Maintain BUY with a TP of Rs 214 (2.3x Sept-19 ABV of Rs 93). Maintain BUY with a TP of Rs 214 (2.3x Sept-19 ABV of Rs 93). DCBBs results seem erratic, as the one-off in 1Q (higher fees and treasury gains) blemished performance (albeit optically). The banks focus on core earnings is visible, as NII grew sequentially for the 13th straight quarter, driven by superior NIMs (~4.2%). Normalising for 1Q, non-interest income was stable sequentially (+6% YoY).