Asia’s Top Bank Stock Beats Indian Rivals With Loan Growth
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Axis Bank Ltd. is Asia’s best-performing bank stock in the past year as it extends loans at twice the pace of Indian rivals wary of the highest stressed assets in more than a decade.
As the Mumbai-based lender took market share from its domestic competitors, its stock surged 97 percent in the past 12 months, the biggest gain of the Bloomberg Asia Pacific Banks Index’s 60 members. The market capitalization-weighted gauge increased 26 percent in that time.