Thursday, 13 November 2008

Expect good upside in SBI: ULJK Securities

ULJK Securities believes that SBI’s provides a good potential for an upside in the near to medium term period in its November 12, 2008. "The net profit of the Bank has gone up by 40.2% YoY and stands at Rs 22597.1 million. This impressive growth in the net profit is on the back of a strong growth in the business mix and improvement in the NIM margin. The Bank is able to maintain its NIM margin at 3.16% during the quarter on the back of the high growth in advances, which increased the interest from the advances. Overall, the performance of the bank is impressive with an ROA of 1.13% as compared to 0.99% in Q2FY08. We believe the SBI’s stock provides a good potential for an upside in the near to medium term period,“ says ULJK Securities' research report.

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Source: Moneycontrol

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