Shikha Sharma, managing director and chief executive officer of Axis Bank, said the lender would aim to achieve credit growth of above 17 per cent, the projection made by the Reserve Bank of India for 2012-13. Current accounts and savings accounts constituted 42 per cent of the total bank deposits at the end of 2011-12. However, an increase in the cost of funds led to lower net interest margins (NIMs) during the quarter. NIMs fell from 3.65 per cent to 3.59 per cent. Somnath Sengupta, executive director and chief financial officer of Axis Bank, said NIMs were expected to be in the 3.25-3.5 per cent range in the coming quarters. On the asset quality front, the bank reported a net non-performing assets ratio of 0.25 per cent as compared to 0.26 per cent in the corresponding period last year. Gross non-performing assets as a percentage of gross assets also fell from 1.01 per cent to 0.94 per cent in the same period.