SBI | JEFFERIES
Brokerage View
- Recommendation: BUY.
- Target Price: ₹1,320.
- SBI remains one of Jefferies' top picks.
Growth Strategy
- SBI plans to scale its Self-Employed & Professionals platform from next year.
- Deeper-market products for consumer and commercial loans also targeted.
- Will leverage subsidiary SBOSS with 8,000+ FOS.
- SBOSS brings LMS, technology platforms and collections capabilities.
- Addressable loan market estimated at ₹40-45 lakh Cr.
- Additional opportunity exists across fee and deposit pools.
Key Takeaway
- Deeper-market expansion could support loan growth.
- Technology and distribution capabilities may improve risk-adjusted returns.
- Jefferies remains positive on SBI's long-term growth opportunity
August 28, 2026 85
