DCBB sprung a pleasant surprise with a healthy performance across parameters. Led by (1) Strong growth ( 24% YoY), (2) Superior NIM of 3.95% and (3) A stable core C-I ratio of ~63%, DCBB?s core ( 31% YoY) and net ( 25% YoY) earnings beat estimates. CASA ratio stood at 26%, up ~400bps QoQ (though not sustainable, we believe) with a sharp 58% rise in SA.