State Bank of India – Better is the Only Way

Post somewhat disappointing results from India’s Largest Bank, the State Bank of India analysts believe that going forward, the bank has to only get better, though it maybe gradual process.

SBI’s headline profits were 5% below our (and consensus estimates); operationally too, it lacked meaningful direction. While there are signs of improvement – expansion in net interest margins, further improvements in deposit mix and healthy fee income growth. (more…)