4. Operational efficiency : Despite the fall in net interest margins (NIM), enhanced operational efficiency will offset, to some extent, the adverse impact of falling NIMs, notes Ambit. Manappuram, which spends heavily on advertising, can easily lower advertising costs if loan growth takes a steep dive. The company also keeps its branches open seven days a week. Closing branches one day per week will bring about a 10 percent saving on Manappuram's per branch per employee cost, says Ambit. In other words, there is room to cut costs and buoy NIMs.