Slippages moderated to 3.9% of loans as compared to 5.0% in Q1FY19, of which 84% were from watch list. Consequently, Gross and Net non-performing asset (NPA) ratios improved by 68 and 54 bps sequentially to 11.8% and 4.9%, respectively. Provision coverage ratio (PCR) also improved by 164 bps QoQ to 70.8%. Though, management did not disclose amount/percentage exposure to IL&FS; group, however, the watch list of Rs8,500cr includes IL&FS; exposure towards parent company & financial service entity. BOB has an exposure of Rs21,980cr to NCLT accounts with PCR of 65%. Going forward, we believe that asset quality will improve as the incremental loan...