Reports On Company: SBI
SBI has set new standard in banking excellence. Buy for Target Price of Rs. 673 (45% Upside) | |
Company: | SBI |
Brokerage: | ICICI Securities |
Date of report: | June 11, 2022 |
Type of Report: | Result Update |
Recommendation: | Buy |
Upside Potential: | 45% |
Summary: | SBI has set new standard in banking excellence: SBI exited FY22 with 13.9% RoE and 0.67% RoA aided by growth build-up, GNPAs at a decadal low, slippages at <1%, credit cost at 55bps and steady margin profile. Improved visibility on asset quality with ‘new normal’ credit cost of 1%, credit growth of 13%/15% for FY23E/FY24E, asset resolution and stable NIMs will drive RoE to >16% by FY23E/FY24E and valuations to 1.5x Sep’23E book. Maintain BUY with an unchanged target price of Rs673. |
Full Report: | Click here to view full post with link to download pdf file |
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