Financial Data and Key Metrics Changes - Core operating profit increased by 6% year-on-year and 2.5% quarter-on-quarter to INR 175.13 billion [2] - Profit before tax, excluding treasury, was INR 149.57 billion, down from INR 152.89 billion in Q3 of the previous year [3] - Profit after tax decreased to INR 113.18 billion from INR 117.92 billion in Q3 of last year [3] - Average deposits grew by 8.7% year-on-year and 1.8% sequentially [3] - Total provisions during the quarter were INR 25.56 billion, including an additional standard asset provision of INR 12.83 billion [3][6] Business Line Data and Key Metrics Changes - Domestic loan portfolio grew by 11.5% year-on-year and 4% sequentially [4] - Retail loan portfolio grew by 7.2% year-on-year and 1.9% sequentially, with the rural portfolio growing by 4.9% year-on-year [4] - Business banking portfolio grew by 22.8% year-on-year and 4.7% sequentially [4] - Corporate portfolio grew by 5.6% year-on-year and 6.5% sequentially [4] - Credit card portfolio declined by 3.5% year-on-year and 6.7% sequentially [8] Market Data and Key Metrics Changes - Average LCR for the quarter was about 126% [3][6] - Net NPA ratio improved to 0.37% from 0.39% in the previous quarter [4] - Provisioning coverage ratio on non-performing loans was 75.4% [5] Company Strategy and Development Direction - The strategic focus remains on growing profit before tax through a customer-centric approach and enhancing delivery capabilities [2] - The bank aims to maintain a strong balance sheet, prudent provisioning, and healthy capital levels while delivering sustainable returns to shareholders [6] Management's Comments on Operating Environment and Future Outlook - Management sees many opportunities for risk-calibrated, profitable growth and aims to grow market shares across key segments [6] - The bank is focused on bringing the agricultural priority sector credit portfolio into conformity with regulatory expectations [7] - Management expects net interest margins to remain range-bound, with some deposit repricing still possible [27] Other Important Information - The bank's operating expenses increased by 13.2% year-on-year, influenced by new labor code provisions [16] - Dividend income from subsidiaries was INR 6.81 billion, compared to INR 5.09 billion in Q3 of last year [15] Q&A Session Summary Question: What is the size of the portfolio on which standard asset provisions were made? - The underlying portfolio is between INR 200-250 billion, and the bank will work to bring it into conformity with regulatory expectations [26] Question: How do you view margins from here on? - Margins are expected to remain steady, with some deposit repricing and the impact of repo rate cuts [27] Question: Is there any additional PSL cost due to the declassification of agri loans? - The cost of PSL compliance has been increasing, but no specific additional costs are expected at this time [33] Question: What is the outlook for credit card growth? - The decline in the credit card portfolio is seen as a one-off, and growth is expected to improve moving forward [35] Question: How is the bank managing operating expenses? - The bank aims to maximize profit before provisions and does not expect costs to rise at the same pace as before [50]