CMP : 243
Target Price : 283
State Bank of India (SBI)s 2QFY2016 results have outperformed our as well as
street expectations. The PAT for the bank grew 25.1% yoy to Rs3,879cr, led by
healthy performance on all fronts.
Slippages dip, NIM improves, qoq
During 2QFY2016, the bank’s advances grew by 10.5% yoy, which is the highest
growth rate amongst the previous 5 quart..