DCB bank delivered strong numbers during the quarter with 50% jump in net profit of Rs 96 cr (in-line with our estimate), driven by moderating operating expenses and lower provisioning. PPoP grew by 31% to Rs 185 cr, due to high other income and controlled OPEX. Loan growth of the bank lowered in FY19 due to de-growth in corporate book. Loan book for the year FY19 grew by 16% YoY to Rs 23,568 cr. NII for the quarter grew by 14% YoY to Rs 301 cr (our estimate: Rs 295 cr). OPEX grew by 4% YoY while it was flat on QoQ basis to Rs 215 cr, due to slower branch addition and improving productivity leading to...