Annual Report 2005-2006 of Axis Bank

It is a broadly described annual report of Axis Bank in the year of 2005-2006. During the financial year, The Bank posted a net profit of Rs. 485.08 Crores for the year, which is 44.98% higher than Rs. 334.58 Crores in the previous year. The Bank’s total income has increased by 54.63% to Rs. 3,618.42 Crores from Rs. 2,339.98 Crores in the previous year. During 2005-06, the operating revenue of the Bank increased by 57.62% to Rs. 1,807.86 Crores from Rs. 1,147.00 Crores in 2004-05. The Bank’s basic earnings per share increased from Rs. 14.32 to Rs. 17.45 per share, while diluted earnings were Rs. 17.08 per share in 2005-06 as compared to Rs. 14.06 per share in 2004-05. Total deposits have increased by 26.49% from Rs. 31,712 Crores on 31st March 2005 to Rs. 40,113.53 Crores on 31^st March 2006. The paid-up capital of the Bank as on 31^st March 2006 rose to Rs. 278.69 Crores from Rs. 273.80 Crores as on 31^st March 2005.

The Board of Directors of the bank has recommended a higher dividend rate of @35% on equity shares, compared to the @28% dividend declared for the previous year.

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