BOB's asset quality improved marginally as fresh slippages declined by 41% QoQ. Hence, Gross/Net non-performing assets (NPA) improved by 24/12 bps sequentially to 11.2%/5.1%. Provision coverage ratio also (PCR) improved by 90 bps QoQ to 67.2% as the bank continues to make provisions judiciously. The Bank has total exposure to the tune of Rs77bn towards first list of loan accounts referred to IBC/NCLT. Notably, all these loans have already been classified as NPAs and currently the Bank holds PCR of ~54% for these accounts. We believe that some green shoots are visible and expect asset quality to improve gradually from hereon. We project...