Axis Bank Limited, one of India's leading private sector banks, has received approval from the Reserve Bank of India (RBI) for a key executive appointment. The central bank has given its nod to the appointment of Neeraj Gambhir as Executive Director of Axis Bank for a three-year term.

Appointment Details

Approval Process

The appointment of Neeraj Gambhir as Executive Director comes after a two-step approval process:

1. Board Approval: Axis Bank's Board of Directors had previously approved Gambhir's appointment as a Whole-time Director with the designation of Executive Director.

2. RBI Approval: The appointment was contingent on RBI approval, which has now been granted.

This appointment represents a significant development in Axis Bank's leadership structure. As Executive Director, Gambhir is expected to play a crucial role in shaping the bank's strategies and operations in the coming years.

Axis Bank, known for its strong presence in India's banking sector, continues to evolve its leadership team to navigate the dynamic financial landscape. The addition of Neeraj Gambhir to its executive ranks may bring fresh perspectives and expertise to the bank's operations and strategic direction.

Stakeholders and market observers will likely be watching closely to see how this appointment influences Axis Bank's performance and strategic initiatives in the future.

Axis Bank , India's third-largest private sector bank, has reported a steady performance for the second quarter of fiscal year 2026, with notable growth in advances and deposits. The bank's financial results, released on October 15, 2025, showcase its resilience in a dynamic economic environment.

Key Financial Highlights

• Net Interest Income (NII) grew 2% year-over-year (YoY) to ₹13,745.00 crores
• Operating profit stood at ₹10,413.00 crores, down 3% YoY
• Net profit decreased 26% YoY to ₹5,090.00 crores
• Advances grew 12% YoY to ₹11,16,703.00 crores
• Deposits increased 11% YoY to ₹12,03,487.00 crores

Asset Quality and Capital Adequacy

Axis Bank maintained a stable asset quality profile:

• Gross Non-Performing Assets (GNPA) ratio at 1.46%, up 2 basis points YoY
• Net Non-Performing Assets (NNPA) ratio at 0.44%, up 10 basis points YoY
• Provision Coverage Ratio (PCR) at 70%

The bank's capital position remained strong:

• Capital Adequacy Ratio (CAR) at 16.55%
• CET1 ratio improved to 14.43%, up 31 basis points YoY

Business Growth and Digital Initiatives

Axis Bank continued to focus on expanding its retail and commercial banking segments:

• Retail loans grew 6% YoY, accounting for 57% of net advances
• SME loans increased 19% YoY
• Corporate loans rose 20% YoY

The bank made significant strides in its digital banking initiatives:

• Maintained market leadership in UPI Payer PSP space with ~37% market share
• Crossed 15 million credit cards in force, with ~14% market share
• Mobile banking app rated 4.7 on Google Play Store with ~15 million monthly active users

Management Commentary

Amitabh Chaudhry, MD & CEO of Axis Bank, stated, "This quarter, we continued to push ourselves as an institution to deliver meaningful progress. From enhancing digital safety to expanding access to credit and empowering entrepreneurs, our innovations are designed to serve real needs with precision and scale. We believe true transformation is not just about technology, it's about relevance, strength, and responsibility."

Additional Developments

The bank launched several innovative products and services during the quarter:

• Introduced 'Lock FD' feature for digital blocking of premature fixed deposit withdrawals
• Launched India's first gold-backed credit line on UPI for MSMEs and self-employed entrepreneurs
• Implemented an all-in-one soundbox for small merchants, accepting multiple payment modes

Axis Bank also focused on corporate social responsibility and employee engagement:

• Hosted Sparsh Week across 5,965 branches with over 100,000 employees
• Released 'Pink Capital', a report on LGBTQIA+ financial lives
• Partnered with Antara Psychiatric Hospital to establish a Health Sciences Institute in Kolkata

Outlook

While Axis Bank faced some challenges in profitability this quarter, its strong growth in advances and deposits, coupled with its focus on digital innovation and customer-centric initiatives, positions it well for future growth. The bank's continued investments in technology and its expanding retail and commercial banking segments suggest a positive outlook for the coming quarters.

Investors and analysts will be watching closely to see how Axis Bank navigates the evolving economic landscape and capitalizes on its digital strengths to drive sustainable growth and profitability.