Axis Bank revises NPA rules, profit slips 4%

The private lender's move hit one-time settlements and retail overdrafts, especially in agriculture loans

- Anshika Kayastha

Axis Bank's asset quality deteriorated in the first quarter of the current financial year due to the sustained elevation in retail unsecured slippages and a change in the classification metric for non-performing assets (NPA). The first among private sector banks to declare its results for the April-June quarter, Axis Bank also saw a rise in provisions owing to the technical impact, weighing on the bottomline.