Axis Bank Latest Updates

Financial Performance Axis Bank's Q1 FY26 net profit declined by 4% to ₹5,806 crore. This was primarily due to higher provisions, which were a result of a "technical impact" from internal changes in how the bank classifies non-performing assets (NPAs). Despite the profit dip, the bank's operating profit grew by 14% year-on-year, driven by a 25% surge in non-interest income. Leadership and Board Neeraj Gambhir has been appointed as an Executive Director at Axis Bank. His appointment is pending approval from the Reserve Bank of India. This change follows the retirement of Rajiv Anand from his position as Deputy Managing Director of the bank. Anand has since been named the new CEO and MD of IndusInd Bank, effective in late August 2025. New Product Axis Bank has introduced a new security feature for its customers called 'Lock FD'. This feature is designed to protect fixed deposits from digital fraud by preventing premature withdrawals through online banking channels. To close a locked FD, a customer must now visit a physical branch for in-person identity verification.