Axis Bank Lists $300M Senior Notes on India INX & NSE IX
By Business Desk
Axis Bank secures final listing approvals for its $300M senior notes on India INX and NSE IX, enhancing its $5B GMTN programme with a 5.179% coupon.
Private lender Axis Bank has secured final listing approvals for its **$300 million** senior notes on the Global Securities Market of India International Exchange Ltd (India INX) and the Debt Securities Market of NSE IFSC Ltd (NSE IX). These approvals, issued on August 21, 2026, enable the listing of notes carrying a **5.179%** coupon rate.
These senior notes are an integral part of the bank’s broader **$5 billion** Global Medium Term Note (GMTN) Programme. The GMTN Programme provides a flexible framework for issuers like Axis Bank to raise debt capital from international markets over an extended period through multiple issuances.
Key Details of the Senior Notes Listing
- **$300 million** senior notes received final listing approval.
- The notes carry a **5.179%** coupon.
- They are part of Axis Bank’s **$5 billion** Global Medium Term Note Programme.
- Approvals were granted by **India INX** and **NSE IX** on August 21, 2026.
The bank has made the necessary pricing supplements for these notes publicly available on the websites of both exchanges. This disclosure aligns with previous communications issued by the bank on December 26, 2025, August 17, 2026, and August 21, 2026, indicating a structured approach to its capital market activities.
Axis Bank’s Q1 Financial Performance Overview
In parallel to its capital raising efforts, Axis Bank also disclosed its first-quarter financial performance, reporting an 8% increase in Net Interest Income year-on-year. The Net Interest Income reached **₹14,646.1 crore** for the period.
The bank’s net profit for the quarter stood at **₹7,113 crore**, demonstrating a robust 22.5% growth compared to the previous year. This figure notably exceeded CNBC-TV18’s poll expectations, despite a reported decrease in other income.
Detailed Q1 Financial Metrics
- Net Interest Income: **₹14,646.1 crore** (up 8% year-on-year).
- Net Profit: **₹7,113 crore** (up 22.5% year-on-year).
- Gross Non-Performing Assets (NPA): **1.28%** (increased from 1.23% in March).
- Net NPA: **0.39%** (increased from 0.37% in the prior quarter).
- Absolute Gross NPA: **₹17,124 crore**.
- Absolute Net NPA: **₹5,192 crore**.
Despite the strong profit growth, the bank’s asset quality showed a slight deterioration during the quarter. Gross Non-Performing Assets rose to **1.28%** from 1.23% in March, while Net Non-Performing Assets increased to **0.39%** from 0.37% in the preceding quarter.
On August 21, the same day the listing approvals were issued, Axis Bank shares closed **0.44% lower** on the NSE, trading at **₹1,245.50**. The final listing approvals for the senior notes highlight Axis Bank’s continued engagement with international debt markets, providing a detailed view of its financial and strategic positioning.