Axis Bank posted strong Q2 business update with healthy loan and deposit growth; brokerages maintain buy ratings

Tue 6 Oct 2026

Advances growth YoY

23 percent

Advances growth QoQ

9 percent

Deposits growth YoY

20.7 percent

Deposits growth QoQ

5.8 percent

FCNRB deposits

10.62 billion dollars

Heard on business television between 15:47:18 - 15:50:18 IST.

• Axis Bank reported advances growth of around 23% year-on-year and 9% quarter-on-quarter.
• Deposits grew 20.7% year-on-year and 5.8% quarter-on-quarter, with a meaningful part from 10.62 billion dollars of FCNR(B) deposits; core business grew around 19% excluding this.
• CASA ratio slipped to around 36.5%, seen as a weaker point.
• Goldman Sachs has a buy rating with a target of 1,477; Citi has a buy rating with a target of 1,620.
• Brokerages' common view is that the worst of cyclical headwinds is behind Axis, with retail, SME and mid-corporate growth expected to support a recovery in core earnings.

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