Name: Latest research reports of State Bank of India authored by ICICI Securities Limited and published by - Trendlyne research reports.
Item: State Bank of India
Rating: 5
Author: ICICI Securities Limited

Summary	Date	Stock	Author	LTP	Target	Price at reco (Change since reco%)	Upside(%)	Type	Report	Discuss
	05 Aug 2023	SBI	ICICI Securities Limited	876.95	730.00	573.30 (52.97%)	Target met	Buy	pdf post cache	Broker Report Strong headline PAT and RoA but internals soft; we see ~1% RoA for FY24 ICICI Securities Limited Driven by strong treasury contribution (INR 38bn) and controlled non-staff opex, State Bank of India (SBI) has reported higher than estimated Q1FY24 headline PAT at INR 168.8bn with stable RoA at 1.22% (vs 1.23% QoQ), though result internals were soft. pdf Copy Link Share on Share on Share on Share on Alert
	05 Aug 2023	SBI	Motilal Oswal	876.95	700.00	573.30 (52.97%)	Target met	Buy	pdf post cache	Broker Report Margin declines 27bp QoQ; Other income drives earnings Motilal Oswal pdf Copy Link Share on Share on Share on Share on Alert
	01 Aug 2023	Bank of India	Bonanza	124.30	122.00	85.80 (44.87%)	Target met	Buy	pdf post cache	Broker Report On expected-line; one off income boosted net income Bonanza BOI reported core revenue on expected line however one-off income has helped bank to deliver strong growth in earnings. Loan book and deposits have grown strongly on sequential basis. We believe bank is moving in right direction by growing high yielding retail loans faster and on deposit side low yielding demand deposits have grown faster would help bank to deliver on NIM guidance. pdf Copy Link Share on Share on Share on Share on Alert
	31 Jul 2023	Bank of India	Sharekhan Reco Target	124.30	102.00	83.65 (48.60%)	Target met	Buy	pdf post cache	Broker Report Bank of India Sharekhan pdf Copy Link Share on Share on Share on Share on Alert
	24 Jul 2023	Canara Bank	Motilal Oswal Target	125.22	425.00	339.70 (-63.14%)	Target met	Buy	pdf post cache	Broker Report Healthy performance; RoA to expand further Motilal Oswal pdf Copy Link Share on Share on Share on Share on Alert
	10 Jul 2023	Bank of India	Bonanza	124.30	122.00	78.25 (58.85%)	Target met	Buy	pdf post cache	Broker Report Shifting gears to drive ROA expansion Bonanza Bank of India (BOI) is a fundamentally strong bank with a robust balance sheet led by best-in-class CET-I and higher PCR (legacy stress largely provided). BOI’s earnings trajectory started improving on the back of lower credit cost, margin expansion and growth coming back. pdf Copy Link Share on Share on Share on Share on Alert
	03 Jul 2023	Indian Bank	ICICI Direct Reco Target	768.15	410.00	297.85 (157.90%)	Target met	Buy	pdf post cache	Broker Report Indian Bank ICICI Direct pdf Copy Link Share on Share on Share on Share on Alert
	17 Jun 2023	SBI	Motilal Oswal	876.95	700.00	571.25 (53.51%)	Target met	Buy	pdf post cache	Broker Report Balance sheet strengthens further; RoA/RoE surpass long-term average Motilal Oswal pdf Copy Link Share on Share on Share on Share on Alert
	08 Jun 2023	SBI	Ventura Target	876.95	943.00	589.00 (48.89%)		Buy	pdf post cache	Broker Report STATE BANK OF INDIA Ventura Breaking the Sarkari bank' stereotype pdf Copy Link Share on Share on Share on Share on Alert
	25 May 2023	SBI	Geojit BNP Paribas Reco Target	876.95	684.00	581.25 (50.87%)	Target met	Buy	pdf post cache	Broker Report STATE BANK OF INDIA Geojit BNP Paribas pdf Copy Link Share on Share on Share on Share on Alert
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Strong headline PAT and RoA but internals soft; we see ~1% RoA for FY24

Margin declines 27bp QoQ; Other income drives earnings

On expected-line; one off income boosted net income

Bank of India

Healthy performance; RoA to expand further

Shifting gears to drive ROA expansion

Indian Bank

Balance sheet strengthens further; RoA/RoE surpass long-term average

STATE BANK OF INDIA

STATE BANK OF INDIA

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