Axis Bank on Thursday reported a wider-than-expected one-time loss in the fourth quarter as weak interest income growth and its $1.41 billion Citi deal dragged margins.
Axis reported a standalone loss of ₹5,728 crore ($700.1 million), compared to a profit of ₹4,118 crore a year earlier.
Analysts had forecast the bank to report a loss of ₹806 crore, according to Refinitiv IBES data.
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This article was written byFollowFred Piard, PhD. is a quantitative analyst and IT professional with over 30 years of experience...
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