of loans) were reported with improvement in economic activity, 2) Asset quality metrics have held up well with strong recovery/upgrades, PCR maintained at 80%, 80bps of COVID contingency provisions (despite w.back Rs10.5bn) and restructuring book at 120bps, and 3) Strong franchise strength is reflected via solid growth both in liabilities & assets with much better managed risk, which keeps ROEs to move towards +15% in FY23 & FY24. We maintain our conviction at BUY' with revised TP of Rs. 906 (from Rs.819)...