BUZZ - Citi adds India's Axis Bank to 30-day positive catalyst watchlist due to optimistic performance expectations

September 28 - **Citi adds Axis Bank (AXBK.NS) to its 30-day positive catalyst watchlist

**Asset Return (RoA) is expected at 1.7%, Return on Equity (RoE) at 16%, benefiting from profit growth of about 40% year-on-year

**Citi expects the bank to mobilize $10 billion to $11 billion in FCNR(B) deposits, accounting for over 8% of the total mobilized by the sector

**Notes that lending against FCNR deposit balances could drive loan growth by more than 4%, thus supporting quarter-on-quarter loan and deposit growth of 8%-9%

**Says that despite balance sheet expansion, the bank is well-positioned to maintain profitability and earnings growth

**Stock price down about 1% at 1,210.40 rupees, while the banking index .NSEBANK drops 1.7%; Nifty 50 index .NSEI falls 1.3%

**The average rating from 41 analysts is “Buy”; the median target price is 1,580 rupees—data compiled by LSEG

**Year-to-date, AXBK is down 4.6%, while .NSEBANK is down 8.3%

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