Annual Report 2007-2008 of Axis Bank

It is a broadly described annual report of Axis Bank in the year of 2007-2008. During the financial year, The Bank reported a net profit of Rs. 1,071.03 Crores during the year ended 31^st March 2008, up 62.52%, from Rs. 659.03 Crores in the previous year. In 2007-08, the Bank achieved a total income of Rs. 8,800.80 Crores, up 60.84% from 2006-07. During this period, operating revenue was Rs. 4,380.84 Crores, up 76.76% from the previous year, while operating profit was up by 76.12% to reach Rs. 2,225.92 Crores. In 2007-08, net interest income increased by 76.07% to Rs. 2,585.35 Crores from Rs. 1,468.33 Crores in the previous year. Other income, comprising trading profits, fee, and miscellaneous income, also increased strongly by 77.75% to Rs. 1,795.49 Crores in 2007-08 from Rs. 1,010.11 Crores in 2006-07. The paid-up capital of the Bank as on 31^st March 2008 thereby rose to Rs. 357.71 Crores from Rs. 281.63 Crores as on 31^st March 2007. The Bank’s Diluted Earnings per Share (EPS) for 2007-08 has risen to Rs. 31.31 from Rs. 22.79 during 2006-07.

The Board of Directors has recommended a higher dividend rate of @60% on equity shares, compared to the @45% dividend declared for the last year.

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