Standing on its feet and living up to the market expectations, the Axis Bank stationed a 32% inclination on a yearly basis in its net earnings to Rs 742 crore in its first quarter of the recent fiscal.

The bank’s total proceeds hoisted up 12% on yearly basis to Rs 4,326 crore, geared up by an inclination in the loan book of 39% and a elevated fee income, which amplified by 19%.  

The bank accounted a net interest margin of 3.71%. It is inclined by than the 3.34% NIM placed during the year June 2009 quarter, but lesser than by 4.09% scheduled during the three months to March, 2010.

According to Somnath Sengupta, executive director & CFO, Axis Bank the immerse in NIM evaluated to the preceding quarter was mainly on accord of the inclination in price tag of savings bank accumulation, on which the interest is getting paid on the daily basis of average and higher hoard supplies as authorized by the central bank.