Q2 25/26

Oct 17, 2025

Good afternoon, everyone. Welcome to UCO Bank's Q2 FY26 earnings conference call. It is my pleasure to introduce to you the senior management of UCO Bank. We have with us today Mr. Ashwani Kumar, MD and CEO, Mr. Rajendra Kumar Saboo, Executive Director, Mr. Vijay N. Kamble, Executive Director, and other management from UCO Bank. We will have the opening remarks from the MD, sir, post which we will be open to your questions. Over to you, sir. Thank you. I welcome you all, all analysts and investors, to this post-September quarterly results of UCO Bank. Along with me, I have our EDs, Mr. Saboo and Mr. Kamble, top management team, including CFO, CRO, and all other executives. First of all, I welcome you all to this analyst meeting. Just to give you a brief of the bank's performance in this quarter and half year ended September 2025, business of the bank grew by 13.23%, of which deposit growth was 10.85% and credit growth was 16.56%. Deposit CASA grew by 9.53%, saving growth was 7.50%, and current account growth was 23.94%. We were able to maintain CASA 38.11% and the guidance given was 37 to 38% CASA growth, the CASA percentage. Consistently, our CASA is in the range of 37 to 38% for the last almost two years. When we look at our credit growth, within the credit, our RAM growth, retail, agri, MSME put together grew by 22.87%. Within the RAM, retail growth was 25.4% and retail growth was supported by housing loan growth of 18.94%, car loan growth or vehicle loan growth of 72.87%, and agriculture was 17.28% growth, and MSME grew by 23.8%. Our RAM percentage increased to 65.23% of the total advances. Now coming to the profitability parameters, our operating profit grew by 10%. Our operating profit for the quarter ended September 2025, stood at INR 1,613 crore, registering a growth of 12.64%. Net profit stood at INR 620 crore, with a growth of 3% over an annual basis. Our operating profit growth and net profit was supported by a growth in net interest income for the year September, for the quarter ended September 2025, the growth was 10.08%, and fee-based income growth was also more than 10% during this period. Our net interest margin global stood at 2.90% and domestic stood at 3.08%. This NIM is calculated excluding one-time interest income of INR 107 crore, which was realized by in a TWO account. That was an exceptional item, so that has been excluded. If that is included, our NIM, global NIM and domestic NIM, improves by another more than 15 bps. Now coming to asset quality, our gross NPA has reduced by 60 bps, 62 bps on an annual basis to 2.56%, and net NPA has reduced by 30 bps on an annual basis to 0.43%. Our PCR further improved to 96.99%. Tangible PCR excluding TWO improved to 83.68% as against 78% earlier year before. Total recovery and upgradation for the quarter ended was INR 792 crore. Recovery, upgradation and TWO recovery, and previous quarter it was INR 756 crore. For the half year ended, it was INR 1,548 crore against a full year target of INR 2,200 to 2,700 guidance we have given. Now coming to the slippage ratio, the slippage ratio for the quarter ended September 2025 was 0.26%. Annualized, it was 1.04%. It is again within the guidance given of 1% to 1.25%. When we look at the slippage, slippages are mainly this quarter from agriculture INR 238 crore. Basically, because of the KCC portfolio, half year there is a phenomenon. Last year also same quarter, it was INR 206 crore. This quarter, it is INR 238 crore. Apart from that, the slippages are under control, and overall slippage ratio remains within the guidance given by the bank. When we look at SMA one and two more than INR 1 crore and SMA zero one and two more than INR 1 crore, all three categories put together, our SMA is INR 1,790 crore, which includes zero, one, and two, and that works out to 0.77% of our total advances. When we look at restructured portfolio, our restructured portfolio has been consistently coming down. Normal restructured portfolio as per RBI guidelines, September 2024, it was INR 2,786 crore. Now it has come down to INR 1,561 crore, which works out to be 0.65% of the total advances. Apart from that, COVID-19 restructured portfolio, that was INR 1,718 crore. In September 2025, it has come down to INR 1,283 crore. That is again substantial reduction is there. Overall restructured portfolio, both the schemes put together is INR 2,784 crore only. Coming to our ratios, key financial ratios, our cost of deposit has been contained, and it has come down from 4.88% in September 2024 to 4.73% in September 2025. Though our CASA is around 38%, we are able to manage our cost of deposit well by managing our liquidity on an ongoing basis. Similarly, our cost of fund also has come down by 22 bps over one year from 4.79% to 4.57%. Cost to income ratio, which used to be very high at once upon a time around 61%, has been consistently coming down. Now it is 52.79% in this quarter. Our yield on advances on domestic is now at 8.39%. Yield on investment is 6.84%. It has improved from the last quarter. Our business per employee has also improved from INR 22 crore a year before to INR 25 crore. Business per branch has also improved from INR 145 crore to INR 261 crore in this year. If we include the exceptional income of INR 107 crore, that is one-time interest income of INR 107 crore in this, while calculating our yield on advances or NIM, our yield on advances global stood at 8.25% as against 8.06%, and NIM global stood at 3.03% as against 2.90%. Yield on advances domestic stood at 8.60% as against 8.39%, and NIM domestic stood at 3.23% as against 3.08%. In all these parameters, there is a considerable improvement. Now coming to capital adequacy ratio of the bank, capital adequacy ratio of the bank has been consistently strong, and in this quarter also, without adding profitability for the half year ended September 2025, our capital adequacy ratio stood at 17.89% and with Tier One capital of 15.90%. CD ratio has improved to 75.47% as against 71.77% a year before. There is an improvement in the CD ratio as well, and this CD ratio is again within the guidance we have given at the start of the year. Most of the parameters, whatever guidance we have given at the beginning of the year, in business performance, as deposit growth, target guidance was 10% to 12%. Our achievement is 10.85%. Credit growth, our guidance was 12% to 14%. Achievement is 16.56%. CASA percentage was 37% to 38%. Achievement is 38.11%. RAM percentage we projected 61% to 63%. We have achieved 65%. CD ratio in the project guidance was 75% to 77%. We are 75.47%. Credit cost less than 5%. Our credit cost is 0.72%. NIM global was 3% to 3.10%, which we have revised to 2.8% to 2.9% in view of the sharp reduction in repo rate by Reserve Bank of India. That now we start at 2.90%. Gross NPA, our year-end projection is at 2.50%. We have already reached 2.56%, and we are poised to improve to below 2.50% by the year-end. Net NPA, our guidance was less than 0.35%. We have already reached 0.43%. We have still two quarters, and we are confident that we will be achieving this net NPA ratio also. Total slippage ratio was also 1% to 1.25%. Now our ratio is 1.05%. Recovery and upgradation, our guidance was INR 2,200 crore to INR 2,700 crore. Achievement is INR 1,548 crore. These all are the financial performance parameters of the bank, which I wanted to highlight in this forum. Now I'll come to the various initiatives bank has taken and which are under pipeline. As you all know, we started Project Parivartan, digital transformation, in last year September, and till now we have already digitized 27 digital journeys across retail, MSME, agri, and all liability products. Five more journeys are in pipeline. The bank's total digital business has reached INR 10,554 crore as on 30 September 2025. Our mobile banking users have increased from 14 lakh in March 2023 to 57 lakh in September 2025. Our mobile banking app rating on Google Play Store has improved, and it is consistently now at 4.8. Our mobile banking channels are available 24/7 for all activities with regard to transfers or payment or liquidation of FDR or pre-mature FDR or payment of FDRs, anything. We introduced tap banking in the last financial year in March to all the branches. Today, around 57% of our accounts are opened through tap banking in the branches. WhatsApp banking was also launched last year. Today, when we speak, WhatsApp banking user base has increased to 15 lakh, and now we are offering 46 services in five languages: Hindi, English, Bengali, Assamese, and Urdu to our customers. Many new features have been added: positive pay system, re-KYC, Aprajita debit card, insurance, account balance in Sukanya, Samriddhi, and STP journey lines. Many more features are planned in the WhatsApp banking in the near future. In mobile banking, we have launched beneficiary lookup and for the convenience of our customers to book slot. Slot booking option has been given in the mobile banking also. Re-KYC has also been introduced through ATMs also. We have introduced Aeternal metal card for HNI customers. 215 new ATMs have been installed, and 59 recyclers have been installed. We have started API gateway and API integration with a number of corporates have been done. Last year, we started with CBDC, which has now become operational, and now CBDC app is for the Android customers already launched. We have also migrated to the new website to the new domain that is dotbank.in as per the direction of the Reserve Bank of India. In IT, a number of new initiatives are also planned, which are underway in this half year, coming half year, and the next year, like application performance monitoring software, cyber security vault near DR at Kolkata, robotic process automation, omni channel, interoperable credit card, cardless cash withdrawal, and Android ATMs. CBDC more functionalities will be added in the CBDC. Face authentication for PIN reset, that will be added. Against a budget of around INR 1,000 crore, which we have kept for the IT announcement, INR 275 crore has already been spent. Another INR 300 crore is in the pipeline, maybe by December, we will be spending that also. That is also on track. Various more initiatives are being planned, which are underway. That is Murex Treasury Solution, which we started last year. Now it is going to be live in the next quarter by December. We have also planned to launch our CASA back office for onboarding of new customers. ForexTC, that is also being launched. DMS is already on the way. Consolidation of data center is also already in process. Video KYC will be launched soon. We are also launching capital market sale for various activities. Tie-up with various mutual funds is being explored to boost our fee-based income. Branch expansion plan, which is approved by our board, we are now planning to have 150 more branches by March. We are aggressively working for the improvement of our branch ambience and tie-up with various OEMs to boost our retail, agriculture, and MSME outreach. Omni channel experience, Omni channel project is also underway, and maybe by next year, that should be up and running to give a uniform experience across channels to our customers. Plus, on the employee side also, a lot of initiatives are being taken. Bank is recruiting more and more skilled manpower to support the new realities of today's world, like in IT, digital, and also in cyber security. AIML-driven reverse retrosalte system is being introduced. We have already created AIML cell, and now we are exploring use cases where we can use AIML in a big way. To enhance our customer service, we have launched and revamped our Ude chatbot also with live agent and balancing query, mini statement, etc. IVR system has been upgraded to 35 services with priority option for senior citizens, NRI, CKYC information. Employee-specific feedback has been introduced to understand the behavior or the services rendered by our staff members. Priority services have been flagged for Divyang Chand customers. We have also integrated with the RBI Mule Hunter to combat this mule account problem. Integration with I4C has also been completed. We have already launched new eight-digit toll-free number in line with RBI guidelines, government guidelines. Integration has been completed with the suspect registry also. API has been linked with DOT for MNRL and FRI usage. Enhanced enterprise fraud risk management for proactive transaction monitoring has been done. These are the number of initiatives which the bank has already initiated and are in the pipeline, which will be seeing light of the day in the quarter, the next quarter, and next year also. These were the few thoughts I thought before we open up. I must share with you all. Now we are open for your questions, answers, or your observations, which our team is there to respond to your queries. Thank you very much. Thank you, sir. Participants who wish to ask a question, please raise your hands. You'll be unmuted. The first question that we have is from Ashok Azmeera. Good afternoon, sir. Good afternoon, Jiviraji. Ashwani sir, Vijay N. Kamble ji, Saboo ji, and the entire top management team sitting there, first of all, yes, compliments for yet another good quarter. Both on the profitability front as well as the asset quality front, there are a lot of improvements. Having said that, and of course, you have mentioned even that a little bit of CASA has also gone up, which is under pressure in some of the other banks, even this % wise. They are all very good points. My major point, which generally comes to my attention, is number one is the credit growth. Though on annualized basis, you are talking about 16.56%, if you look at the current FY2026, now six months have already gone, and we are still at about, I think, INR 10,000 crore or something only, plus INR 30,000 crore more is required to be sanctioned and disbursed to meet your target of 14% on this. On the credit front, this half year has been comparatively slower if you talk about the entire FY2026 end results. On that, your views on that, and what is the sanction pipeline, and how are we going to meet, and whether we are going to, because in our corporate book also, there is a fall in this quarter by about, I think, INR 4,000 crore. Yes, yes. Are we again looking at rebuilding the corporate from here to beat this shortfall as well as also to increase the corporate book, or are you going to continue to have the retail book only, you know, growing further? Your thoughts on and planning on that. My second question is on the ECL, on the SMA 1 and 2, you have made a provision of INR 462 crore. What has gone into, I mean, in this calculation, because SMA 1 and 2 is around INR 970 crore something. On that, the provision you made is INR 462 crore as per your note in the accounts about INR 1 crore. On the overall picture on the ECL, what kind of calculations have you done, and what will be required to meet these guidelines, and whether we are within the comfortable zone for that? Some light, if you can throw on that. Sir, another one is that on the income and expenditure front, our income in this quarter has gone down. Non-interest income has gone down because mainly one is treasury income has gone down from INR 198 crore to INR 104 crore this quarter. The recovery from return of account is also about INR 45, 50 crore lower than the last quarter. Because of that, I think the non-interest income is under pressure in this quarter. One other thing which I would like to know, sir, is that we have a recovery through the NCLT resolution of INR 104 crore in this quarter. Can you throw some light on that also? What are the recovery prospects in the remaining two quarters on that? Similarly, on that one SR, there is a note of the government secured the NARCL that INR 274 crore applied revised norms. On INR 274 crore SRs, you applied the revised norms. How much in absolute terms any effect has come into P&L in this quarter because of that? That is note number 19. These are some of my data points which I ask and some of the observations on which I seek your comment, sir. Thank you, Jiviraji. I think most pertinent and relevant observations made by you. See, so far as credit growth is concerned, you will find that our retail, agriculture, MSME is growing well. In corporate, we have degrown. If you look at our corporate rear, we have degrown. If you go a little deeper into that, more than INR 2,000 crore is from PSU segment. That is because of the yield pressure. When we wanted to give them at a higher price, they had the option of taking it at a lower price from some other competitive banks or peer banks. We did not agree to the lower pricing, and we thought that instead of bringing our names under pressure, it is better to not go for a top line growth without having any margins in the yield. That was the intent and because of that only. There were certain IBPC which were there, which became due for payment, but we did not agree for the pricing which they were offering. Now the balance sheet is totally free of IBPC. There is no IBPC outstanding as on date. That is because of this only, there was a degrowth. If you look at prior previous quarters, every time there was a growth in corporate credit book also. So far as the next half year is concerned, let me also tell you that around INR 17,000 to 18,000 crore sanction pipeline is there. It is again subject to the agreement on the pricing. If we agree to the pricing or corporates agree to the pricing, we will be able to lend them. Otherwise, we will look for more and more new opportunities which are now, I think, available in the market in various renewable segment, your data center, your battery swap segment, smart metering. A number of opportunities are there in the market where we are targeting new business opportunities. The second was about ECL. If you look at our June, we have already made some provision on SMA one and two book of INR 189 crore. INR 190 crore of forward-looking provision was there. It is nothing, but we have clumped that towards ECL. We have not done any calculation. It is the same thing. Some additional provision has been made on the book. Next quarter, we will be doing a detailed exercise, and then we will be allocating it to different segments. Like stage one and stage two, like that we will be doing in the next quarter. We will start doing. Our intent is that before the new norms kick in, we will have at least baseline provisioning required, baseline provisioning for different different. That baseline provisioning should be available within the bank. If you look at our SMA one book, more than INR 1 crore, more than INR 1 crore, one book is around INR 1,700 crore only. More than one, 0, 1, 2, all. So 0, 1, 2, INR 1,790 crore, I think. Yes. This much is only INR 1,790 crore. Per se, this provision is applicable to the entire portfolio. Even below INR 1 crore also, we will be spreading it. Next quarter, we will be doing a detailed exercise. This quarter, we have just clumped it and marked it towards ECL going forward. Yes, non-treasury, non-interest income, if you look at fee-based income, there is a growth in fee-based income. Because of treasury and write-off recovery, you can see every quarter, we can have the same set of recoveries that whatever we recovered. If you remember, in March, we have a bumper recovery from one account. That helped us to register a good amount of total overall recovery and a good amount of profitability also. That is the reason we have already reduced our target of recovery because that was expected in these last quarters. If you look at overall recovery, including upgradation, recovery, and return of, we are well within our guidance given. In spite of our slight reduction in treasury income and in non-interest income, our operating profit has grown. That clearly shows that other channels have participated, maybe NIMs or fee-based income. That's what led to the growth in our operating profit also. Regarding the SR note, I think if you can explain. This SR specifically says the government guarantee in line with the RBI guidelines. This INR 275 crore pertaining to government guarantee SRs has been deducted from the capital, so accordingly, the capital provision has been reduced. was no impact during the quarter on anything in P&L? No. No, nothing in P&L? No, no. No impact on the P&L? No, no impact on P&L. Yeah, that NCLT recovery of INR 104 crore through the resolution has come this time. Yes, that is, I think, in a few accounts, it has come. Two accounts are already in pipeline where maybe in the next quarter, we will get some recovery. It's five accounts, and through resolution, it has come INR 104 crore. Other than INR 104 crore, it is through in surplusy action or normal recovery or upgradation. Out of total recovery of INR 758 crore, which we have reported as INR 790 crore? 792. 792. Out of 792, only INR 104 crore is through NCLT action. Other recovery is through SARFAESI actions or recovery and upgradation efforts by the branches. Sir, one point on this, our DTA, you know, because of the carry forward losses, and we have a huge DTA even now also, I think, of INR 5,258 crore as reported in note number seven. Yes, with this kind of profitability, which we are having, INR 620 crore, INR 50 crore per quarter, means maybe around INR 2,800 or INR 3,000 crore maybe for the whole year. Is there any calculation done that by what time we can go under the new regime of taxation by setting off the entire DTA available to us? I think we have another two years. Two years, 2027, 2028, we should be going into it because now as we are going forward, 83% of the portfolio is already provided for our tangible PCR. That provisioning requirement will come down. Once the provisioning requirements are coming down, naturally, you will have an opportunity to declare more profits. As you declare more profits, more reversal will be there. Hopefully, in the next two years, we should be consuming it. All right, sir. Thank you very much. I'll come back again if time permits, sir. All the best to you, sir. All the best. Thank you, sir. Thank you, sir. Thank you. The next question that we have is from Sushil Choksey. Sushil, you can unmute yourself. Happy Diwali to all UCO Bank team and congratulations for very stable number. Thank you. Thank you. Happy Diwali, Sushili ji, and you all. Sir, my first question is we are showing very good growth on some new segments which have started, specifically car loans. We always had a product, but some new initiatives are there. We are talking about retail loan growth. Now with the new credit, new guidance come from RBI, co-lending, and other verification, new policy CLM one and two. What kind of initiatives are we taking to energize our RAM sector on a higher trajectory? Sushili ji, you are right that car loan has been growing well. We have revamped our product in housing loan, car loan also, and that segment is growing well now. In light of this RBI new guidelines on co-lending, we are planning to, we have started looking at certain tie-ups with certain NBFCs to enter into some relationship with them so that this co-lending thing can be taken further. As far as at present is concerned, we have a co-lending exposure. Currently, we have a co-lending exposure of INR 2,100 crore. We expect that in light of the new guidelines, we should enter into relationship with new, more and more NBFCs and take it forward. Pool exposure is around INR 10,700 crore. The target will be that we enter into a co-lending where we have more control and visibility about the customers to whom we are onboarding. Sir, RBI also allowed a lot of capital market activities with the lending against shares, now merger acquisition. You also have an international position from Singapore, Hong Kong. Do you see that this year the traction will come from that segment too and in the retail product share advances and new IPO financing? See, this new announcement made by RBI, I think it is definitely going to open up a new stream for the banking sector as such. Once the guidelines are in place, I think we should be open to looking at the opportunities for participating in those M&A activities. Having our presence in Singapore and Hong Kong, we should be very keenly looking at those opportunities. Sir, we can set up from GIFT City also, no, sir? Yeah, GIFT City. We have already got approval from Reserve Bank of India to open GIFT City branch. We are getting all the infrastructure in place. Once the GIFT City comes into play, at that time, GIFT City will be a major contributor to this segment. Then third one. Capital market. Capital market. Capital market. See, IPO financing, yes, definitely, this is an area which is, I think, a very interesting area. We should be looking at getting into this area. We have not yet ventured into this, but definitely, we will be looking into this area now. Sir, my question is more pertinent too because cross-sell of mutual fund, cars, insurance, car loans, share advance, new IPO financing will attract a lot of customers from CASA point of view, which would help the bank's margin to improve. Definitely, mutual fund, I tell you, though we already have a platform through which the customers can onboard on the mutual fund, we are also exploring direct tie-up with the mutual fund. The benefit is that we will have a higher % as a commission than a shared commission. We are exploring that also. We have already taken the ARN. Now we will be going ahead in entering into a partnership or MOU with the mutual fund so that we onboard through that channel and the bank gets more commission because many of our customers are directly getting into that mutual fund. SIPs are there. One-time mutual fund investments are there. That also we are exploring. Definitely, as we engage more with the customers, stickiness of the customers improves. It will have a positive impact on our CASA ratio also, apart from our fee-based income. It will give us more cross-sell opportunities for car, housing, whatever we think. That is another area where we are working on. Sir, what is your outlook on global NIM and domestic NIM, and also on balance between corporate and RAM? See, corporate and RAM, we have given a guidance of 61% to 63% in RAM and 37% corporate. We will continue to have that guidance of 61% to 63%, though we are at 65%. The 65% is basically because of some reduction in our corporate by INR 4,000 crore in this quarter. Otherwise, we were at around 63%. Second. Those advances must be low-yielding ones. That's why you have shaded, no? Yes, yes, yes. That was low yielding advances. Second, you are on global NIM and domestic NIM. Earlier, global NIM, we have given a guidance of 3 to 3.1. Subsequently, in June, there was a sharp reduction in repo cut by RBI. We have revised our guidance to 2.8 to 2.90 for global NIM and 3 to 3.10 for our domestic NIM. Sir, what is our digital spend and what is your outlook on treasury for the year? See, digital, I have already told, our target is around INR 1,000 crore in this year, out of which INR 275 crore is already spent and another INR 370 crore projects are in pipeline, which are under ordering stage and RFP stage. Further new projects will come. I believe that by the year end, we will be spending around INR 800 to 900 crore in the digital spend. That is one. Number two, in the treasury, if you look at treasury, we have slightly built our book in this quarter. Earlier, our total book was around, investment book was around INR 91,000 crore, and now it is INR 94 or 95,000 crore. To take advantage of the slightly harder yield during this quarter, we have built some portfolio. Hopefully, whenever there is an opportunity in the times to come, either some repo cut is coming or some other treasury yields are falling, that time we will have an opportunity to make use of those securities and to book some in profit on those securities. OK, sir. Second thing, sir, I hear that you are also getting good capital market gains. Is that to be assumed that it's a sustainable profit to your treasury? Which gain? Capital market? Capital market gains. Treasury gains? Treasury gains? Treasury gains? Treasury gains? Treasury gains? OK, sir. Treasury gains are depending upon, again, market situation and transaction to transaction. No, sir, you are assuming only on bond. I understand equity is also contributing well. That's what I want to know. Ajay, IPO. IPO opportunities are always there, and we are regularly participating in IPO opportunities also. We are already in. Recently also, there were two, three good IPOs we participated, and definitely, we had a good gain in those IPOs. That opportunity-based wherever is there, we will continue to encash on those opportunities. We are very active in our treasury now. Yes, yes. Second thing, sir, how are you positioning yourself that there is a commodity boom likely because hard assets are under more likelihood? You have seen what has happened in gold, silver. Now I understand minerals are the next chase. Are we capitalizing because we are based in East where a lot of headquartered companies are in this business? Are we seeing any green shoots in that business where mineral mining and all is concerned? Second thing, on green energy, that is green financing, if you have taken any steps? See, first, let me tell you, green financing, we have a very good appetite for green financing. I think in the last two years, we have already done around INR 3,000 crore of sanctions, and INR 2,000 crore is outstanding. Yes, INR 3,000 crore is outstanding. This is again done in the last almost two years. Two years prior, we don't have much exposure. We are into that Surya Gari Yojana also, EV financing also. These are the small chunks which are adding to the renewable segment. Now coming to this minerals, we are there, we have customers who are dealing in all those commodities. We are ready to explore the funding opportunities in those commodities to those customers who are into manufacturing lines. We will try to avoid the customers who are into speculative trade in these commodities. Sir, thank you for answering all my questions, and good luck for the year. Thank you, Sushili. Thank you. Thank you. Thank you, sir. The next question that we have is from Mr. M.B. Mahesh. You could unmute yourself. Hi. I just want one question, sir. Can you give us the SMA 0, 1, and 2 for the overall bank as well? What you've given is only INR 1 crore. You've given us for INR 1 crore and above. Can you give us for the entire portfolio? I think if I have to give a full number, it should be in the range of INR 5,000 crore. It should be in the range of INR 5,000 crore. Can you split this between SMA 0, 1, and 2? Take the other bank also. See, SMA 0, 1, 2, if you ask me, SMA 0 should be more than 50% should be in the SMA 0, and around 50% should be in SMA 1 and 2. The number which you said, sir? Sorry, I'm just trying to. Sorry? What is the number that you said? The overall number, INR 5,000 crore. Overall number should be, I don't have a just number. It should be in the range of, I think, INR 5,000 or INR 6,000. It should be in this range only. 5,000. OK. The second question, sir, on this itself, as per your understanding, the movement of this provisions on the when it's implemented in 2020. Sorry, we are not able to hear you. Volume, can you increase volume? When you are just checking on the provisions that you're creating today, and if there is any shortfall, the provision goes through the P&L or it goes through the net worth? When you are doing this one-time transition. If we make provision, it goes to the P&L. If we make provision, it goes to the P&L on advances and wherever we make the provision. See, the regulator has given a time period of close to about four years for implementation. Yes. The question that we are asking is, if there is a shortfall, do you have to charge it to the P&L when the balance sheet opens in 2028, or does it go through the net worth as an adjustment on reserves? Okay. During that time, no, the entire amount will not go to P&L. The entire amount will go to the P&L, and then it will be adjusted to the capital. Capital. Capital will be given. OK. The last question, sir, do you have any excess provision outside of this, outside of standard assets? Excess provision. Yeah, excess provision we have kept. See, in total, we have around INR 1,000 crore of excess provision, which is by way of a COVID-19, INR 530 crore, and around INR 460 crore towards ECL, which we have captured this time in our notes also. It is declared in our notes that around INR 1,000 crore is additional provision over and above RBI mandated provision that is lying in our books. OK. Perfect. Last question, on the tour, what will be the outstanding stock of written off or technically written off, and your current expectation of recovery from that book? See, total written off, 2024, 2025. is your expectation of recovery from this? See, recovery is a very number. Giving out of that number will be difficult because recovery number we are giving every year based on our assessment at what level of resolution of that asset is. When we look at our technical write-off, it is around INR 26,000 crore currently. INR 24,000 is low. INR 26,000 is TW portfolio. Perfect, sir. Done. Thank you. Thank you, sir. Ladies and gentlemen, that was the last question for the day. Now I would like to hand over the call to the management for the closing remarks. Thank you very much to all of our analysts and investors who have taken out time to join the conference call post half-yearly results for September 2025. I wish you all happy Diwali. I can again ensure to all of you that the bank is doing well. We have been improving our performance in various parameters on a quarter-on-quarter basis. Business growth in various segments is well proportionate across all segments. Deposit growth at the bank has started improving. Also, in asset quality parameters, considerable improvement is there. It is a sustained improvement on a quarter-on-quarter basis. Our team will continue to work towards further improvement in the coming quarters. Thank you very much. Thanks, sir.