Refer to important disclosures at the end of this report Accelerated provisions suppress PAT in Q4; constant tech outages remain an irritant Despite stable NIMs and higher fees leading to a beat on PPoP, the bank reported slightly lower PAT at Rs81.8bn (up 18% yoy) vs. est. of Rs83bn, mainly due to additional contingent provisions of Rs8bn amid raging second Covid wave and Rs5bn for interest-on-interest waiver. Retail credit growth remained subdued at 8% yoy due to the bank's cautious stance and the RBI's suspension of new card acquisition. Corporate growth remains very strong, leading to...