CredAG continues to report strong GLP growth at 32% YoY/14% QoQ. This,coupled with stable margins and higher other income and partially offset byhigher LLP and staff costs (due to one-off provision of Rs260mn towards bonusand ex-gratia), led to an almost in-line PAT at Rs4bn/RoA @5.7% (Emkay PAT:Rs3.9bn).