Axis Bank reports 51 % QoQ growth in the Net Profit

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The Board of Directors of Axis Bank Limited approved the financial results for the quarter and half year ended 30th September 2020 at its meeting held in Mumbai on Wednesday, 28th October 2020.

The Accounts have been subjected to a Limited Review by the Bank’s Statutory Auditors. The last quarter saw a variety of initiatives from Axis Bank, to augment customer and employee experience. With technology breaking physical boundaries, Axis Bank introduced a Full Power Digital Savings Account that can be opened instantly with Video KYC.

To cater to the ever-changing lifestyle needs of the Indian youth, the Bank launched ‘Liberty Savings Account’, a first-of-its-kind savings account that offers complimentary hospital cash insurance of up to Rs.20,000 per year, covering all hospital expenses incurred under Covid-19. Axis Bank has also taken the lead in redefining conventional employment with GIG-A-Opportunities, a new platform to provide growth along with flexibility, diversity and inclusivity.

It has received phenomenal response – with over 56,000 applications so far, of which 45% applicants are women and 40% are from non-metro cities with diverse profiles. The Bank has joined hands with industry leaders to provide best-in-class solutions. It has partnered with Maruti Suzuki India Limited to offer a variety of EMI schemes to ease the liquidity and repayment stress of customers, and with Bayer’s Better Life farming initiative to offer holistic, cost-effective financial solutions to rural farming communities.

The latest ‘Dil Se Open Celebrations’ launched by the Bank has offers on more than 1,00,000 products from well-known brands, reward points, special interest rate for home loans and benefits on rural products like Agri loans, MSME business solutions etc.

Amitabh Chaudhry, MD&CEO, Axis Bank said “The last quarter was an extremely fulfilling one. Keeping the customer journey at the centre of all our innovations and solutions, we came up with some great initiatives to suit the current times. We have now gone to the next level of digital with Video KYC and other tech-enabled solutions like the AXAA multilingual BOT. As we look forward to an upbeat festive season, we have ensured that our ‘Dil Se Open Celebrations’ have something for everyone.”

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