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Motilal Oswal Report
State Bank of India continues to strengthen its balance sheet and improve return ratios. The focus remains on building a superior loan book, while maintaining strong underwriting as evident in lower stressed assets and higher provision coverage ratio.
This has aided in a sustained turnaround in operating performance and will drive return ratios to long-term average and possibly higher.
With a high share of floating-rate loans at 75%, the bank remains well-placed to ride the rising interest rate environment. While retail helped clock growth in loans in recent quarters, SBI is witnessing a sharp recovery in corporate book, reflected by a improving utilisation ratios.
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