Large PSU banks like State Bank of India, Bank of Baroda, Canara Bank are already trading at close to 1 price to book value. Peak valuations for these banks had hit a high of around 1.5 times book around fiscal year 2012 and 2014. Mid-sized and small banks are currently trading at 0.5-0.7 time price to book and had touched a high of 1 times book around 2014. Bank Nifty has gained around 28% whereas PSU banks were up 74% in the last six months (as of December 21, 2022), ICICI Securities said in a report.from Industry-Economic Times
Read The Rest:economictimes...
