The BoD in RING announced in the Q3 report that it intends to propose to distribute 100% of the FY25 net profit, which in our view is the right thing to do given a lot of excess capital and we think it signals capital discipline in a challenging market for growth currently. Further, while we had preferred to see higher lending growth in RING than we are seeing right now, we think that capital discipline is on display also here as the bank prioritizes profitability rather than chasing growth in a ....
