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India's third-largest private bank, offering retail, corporate and investment banking after acquiring Citi's India retail arm.
India's third-largest private bank, offering retail, corporate and investment banking after acquiring Citi's India retail arm.
Earns mainly from the gap between loan and deposit rates, with fees from cards, payments and wealth products, plus subsidiaries in asset management, brokerage and lending. It began as UTI Bank in the 1990s, set up by state-linked financial institutions, and took the Axis name in 2007.
In one line: India's Citizens Financial for regional retail banking.
Moat: narrow (scale, brand, distribution). Large branch network and the acquired Citi retail book add scale, though it trails HDFC/ICICI on funding cost.
Headquarters: Mumbai, India · Founded: 1993 · Employees: 101,337
Size Axis Bank (AXISBANK.NS) is an India Financials company (Major Banks) with a market value of $43.6B, the 17th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹1,323 on 6 Nov 2026.
Performance Over six months the shares gained 2.3%, against +5.5% for the median peer and 0.0% for the India market (cap-weighted) — 7th lowest of 21 in its peer set.
Growth Revenue grew 7.4% over the last twelve months (peer median +3.4%); the operating margin is 40.8% (peer median 39.2%).
Valuation It trades at 1.78× book value against a peer median of 1.58× (7th most expensive of 21).
Price implies The share price implies a return on equity of about 25.1%; Axis Bank delivers 13.9%, so the price asks more than the business earns today.
Credit Axis Bank has 1 bond outstanding ($300M), rated BBB by the agencies and trading like BBB at a weighted spread of 90 bp.
Next results Next results expected around 25 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹1.71T | ₹1.63T | ₹1.55T | ₹1.38T | ₹1.06T |
| Revenue growth | — | +5% | +13% | +30% | — |
| Net income | ₹300B | ₹264B | ₹281B | ₹264B | ₹108B |
| Free cash flow | n/a | ₹489B | ₹453B | ₹465B | ₹405B |
| Capital expenditure | n/a | ₹22.1B | ₹24.5B | ₹23.9B | ₹13.9B |
| Total debt | ₹3.24T | ₹3.34T | ₹2.71T | ₹2.77T | ₹2.48T |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| Axis Bank AXISBANK.NS | $43.6B | +2% | +7% | 14% | 1.78× | 25.1% |
| HDFC Bank HDFCBANK.NS | $129B | -1% | +5% | 14% | 2.00× | 24.8% |
| ICICI Bank ICICIBANK.NS | $119B | +23% | +8% | 16% | 2.89× | 36.7% |
| Kotak Mahindra Bank KOTAKBANK.NS | $50.5B | +27% | +12% | 12% | 2.45× | 29.5% |
| State Bank of India SBIN.NS | $99.5B | -7% | +6% | 15% | 1.40× | 20.7% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | AXISBANK.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +6.5% | -0.5% | 3rd highest of 21 |
| 6-month return | +2.3% | +5.5% | 7th lowest of 21 |
| Return on equity | 13.9% | 13.8% | 11th highest of 21 |
| Price / book | 1.78× | 1.58× | 7th most expensive of 21 |
| Trailing P/E | 13.8× | 12.3× | 4th most expensive of 21 |
| ROE the price implies | 25.1% | 10.7% | 3rd most demanding of 21 |
| ROE delivered | 13.9% | 14.1% | 10th lowest of 20 |
| Bond spread | 90 bp | 81 bp | 5th widest of 13 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Axis Bank AXISBANK.NS | India | $43.6B | +2% | +7% | 14% | 1.78× | 25.1% | 13.9% |
| Skandinaviska Enskilda Banken SEB-A.ST | Sweden | $42.9B | +20% | -8% | 14% | 1.80× | 9.5% | 13.5% |
| Danske Bank A/S DANSKE.CO | Denmark | $42.4B | +11% | +8% | 14% | 1.68× | 6.1% | 14.1% |
| Swedbank SWED-A.ST | Sweden | $46.0B | +25% | -5% | 14% | 2.09× | 13.2% | 14.3% |
| United Overseas Bank U11.SI | Singapore | $47.6B | 0% | -10% | 10% | 1.23× | 9.2% | 9.8% |
| DNB Bank DNB.OL | Norway | $50.0B | +16% | -8% | 15% | 1.76× | 11.2% | 15.1% |
| Kotak Mahindra Bank KOTAKBANK.NS | India | $50.5B | +27% | +12% | 12% | 2.45× | 29.5% | 11.8% |
| Societe Generale GLE.PA | France | $52.0B | -5% | +9% | 9% | 0.78× | 10.0% | 9.5% |
| PKO Bank Polski PKO.WA | Poland | $36.5B | +18% | -2% | 20% | 2.56× | 31.9% | 20.1% |
| Ping An Bank 000001.SZ | China | $34.4B | +3% | -9% | 9% | 0.48× | 3.6% | 9.0% |
| Svenska Handelsbanken SHB-A.ST | Sweden | $32.6B | +23% | -14% | 12% | 1.68× | 9.0% | 12.2% |
| National Bank of Canada NA.TO | Canada | $59.3B | +4% | +8% | 14% | 2.62× | 20.1% | 14.3% |
| Standard Chartered STAN.L | United Kingdom | $60.9B | +14% | -10% | 13% | 1.37× | 16.9% | 12.8% |
| Huntington Bancshares HBAN | United States | $31.2B | -3% | +24% | 9% | 1.06× | 10.2% | 9.1% |
| Nordea Bank Abp NDA-FI.HE | Finland | $62.3B | +6% | +3% | 15% | 1.77× | 14.6% | 14.9% |
| NatWest NWG.L | United Kingdom | $62.3B | +4% | +3% | 16% | 1.21× | 15.8% | 15.9% |
| BPER Banca BPE.MI | Italy | $30.4B | +2% | +15% | 15% | 1.49× | 18.6% | 14.9% |
| ShinhanGroup 055550.KS | South Korea | $29.2B | -13% | +32% | 9% | 0.78× | 5.2% | n/a |
| Boc Hong Kong 2388.HK | Hong Kong | $67.4B | +13% | -8% | 12% | 1.47× | 8.1% | 11.8% |
| Credicorp BAP | United States | $27.6B | +5% | +24% | 21% | 2.47× | 17.9% | 20.6% |
| Banco Bradesco SA Sponsored ADR Pfd BBD | United States | $27.5B | -32% | +29% | 14% | 0.71× | 6.2% | 14.2% |
Axis Bank has 1 bond outstanding with $300M face value. The agencies rate it BBB; its bonds trade like BBB. Weighted yield 5.48%, a spread of 90 bp over government bonds.