India’s top nine private banks report 2.7% profit growth in Q1 amid economic challenges

India’s top private banks saw a slowdown in profit growth. Combined net profit reached ₹43,641 crore in the June quarter. This is a 2.7% increase, lower than the previous year. Sluggish credit and deposit growth impacted performance. Treasury gains helped support profitability. Some banks like Axis Bank and Kotak Mahindra Bank experienced subdued results.

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