Private sector banks reported healthy credit growth in the April-June quarter, even as deposit mobilisation remained relatively slower and net interest margins (NIMs) continued to face pressure, according to the earnings of eight private sector lenders released so far. Bank executives, however, said margins have likely bottomed out and are expected to improve in the coming quarters. “Our NIM for the first quarter at 3.46% is our cycle bottom. With the FCNR (B) deposit opportunity in the near term, we will focus on growth and deployment of the additional liquidity raised through this route,” Axis Bank management said during the post-earnings conference call.