Goldman Sachs has revised the EPS estimates of PSU Banks – SBI, PNB and BOB. The 3Q2008 results of these banks reflected strong demand for new loans, significant improvement in their pricing power for loans leading to higher NIM and significant gains on their bond trading portfolios due to rise in bond prices.
SBI:
SBI is expected to report an EPS of Rs 132.80 and Rs 147.35 for FY09 and FY10 respectively.
PNB:
Punjab National Bank is expected to report an EPS of Rs 51 and Rs 68 for FY09 and FY10 respectively.
BOB:
Bank of Baroda is expected to report an EPS of Rs 32 and Rs 36.02 for FY09 and FY10 respectively.