Axis Bank, the third-largest private sector bank, reported a 23 per cent rise in net profit for the June quarter to ₹7,114 crore compared with ₹5,806 crore in the corresponding period last year, driven by improved margins.Total income increased 6 per cent to ₹40,721 crore from ₹38,322 crore a year ago. The Net Interest Income (NII) grew 8 per cent to ₹14,646 crore, while Net Interest Margin (NIM) stood at 3.46 per cent.Fee income rose 7 per cent year-on-year to ₹6,156 crore, while retail fees grew 2 per cent and accounted for 67 per cent of the bank’s total fee income. Non-interest income, comprising fee, trading and miscellaneous income stood at ₹6,735 crore.Provisions and contingencies were ₹2,223 crore, while specific loan loss provisions stood at ₹2,079 crore. The bank held cumulative provisions of ₹15,608 crore as on June-end.The cumulative provisions translate into a standard asset coverage ratio of 1.24 per cent, the bank said.During the fourth quarter of FY26, the bank had proactively strengthened its balance sheet by voluntarily enhancing its prudent provisioning framework for standard assets.“Based on an assessment of evolving and unpredictable macroeconomic and geopolitical uncertainties, the bank had created an additional one-time provision of ₹2,001 crore during Q4FY26. The bank has not drawn down from the West-Asia related provision created in Q4FY26 and the provision continues to remain at ₹2,001 crore as of June-end,” the bank said.The bank reported gross NPA and net NPA levels at 1.28 per cent (1.57 per cent) and 0.39 per cent (0.45 per cent), respectively, reflecting an improvement in asset quality.Recoveries from written-off accounts for the quarter stood at ₹961 crore. Gross slippages during the quarter declined to ₹5,566 crore from ₹8,200 crore in the year-ago period.Recoveries and upgrades from NPAs were at ₹2,126 crore, while the bank wrote off NPAs aggregating ₹2,399 crore during the quarter.The board has appointed Rajeev Mantri as chief financial officer of the bank from September 28, 2026. Prior to this, Mantri served as executive president and chief financial officer of Bandhan Bank. Published on July 18, 2026