Axis Bank To Issue Bonds Up To Rs 6,000 Crore

Axis Bank’s board has given nod to issue long-term bonds or non-convertible debentures up to Rs 6,000 crore, the bank said in a filing on the BSE.

The bank reported 18.3% growth in net profit for the first quarter of the financial year 2014-15. It had earned a net profit of Rs 1,409 crore in the same quarter of 2013-14 fiscal. The total income of the bank went up to Rs 9,980.47 crore as against Rs 9,059.12 crore in the corresponding period last year.

The net interest income increased to 16% to Rs 3,310 crore from Rs 2,865 crore in the same period last year. But the bank's other income (non-interest revenue) decreased to Rs 1,691 crore as against Rs 1,781 crore in the April-June quarter of FY2013-14.