OBC reported net loss (Rs 4.2bn) with weak PPOP (-24/23% YoY/QoQ) and higher LLP (Rs 14.5bn, 3.8% ann). Unlike most PSB peers (barring BoB), the bank implemented 80% of the RBI?s asset quality review (AQR) in 3Q. Slippages were elevated at ~Rs 40bn (10.5% ann. vs. 2.1% ann).