SBIN reported PAT of INR8.4b (our estimate: INR36.5b) for 4QFY19, dragged by higher provisions of INR165b. NII increased 15% YoY to INR229.5b (in-line), driven by strong loan growth of 13% YoY. Domestic NIM expanded 5bp QoQ to 3.02%. For FY19, NII grew by 18%, while PAT stood at INR8.6b (v/s a loss of INR65.5b in the previous year). Other income grew 1.5% YoY/58% QoQ in a seasonally strong quarter to INR126.8b, driving 10% YoY growth in overall revenues. Opex increased 13% YoY to INR187b, mainly led by wage provisions of INR39.8b (FY19: INR56.4b)....