than expected NPA provisions. NII growth continued to remain weak (10% yoy to Rs 37bn)belowourexpectationduetoweakloangrowth. Assetqualitycontinuedtodeteriorate,contrarytoourexpectationofimprovementas Slippages amounted to Rs 92.3bn (higher than expectation) vs. Rs 235bn in Q4FY16, consequentlyGNPA%increased85bpsqoqto13.75%,andNNPA%increased55bpsqoq to 9.16%. Recovery/upgrades were robust at Rs 48.3bn/11.8bn as a result absolute increaseinGNPAwasmarginalat86bpssequentially. NIM declined 45bps yoy to 2.45%, as yields declined (102 bps yoy to 8.54%) due to...