Net profit fell 1.22% to Rs.2,154.28 crore in the fiscal fourth quarter from Rs.2,180.59 crore a year ago.

The country’s third largest private sector lender cut its marginal cost-based lending rate (MCLR), the benchmark for pricing loans, by 15 basis points across all tenors. Axis Bank also reduced the base rate by 5 basis points to 9.45 per cent from 9.50 per cent effective April 18. Commercial banks moved to the new loan pricing regime from April 1.

A second person confirmed that the decision to transfer the ownership of the building was taken as a way to reduce debt on the company’s balance sheet.

Based on the implementation of the ideas, the Bank will take a call on whether to continue with this theme or look at other emerging areas as well.

In the past year, large lenders like ICICI Bank, State Bank of India, Axis Bank, and HDFC Bank, which together control around 40 per cent of local banking assets, have launched new payment instruments as they seek to prevent customers from moving money to newly emerging non-bank companies.

On government-owned banks, a ICICIdirect.com report said “entering PSU banks at current levels would not be a prudent strategy despite them seeming to be available at cheap valuations.

Rajesh K Dahiya, group executive of the country's third largest private sector lender, said from the next financial year, the bank was planning to revise the definition of employment in a bank.

The term of Misra, a nominee of SUUTI, as the Non-Executive Chairman of the bank, expired on March 7, 2016, upon completion of tenure of three continuous years, the filing said.

The bank had increased its headcount to 42,420 in March 2014 from 21,640 in the corresponding month in 2010. The number of employees, though, fell in 2014-15, despite the bank increasing the number of branches from 2,402 to 2,589. By March 2015, the headcount dropped to 42,230. However, the employee base rose to 47,876 by December 2015.