汇丰银行-印度银行业-20170801-hsbc-indiabanks：savingmargins.pdfVIP

Flashnote 1 August 2017   India Banks EQUITIES COMMERCIAL BANKS  Saving margins India SBI announces a surprise 50bps cut in its savings deposit rate Sachin Sheth* Senior Bank Analyst This could be accretive to margins provided it does not follow HSBC Securities and Capital Markets (India) Private Limited sachinsheth@hsbc.co.in with an MCLR cut; PSU banks may follow suit +9122 2268 1224 Tejas Mehta* We retain our Hold rating on the stock as visibility of an asset Analyst quality recovery remains hazy HSBC Securities and Capital Markets (India) Private Limited tejasmehta@hsbc.co.in +9122 2268 1243 State Bank of India [SBIN IN, INR299.10, Hold] announced a surprise 50bps cut Aseem Pant*