SBI becomes top-performing bank of 2021 so far

For SBI, the analyst community has rarely been this bullish on the counter. The improvement in asset quality and stellar earnings performance is the reason behind its recent bullishness.

SBI has had a stellar run on the bourses. A very few investors would have betted on SBI to be the top-performing bank in 2021.  

Beating its large private bank peers, SBI is up by 47.5 per cent on a YTD basis even as the stock gained 16 per cent in May alone. RBL Bank is up by 12.8 per cent, followed by ICICI Bank, which is up by 7.89 per cent in May so far. Federal Bank and IndusInd Bank are the other two banks that are up by more than 7 per cent each in May.  

Federal Bank has also been impressive on bourses in 2021 so far, gaining 27 per cent, followed by ICICI Bank, which is up by 22.79 per cent on a YTD basis.  

For SBI, the analyst community has rarely been this bullish on the counter. The improvement in asset quality and stellar earnings performance is the reason behind its recent bullishness. Also, the fact that the negative impact of the second wave of COVID-19 has been limited compared to the first wave on businesses across India, is helping banks outperform. 

Following is the list of the top-performing banks in 2021: