BAF reported a good set of numbers in Q4FY24, against the backdrop of RBI’sembargo on EMI and Ecom cards which affected PBT by ~4%, largely meetingConsensus estimates. Management gave guidance for FY25 AUM growth of ~26-28% and RoA of ~4.6-4.8% of AAUM, with profitability improving in the secondhalf as the first half will see some moderation in NIM on account of elevatedborrowing cost.