Business outlook steady; internal accruals to support growth momentum

12 Dec 2023
5 Min read 
  • State Bank of India (SBIN) is well positioned to absorb the impact of increased risk weight by RBI.
  •  SBIN aims for sustainable RoA/RoE of ~1.2%/20%.
  •  Loan growth momentum remains healthy, with a focus on asset quality.
  •  Margins expected to be range-bound with a slight downward bias.
  •  Asset quality remains robust, with controlled credit costs.
  •  SBIN aims to deliver sustainable RoA of ~1.2% and RoE of ~20%.
  •  Valuation and view: Reiterate BUY with a target price of INR700.
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