DCB Bank started Q1FY20 on a weaker note led by lower loan growth and margin pressure. It has reported 17% YoY profit growth & muted 10% YoY growth in total income. Advances growth moderated to 13% YoY on the back of de-growth in the Corporate Loan book and decline in NIMs. Asset quality saw marginal deterioration while corporate book saw some writeoffs in 1QFY20. Given the management's focus towards increasing share of Retail Deposits, cost of deposits continued to increase further and consequently, NIM was declined by 11bps QoQ and 23 bps YoY. We expect asset quality and growth concern to weigh on the bank's earnings visibility....