Despite a nearly 5x jump in aggregate mcap since FY20, most coverage PSBs still trade at reasonable valuations of 0.8-1x forward P/B & 5-7x FY27E EPS, leaving room for further upside.
Bank of Baroda, Indian Bank lead state-owned lenders' strong credit expansion in April-June, while deposits grow at a slower pace
The roadmap will be based on broad themes of business growth, profitability, risk, customer service, operations, and capability building
Expects moderate improvement in profitability and asset quality stabilisation