Interim report
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AXIS/CO/CS/ 469 /2026-27 October 17, 2026 National Stock Exchange of India Limited Exchange Plaza, BSE Limited P. J. Towers, Dalal Street Plot No. C/l , "G " Block Bandra-Kurla Complex Bandra (E), Mumbai -400 051 Fort, Mumbai- 400 001 NSE Symbol: AXISBANK BSE Scrip Code: 532215 Dear Sir/Madam, REF.: DISCLOSURE UNDER REGULATIONS 30, 33 AND 52 OF THE SEBI (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2015 ("SEBI LISTING REGULATIONS") SUB.: OUTCOME OF BOARD MEETING - UNAUDITED FINANCIAL RESULTS OF AXIS BANK LIMITED ("BANK") FOR THE QUARTER AND HALF-YEAR ENDED SEPTEMBER 30, 2026 In reference to our letter no. AXIS/CO/CS/403/2026-27 dated September 17, 2026, and pursuant to Regulations 30, 33, 52 and other applicable provisions of the SEBI Listing Regulations, we hereby inform you that the Board of Directors (the "Board") of the Bank at its meeting held today, i.e., October 17, 2026, has inter alia approved the unaudited standalone and consolidated Financial Results of the Bank (the "Financial Results") for the quarter and half-year ended September 30, 2026. These Financial Results were subjected to limited review by the Joint Statutory Auditors. The Financial Results along with the limited review report thereon issued by M/s. MM Nissim & Co. LLP, Chartered Accountants and M/s. KKC & Associates LLP, Chartered Accountants, Joint Statutory Auditors of the Bank, are enclosed herewith and are also being uploaded on the website of the Bank at www.axis.bank.in . The Board meeting commenced at 09:00 am (1ST) and the results were approved at 12:30 pm (1ST). This is for your information and records . Thanking You. With warm regards , For Axl1 ank Limited tP • Sand Pod Compan ecretary London Stock Exchange Singapore Stock Exchange 8th Floor AXIS House Pandurang Budhkar Marg Worli Mumbai . Maharashtra . India 400025 REGISTERED OFFICE : "Trishul" - 3rd Floor Opp. Samartheswar Temple, Near Law Garden, Ellisbridge, Ahmedabad - 380006 . Telephone No. 079-26409322 Fax No. - 079-26409321 CIN: L6511 0GJ 1993PLC020769 Website - www.axisbank.com j..._AXIS BANK
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1. (a) (b) (c) (d) 2. 3. 4. 5. (i) (ii) 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. (i) (ii) (iii) (iv (a) (b) (c) (d) (v) (vi (vii (vii (ix; (x) (xiJ Axis Bank Umlted Regd. Office: 'Trishul', 3'a floor, Opp. SamartheshwarTemple. Near Law Garden. Ellisbridge. Ahmedabad-380 006. Corporate Office: Axis Bank Limited, Axis House, Pandurang Budhkar Marg, Worli, Mumbai - 400 025. CIN: L65 l l 0GJ l 993PLC0207 69, Phone: 079-66306 l 6 l, Email: shareholders@axis.bank.in UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED 30'" SEPTEMBER, 2026 FOR THE FOR THE FOR THE FOR THE HALF PARTICULARS QUARTER QUARTER QUARTER YEAR ENDED ENDED ENDED ENDED 30.09.2026 30.09.2026 30.06.2026 30.09.2025 (Unaudited) (Unaudited) (Unaudited) (Unaudited) Interest earned (a)+(b)+(c)+(d) 36,418.77 33,985.63 30,970.23 70,404.40 Interest/discount on advances/bills 28,054.43 26,515.74 24,424.20 54,570.17 Income on Investments 7,298.06 6,698.42 5,891.68 13,996.48 Interest on balances with Reserve Bank of India & other inter-bank funds 750.08 450.91 407.91 1,200.99 Others 316.20 320.56 246.44 636.76 Other Income (Refer note 2) 6,530.55 6,735.42 6,624.58 13,265.97 TOTAL INCOME (1+2) 42,949.32 40,721.05 37,594.81 83,670.37 Interest Expended 21,047.35 19,339.53 17,225.68 40,386.88 Operating expenses (i)+(ii) 10,818.89 9,722.42 9,956.60 20,541.31 Employees cost 3,314.43 3,058.00 3,117.63 6,372.43 Other operating expenses 7,504.46 6,664.42 6,838.97 14,168.88 TOTAL EXPENDITURE (4+5) (Excluding Provisions and Contingencies) 31,866.24 29,061.95 27,182.28 60,928.19 OPERATING PROFIT (3-6) 11,083.08 11,659.10 10,412.53 22,742.18 (Profit before Provisions & Contingencies) Provisions (other than tax) and Contingencies (Net) (Refer note 10) 1,693.74 2,222.54 3,547.04 3,916.28 Exceptional Items - - - - Profit/(Loss) from Ordinary Activities before Tax (7-8-9) 9,389.34 9,436.56 6,865.49 18,825.90 Tax expense 2,386.06 2,322.64 1,775.85 4,708.70 Net Profit/(Loss) from Ordinary Activities after Tax (10-11) 7,003.28 7,113.92 5,089.64 14,117.20 Extraordinary Items (net of tax expense) - - - Net Profit/(Loss) for the period (12-13) 7,003.28 7.113.92 5,089.64 14,117.20 Paid-up equity share capital 622.74 622.16 620.58 622.74 (Face value ~2/- per share} Reserves excluding revaluation reserves Analytical Ratios and other disclosures Percentage of Shares held by Government of India Nil Nil Nil Nil Capital Adequacy Ratio - Basel Ill 16.27% 16.67% 16.55% 16.27% Earnings per Share (EPS) for the period/year (before and after extraordinary items) - Basic 22.50 22.88 16.41 45.38 - Diluted 22.38 22.75 16.32 45.13 NPA Ratios Amount of Gross Non Performing assets 16,777.52 17,124.33 17,307.74 16,777.52 Amount of Net Non Performing assets 5,053.79 5,192.56 5,113.86 5,053.79 % of Gross NPAs 1.16 1.28 1.46 1.16 %of Net NPAs 0.35 0.39 0.44 0.35 Return on Assets (annualized) % 1.38 1.51 1.23 1.44 Net worth 2, 10,502.14 2,03,434.64 1,83,692.89 2, 10,502.14 Outstanding Redeemable Preference Shares Nil Nil Nil Nil Capital Redemption Reserve Nil Nil Nil Nil Debentures Redemption Reserve NII NII NII NII Debt- Equity Ratio• 1.25 1.12 1.05 1.25 Total Debts to Total Assets 13.35% 12.35% 11.90% 13.35% • Deb1 represents total borrowings; Equity represents total of share capital and reserves. Ulnc.ro111Sl FOR THE HALF FOR THE YEAR ENDED YEAR 30.09.2025 ENDED 31.03.2026 (Unaudited) (Audited) 62,033.74 1,27 ,032.23 48,832.30 99,508.19 12,034.63 25,299.80 715.55 1,273.50 451.26 950.74 13,882.64 26,130.85 75,916.38 1,53, 1 63.08 34,729.44 70,984.19 19,259.25 39,362.08 6,379.38 12,265.92 12,879.87 27,096.16 53,988.69 l, 10,346.27 21,927.69 42,816.81 7,494.70 13,262.83 - 14.432.99 29,553.98 3,537.21 5,097.32 10,895.78 24,456.66 - - 10,895.78 24,456.66 620.58 621.63 2,03,572.63 Nil Nil 16.55% 16.42% 35.14 78.82 34.95 78.31 17,307.74 16,083.65 5,113.86 4,789.59 1.46 1.23 0.44 0,37 1.35 1.45 1,83,692.89 1,96,039.77 Nil Nil Nil Nil Nil NII 1.05 1.15 11.90% 12.47%
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Notes : 1. Sta1ement of Assets and Liabilities is given below: (t In crores) Parffculars As on 30.09.2026 As on 31.03.2026 .As on 30.09.2025 (Unaudited} {Audited) IUnaudlledl CAPITAL AND LIABILITIES Capital 622.74 621.63 620.58 Employees' Stock Options Outstanding l.368.81 l.342.16 1.193.79 Reserves and Surplus 2,18,126.61 2.03,572.63 1,89,326.58 Deposits 14,52,066.21 13,35,833. 97 12,03,486.91 Borrowings 2,73,085.52 2,35,270.61 1,99,506.02 Other Liabilities and Provisions l.00.970.14 1,10,208.88 82,480.47 TOTAL 20,46,240.03 18,86,849.88 16,76,614.35 ASSETS Cash and Balances with Reserve Bank of India 82,241.72 78,627.36 63,842.56 Balances with Banks and Money at Call and Shorl Nolice 44,311.20 26,275.32 19,392.94 Investments 4,53,464.34 4,45,032.80 3, 91 ,850.80 Advances 13, 73,726.80 12,33,569 .88 1 I. 1 6, 703.0l Fixed Assets 6,640.02 6,549.36 6,413.46 Other Assets 85,855.95 96,795.16 78,411.58 TOTAL 20,46,240.03 18,86,849.88 16,76,614.35 2. 'Other income' includes profit/loss from inves1ments (including revaluation), earnings from foreign exchange and derivative transactions. commission earned from guaranlees/letters of credit, fees earned from providing services to customers, selling of third party products etc. 3. During the quarler and half year ended 30th September 2026, the Bank allotted 29, 11,611 and 55,17,102 equity shares respectively pursuant to the exercise of options/ units under its Employee Sieck Option/ Units Scheme. 4. Details of resolulion plans implemented under the RBI Resolution Framework tor COVID-19 related stress as per RBI circular dated 6th August 2020 (Resolution Framework 1.0) and 5th May 2021 (Resolution Framework 2.0) as on 30th September 2026 are given below: Type of borrower Personal loans 3 Coroorate per.;ons ot which MSMEs others Total I~ Represents fund based outstandmg balance OI standard accounls 2 Represen1s net movement in balance oulstanding J~ Personal loans represents relail advances Exposure to accounts classlflltd a'S Standord consequent to lmplementaffon ot resolutton plan - PosJHon as at 31.3.2026 (A) 1 814.16 144.16 958.32 If In croros) Of (A), aggregate Exposure to accounts cla .. lfled as Sta·ndard consequent to debt that paid by the slipped Into written off borrowers lmplementaHon of NPA during during HI during HI resolutlon plan - Hl FY27 FY27 FY272 Position as at 30.9.2026 1 4.19 3.75 70.52 735.70 - 1] 7.201 161.36 - . - - 4.19 3.75 53.32 897.06 5. Details ot loans not in default and stressed loans (NPA and SMA accounts) acquired and transferred during the halt year ended 30th September 2026 under .the RBI Guidelines are given below: a) Delc,15 al loon, nol In defa u/1 acawed from other en1mes· Particulars Mode of acquisition Aggregate principal outstanding of loans acquired Weighted average residual maturity Weighled average holding period Retention of beneficial economic interest by the originator Coverage ot tangible security (for secured loans) Roting-wise distribution• of loans acquired by value - A- and Above • BBB- and BBB+ b) Details of loans not in default transferred to other entities· Partlculars Mode ot transfer Aggregate principal oulslanding ot loans transferred Weighted average residual maturity Weighled average holding period (tor assignmenl lransaclions) Re1ention of beneficial economic interest Coverage of tangible security (for secured loans) Rating-wise distribu1iont of loans transferred by value - A- and Above -BBB+ -SME3 .-1m:h.ld01 lOom. IJfldG'f :1-ync:Ueollon # Represents internal rating Corporate segment Retail segment Assignment and Novatio n Assignment , l.469 .12 crores ,2.855.53 crores 4.91 years 9.83years. Nol Applicable Not Applicable Not Applicable 10% 100% secured Weighted average LTV -53% 96% Not Applicable 4% Not Applicable Corporate segment- Retail segment Assignment and Novation . ,12,376.31 crores Not Applicable . 0.34years . Nil . I 00% secured . 94% 4% 2%
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c) The Bank has not acquired any stressed loons INPA and SMA accounts) during the half year ended 30'" Seplember 2026. d) The details of stressed loans transferred I excluding prudentially wrilten off accounts) during fhe half year ended 30'" September 2026. (f In crores except number of accounts) Particulars To ARCs To pormllted han sferoos To other transferees NPA SMA NPA SMA NPA SMA No. of accounts 12 . . . Aggregate principal outstanding of loons transferred t 27.16 . . Weighted overage residual tenor of the loans transferred N.A. . Net book value of the loans transferred !al the time of t0.16 . . . . transfer) Aggregate consideralion H.96 . Excess provision reversed to lhe profit and loss account H.80 - Additional consideration realized in respect of accounts . lransferred in earlier years e) The Bank has not made any investment in Security Receipts during fhe half year ended 30'" September 2026. Details on recovel)' ratings assigned lo Security Receipts as on 30th September 2026: Anticipated recovery as Net Book Value Outstanding Recovery raHngs per recov&ry raffng (%) (f In crores) Redempffon Value If In croresl RRI+ RRl 121 9.20 9.20 RRl 127 45.02 45.02 RRl+ 332 . . RRl 100 101.81 639.05 RRl 109 154.09 154.09 RRl 150 19.99 19.99 Total 330.11 867.35 6. Details of project under implementation as per Reserve Bank of India (Commercial Banks - Financial Statemenls : Presentation and Disclosures) Directions, 2025 doted 28th November 2025 is given below: Sr. No Parffculars I Projects under implementation accounts at the beginning of the quarter I. I Movement in balances in Q2 FY27 for projects under implementalion at the beginning of the quarter 2 Projects under implementation accounts sanclioned during the quarter 2.1 Projeds under implementalion accounts closed during the quarter 3 Projecls under implemenlation accounts where DCCO has been achieved during the quarter 4 Projecfs under implementation accounls al lhe end of lhe quarter 11 + 1.1 +2-2.1-3) 5 Out of '4', Accounts in respect of which resolution process involving extension in original/extended DCCO. as the case may be has been invoked 5.1 Accounts in respecl of which Resolution plan has been implemented 5.2 Accounts in respect of which Resolu1ion plan is under implementation 5.3 Accounts in respect of which Resolution pion hos failed 6 Out of '5'. accounts in respect of which resolution process involving extension in original/extended DCCO . as the case may be has been invoked due lo change in scope and size of the projecf 7 Out of '5', account in respect of which cost overrun associated with extension in original/extended DCCO. as the case may be. was funded 7.1 Accounts where SBCF was sanctioned during financial closure and renewed continuously 7.2 Accounts where SBCF was not pre-sanctioned or renewed continuously 8 Out of '4', accounts in respect of which resolution process not involving extension in original/extended DCCO. as the case may be has been invoked 8.1 Accounts in respect of which Resolution plan has been implemented 8.2 Accounts in respecl of which Resolu1ion plan is under implementation 8.3 Accounts in respecf or which Resolution plan has failed 1 reported values (number ol accounls and arass autslondmQ of loans) exclude prudentially wullen oll coses 2 repr~enls s::iross oulslandinQ of loans Number 10raI outsrandlng of accounts 1 (f In crores) 1'2 905 22,698.17 3,329.89 172 l.904.28 65 768.53 183 2,003.23 829 25. 160.5B 114 3,663.05 107 2,957.29 7 705.76 . II 345.65 8 l.554.96 . 8 l.554.96 . . . . . I \
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7. The disclosure related lo Co-Lending Arrangements (CLAs) on an aggregate basis as per Reserve Bank of India (Commercial Bank - Transfer and Distribution of Credit Risk) Directions, 2025 dated 261h November , 2025 is given below : Sr. No ParHculars As on 30m September 2026 (P In crortt.sl I Quonlum of CLAs - Number of CLA partners 2 - Number of outstanding cases (No.) 702 - Aggregate outstanding (t) 18.56 2 Weighted average rate of Interest ('.II;) 16.60% 3 Fees paid during the quarter NTI 4 Fees charged during the quarter N,I 5 Brood sectors in which CLA was made Gold Loan and Personal Loon 6 Performance of loans under CLA - Standard loons 18.56 • Non-performing loans NU 7 Details related to default loss guarantee (if any) NII No1e: Above disclosure represents position of Cl.As with outstanding balance as on 30th September 2026 end based on the Bank's share in Cl.A. 8. As on 301h September 2026, the Bank has 10 subsidiaries, 2 step-down subsidiaries and 1 associate. 9. During the quarter, the Bank infused equity capital of t25.49 crores in Freecharge Business and T echnalogy Services Limited, a wholly-owned subsidiary ofthe Bank. • 10. During the year ended 31'1 March 2026, following an RBI advisory, post its FY25 annua l inspection. the Bank in Q2FY26 made an additional one-time standard asset provision of ~ 1,231 crores for declassified PSL loans. The customer terms remain unchanged. This provision will be written back lo the P &L upon all the declassified loans being made compliant , recovered or closed in the normal course, no later than 31 '1 March 2026. No divergence in asset quality or NPA provisioning was identified in the said annual inspection . 11 . The above results have been approved by the Board of Directors of the Bank at its meeting held today. 12. These results for the quarter and half year ended 301h September, 2026 have been subjected to a "Limited Review" by the joint statutory auditors - M M Nissim & Co LLP. Chartered Accountants and KKC & Associates LLP. Chartered Accountants who have issued an unmodified review report thereon. 13. Previous period figures have been regrouped and reclassified, where necessary, to make them comparable with current period figures.
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Axis Bank Limited UNAUDITED STANDALONE CASH FLOW STATEMENT FOR THE HALF YEAR ENDED 30'" SEPTEMBER, 2026 (f in crores) FOR THE FOR THE FOR THE PARTICULARS HALF YEAR YEAR HALF YEAR ENDED ENDED ENDED 30,09,2026 31.03,2026 30.09,2025 (Unaudited) (Audited) (Unaudited) Cash flow from operating activities Net profit before taxes 18,825.90 29,553,98 14,432.99 Adjustments for: Depreciation and amortisation on fixed asset,, Intangibles and goodwill 960.26 1,808.98 879.23 Mark-to-Market (gain)/loss on investments (332.20) 875.27 (130.721 Amortisation of premium/discount on investments 343.89 930.92 425.53 Provision for Non-Performing Assets (including bad debtsJ/restruclured assets 5,574.31 13,027.99 7,578.53 Provision on standard assets and other contingencies 273.73 3,777.02 1,461.70 Profil/(LossJ on sale of land, buildings and other assets (net) (1.091 (3.531 (3.65) Dividend from Subsidiartes (15.001 (15.001 (15.00) Employee Stock Options Expense 221.24 443.58 219.23 Adjustments for: (lncrease)/Decrease in investments 43,083.65 (7,377.96) 23,529.31 (lncrease)/Decrease in advances (l,45,641.761 (2.05,718.871 (83,461.56) Increase /(Decrease) in deposits 1, 16,232.24 1,62,881.95 30,534.88 (lncrease)/Decrease in other assets 10,768.03 (28,120.341 (11,387.38) lncrease/(DecreaseJ in other liabilities & provisions (9,866.61 I 33,824.23 7,487.17 Direct taxes paid (4,224.75) (7,218.311 (3,166.781 Net cash flow generated/(used) from operating activities 36,201.84 (1,330.09) (11,616.52) Cash flow from Investing activities Purchase of fixed assets (1,061.58) (2,118.00) (1,012.68) (Increase I/Decrease in Held to Maturtty investments (49,688.96) (43,757.32) (19,534.56) Increase in Investment in Subsidiartes/ Associates (1,905.361 (30.00) {30.00) Decrease in Investment in Subsidiartes/ Associates 135.00 0.00 - Proceeds from sale of fixed assets 9.75 47.99 7.45 Dividend from Subsidiaries 15.00 15.00 15.00 Net cash generaled/(used) In Investing activities (52,496 .15) (45,842.33) (20,554.79) Cash !low from financing activities Proceeds from issue of subordinated debt, Additional TTer I instruments 5,749.52 . . Repayment of subordinated debt, Additional TTer I instruments (8,110.10) (852.75) (1,215.301 lncrease/(DecreaseJ in borrowings (excluding subordinated debt, Additional TTer I instruments (net)! 40,175.50 51,976.84 16,574.81 Proceeds from issue of share capital 1.10 2.16 1.10 Proceeds from share premium (net of share issue expenses) 343.20 678.72 333.74 Payment of dividend (311.091 (310.141 (310.14) Net cash generated/(used) from financing activities 37,848.13 51,494.83 15.384.21 Effect of exchange fluctuation translation reserve 96.42 848.17 290.50 Net lncrease/(decrease) In cash and cash equivalents 21,650.24 5,170.58 ( 1 6.496.601 Cash and cash equivalents at the beginning ol the year 1,04, 902.68 99,732.10 99,732.10 Cash and cash equivalents at the end ot the period/ year 1,26,552. 92 1,04, 902.68 83,235.50 Note : Previous period figures have been regrouped and reclossl~ 1e ne;~ o make them ~e~~ current period figures. ~ FRN: 'i 0-'=' Oc;<9 I~ 107122W/, *\ 'l:)- '0 l ~ W100672 rJJ I u rtered Vl ) t~MUMBAI ~ I~ Ac untants -ff ~cDAcco~ *
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1 A B C D E 2 A B C D E 3 A B C D E 4 A B C D E 5 6 Notes: Segment Revenue Treasury Corporate/Wholesale Banking Retail Banking a} Digital Banking b/ Other Retail Banking Other Banking Business Unallocated Total Less : Inter segment revenue Income from Operations Segment Results Aller Provisions & Before Tax Treasury Corporate/Wholesale Banking Retail Banking a/ Digital Banking b} Other Retail Banking Other Banking Business Unallocated Total Profit Before Tax Segment Assets Treasury Corporate/Wholesale Banking Retail Banking a) Digital Banking b/ Other Retail Banking Other Banking Business Unallocated !Total Segment Llabllltles Treasury Corporate/Wholesale Banking Retail Banking a} Digital Banking b/ Other Retail Banking Other Banking Business Unallocated Total Capita! and Other Reserves Total (4 + 5) Axis Bank limited Segmental Results FOR THE FOR THE QUARTER QUARTER ENDED ENDED 30.09.2026 30.06.2026 (Unaudited) (Unaudited) 8,959.32 8,487.17 14,716.89 14,167.50 40,974.70 38,269.30 I t,165.29 10,627.32 29,809.41 27,641.98 l.243.47 915.57 12,54 - 65,906.92 61,839.54 22,957.60 21,118.49 42,949.32 40,721.05 1,270.29 1,663.85 2,743.54 3,358.26 4,244.63 3,565.52 1,577.15 1,531.43 2,667.48 2,034.09 1,118.34 848.93 12.54 - 9,389.34 9,436.56 6,39,133.19 6,26,906.76 6,51,605.00 5,98,488.96 7.45,922.80 6,86,713.79 1,62,609. 95 l .5i578.30 5,83,312.85 5.33, 135.49 1,099.72 1,064.84 8.479.32 8,791.82 20,46,240.03 19,21,966.17 3,57,355.36 3,32,810.15 2,38,7 64.44 2,37 ,696.6 l 12,22,720.60 11,31,328.33 2,40,290. 97 2.30,504.61 9.82.429.63 9,00,823.72 61.58 37.07 8,588.70 8,400.62 18,27,490.68 17,10,272.78 2, 18,749.35 2. 11,693.39 20,46,240.03 19,21,966.17 FOR THE FOR THE HALF QUARTER YEAR ENDED ENDED 30.09.2026 30.09.2025 (Unaudited) (Unaudited) 7.418.66 17.446.49 11,949.94 28,884.39 35,738.58 79,244.00 9,803.72 21.792.61 25,934.86 57,451.39 1,166.30 2,159.04 7.86 12.54 56,281.34 1,27,746.46 18,686.53 44,076.09 37,594.81 83,670.37 1,329.36 2,934.14 2,841.89 6,101.80 1,615.32 7,810.15 1,026.17 3,108.58 589.15 4.701.57 1,071.06 1,967.27 7.86 12.54 6,865.49 18,825.90 5,26,203.69 6,39,133.19 4,89,176.90 6,51,605.00 6,53,611.19 7.45. 922.80 1,38,060.67 1,62,609. 95 5, 15,550.52 5,83,312.85 775.98 1,099.72 6,846.59 8.479.32 16,76,614.35 20,46,240.03 2,87.477.79 3.57 .355.36 2.20,305.89 2.38,7 64.44 9,70.440.63 12.22,720.60 I, 99,003.62 2,40,290. 97 7,71,437.0 I 9,82.429.63 66.38 61.58 8,376.50 8,588.70 14,86,667.19 18,27,490,68 1,89,947.16 2,18,749.35 16,76,614.35 20,46,240.03 In accordance wi1h RBI Master Diredion, the Bonk has presented 'Digital Banking' as a sub~segment of the Retail Banking segment. Previous period figures have been regrouped and reclassified, where necessary, lo make them comparable with current period figures. (f in croresJ FOR THE HALF FOR THE YEAR ENDED YEAR 30.09.2025 ENDED 31.03.2026 (Unaudited) (Audited) 15,838.38 30.409.97 23.756.65 49,329.20 71.370.18 l ,45,093.82 19,209.08 39,655.73 52,161.10 1,05,438.09 2,202.51 4,908.03 29.12 63.57 1,13,196.84 2,29,804.59 37,280.46 76,641.51 75,916.38 1,53, 163.08 3,752.68 5,036.68 5,579.10 11,205.92 3,051.19 8,607.32 1,602.62 4,255.03 1,448.57 4,352.29 2,020.90 4,640.49 29.12 63.51 14,432.99 29,553.98 5,26,203.69 6, 19,567.76 4,89,176.90 5,71.029 .14 6,53,61 l.19 6,86,599 .21 1.38.060.67 1,48, 123.32 5, 15,550.52 5,38,475.89 775.98 1,084.10 6,846.59 8,569.67 16,76,614.35 18,86,849.88 2,87.477.79 3.42,691.86 2,20,305.89 2,54.472.26 9 ,70.440.63 10,77,946.76 , . 99,003.62 2, 19.472.46 7,71,437.0 I B,58.47 4.30 66.38 48.50 8,376.50 7,496.24 14,86,667.19 16,82,655.62 1,89,947.16 2,04, 194.26 16,76,614.35 18,86,849.88
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Axis Bank Umlled Group UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED 301" SEPTEMBER, 2026 (f In crores) FOR THE FOR THE FOR THE FOR THE FOR THE FOR THE YEAR PARTICULARS QUARTER QUARTER QUARTER HALF YEAR HALF YEAR ENDED ENDED ENDED ENDED ENDED ENDED 31.03.2026 30.09.2026 30.06.2026 30.09.2025 30.09.2026 30.09.2025 (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Audited) 1. Interest earned (a)+(b)+(c)+(d) 38,087.48 35,541.96 32,309.77 73,629.44 64,658.08 1,32,538.24 (a) Interest/discount on advances/bills 29,628.25 27,974.40 25,682.07 57,602.65 51,285.02 1,04,657 .82 (b) Income on Investments 7,330.10 6,732.38 5,921.71 14,062.48 12,107.51 25,443.75 (c) Interest on balances with Reserve Bank of 750.09 450.91 407.91 1,201.00 715.55 1,273.50 India and other inter-bank funds (d) Others 379.04 384.27 298.08 763.31 550.00 l, 163.17 2. Other Income 7,586.89 7,670.86 7,460.08 15,257.75 15,512.77 29,673.71 3. TOTAL INCOME (1+2) 45,674.37 43,212.82 39,769.85 88,887.19 80,170.85 1,62,211.95 4. Interest Expended 21,932.93 20,214.70 17,971.47 42,147.63 36,210.16 74,074.99 5. Operating expenses (i)+(i,i) 11,632.33 10.499.37 10,659.89 22,131.70 20,608.31 42,226.41 (i) Employees cost 3,824.11 3.529.99 3,535.50 7,354.10 7,187.15 14,006.05 (ii) Other operating expenses 7,808.22 6,969.38 7,124.39 14,777.60 13,421.16 28,220.36 6. _TOTAL EXPENDITURE (4+5) (Excluding Provisions 33,565.26 30,714.07 28,631.36 64,279.33 56,818.47 1, 16,301.40 and Contingencies) 7. OPERATING PROFIT (3-6) 12,109.11 12,498.75 11,138.49 24,607.86 23,352.38 45,910.55 (Profit before Provisions & Contingencies) 8. Provisions (other than tax) and Contingencies 1,757.46 2,337.47 3,642.55 4,094.93 7,676.74 13,617.08 (Net) (Refer note 7) 9. Exceptional Items - - - . - - 10. Profit/(Loss) from Ordinary Activities before Tax (7- 10,351.65 10,161.28 7,495.94 20,512.93 15,675.64 32,293.47 8-9) 11. Tax expense 2,701.95 2,504.77 1,938.43 5,206.72 3,857.96 5,799.65 12. Net Profit/(Loss) from Ordinary Activities after Tax 7,649.70 7,656.51 5,557.51 15,306.21 11,817.68 26,493.82 (10-11) 13. Extraordinary Items (net of tax expense) - . . . . - 14. Net Profit/(Loss) for the period ( 12-13) 7,649.70 7,656.51 5,557.51 15,306.21 11,817.68 26,493.82 15. Share in Profit/(Loss) of Associate 16.24 13.86 9.05 30.10 28.37 54.09 16. Share of (Profit)/Loss of Minority Shareholders 38.73 (38.06) (38.71) 0.67 (74.48) (163.06) 17. Consolidated Net Profit/(Loss) for the Group 7,704.67 7,632.31 5,527.85 15,336.98 11,771.57 26,384.85 (14+15+16) 18. Paid-up equity share capital 622.74 622.16 620.58 622.74 620.58 621.63 (Face value ~2/- per share) 19. Reserves excluding revaluation reserves 2,12,957.29 20. Analytical Ratios and other disclosures (i) Percentage of Shares held by Government of Nil Nil Nil Nil Nil Nil India (ii) Earnings per Share (EPS) for the period/year (before and after extraordinary items) . Basic 24.76 24.55 17.82 49.30 37.97 85.04 . Diluted 24.63 24.41 17.72 49.03 37.75 84.48
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Notes: 1. Consolidated Statement of Assets and Liabilities is given below : {fin crores) Particulars As on 30.09.2026 As on 31.03.2026 As on 30.09.2025 (Unaudited} (Audited} (Unaudited} CAPITAL AND LIABILITIES Capital 622.74 621.63 620.58 Employees' Stock Options Outstanding 1,508.34 1,456.43 1,284.02 Reserves and Surplus 2,29,042.49 2, 12,957.29 1,97,638.87 Minority Interest 1,241.26 798.19 709.62 Deposits 14,50,287 .83 13,33,791.44 12,01 ,655.60 Borrowings 3,24,487 .88 2,80,510.62 2,40,841 .49 Other Liabilities and Provisions 1 ,08, 139 .53 1,15, 914.69 87,358.48 TOTAL 21, 15,330.07 19,46,050.29 17,30,108.66 ASSETS Cash and Balances with Reserve Bank of India 82,241.79 78,627.37 63,842.64 Balances with Banks and Money at Call and Short Notice 51,480.63 30,724.20 23,375.55 Investments 4,53,434.16 4,46,422.18 3,92,986.25 Advances 14,31,452.73 12,82,392.17 11 ,61 ,625.7 4 Fixed Assets 6,858.75 6,756.03 6,620.40 Other Assets 89,572.77 1,00,839 .10 81,368.84 Goodwill on Consolidation 289.24 289.24 289.24 TOTAL 21, 15,330.07 19,46,050.29 17,30, 108.66 2. The above results represent the consolidated financial results of Axis Bank Limited and its subsidiaries & associate. As on 30th September 2026, the Bank has l O subsidiaries, 2 step-down subsidiaries and l associate. 3. The above results are prepared in accordance with the principles set out in Accounting Standard 21 - Consolidated Financial Statements and Accounting Standard 23 - Accounting for Investments in Associates in Consolidated Financial Statements as notified under Section 133 of the Companies Act, 2013. 4. During the quarter, the Bank infused equity capital of ~25.49 crores in Freecharge Business and Technology Services Limited, a wholly-owned subsidiary of the Bank. 5. The financial results of certain subsidiaries have been prepared in accordance with notified Indian Accounting Standards ('Ind-AS') with effect from 1st April 2018. The financial results of such subsidiaries used for consolidation are special purpose financial information prepared in accordance with Generally Accepted Accounting Principles in India ('GAAP') specified under section 133 of the Companies Act, 2013 read together with paragraph 7 of the Companies (Accounts) Rules, 2014 and the Companies (Accounting Standards) Amendment Rules, 2016. 6. In accordance with RBI guidelines, banks are required to make Pillar 3 disclosures including leverage ratio and liquidity coverage ratio and Net Stable Funding Ratio (NSFR) under the Basel Ill framework. These disclosures would be available on Bank's website at the following link: https://www.axis.bank.in/shareholders-corner/regulatory disclosure/basel-lll-disclosures. The disclosures have not been subjected to audit or limited review by the joint statutory auditors of the Bank. 7. During the year ended 31 st March 2026, following an RBI advisory, post its FY25 annual inspection, the Bank in Q2FY26 made an additional one-time standard asset provision of ~1.231 crores for declassified PSL loans. The customer terms remain unchanged. This provision will be written back to the P&L upon all the declassified loans being made compliant, recovered or closed in the normal course, no later than 31 st March 2028. No divergence in asset quality or NPA provisioning was identified in the said annual inspection. 8. The above results have been approved by the Board of Directors of the Bank at its meeting held today. 9. These results for the quarter and half year ended 30th September, 2026 have been subjected to "Limited Review" by the joint statutory auditors - M M Nissim & Co LLP, Chartered Accountants and KKC & Associates LLP, Chartered Accountants who have issued an unmodified review report thereon. l 0. Previous period figures have been regrouped and reclassified, where necessary, to make them comparable with current period figures.
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Axis Bank Limited Group UNAUDITED CONSOLIDATED CASH FLOW STATEMENT FOR THE HALF YEAR ENDED 30TH SEPTEMBER 2026 lt in crores) FOR THE FOR THE FOR THE PARTICULARS HALF YEAR YEAR HALF YEAR ENDED ENDED ENDED 30.09.2026 31 .03.2026 30.09.2025 (Unaudited) (Audited) (Unaudited) Cash flow from operating activities Net profit before taxes 20,513.60 32,130.41 15,601.16 Adjustments for: Depreciation and amortisation on fixed assets, intangibles and goodwill 1,007.59 1,892.93 918.99 Mork-to-Market (goin)/loss on investments (332.20) 875.28 (130.70) Amortisation of premium on Held to Maturity investments 343.89 930.92 425.53 Provision for Non-Performing Assets (including bod debts)/restructured assets 5,746.77 13,350.18 7,741.68 Provision on standard assets and other contingencies 307.91 3,856.56 1,497.64 Profit/(Loss) on sole of land, buildings and other assets (net) (1.06) (3.79) (3.84) Employee Stock Options Expense 246.49 483.38 234.98 Adjustments for: (lncreose)/Decreose in investments 43,143.57 (8,199.98) 22,935 .50 (lncreose)/Decreose in advances (1,54,717.86) (2, 14,445.20) (88,129.31) Increase /(Decrease) in deposits 1, 16,496.40 1 ,62,870 .54 30,734.71 (lncreose)/Decreose in other assets 11,122.45 (29,455.57) ( 11,652.53) lncreose/(Decreose) in other liabilities & provisions (8,993.14) 34,013.91 6,873.37 Direct taxes paid (4,172.45) (6,936.28) (2,486.58) Net cash flow generated/(used) from operating activities 30,711.96 (8,636.71) (15,439.40) Cash flow from investing activities Purchase of fixed assets (1,123.11) (2,210.00) (1,059.58) (lncreose)/Decreose in Held to Maturity investments (49,688.96) (43,757.32) (19,534.56) Increase in investment in Associate (380.60) - - Proceeds from sole of fixed assets 11.84 50.02 8.24 Net cash generated/(used) in investing activities (51,180.83) (45,917.30) (20,585.90) Cash flow from financing activities Proceeds from issue of subordinated debt. Additional Tier I instruments 5,749.52 - - Repayment of subordinated debt , Additional Tier I instruments (8,110.10) (852.75) (1,215.30) lncreose/(Decreose) in borrowings (excluding subordinated debt. Additional Tier I 46,337.84 60,676.62 21,370.04 instruments (net)) Proceeds from issue of shore capitol 1.10 2.16 1.10 Proceeds from shore premium (net of shore issue expenses) 1,033.19 678.72 333.74 Payment of dividend (311.09) (310.14) (310.14) Increase in minority interest 42.73 163.06 74.48 Net cash generated/(used) from financing activities 44,743.19 60,357.67 20,253 .92 Effect of exchange fluctuation translation reserve 96.53 849.21 290.87 Net increase/(decrease) in cash and cash equivalents 24,370.85 6,652.87 (15,480.51) Cash and cash equivalents at the beginning of the year _ _._,,..__ 1,09 ,351.57 1,02,698.70 1,02,698.70 Cash and cash equivalents at the end of the period/year ~ SIM& ) ~ !,,:71' ._: :.. 1,09,351.57 87,218.19 I - -..:: U '\.'\. -- Note : Previous period figures have been regrouped and re ~al iified: ll6!Xlere ~~ sory. to ~~~e th ~ ~ ~ ble with current pe • I; 107122Wi-1 * 1 ~ Cit e d--~ , ~~AN~ - n W100672 'fi I i re tJI ) ~ ~ MUMBAI :t- Ace !ants :::: ~ ~ . ~ ~~ 'O I CENTRAL t:, ~'l'E'o ACCiS * OFFICE • ~ * *
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1 Segment Revenue A Treasury B Corporate/Wholesale Banking C Retail Banking ci) Digital Banking b) Other Retail Banking D Other Banking Business E Unallocated Total Less : Inter segment revenue Income from Operations 2 Segment Results After Provisions & Before Tax A Treasury B Corporate/Wholesale Banking C Retail Banking a) Digital Banking b) Other Retail Banking D Other Banking Business E Unallocated Total Profit Before Tax 3 Segment Assets A Treasury B Corporate/Wholesale Banking C Retail Banking a) Digital Banking b) Other Retail Banking D Other Banking Business E Unallocated Total 4 Segment Liabilities A Treasury B Corporate/Wholesale Banking C Retail Banking a) Digital Banking b) Other Retail Banking D Other Banking Business E Unallocated Total 5 Capital and Other Reserves 6 Total (4 + 5) Notes: Axis Bank Limited Group Segmental Results FOR THE FOR THE QUARTER QUARTER ENDED ENDED 30.09.2026 30.06.2026 (Unaudited) CUnauditedl 9,789.26 9,291.74 15,634.00 15,026.97 42,267.52 39,517.11 11,165.29 10,627.32 31,102.23 28,889.79 1,729.26 1,256.85 12.54 - 69,432.58 65,092.67 23,758.21 21,879.85 45,674.37 43,212.82 1,299.33 1,690.16 3,076.41 3,601.14 4,546.46 3,851.40 1,577.15 1,531.43 2,969.31 2,319.97 1,416.91 1,018.58 12.54 - 10,351.65 10,161.28 6,34,927.60 6,22,794.23 6,7.8,246.72 6,24,360.42 7,89,445.76 7,25,645.64 1,62,609.95 1,53,578.30 6,26,835.81 5,72,067.34 4,038.32 4,213.53 8,671.67 8,981.73 21,15,330.07 19 ,85, 995.55 4,02, 133.02 3,74,055.94 2,40,786.00 2,40,436.67 12,33, 148.54 l l ,40,34 1.33 2,40,290.97 2,30,504.61 9, 92,857.57 9,09,836.72 966.92 190.65 8,630.36 9,367.96 18,85,664.84 17,64,392.55 2,29,665.23 2,21,603.00 21, 15,330.07 19,85,995.55 FORTHE QUARTER ENDED 30.09.2025 (Unaudited) 8,115.55 12,726.68 36,761.52 9,803.72 26,957.80 1,523.57 7.86 59,135.18 19,365.33 39,769.85 1,334.23 3,088.66 1,814.88 1,026.17 788.71 1,250.31 7.86 7,495.94 5,23,428.65 5, 11,326.27 6,84,837.70 1,38,060.67 5,46,777.03 3,490.21 7,025.83 17,30, 108.66 3,23,673.89 2,21,609.57 9,77, 142.33 1, 99,003.62 7,78, 138.71 243.12 9,180.30 15,31 ,849.21 1, 98,259.45 17,30, 108.66 I In accordance with RBI Master Direction, the Bonk has presented 'Digital Banking' as a sub-segment of the Retail Banking segment (f in crores) FOR THE HALF FOR THE HALF FOR THE YEAR ENDED YEAR ENDED YEAR 30.09.2026 30.09.2025 ENDED 31.03.2026 runauditedl runauditedl fAuditedl 19,081.00 17,229.10 33,271.81 30,660.97 25,247.46 52,500.54 81,784.63 73,379.91 1.49.401.52 21,792.61 19,209.08 39,655.73 59,992.02 54, 170.83 1,09,745.79 2,986.11 2,891.46 6,332.84 12.54 29.12 63.57 1,34,525.25 1,18,777.05 2,41,570.28 45,638.06 38,606.20 79,358.33 88,887.19 80,170.85 1,62,211. 95 2,989.49 3,764.81 5,064.54 6,677.55 6,047.41 12,175.71 8,397.86 3,462.71 9,578.58 3, 108.58 1,602.62 4,255.03 5,289.28 1,860.09 5,323.55 2,435.49 2,371.59 5,411.07 12.54 29.12 63.57 20,512.93 15,675.64 32,293.47 6,34,927.60 5,23.428.65 6, 16,649.52 6,78,246.72 5, 11,326.27 5,94,824.55 7 ,89 ,445.7 6 6,84,837.70 7,21,709.71 1,62,609. 95 1,38,060.67 1,48, 123.32 6,26,835.81 5,46,777.03 5,73,586.39 4,038.32 3,490.21 4,113.02 8,671.67 7,025.83 8,753.49 21,15,330.07 17,30, 108.66 19,46,050.29 4,02, 133.02 3,23,673.89 3,82,781.74 2,40,786.00 2,21 ,609.57 2,56, 187 .38 12,33, 148.54 9,77, 142.33 l 0,84,866.36 2,40,290.97 1,99,003.62 2, 19,472.46 9, 92,857.57 7,78, 138.71 8,65,393. 90 966.92 243.12 223.21 8,630.36 9,180.30 8,412.68 18,85,664.84 15,31,849.21 17,32,471.37 2,29 ,665.23 1, 98,259.45 2, 13,578. 92 21, 15,330.07 17,30,108.66 19,46,050.29 II Business segments in respect of operations of the subsidiaries have been identified and reported toking into account the customer profile, nature of product and services and the organizolion slructure. Ill Previous period figures have been regrouped and reclassified, where necessary. to make them comparable with currenl period figures. on behaH of the Board Place: Mumbai Date: 17'" October, 2026
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M M NISSIM & CO LLP Chartered Accountants Barodawala Mansion, B-Wing, 3rd Floor, 81, Dr. Annie Besant Road Worli, Mumbai 400 018 KKC & Associates LLP Chartered Accountants (formerly Khimji Kunverji & Co LLP) Level-19, Sunshine Tower, Senapati Bapat Marg, Elphinstone Road, Mumbai 400 013 Independent Auditors' Review Report on unaudited standalone financial results for the quarter and half year ended 30 September 2026 of Axis Bank Limited pursuant to the Regulation 33 and Regulation 52 read with Regulation 63(2) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended. To The Board of Directors of Axis Bank Limited 1. We have reviewed the accompanying statement of unaudited standalone financial results of Axis Bank Limited ('the Bank') for the quarter and half year ended 30 September 2026 ('the Statement'), being submitted by the Bank pursuant to the requirements of Regulation 33 and Regulation 52 read with Regulation 63(2) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ('the Listing Regulations'). We have initialled the Statement for identification purpose only. 2. This Statement, which is the responsibility of the Bank's Management and approved by the Board of Directors of the Bank, has been prepared in accordance with the recognition and measurement principles laid down in the Accounting Standard 25 'Interim Financial Reporting' ('AS 25'), . prescribed under section 133 of the Companies Act, 2013 ('the Act'), read with relevant rules issued thereunder, in so far as they apply to Banks, the relevant provisions of the Banking Regulation Act, 1949, the circulars, guidelines and directions issued by the Reserve Bank of India (the 'RBI') from time to time (the '.RBI Guidelines') and other accounting principles generally accepted in India, and in compliance with Regulation 33 and Regulation 52 read with Regulation 63(2) of the Listing Regulations. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the statement in accordance with the Standard on Review Engagements ('SRE') 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review is limited primarily to inquiries of the Bank's personnel and analytical procedures applied to financial data and thus provides less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion. Page 1 of2
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MM NISSIM & CO LLP Chartered Accountants KKC & Associates LLP Chartered Accountants 4. Based on our review conducted as stated in paragraph 3 above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in AS 25 prescribed under Section 133 of the Act, read with relevant rules issued thereunder, in so far as they apply to Banks, the RBI Guidelines and other accounting principles generally accepted in India and has not disclosed the information required to be disclosed in terms of Regulation 33 and Regulation 52 read with Regulation 63(2) of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement or that it has not been prepared in accordance with the relevant prudential norms issued by the RBI in respect of income recognition, asset classification, provisioning and other related matters. For MM NISSIM & CO LLP Chartered Accountants Firm Registration Number: 107122W/ W100672 Sanjay Khemani Partner ICAI Membership No.: 044577 UDIN: 26044577SQDDUB3207 Place: Mumbai Date: 17 October 2026 For KKC & Associates LLP Chartered Accountants (formerly Khimji Kunverji & Co LLP) Firm Registration Number: 105146W/W100621 Partner ICAI Membership No.: 117348 UDIN: 26117348OTVORO6867 Place: Mumbai Date: 1 7 October 2026 Page 2 of2
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M M NISSIM & CO LLP Chartered Accountants Barodawala Mansion, B-Wing, 3rd Floor, 81, Dr. Annie Besant Road Worli, Mumbai 400 018 KKC & Associates LLP Chartered Accountants (formerly Khimji Kunverji & Co LLP) Level-19, Sunshine Tower, Senapati Bapat Marg, Elphinstone Road, Mumbai 400 013 Independent Auditors' Review Report on unaudited consolidated financial results for the quarter and half year ended 30 September 2026 of Axis Bank Limited pursuant to the Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended. To The Board of Directors of Axis Bank Limited 1. We have reviewed the accompanying statement of unaudited consolidated financial results of Axis Bank Limited (the 'Parent' or the 'Bank'), its subsidiaries (the Parent and its subsidiaries together referred to as the 'Group') and its share of the net profit after tax of its associate for the quarter and half year ended 30 September 2026 (the 'Statement'), being submitted by the Bank pursuant to the requirements of Regulation 3 3 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the 'Listing Regulations'), except for the disclosures relating to consolidated Pillar 3 disclosures as at 30 September 2026, including leverage ratio, liquidity coverage ratio and net stable funding ratio under Basel III Capital Regulations as would be made available on the Bank's website and in respect of which a link has been provided in the Note 6 to the Statement and have not been reviewed by us. We have initialled the Statement for identification purpose only. 2. This Statement, which is the responsibility of the Bank's Management and has been approved by the Bank's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down: in the Accounting Standard 25 'Interim Financial Reporting' ('AS 25'), prescribed under section 133 of the Companies Act, 2013 ('the Act'), read with relevant rules issued thereunder, in so far as they apply to Banks, the relevant provisions of the Banking Regulation Act, 1949, the circulars, guidelines and directions issued by the Reserve Bank oflndia (the 'RBI') from time to time (the 'RBI Guidelines') and other accounting principles generally accepted in India, and in compliance with Regulation 33 of the Listing Regulations. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements ('SRE') 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants oflndia. A review of interim _financial information consists of making inquiries, primarily of Bank's personnel responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with the Standards on Auditing specified under Section 143 (10) of the Act, and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. Page I of 4
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M M NISSIM & CO LLP Chartered Accountants KKC & Associates LLP Chartered Accountants We also performed procedures in accordance with the circular issued by the Securities and Exchange Board of India under Regulation 33(8) of the Listing Regulations, as amended, to the extent applicable. 4. The Statement includes the financial results/information of the entities referred in Annexure 1. 5. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review reports of other auditors, referred to in paragraph 6 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in AS 25, prescribed under Section 133 of the Act, read with relevant rules issued thereunder, in so far as they apply to Banks, the RBI Guidelines, and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms with the requirements of Regulation 33 of the Listing Regulations including the manner in which it is to be disclosed, or that it contains any material misstatement, or that it has not been prepared in accordance with the relevant prudential norms issued by the RBI in respect of income recognition, asset classification, provisioning and other related matters except for the disclosures relating to consolidated Pillar 3 disclosures as at 30 September 2026, including leverage ratio, liquidity coverage ratio and net stable funding ratio under Basel III Capital Regulations, as would be made available on the Bank's website and in respect of which a link has been provided in Note 6 to the Statement and have not been reviewed by us. 6. We did not review the interim financial results of nine subsidiaries, included in the Statement, whose interim financial results reflects total assets of ~77,011.87 crore (before consolidation adjustments) as at 30 September 2026, total revenues of ~3,418.83 crore and ~6,058.29 crore (before consolidation adjustments) and total net profit after tax of ~663.71 crore and n,209.37 crore (before consolidation adjustments) for the quarter and half year ended 30 September 2026 respectively as considered in the Statement. These interim financial results have been reviewed by other auditors and their reports, vide which they have issued an unmodified conclusions, have been furnished to us by the management, and our conclusion on the Statement in so far as it relates to the amounts and disclosures included in respect of these subsidiaries is based solely on the review reports of such other auditors, and the procedures performed by us as stated in paragraph 3 above. Our conclusion on the statement is not modified in respect of this matter. 7. The Statement includes the interim financial results of three subsidiaries which have not been reviewed by their auditors, whose interim financial results reflect total assets of n 8.33 crore (before consolidation adjustments) as at 30 September 2026, total revenues of ~1.07 crore and ~2.23 crore (before consolidation adjustments) and total net profit after tax of W.22 crore and ~0.43 crore (before consolidation adjustments) for the quarter and half year ended 30 September 2026 respectively as considered in the Statement. Further, of these subsidiaries, two subsidiaries are located outside India whose interim results have been prepared in accordance with accounting principles generally accepted in their respective country. The Parent's management has converted the financial results of such subsidiaries from generally accepted accounting principles applicable in their respective country to generally accepted accounting principles applicable in India. Our review report i~. so far as it relates to the balances and affairs of such subsidiaries located outside Page 2 of4
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MM NISSIM & CO LLP Chartered Accountants KKC & Associates LLP Chartered Accountants India, is based on the interim financial results as prepared by the management of the respective subsidiaries and the conversion adjustments prepared by the management of the Parent. The Statement also includes the Group's share of net profit after tax of tl 6.24 crore and t30.10 crore for the quarter and half year ended 30 September 2026 respectively as considered in the Statement, in respect of an associate based on management's best estimate in the absence of its interim financial information. According to the information and explanations given to us by the management, the interim financial results of these subsidiaries and associate are not material to the Group. Our conclusion on the statement is not modified in respect of these matters. For MM NISSIM & CO LLP Chartered Accountants Firm Registration Number: 107122W/ W100672 Sanjay Khemani Partner ICAI Membership No.: 044577 UDIN: 26044577IDKUGQ3010 Place: Mumbai Date: 1 7 October 2026 For KKC & Associates LLP Chartered Accountants (formerly Khimji Kunverji & Co LLP) Firm Registration Number: 105146W /Wl 00621 Partner ICAI Membership No.: 117348 UDIN: 26117348COFXDP8818 Place: Mumbai Date: 1 7 October 2026 Page 3 of4
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MM NISSIM & CO LLP Chartered Accountants Annexure 1 List of entities included in the Statement. Parent Bank 1. Axis Bank Limited Subsidiaries 2. Axis Capital Limited 3. Axis Trustee Services Limited 4. Axis Mutual Fund Trustee Limited 5. Axis Asset Management Company Limited 6. Axis Finance Limited 7. Axis Securities Limited 8. Freecharge Payment Technologies Private Limited 9. A. Treds Limited 10. Freecharge Business and Technology Services Limited 11. Axis UK Limited ( earlier known as Axis Bank UK Limited) 12. Axis Capital USA LLC 13. Axis Pension Fund Management Limited Associate Company KKC & Associates LLP Chartered Accountants 14. Axis Max Life Insurance Limited (earlier known as Max Life Insurance Company Limited) Page 4 of 4