Axis Bank posts a 2.9% rise in Q3 net amid thinning margin

Axis Bank reported a modest 2.9% net profit increase for the third quarter, impacted by a narrower net interest margin and higher credit costs. This was partly due to a technical change in loan accounting, which also affected gross slippages. Despite this, the bank saw deposit and loan book growth, with a focus on recalibrating its loan portfolio.