DCB Bank's asset quality remains stable as standstill benefit led to lower slippages during the quarter. Bank's credit growth further slowed down to 4% vs 8% (FY20). NII grew by 1% YoY while PAT de-grew by 2% YoY led by higher provisions (up 105% YoY; Rs.320mn for Covid-19 provisions). Cost-to-income ratio on a QoQ basis has declined by 81bps to 50.3% on account of decline in Opex sequentially. Bank reported 26%book under moratorium which declined from 60% under phase 1. Management guidance for upto 5% decline in the Advances has made us revise the estimates on credit growth at -5% for FY21...