Federal Bank's asset quality remains stable if we factor in for standstill benefits; GNPA% improved to 2.84% vs 2.99% as slippages declined sequentially due to extension of standstill benefits (amounting to Rs.3.03bn). Credit growth declined to 11% YoY (vs 13% Q3FY20) due to cautious approach and loss of business in last 2 weeks of March quarter. Net Interest Income grew by 11% YoY led by decline in NIMs, while PAT declined by 21% YoY due to higher provisions (up 220% YoY; Rs930mn Covid-19). Operating profit grew by 28% YoY driven by a 73% growth in Non-Interest Income. NIMs remain stable sequentially at 3.0%, while cost to income ratio improved by...