S&P Credit Research



Title:

Summary: Axis Bank Ltd.

Price:$175.00
Publication Date:Apr 29, 2008
Report Type:Summary
Abstract:The counterparty credit ratings on India's Axis Bank Ltd. take into account the bank's sound funding profile, the significant and growing contribution of fee income to operating revenues, and its adequate capitalization. Axis' asset quality is adequate but vulnerable to deterioration with declining credit expansion, especially with the slowing growth of the Indian economy. The ratings also take into account the bank's adequate liquidity position. Axis' strong retail franchise stems from its brand equity and, coupled with the use of multiple delivery channels such as branches, ATMs, and Internet, results in a high contribution of savings and current deposits to aggregate funding. Savings and current deposits, which are inherently low cost and stable, made up 46% of the bank's deposit
Ticker:UTIB@IN
Issuer:Axis Bank Ltd.
Sector:Global Issuers, Financial Institutions
Country:India
Region:Emerging Markets
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S&P Credit Research

S&P Credit Research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

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