Axis Bank reported PAT of Rs.11.1bn vs loss of Rs.13.9bn QoQ as provisions declined by 43% sequentially. Moratorium book as of April 25 stood at 28% which declined to 9.7% as of 30 June'20 due to change in policy as against opt-in during phase 1. Asset quality issues need to be watch out for in H2FY21. NII grew by 20% YoY led by stable NIMs at 3.4% (flat YoY). PPoP declined by 1% YoY (flat QoQ) led by 33% YoY decline in non- interest income. Lower gross slippages could be due to standstill classification; however BB & Below book net decline at slower pace remains a key concern. With management change behind, strong capital in place and focus on secured retail portfolio, AXISB would see better revival in...