REG - Axis Bank Ltd - AUDITED FINANCIAL RESULTS OF THE BANK

Axis BankAnnouncement

28/04/2020 13:30

RNS Number : 1932L
  
Axis Bank Limited
  
28 April 2020
  
 

AXIS/CO/CS/33/2020-21
 
28th April 2020
  
Dear Sir(s),
SUB.: AUDITED FINANCIAL RESULTS OF THE BANK, FOR THE QUARTER / FINANCIAL YEAR ENDED 31st MARCH 2020
 
REF: REGULATION 33 OF THE SEBI (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2015 ("LISTING REGULATIONS")
 
This is to inform you that at the 206th meeting of the Board of Directors of the Bank (the "Board") held today, the Board has reviewed and approved the Audited Standalone Financial Results of the Bank, for the Quarter / Financial Year ended 31st March 2020 and the Audited Consolidated Financial Results of Axis Bank Group for the Financial Year ended 31st March 2020 along with the Audit Report issued by the Statutory Auditors of the Bank, in that regard, which were reviewed by the Audit Committee of the Board at its meeting held earlier during the day and recommended for the approval of the Board.
 
Please note that the said Board meeting commenced at 1.00 p.m. and the results were reviewed and approved by the Board at 4.30 p.m.
 
In this connection, we enclose herewith the said Financial Results, the Audited Report issued by the Statutory Auditors of the Bank, the Press Release and the Earnings Presentation for the quarter/financial year ended 31st March 2020, which please note are being uploaded on the website of the Bank, in terms of the Listing Regulations.
 
The RBI vide its circular no. RBI/2019-20/218DOR.BP.BC.No.64/21.02.067/2019-20 dated 17th April 2020, has restricted banks from making any further dividend payouts from the profits pertaining to the financial year ended 31st March 2020, until its further instructions. This restriction shall be reassessed by the RBI based on the financial results of banks for the quarter ending 30th September 2020. 
 
Accordingly, despite having adequate profits, in order to conserve capital and in compliance with the said advisory, no dividend has been recommended by the Board of Directors of the Bank, for the financial year ended 31st March 2020.
 
Please note that the Bank will be holding conference calls with the Analysts, with regard to the said results.
 
Also, please note that the blackout period which is in-force since Sunday, 22nd March 2020 will end on Thursday, 30th April 2020, consequently, the trading window will commence from Friday, 1st May 2020 up to Saturday, 20th June 2020 (both days inclusive), in terms of the Share Dealing Code - October 2019, formulated and adopted by the Bank, under the SEBI (Prohibition of Insider Trading) Regulations, 2015.
 
You are requested to take note of above and arrange to bring it to the notice of all concerned.
 
http://www.rns-pdf.londonstockexchange.com/rns/1932L_1-2020-4-28.pdf 
 
Thanking You.
 
Yours sincerely,
 
For Axis Bank Limited
 
 
 
Girish V. Koliyote
Company Secretary 
Encl.: as above 
 
 


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