app to address all merchant needs by providing
multiple options for payment acceptance, servicing etc, launched in CUG
Soundbox: For BQR with 10 languages
Digital Onboarding: Real time checks and video verification reducing
installation TAT to same day and incremental NPS over physical journey for
POS. Launched digital onboarding for PG
Market partnerships
Mar'23 Jun'23 Sep'23 Dec'23 Mar'24

Marquee partnerships: Extension of digital payments ecosystem to fintech
aggregators
Unique sector specific VAS: supported by deep integrations with merchant
value chain players to provide holistic business oriented solutions
Source: RBI data, available till Mar’24
Digital Dukaan & ERP Solution Partners: An Ecosystem Solution to digitize
the store, Integrated with payments at an affordable price. Serving to segments
28% like Grocery, Clothing, Bakeries, Services, Pharmacy, Education etc.
Axis incremental market share in last 1 year
(POS Terminals)
49
Empowering merchants through Integrated Ecosystem solutions
Soundbox PIN on Glass POS Solution
Android POS with

Features
advanced solution Features
• Instant audio confirmation of payments done via BQR • One of the most compact and affordable POS device in the market
• Multilingual support for 10 languages • Accepts Visa, MasterCard, RuPay Cards and Bharat QR(including UPI)
• Equipped with digital display to show the txn amount • Solution accepts Chip and Contactless transactions
• Supports WiFi & 4G connectivity • Compliant with latest Card transaction security features
• Enabled with VAS – Khaata, BQR, Merchant Rewards & Sodexo
• Eco-friendly device which provides E-Chargeslip
Strong and deep-rooted alliance with multiple partners across India with over 5.1 lakh MIDs and a yearly throughput of 34k+ crores

50
We have a very well distributed branch network; added 475 branches in FY24 of
which 125 in Q4FY24
Axis Virtual Centre
Domestic branch network* Branch presence across categories
5,377
~3.9 mn
4,758
4,903 17% Customer 6
4,528 4,594 connect ^ Centers
31%
~1590
Virtual RMs
29%
23%
Mar-20 Mar-21 Mar-22 Mar-23 Mar-24 Metro Urban

Semi-Urban Rural
* Includes extension counters • Connected with ~3.9 mn customers through this channel on
an average per month in Q4FY24
• AVC manages relationship with our existing customers under

affluent and other programs
• Calibrated approach towards new branch additions across focused regions
• AVC is present across West, South, North and East with six
• Aligned to our Bharat Banking strategy, specific RuSu branches follow an asset-led liability model
centres
• Dedicated Asset Desk Managers for fulfilment of all loan leads at select branches
• Select Platinum branches to cater to SBB customer base
^ monthly average for Q4FY24

51
Corporate & Commercial Banking
6% 17% 22%
YOY growth in Domestic YOY growth in YOY growth in
corporate loans SME loan book Mid Corporate book
13% 89% 88%

YOY growth in Share of corporate Incremental sanctions
Transaction Banking Fees advances to clients to A-and above**
(for FY24) rated A-and above
18% 8% 30%
QOQ growth in CA RTGS Market Share NEFT Market Share
#
deposits on MEB basis FY24 (by value) ^ FY24 (by volume)
** in corporate segment for FY24 # Monthly End balances ^ Market share based on RBI reported data till Feb’24
Recognized at the Coalition Greenwich Awards for 3rd consecutive year
Market Penetration - Local Banks Market Penetration - Local Banks 2023 Greenwich Excellence Awards for
Indian Large Corporate Banking Indian Middle Market Banking Indian Middle Market Banking
• Effective Senior Management Support

55% 47% • Frequency of Contact
Market penetration * Market penetration *
• Timely Follow-up
*Market Penetration is the proportion of companies *Market Penetration is the proportion of companies Among more than 70 banks evaluated, Axis Bank was voted for
interviewed that consider each bank an important provider interviewed that consider each bank an important provider its distinctive quality w.r.t. 3 out of 11 metrics where the
of corporate banking services of corporate banking services respondents expressed their preference

53
as per the Coalition Greenwich 2023 India Corporate Banking Study
Strong relationship led franchise driving synergies across One Axis entities…
We have re-oriented the organisation structure in Corporate & Commercial Banking for delivering execution excellence
• Segregated the responsibilities of coverage and product groups to ensure sharper focus
• Corporate & Commercial Bank coverage reorganized into 8 coverage groups, each with a stated objective
‘One stop shop’ for Banking needs of Indian Corporates
Conglomerates & Large Transaction Banking

Corporate 1 • Cash Management
• Trade & Supply Chain
Mid Corporate • Letter of Credit/ Bank Guarantee
• Bill/ Invoice Discounting
• Current Accounts
Axis Trustee
Multi-national
2 • Correspondent Banking
• Custodial Services
Full Service Loan & Deposits
Real Economy Corporate &
• Working Capital / Term Loans
Commercial • Wholesale Deposits A.Treds
Bank
Institutional Coverage Treasury, Capital Markets & Investment Banking
3
• Debt Capital Markets (DCM)
Government Coverage • Equity Capital Markets (ECM) Axis Capital
• M&A & Advisory
• Forex & Derivative Solutions
Commercial Banking 4 Linkage to Retail Bank
Axis Finance
• Wealth Management – Burgundy / Burgundy Private
• Salary Accounts of employees Axis MF
Structured Assets
Reliable Partner Throughout the Business Life Cycle

54
…with 89% of the book rated A- and above
Corporate Loans 89% of the corporate loan book is Incremental sanctions to corporates
rated A- or better rated A- & above
YOY
3%
2,77,086 (a)
2,68,334 7%
26,793
2,32,582 32,299 17% 12% 11% 11%
2,24,062 15%
32,287 44,741
2,36,035 2,50,293 6% 88% 89% 89%

85%
94% 92%
1,91,775 1,87,841 89% 88%
Mar-21 Mar-22 Mar-23 Mar-24 Mar-21 Mar-22 Mar-23 Mar-24 FY21 FY22 FY23 FY24
A- or better BBB and below
Overseas Domestic
67% of book as on 31.03.2024 is 61% of sanctions were to those

rated AA- & above rated AA- & above
(a) Corporate loan book growth (gross of IBPC sold)

55
Overseas Corporate loan book is 98% India linked
• The Bank’s International strategy is to focus on Indian corporates that have global operations
• We have consolidated our overseas business through branches in Dubai, Singapore and Gift City (India)
Overseas corporate loan book Funding is primarily for Indian conglomerates and PSU entities
All figures In ₹ Cr
• 97% is India linked based on standard book

32,299
29,037
26,793
• 93% is rated A- and above based on standard book
• 78% of standard outstanding constituted by top 10 conglomerates

Mar-23 Dec-23 Mar-24

56
We have strengthened our proposition as a Transaction Bank
Current Account Digital Adoption

71% Current Account customers
18% QOQ growth in Current Account period
registered for internet/mobile banking
end Balances (Q4FY24)
Foreign LC Market Share TxB, Forex & Trade related fees

Increase in Market Share 10% YOY growth (FY24)
11.1% (FY23) to 11.4% (FY24)
RTGS Value Payment Market Share BBPS Market Share

Increase in Market Share Increase in Market Share
8.3% (YTD Feb’23) to 8.4% (YTD Feb’24) 18% (FY23) to 20% (FY24)
NEFT Volume Payment Market Share

Increase in Market Share IMPS Volume Market Share
11% (YTD Mar’23) to 30% (YTD Mar’24) Increase in Market Share
31.0% (Mar’23) to 38.9% (Mar’24)
Source:
Foreign LC – SWIFT Watch Forex Turnover – RBI Report
RTGS/NEFT/IMPS Payment – RBI Report BBPS – NPCI Report
TxB – Transaction Banking
57
neo by Axis Bank, our umbrella industry-leading digital initiative, is
delivering quality outcomes
Transformational Impact of Neo reflected

Thought Leadership & Client Impact
in the strong product-market fit
• Wide base of successful client implementations from large Payment

Aggregators to industrial clients powered by Industry leading depth &
breadth of Trade & Cash APIs
3.1X 2.0X
• Client implementations operating at scale with 3X integrations
API GROWTH IN compared to last year
CORPORATE LINKED
INTEGRATIONS CA CDAB
• Market leadership in segments of focus demonstrated by our ability to
onboard scaled up business like PayTM in a matter of days
• Ease of integration: Bank-led integration using Axis neo Connect OR

6.2X 4.3X end-to-end digital using Corporate Developer Portal
TRANSACTION TRANSACTION
COUNT THROUGHPUT

Mar’24 over Mar’23 58
… along with empowering businesses with Neo for Business and
Neo for Corporates
Introducing neo for corporates : Tailored

neo for Business, Axis’ MSME proposition launched in
internet banking for large enterprises & complex
Sep’23, is getting scaled up with ~ 60000 customers onboard
solutions
3.8X growth in transactions (4Q over 3Q)

23% of eligible base has been migrated to neo for
making NEO for Business a cornerstone of our
corporates
digital ecosystem
23% of transactions are bulk, highlighting the Reimagined customer journeys with a single
app's adaptability to diverse business needs unified front-end platform
20% higher login activity & 2X customers

transaction active on neo for business Mobile app go live in Apr’24
demonstrating product-market fit

59
Industry-wise Distribution (Top 10)
All figures in ` Crores
Outstanding1 as on 31st Mar’24 Total

Rank Advances Investments Non-fund based
Sectors Value (in % terms)
1. Financial Companies2 73,939 49,736 26,169 1,49,844 12.51%
2. Engineering & Electronics 18,710 3,230 38,165 60,105 5.02%
3. Infrastructure Construction3 24,654 5,061 18,054 47,769 3.99%
4. Trade 34,701 1,852 5,665 42,218 3.52%
5. Real Estate4 32,933 2,685 1,044 36,662 3.06%
6. Iron & Steel 21,031 2,191 10,445 33,667 2.81%
7. Power Generation & Distribution 12,126 3,337 17,999 33,462 2.79%
8. Petroleum & Petroleum Products 27,301 23 4,365 31,689 2.65%
9. Food Processing 18,149 78 13,202 31,429 2.62%
10. Agri 30,385 - 1 30,386 2.54%
1 Figures stated represent only standard outstanding (advances, investments and non fund based) across all segments
2 Includes Banks (35% in Q4FY24 vs 37% in Q3FY24), Non Banking Financial Companies (36% in Q4FY24 vs 40% in Q3FY24), Housing Finance Companies (8% in Q4FY24 vs 8% in Q3FY24), MFIs
(3% in Q4FY24 vs 3% in Q3FY24) and others (18% in Q4FY24 vs 12% in Q3FY24)
3 Financing of projects (roads, ports, airports, etc.)
4 Lease Rental Discounting (LRD) outstanding stood at `21,570 crores 60
Business Performance
Commercial Banking
Strong growth in SBB+SME+MC book despite tightening our risk standards
22%
20%
18%
15%
14% 28% CAGR*# 28%
CAGR# in combined MSME, MC and
46,401 37% CAGR# SBB segment since Mar’20
38,078
26,481 19% CAGR#

1,04,718
17,148 89,398
13,117
59,034
75,223 11.2%
51,620
42,982 57,219 43% CAGR# Axis Bank’s Incremental MSME
13,768 17,859 28,617
market share in last 3 years
% of overall loan book SBB CBG Mid Corporate
8.4%
Axis Bank’s market share as % of
SBB+SME+MC book has grown at ~1.4x the overall book growth, with ~ 628 bps overall Industry MSME credit
improvement in contribution mix from 15.3% to 21.6% over last 3 years
* Considering our SME+SBB+MC book as numerator

# period for CAGR Mar’20 – Mar’24

62
Commercial Banking business benefitting from technology led transformation
• One of the most profitable segments of the Bank with high PSL coverage
• Data driven credit decisions, minimal documentation, simplified products and digitized operations aiding higher business growth
CBG Advances New to Bank (NTB) book YTD

1,04,718 17% YOY
89,398 5% QOQ Indexed to 100
75,223 114
100
Mar-22 Mar-23 Mar-24 Mar-23 Mar-24
83% of loans were PSL compliant
CBG Current Account NOA*s Indexed to 100 75% of book is rated SME3 or better
188
176
14% 14% 20% 25%
100
86% 86% 80% 75%
Q4FY23 Q3FY24 Q4FY24 Mar-21 Mar-22 Mar-23 Mar-24

SME-3 or better Others

63
* Number of accounts acquired
SME lending book is well diversified
Book by Loan size Well diversified Geographical mix Well diversified Sectoral mix
16% 15% 15%

26%
18%
9%
33% 10%
18%
3% 8%
27% 3%
11% 2%
3% 6%
22% 2% 11% 4% 4%
17% 4%4%
4% 5%
Trade Retail and Wholesale Food and Beverages

Textile Engineering Others
West 1 West 2 Petrochemical and Petroleum Products CRE
Less than 5 cr 5 cr to 10 cr South 1 South 2 Other Services Other Metal and Metal Products
South 3 North 1 Chemicals Iron & Steel - Manufacturing
Drugs and Pharmaceuticals Infrastructure Construction Other
10 cr to 25 cr More than 25 cr North 2 East & others Trade Others Industrials
Others
Incremental sanctions to SME rated

SME book mix (by tenure)
SME3 & above
32% 32% 30%
83% 84% 85%

68% 68% 70%
Mar-22 Mar-23 Mar-24 FY22 FY23 FY24

Short term loan Long term loan
64
Digital Banking
96% 87% 79% 70% 74% 53%

Digital Credit cards Individual RTDs New SA New MF SIP PL disbursed
transactions1 issued2 (FY24) volume (FY24) acquisition3 volume (FY24) (end-to-end digital)
(in FY24)
D2C products
250+ 300+ 4.8 @ ~14 Mn 139k+ 3500+

Employee tool Mobile App Mobile Banking Devices on Bring Robotic automated
Services on
Journeys ratings MAU#(Mar-24) your own device~ processes
digital channels
Transformation
2,400+ 800+ 86%+ Agile 40%+ ~105

People dedicated to In-house digital New hires* from Enabled teams Lift of bank Apps on cloud
banking team* with CI/CD, micro- credit model
technology agenda non-banking
services GINI scores
background
Capabilities architecture over bureau
~11 Mn ~30%
Non Axis Bank customers using Axis Contribution of KTB channels to overall
Mobile & Axis Pay apps (as of Mar’24) sourcing of Cards (in FY24)
1Based 2 through digital and phygital mode 3 Digital tablet based account opening process for Q4FY24
on all financial transactions by individual customers in Q4FY24
@ on Google Play store ~Bring your own device enabled for staff and outsourced team * Including in-house Digital Banking team from Freecharge # Monthly active users
Our digital strategy: open by Axis Bank
Setup open by Axis Bank – A Fully Digital Bank within the Bank
- Distinctive In-house Digital Capability across People, Tech & Processes
Acquire New Customers at Scale

- 79% of retail individual TDs acquired digitally *
Become a Digital Consumer Lending Powerhouse

*
- 53% of PL disbursed digitally
Become a Benchmark Digital Bank Globally

- ‘Axis Mobile’ is top rated Mobile Banking App
Become the Leader in New Platform Businesses

- Early leadership in Account Aggregator, ONDC, CBDC, OCEN
A B C
Proprietary, distinctive Re-imagined & delightful Full suite of products
digital native capabilities customer experience and services

*FY24 66
A Proprietary, distinctive, digital native capabilities
1 Team 2 Design capabilities 3 Engineering and technology
Agile product development lifecycle
Continuous deployment
2400+ SUBZERO
People dedicated to digital agenda Axis Bank’s DESIGN SYSTEM
Modular micro-services based architecture
~350 ~400 ~55

Engineering Product Design
team Axis Bank’s ILLUSTRATION
team team
SYSTEM
Impact Metrics
86%+
One Design Language
new hires from non-banking background
Fintech | E-commerce | IT | Consulting | others
Reduced Development Effort
All new customer facing applications are cloud native
.. across roles forming full-service teams
Design effort down by 30%
Product | Engineering | Design | Partnership
Governance | Channels | Digital Marketing

67
A Leadership in technology with several industry firsts…
1st 1st 1st

Indian Bank to be ISO Indian Bank to roll-out MS Indian Bank to launch
certified for its AWS GenAI Co-pilot BBPS for B2B
and Azure Cloud
security
7000+ 75M 810

WAN Links Upgraded Daily API Hits Best-in-class
BitSight (a) rating in BFSI
(a) BitSight Security Ratings as of Mar’2024 – higher the rating, the more effective the company is in implementing good security practices Quarterly Results Q4FY24
68
A Built best-in-class personalization capability and are leveraging
alternate data to scale up our customer centric franchise
Personalization Partnership and digital public Modern data and tech

infra led lending growth infrastructure
Combination of Data Science + Lending decisions backed by Strong data and tech foundation for
Behavioral Science + Technology alternate data and curated database engineering excellence
programs
Build best in-class personalization Deliver and keep up with the growing
engine which caters to all customers with Leverage alternate data and be spoke data demands via modern tool stack and
personalized offers at a segment of 1 credit risk scorecards to assess one's "data as a product" principles
creditworthiness
17k+ 100+ Alternate Data features powering Data Stack 3.0 is the modern and
50+ distinctive models scalable architecture that helps
nudge variants live
deploy 1000+ use cases
40% 2x
contribution to TD business via data Fraud prevention in FY24 TD Vs FY22
backed personalization framework via robust alerts framework
69
B Distinctive customer experience : World’s highest rated Mobile Banking App,
doubling up as our largest branch
Store Rating Bank on-the-go with ‘open’
4.8 Hyper personalized | Intuitive | Seamless

4.8 Highest rating of 4.8 on Google Play Store with 2.6 mn+ reviews across 64
global banks, 82 fintechs and 9 neo banks
People’s Choice
67% 250+ ~ 28 mn ~ 14 mn
of Branch service request DIY Services on Registered customers on Monthly active users on Axis
volumes covered mobile channel Axis Mobile Banking Mobile Banking *
~ 11 mn ~`6.0 tn ~ 1.8 bn 62%

Non-Axis Bank customers using Axis MB spends in Q4FY24, MB volumes in Q4FY24, up MB customers banking only
Mobile & Axis Pay apps up 39% YOY 52% YOY on mobile app
as of Mar-24
* Monthly Active Users engaging in financial and non-financial transactions

70
B Distinctive customer experience: redesigned FD journey
Best in class 3 click FD journey
Customised options for Cross-selling OD against FD

selecting tenure during premature closure
journey
Option to enter deposit name,

employee code and default re-
invest

71
B Distinctive customer experience: Hyper personalised nudges
Regulatory and Servicing Cross sell and upsell Payment and investment

72
C We continue to scale up Account Aggregator based use cases
Recently launched ‘One View’ on Axis Mobile
Multiple use cases live in asset onboarding journeys
Small Business
Personal Loan Auto Loan
Loan
Peer Bank 1
Peer Bank 2 Two-Wheeler

Credit Cards Home Loan
Loan
71% 117%
• Consolidated balances from different banks ~ 0.70 mn YOY growth in AA* based YOY growth in AA based Auto
• Track all transactions at one place Personal loans disbursed loans** disbursed
Registrations in last 11
• Download and Email statement months since launch * Accounts Aggregator ** Including Two-Wheeler Loan

73
C We continue to introduce new products driven by our OPEN philosophy…
Personal loans Central Bank

Digital KCC Digital Gold loans Bill Pay
on Flipkart Digital Currency
NEW NEW NEW NEW REDESIGNED

74
C …while significantly scaling up existing products
24x7 Personal loan 24x7 Auto loan Digital FD Cards portfolio Forex Card
24x7 Personal loan
58% 31% 57% 74% 83%

Share of PL disbursed digitally* YOY increase in Auto loans YOY increase in retail individual Cross sell / Up sell digitally Share of Forex Cards
(end to end) by value disbursed digitally* (by value) FDs sourced digitally* (by value) issued digitally

*Q4FY24 75
C UPI has scaled up tremendously to become a key channel for customer transactions
We have developed best-in-class UPI stack that enables us to offer cutting edge customized solutions across SDK, Intent, Collect and Pay
offerings apart from new use cases like UPI AutoPay
Dedicated IT cloud infrastructure to exclusively handle high volume UPI transactions has resulted in Axis Bank achieving one of the lowest
decline rates as a remitter when compared to peer banks
Strong customer base and partnerships UPI transaction value and volumes UPI P2M Throughput
(as Payer PSP) (in ` crores)
837 mn
Cumulative VPA base** 74% YOY
6,963 35% YOY
~ 8.3 mn 5,520 5,760 2,66,549

Merchants transacting per day on our stack 4,270 4,196 39% YOY 2,35,858
1,96,082
Marque partnerships across the PSP and 9,68,566
8,92,857 1,67,237
acquiring side 1,53,590
7,60,294
6,41,725 6,20,476
and many others.. Q4FY23 Q1FY24 Q2FY24 Q3FY24 Q4FY24 Q4FY23 Q1FY24 Q2FY24 Q3FY24 Q4FY24
** A user registering VPA once in Axis Pay and once in Google Pay is Quarterly transaction value (in `Cr)
counted as 2 Quarterly transaction volume (in mn)

76
Executive Summary
Asset Quality
Sustainability

77
Declining gross NPA, slippages and credit costs; stable asset quality
visible across all segments
GNPA at 1.43% & NNPA at 0.31% Segmental composition
Retail CBG WBG Total
64%^ 72%^ 93%^ 79%^
2.02% 1.96%
1.73% 1.58% 1.43%
1.18% 1.98%
0.39% 0.41% 0.36% 0.36% 0.31% 1.43%
0.42% 0.93%
0.14% 0.31%
0.26%
Q4FY23 Q1FY24 Q2FY24 Q3FY24 Q4FY24 GNPA NNPA GNPA NNPA GNPA NNPA GNPA NNPA
GNPA % NNPA %
^ Provision coverage ratio without technical write offs
Slippages (Annualised) Credit Cost (Annualised)
1.76% 1.87%
1.49% 1.62% 1.48%
0.80% 0.74% 0.70% 0.68%
0.59% 0.50% 0.57% 0.60% 0.54%
0.38%
0.22%
0.50% 0.42% 0.28% 0.32%
Q4FY23 Q1FY24 Q2FY24 Q3FY24 Q4FY24 Q4FY23 Q1FY24 Q2FY24 Q3FY24 Q4FY24
Gross slippages Net slippages Credit Cost Net credit cost**

** credit cost net of recoveries in written off accounts

78
Legacy asset quality issues adequately addressed
Overall Credit Costs: FY10 to Q4FY24

3.57%
3.53%
Trend in BB corporate book
Credit Cost 7.29% (Fund based as % of GCA)
2.82%
Net Credit Cost
2.78%
1.91% 2.15%
1.32%
1.87% 0.28%
1.89%
1.35% Long term (FY03 to FY23) 1.56% 1.68% Jun'16 Mar'19 Mar'24
1.11%
1.04%
1.19% 0.70% 0.74% 0.74%
0.61% 0.62% 0.61% 1.06%
0.72% 0.70% 0.68%
0.54%
0.50% 0.54%
Asset quality metrics
0.54% 0.55% 0.42%
0.46% 0.48% 0.40% 0.32%
0.37% 62%
0.28%
56% 5.26%
79%
FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 Q1 Q2 Q3 Q4
FY24 FY24 FY24 FY24 2.06%
1.67% 1.43%
0.70% 0.31%
• Reduced lumpiness of the wholesale business: Given quality and granularity of the wholesale book, the new credit costs
Credit Costs
Drivers of
should be lower for this cycle as compared to previous cycle Mar'16 Mar'19 Mar'24
GNPA NNPA
• Provisioning rules tightened and rule based, PCR an outcome: We now operate at 15% to 20% higher than where we
used to previously operate. This needs to be factored in the incremental provisioning in the short term
• We feel comfortable growing our retail unsecured book now: It will give us better risk adjusted NIMs, credit costs PCR Without technical writeoffs
standalone will be higher

79
Detailed walk of NPAs over recent quarters All figures in ₹ Crores

Gross NPAs - Opening balance A 19,961 18,604 18,158 16,757 15,893
Gross NPAs acquired from Citi B 396 - - - -
Fresh slippages C 3,375$ 3,990 3,254 3,715 3,471
Upgradations & Recoveries D 2,699 2,305 1,985 2,598 2,155
Write offs E 2,429 2,131 2,671 1,981 2,082
Gross NPAs - closing balance F = A+B+C-D-E 18,604 18,158 16,757 15,893 15,127
Provisions incl. interest capitalisation G 15,045 14,455 13,315 12,366 11,880
Net NPA H = F-G 3,559 3,704 3,441 3,527 3,247
Provision Coverage Ratio (PCR) 81% 80% 79% 78% 79%
Accumulated Prudential write offs I 38,015 38,332 39,404 40,211 39,683
PCR (with technical write-off) (G+I)/(F+I) 94% 93% 94% 94% 94%
Provisions & Contingencies charged to Profit & Loss Account

Loan Loss Provisions 270 1,146 1,010 691 832
Other Provisions 36 (111) (195) 337 353
For Standard assets* 204 77 111 70 (15)
Others (168) (188) (306) 267 368
Total Provisions & Contingencies (other than tax) 306 1,035 815 1,028 1,185
$ includes non-recurring impact of day 1 cross NPA slippages from acquisition of Citi India Consumer Business
* including provision for unhedged foreign currency exposures

80
Executive Summary
Asset Quality
Sustainability

81
Ranked 1st in Corporate Governance among the financial sector peers
Indian Corporate Governance rating across various metrics

1st
Ranked No. 1 in corporate
77 5th Rank 74%
governance scorecard in the
Responsibilities of the
financial sector Governance Score 4% of companies in the board
S&P BSE 100* have a
higher score
Corporate Governance Scorecard
Banker* Score
Axis Bank 77
Peer 1 75
83% 75% 76%
Peer 2 71 Rights of investors Role of stakeholders Disclosures and
transparency
Peer 3 69
Peer 4 68
Corporate Governance Scorecard as per an evaluation done by Institutional Investor Advisory Services * Peers that are part of the S&P BSE 100 in the Financial Sector Quarterly Results Q4FY24
82
Committed to Positive Climate Action and Achieving the SDGs
In September 2021, the Bank announced commitments aimed at supporting India’s low-carbon and equitable economic
transition towards achieving the SDGs and India’s commitments under the Paris Agreement
Our Commitment Unit Progress As of March Progress as of March Progress as of March
2022 2023 2024
Incremental financing of Rs. 30,000 Crores under Wholesale Banking to Cumulative ₹10,414 Cr (from Aug ~₹20,400 Cr ~₹30,409 Cr
sectors with positive social and environmental outcomes, by FY 2026 Exposure 2021)
EV % as share of
Making 5% of its retail Two-Wheeler loan portfolio as electric by FY 2024 0.82% 2.52% 3.62% *
TW loan portfolio
• Incremental
Incremental disbursement of Rs. 10,000 crores by FY 2024 under Asha
disbursement ₹3,359 Cr ₹6,602 Cr ₹9,902 Cr
Home Loans for affordable housing; increasing share of women borrowers
• Share of women 5.86% 15.69% 17.70%
from 13.9% to 16.9%
borrowers
Scaling down exposure to carbon-intensive sectors, including Coal Progress on Glide Glide path till 2030 Exposure below FY 2023 Exposure below FY 2024
and Thermal Power Path created Target Target
Reaching 30% female representation in its workforce by FY 2027 Overall diversity 24.6% 25.7% 25.0%
Planting 2 million trees by FY 2027 across India towards contributing to Site preparation ~0.83 million saplings ~1.44 million saplings
Saplings planted
creating a carbon sink completed at 5 locations planted planted
* Cumulative, from 1 Oct 2021

* % for FY 2024 standalone is at 5.53%

83
Striving for Operational Excellence
Committed to reducing our operational carbon footprint
The Bank’s 3 largest offices, in Mumbai and Bangalore are running on 100% renewable
power
Solar energy project implemented at Solapur, aggregating ~2 MW, which helped save
~2,584.90 tCO2e of carbon emissions during FY23
Centralized Energy Management System (CEMS) at 600 branches,

saving ~3,242 tonnes of CO2 emissions
The bank incorporated various energy efficiency programs in a data center in Bangalore
which leading to an estimated power saving of 1,401,600 units per year.
Providing EV Charging infrastructure at Head offices in Mumbai and at Noida
~ 12,152 Metric tons of GHG emissions avoided from diverse energy saving initiatives
‘Branch of the Future’ initiative by Digital Banking helping each branch save estimated
~ 2 million sheets of paper annually

84
Executive Summary
Asset Quality
Sustainability

85
Significant value creation happening in our key group entities
Detailed One Axis presentation Link
Invst Banking Consumer Retail Fintech

Asset Management Trustee TReDS platform Insurance
& Inst Equities focused NBFC Brokerage platform
One of the fastest Leadership position in AAA rated NBFC with 3rd largest bank led Amongst the leading One of the major fintech Leading player on 4th largest private
growing MF player ECM deals segment diversified product offerings brokerage firm trustees in India players in India TReDs platform insurance company @
1 2
75% (JV Schroders Plc ) 100% 100% 100% 100% 100% 67% 12.99% (Co-promoter),
Accounting Associate
3
47% All figures in ` Crores, other than %
Total investments* made Combined PAT* of operating subs

Combined networth* of operating subs
36% CAGR ^
10% CAGR^ 28% CAGR^ 22% YOY
2,923
2,622 8,202 1,591
2,216
6,409 1,304
1,801 1,808 1,816 1,195
4,768
833
3,291
2,410 2,552
477
347
Mar-19 Mar-20 Mar-21 Mar-22 Mar-23 Mar-24 Mar-19 Mar-20 Mar-21 Mar-22 Mar-23 Mar-24 FY19 FY20 FY21 FY22 FY23 FY24
(Annualized)
1) 25% is held by Schroders Plc 2) Position as on 31st March 2024 and including stakes owned by Axis Capital and Axis Securities; the Bank has increased its collective stake to 19.02% in April’24
3) 47% effective stake held by Axis Group in step down subsidiary (51% stake held by Axis Mutual Fund & 9% stake held by Axis Bank)
^ CAGR for Mar-19 to Mar-24 period @ Based on New Business Premium Quarterly Results Q4FY24
86
* The figures represented above are for the Bank’s domestic group entities as per Indian GAAP, as used for consolidated financial statements of the Group
Axis Finance : PAT up 28% YOY, Retail book up 51% YOY
Growth in Assets under Finance (AUF) 32,123 42% CAGR** All figures in ₹ Crores, other than %
709 38% YOY
Major Highlights
23,340 • 51% YOY growth in Retail book, retail mix up ~395 bps YOY to 45%
14,337
811
(45%)
17,261
9,495 • 31% YOY growth in Wholesale loan book
637
11,240
5,694
586 • 16.8% ROE for FY24 and 18.5% for Q4FY24
1,880 17,077
13,034
8,774
10,930 • 19.2% Capital adequacy ratio
(53%)
Mar'21 Mar'22 Mar'23 Mar'24 • 0.28% Net NPA with near zero restructuring
** CAGR for period Mar’21 to Mar’24 Wholesale + Emerging Retail Treasury
36% CAGR*
Trend in total income, pre-provision profit and PAT
45% YOY
26% CAGR* 3,321 38% YOY
33% CAGR* 2,297

28% YOY
1,514
911 984 1,023 916
548 663 610
358 363 385 364 475
227 193 211
Income Pre-provision profit PAT
* 4 yr CAGR (FY20 to FY24) Quarterly Results Q4FY24

87
Axis AMC : Revenue up 10% YOY
All figures in ₹ Crores, other than %
Overall QAAUM 19% CAGR* Equity QAAUM 28% CAGR*

14% YOY
20% YOY
2,74,265
2,59,818 1,64,981
2,41,415
1,43,546 1,37,074
1,96,549
98,822
1,38,402
61,968
Mar-20 Mar-21 Mar-22 Mar-23 Mar-24 Mar-20 Mar-21 Mar-22 Mar-23 Mar-24
50% CAGR* Trend in PAT Major Highlights
415 414
357 • 5% AUM market share as of Mar’24
242 • FY24 revenue stood at 1,102 crores up by 10%
121 • 66% of overall AUM consists of Equity & Hybrid funds

55
• Highest rated customer app (AppStore 4.7 & PlayStore 4.5) in AMCs
* CAGR for period FY19 to FY24
• ~12.4 mn client folios as at of Mar’24
Scheme AUM/AAUM (Amt in cr) Rs.264946.86 / Rs.274265.28 Asset Classwise AUM / AAUM: Liquid/Money Market:
29720.95/37168.27, Gilt: 285.72/256.42, Income/Debt: 45552.33/51429.69 Equity including ELSS: 166925.60/162992.58, Hybrid:
9432.58/9917.86, Solution: 2025.06/1988.00, Index: 5393.48/5175.59, ETF: 3683.51/3482.98, FOF: 1927.62/1853.89 . AUM by
geography (%) [Cities]: Top 5: 52.97% Next 10: 14.51% Next 20: 6.32% Next 75: 7.81% Others: 18.39% Quarterly Results Q4FY24
88
Axis Capital : Among the leading players in Equity Capital Markets
FY24 Ranking* (includes IPO, FPO, QIP, REIT, OFS & Rights)
Major Highlights
Rank Banker No of Deals*
1 Peer 1 54 • 90 IB deals closed in FY24 that include 52 ECM and 7 M&A deals
2 Axis Capital` 39 • 2nd rank in ECM deals

3 Peer 3 42
• 62% of India's market cap under coverage
4 Peer 4 36
• ₹532 crores – Revenue from operations in FY24
5 Peer 5 22
All figures in ₹ Crores, other than %

Revenue from Operations Profit After Tax
22% CAGR^ 21% YOY 11% CAGR^ 6% YOY
521 532
441 200
381 166
142 150
241 100
FY20 FY21 FY22 FY23 FY24 FY20 FY21 FY22 FY23 FY24
*Source: Primedatabase; Updated till 31st March, 2024; Quarterly Results Q4FY24
Includes all Equity IPOs, FPOs, QIPs, OFS, REIT, InvIT,Rights Transactions 89
^ CAGR for period FY20 to FY24
Axis Securities : PAT up 48% YOY
Total customer base (in mn)
12% YOY
3rd largest bank led retail brokerage in terms of customer base 21% CAGR*
Major Highlights
5.45
4.86
4.17 • 12% YOY growth in customer base in Q4FY24
3.63
• 51% of the volumes in Q4FY24 was from Mobile trading
2.10 2.27
• 57% of clients traded through Axis Direct Mobile App in Q4FY24
• ₹ 386 crores - broking revenues in Q4FY24, up 103% YOY

Mar'19 Mar'20 Mar'21 Mar'22 Mar'23 Mar'24
Broking Revenue 58% YOY Profit After Tax

48% YOY
56% CAGR* 109% CAGR*
1,143
301
724 232
662 166 203
425
191
16
FY20 FY21 FY22 FY23 FY24

FY20 FY21 FY22 FY23 FY24

* CAGR for period FY20 to FY24 90
Axis Trustee: Revenue up 7%YOY, AUM up 30% YoY
30% YOY
Assets Under Trust
16% CAGR*
Major Highlights
39,04,153
• 23% growth in Customer base
29,94,794 30,01,067
26,43,586 • 31% growth in new mandates
21,26,291
• 24% (AUM) market share in Debenture Trustee segment - 2nd Rank
• 138% revenue growth in Facility Agency business
• 93% volume growth in Alternate Investment Fund business

7% YOY
Revenue 13% CAGR* Profit After Tax 8% CAGR*
57.88 24.64 24.66

53.95 23.23
47.51 20.12
18.24
35.30 37.09
FY20 FY21 FY22 FY23 FY24 FY20 FY21 FY22 FY23 FY24

* CAGR for period FY20 to FY24 91
A.TREDS: Invoicemart reaching a new high of facilitating Rs 1 lakh crore of
MSME invoice financing
A.TREDS is the largest TReDS entity which operates on a perpetual license, allowed by RBI to set up the Trade
Receivables Discounting System (TReDS), an electronic platform for facilitating cash flows for MSMEs
The TReDS platform connects MSME sellers and their corporate buyers to multiple financiers. It enables
discounting of invoices of the MSME sellers raised on large buyers, through a transparent bidding mechanism that
ensures financing of receivables at competitive market rates.
Our digital invoice discounting platform ‘Invoicemart’ has set a new benchmark by facilitating financing of MSME
invoices of more than ₹ 1,04,00 crs+.
Invoicemart has helped in price discovery for MSMEs across 1000+ locations in India who are now able to get their
bills discounted from 61 financiers (banks, NBFC factors and NBFCs)
Progress so far (Jul’17 to Mar’24)
Throughput Invoices Discounted (in No’s) Participants on-board

~ ₹ 1,04,000 Cr ~ 26 Lakh ~ 31,400

92
Freecharge: Scaling the Merchant and Payment Aggregation businesses and focusing
on profitability for Consumer Payments & Lending
Merchant Business Payment Aggregation Consumer Payments & Lending
• 10% growth in number of transactions in Q4 • Increased deepening and engagement with • Bill payments GMV increased by 10% in Q4 FY24
FY24 from Q3 FY24 existing enterprises vs Q3 FY24
• 9% growth in merchant GMV in Q4 FY24 • 40% increase in the GMV and 23% increase in • Increased focus on profitability for consumer
compared to Q3 FY24 the ATV in Q4 FY24 vs Q3 FY24 payments with reduction in marketing spends and
improved transaction margins
• Gold loan and current account showed positive • New features rolled out –
traction in numbers – Total disbursal in gold loan • GMV per marketing rupee spent increased by
grew at a compounded monthly growth rate of • Consumer payments traffic migration to FCPG ~57% from Q3 FY24 to Q4 FY24
94% over Q4 FY24 and Q3 FY24 (last 6 months) completed (Klickpay sunset)
• Multi acquiring capability integration completed • 55% growth in UPI TPV in Q4 vs Q3 FY24
• Rolled out new digital capabilities for merchants to
apply for Axis Bank current accounts, pay digitally • UPI recurring mandate launched • Credit card linking on UPI: 31% growth in the
for funding and facilitate financial monitoring of the • Multi product and split payment link launched number of credit cards linked to UPI in Mar FY24 vs
accounts conveniently via the Freecharge Dec FY24
• MPGS (Mastercard PG) integration done to
merchant app.
improve transaction TAT

93
Executive Summary
Asset Quality
Sustainability

94
Our winning mindset is reflected in multiple awards and recognitions…
Won ‘Domestic Retail Bank of the Won “Infosys Finacle Award”, Won BFSI Tech “Best Product
Best BFSI Customer
year’ and ‘Digital Transformation for AI implementation Innovation in BFSI (Sarathi)” Award
Experience of the year for
Best BFSI Brand Award of the year’ Award NEO API Banking Suite
Won ‘Best Advisory Solution Won ‘Best Digital Bank - Private’

Ranked 3rd for India Large Corporate Asia’s Best in Infrastructure
Merchant Banker of the year Platform and Best Private Bank for award at the financial Express
banking and Middle Market banking Modernization Digital Marketing & Communication’ Awards
Award
Won “Highest Improvement in Data Won ‘Best Security Practices in Won “Retail Banker’s International
Quality of Commercial Bureau” Award Banking Sector’ Award at NASSCOM- Won ‘Star Performer’ Award under ‘Most Recommended Retail Asia Trailblazer”, for use of AI & ML
DSCI Annual Excellence Award 2023 NPS Game Changers Campaign Bank in India’ and ‘Most Helpful in financial services
Bank during Covid-19 in India’
Won ‘Enterprise IT Excellence’ Award

Won “Finnoviti Award for for Business Resilience Impact of
Project Maximus” Technology category
Won ‘Leadership in Social Impact’ Ranked 1st on Fortune List of ‘Best Sustainability-linked Bond
award at the ESG India “Future Ready workplaces”. – Financial Institution’ for its
Leadership Awards 2021 US$600m Sustainable AT1 Bond
95
Shareholding Pattern (as on March 31, 2024)
Life Insurance Corporation Others

7.93% 6.46%
GDR's
3.48%
Foreign Institutional
Investors
53.05%
Indian Institutions
29.08%
▪ Share Capital `617 crores

▪ Shareholders’ Funds `150,235 crores
▪ Book Value Per Share `487
▪ Diluted EPS (Q4 FY24) (Annualised) `92.34
▪ Market Capitalization `325,342 crores (as on April 22nd, 2024)

96
Financial Performance (before exceptional items of FY23)
Financial Performance (₹ crores) Q4FY24 Q4FY23 % Growth FY24 FY23 % Growth
Interest Income A 29,225 23,970 22% 1,09,369 85,164 28%
Other Income B = C+D+E 6,766 4,788 41% 22,442 16,143 39%
- Fee Income C 5,637 4,568 23% 20,257 15,858 28%
- Trading Income D 1,021 83 - 1,731 (242) -
- Miscellaneous Income E 107 136 (21%) 454 527 (14%)
Total Income F = A+B 35,990 28,758 25% 1,31,811 1,01,307 30%
Interest Expended G 16,136 12,228 32% 59,474 42,218 41%
Net Interest Income H = A-G 13,089 11,742 11% 49,894 42,946 16%
Operating Revenue I = B+H 19,855 16,530 20% 72,336 59,089 22%

Core Operating Revenue* J 18,834 16,447 15% 70,606 59,332 19%
Operating Expenses K 9,319 7,362 27% 35,213 27,041 30%
-Staff Expense L 2,924 2,164 35% 10,933 8,797 24%
-Non Staff Expense M 6,396 5,199 23% 24,280 18,243 33%
Operating Profit N = I-K 10,536 9,168 15% 37,123 32,048 16%
Core Operating Profit* O 9,515 9,084 5% 35,393 32,291 10%
Provisions other than taxes P 1,185 306 288% 4,063 2,653 53%
Profit Before Tax Q = N-P 9,350 8,862 6% 33,060 29,396 12%
Tax Expenses R 2,221 2,237 (1%) 8,199 7,463 10%
Net Profit S = Q-R 7,130 6,625 8% 24,861 21,933 13%
EPS Diluted (in `) (annualized) 92.34 86.31 80.10 71.03
Return on Average Assets
2.00 2.10% 1.83% 1.82%
(annualized)
Return on Equity (annualized) 20.35% 21.12% 18.86% 18.38%
Capital Adequacy Ratio (Basel III)
16.63% 17.64% 16.63% 17.64%
(incl. profit)
* excluding trading profit

Prior period numbers have been regrouped as applicable for comparison
97
Financial Performance (before exceptional items of FY23)
Financial Performance ($ mn) Q4FY24 Q4FY23 % Growth FY24 FY23 % Growth
Interest Income A 3,504 2,874 22% 13,113 10,211 28%
Other Income B = C+D+E 811 574 41% 2,691 1,935 39%
- Fee Income C 676 548 23% 2,429 1,901 28%
- Trading Income D 122 10 - 208 (29) -
Total Income F = A+B 4,315 3,448 25% 15,804 12,146 30%

Operating Expenses K 1,117 883 27% 4,222 3,242 30%
-Staff Expense L 351 259 35% 1,311 1,055 24%
-Non Staff Expense M 767 623 23% 2,911 2,187 33%
Provisions other than taxes P 142 37 288% 487 318 53%
Profit Before Tax Q = N-P 1,121 1,063 6% 3,964 3,524 12%
Tax Expenses R 266 268 (1%) 983 895 10%
Net Profit S = Q-R 855 794 8% 2,981 2,630 13%
EPS Diluted (in `) (annualized) 92.34 86.31 80.10 71.03
Return on Average Assets
2.00 2.10% 1.83% 1.82%
(annualized)
Return on Equity (annualized) 20.35% 21.12% 18.86% 18.38%
Capital Adequacy Ratio (Basel III)
16.63% 17.64% 16.63% 17.64%
(incl. profit)
$ figures converted using exchange rate of 1$ = `83.405

Prior period numbers have been regrouped as applicable for comparison Quarterly Results Q4FY24
98
Financial Performance (as reported)
Financial Performance (₹ crores) Q4FY24 Q4FY23 % Growth FY24 FY23 % Growth
Interest Income A 29,225 23,970 22% 1,09,369 85,164 28%
Other Income B = C+D+E 6,766 4,788 41% 22,442 16,143 39%
- Fee Income C 5,637 4,568 23% 20,257 15,858 28%
- Trading Income D 1,021 83 - 1,731 (242) -
Total Income F = A+B 35,990 28,758 25% 1,31,811 1,01,307 30%

Operating Expenses K 9,319 7,362 27% 35,213 27,041 30%
-Staff Expense L 2,924 2,164 35% 10,933 8,797 24%
-Non Staff Expense M 6,396 5,199 23% 24,280 18,243 33%
Provisions other than taxes P 1,185 306 288% 4,063 2,653 53%
Profit Before Exceptional Items and Tax Q = N-P 9,350 8,862
6% 33,060 29,396 12%
Exceptional items R - 12,490 - - 12,490 -
Profit before tax S = Q-R 9,350 (3,628) - 33,060 16,906 96%
Tax Expenses T 2,221 2,100 6% 8,199 7,326 12%
Net Profit U = S-T 7,130 (5,728) - 24,861 9,580 160%
EPS Diluted (in `) (annualized) 92.34 (75.53) 80.10 31.02
Return on Average Assets (annualized) 2.00 (1.83%) 1.83% 0.80%
Return on Equity (annualized) 20.35% (19.20%) 18.86% 8.47%
Capital Adequacy Ratio (Basel III) (incl.
16.63% 17.64% 16.63% 17.64%
profit)

Prior period numbers have been regrouped as applicable for comparison
99
Financial Performance (as reported)
Financial Performance ($ mn) Q4FY24 Q4FY23 % Growth FY24 FY23 % Growth
Interest Income A 3,504 2,874 22% 13,113 10,211 28%
Other Income B = C+D+E 811 574 41% 2,691 1,935 39%
- Fee Income C 676 548 23% 2,429 1,901 28%
- Trading Income D 122 10 - 208 (29) -
Total Income F = A+B 4,315 3,448 25% 15,804 12,146 30%

Operating Expenses K 1,117 883 27% 4,222 3,242 30%
-Staff Expense L 351 259 35% 1,311 1,055 24%
-Non Staff Expense M 767 623 23% 2,911 2,187 33%
Provisions other than taxes P 142 37 288% 487 318 53%
Profit Before Exceptional Items and Tax Q = N-P 1,121 1,063 6% 3,964 3,524 12%
Exceptional items R - 1,498 - - 1,498 -
Profit before tax S = Q-R 1,121 (435) - 3,964 2,027 96%
Tax Expenses T 266 252 6% 983 878 12%
Net Profit U = S-T 855 (687) - 2,981 1,149 160%
EPS Diluted (in `) (annualized) 92.34 (75.53) 80.10 31.02
Return on Average Assets (annualized) 2.00 (1.83%) 1.83% 0.80%
Return on Equity (annualized) 20.35% (19.20%) 18.86% 8.47%
Capital Adequacy Ratio (Basel III) (incl.
16.63% 17.64% 16.63% 17.64%
profit)

100
Balance Sheet
Balance Sheet As on 31st Mar’24 As on 31st Mar’23 As on 31st Mar’24 As on 31st Mar’23 % Growth
CAPITAL AND LIABILITIES In ` Crores In ` Crores in $ Mn in $ Mn
Capital 617 615 74 74 0.3%
Reserves & Surplus 1,49,618 1,24,378 17,939 14,913 20%
ESOP Outstanding 827 424 99 51 95%
Deposits 10,68,641 9,46,945 1,28,127 1,13,536 13%
Borrowings 1,96,812 1,86,300 23,597 22,337 6%
Other Liabilities and Provisions 60,694 58,664 7,277 7,034 3%
Total 14,77,209 13,17,326 1,77,113 1,57,943 12%
ASSETS
Cash and Balances with RBI / Banks

1,14,454 1,06,411 13,723 12,758 8%
and Call money
Investments 3,31,527 2,88,815 39,749 34,628 15%
Advances 9,65,068 8,45,303 1,15,709 1,01,349 14%
Fixed Assets 5,685 4,734 682 568 20%
Other Assets 60,474 72,063 7,251 8,640 (16%)
Total 14,77,209 13,17,326 1,77,113 1,57,943 12%

101
Limited restructuring, largely secured and well provided; Declining
BB & Below Book All figures in ₹ Crores
Bank’s Net NPA* and Fund based BB and Below* portfolio Update on restructured book
Outstanding Covid (1+2) restructuring as on 31.03.2024 Implemented

PCR (excluding technical write offs) at 79%; net NPA improved 8 bps YoY
81% Bank 1,528

80% 79% 78% 79%
Retail 1,331
0.90%
0.77% 0.80% Wholesale 197

0.80% 0.71%
0.65% CBG -
0.70%
0.59%
0.60%
0.38% 0.39% Bank as a % of GCA 0.14%

0.50%
0.35% 0.29%
0.40%
0.28% Retail as a % of segment GCA 0.23%
0.30%
Wholesale as a % of segment GCA 0.07%

0.20%
0.39% 0.41% 0.36% 0.36% 0.31%

0.10%
CBG as a % of segment GCA -

0.00%
Q4FY23 Q1FY24 Q2FY24 Q3FY24 Q4FY24 ▪ Overall provision on restructured book Rs. 504 crs, coverage ~ 20%
Net NPA BB & Below (Fund based) PCR without technical write-offs ▪ ~98% of Retail Covid (1+2) is secured, unsecured 100% provided
▪ Linked but not restructured NFB Rs.751 crores
▪ MSME (1+2) restructured book Rs. 259 crs, 0.02% of GCA, provision held Rs. 75 crs
▪ Linked non-restructured book Rs. 90 crores, provision held Rs. 31 crs
Key comments on BB and Below book
BB & below book
▪ Rs. 457 crs downgraded to BB & below during the quarter
BB & Below Outstanding Q3 FY24 Q4 FY24 ▪ Rs. 166 crs slippages (FB + Investments) to NPA
▪ Rs. 194 crs reduction in balances/exits from the BB & Below book during the quarter
Fund based (FB) 2,884 2,978
▪ Average ticket size ~ Rs. 32 crs
Non fund based 1,482 1,453 ▪ ~ 20% of BB & Below book rated better by at least one rating agency
Investments 668 700 ▪ Top 4 sectors comprising Power Generation & Distribution, Infra Construction, Food
Processing and Real Estate account for 63% of FB book
The outstanding amount in ‘BB and Below’ portfolio incorporates cumulative impact of rating Upgrades /
Downgrades and Slippages from the pool
*As % of customer assets, as applicable Quarterly Results Q4FY24
102
Safe Harbor
Except for the historical information contained herein, statements in this release which contain words or phrases
such as “will”, “aim”, “will likely result”, “would”, “believe”, “may”, “expect”, “will continue”, “anticipate”, “estimate”,
“intend”, “plan”, “contemplate”, “seek to”, “future”, “objective”, “goal”, “strategy”, “philosophy”, “project”, “should”,
“will pursue” and similar expressions or variations of such expressions may constitute "forward-looking
statements". These forward-looking statements involve a number of risks, uncertainties and other factors that
could cause actual results to differ materially from those suggested by the forward-looking statements. These
risks and uncertainties include, but are not limited to our ability to successfully implement our strategy, future
levels of non-performing loans, our growth and expansion, the adequacy of our allowance for credit losses, our
provisioning policies, technological changes, investment income, cash flow projections, our exposure to market
risks as well as other risks. Axis Bank Limited undertakes no obligation to update forward-looking statements to
reflect events or circumstances after the date thereof.

103
Thank You

104

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AXIS/CO/CS/51/2024-25

April 24, 2024

National Stock Exchange of India Limited BSE Limited

NSE Symbol: AXISBANK BSE Scrip Code: 532215

This is for your information and records.

For Axis Bank Limited

Operating Profit and Net Profit

Net Interest Income and Net Interest Margin

Provisions and contingencies

FY24 Financial Performance:

Balance Sheet: As on 31st March 2024

Payments and Digital

Wealth Management Business – Burgundy

Capital Adequacy and Shareholders’ Funds

Key Subsidiaries’ Performance

Financial Performance Q4FY24 Q4FY23 % Growth FY24 FY23 % Growth

Other Income 6,766 4,788 41% 22,442 16,143 39%

Operating Revenue 19,855 16,530 20% 72,336 59,089 22%

Net Profit/(Loss)* 7,130 (5,728) - 24,861 9,580 160%

(i) CASA Deposits 4,59,401 4,46,536 3%

(ii) Term Deposits 6,09,241 5,00,409 22%

CASA Deposits on a Quarterly Daily Average Basis

Net Advances (a) +(b) + (c) 9,65,068 8,45,303 14%

Investments 3,31,527 2,88,815 15%

Balance Sheet Size 14,77,209 13,17,326 12%

Gross NPA as % of Gross Customer Assets 1.43% 2.02%

Equity Capital 617 615 0.3%

Capital Adequacy Ratio (Basel III) 16.63% 17.64%

NSE: AXISBANK BSE: 532215 LSE (GDR): AXB

3rd ~ 48 mn 1,04,000+ 5,377

5.5% 5.0% 5.9% 14.0%

Profitability 19.29% 4.06% 2.95% 2.55%

Balance Sheet 16.63% | 13.74% `121 Bn | 1.26% 79% | 0.31%

28% 10% 2rd 48%

▪ Deposit Mobilization to drive loan growth

▪ Driving higher growth in high RAROC focus

Sustainability Bolstered the Sustainability

Customer Centricity Ethics Transparency Teamwork Ownership

B Creating multiplicative forces to build competitive advantage

C Building for the future

Quarterly Results Q4FY24 4

Cons ROA 0.66% 1.84%

CET 1 11.27% 13.74% 41 bps of additional provision

Trend in Consolidated ROA and ROE

FY20 FY21 FY22 FY23 * FY24

Quarterly Results Q4FY24

Last 5 yrs CAGR CASA to Average Assets

-1.0% Mar'22 Mar'24

Peer 1 Peer 2 Axis Bank

Mar'19 Mar'24 FY19 FY24 Mar'19 Mar'24

SBB + SME + MC segment growth Mobile Banking Leader in Wholesale

` billion 22% YOY

3.51% 3.53% 62%

Trend in Standalone ROA and RoRWA

Improved the fee profile significantly in last few years

Granular* Fee 1.35%

FY19 FY20 FY21 FY22 FY23 FY24

~93% ~600 bps 19%

Healthy Capital 13.74% 44 bps 41 bps

600 ~2.2 Mn 67% MSCI ESG Ratings