Healthy & Stable: We assess the bank's 3QFY18 performance as healthy and stable. The loan growth was healthy at 4.4%/25% QoQ/YoY led by higher growth in the bank's high yield and core vehicle finance book. While there were noise in higher NNPA growth (10% QoQ) the same is not entirely led by high slippages but low deductions as well in the quarter.