In its latest outlook on Indian PSU banks, HSBC said the sector is entering a phase of structurally stronger growth following a prolonged clean-up cycle. "PSBs are well placed to gain market share given improved capital positions, healthier balance sheets and competitive pricing," the report
Seven of the 12 biggest Indian banks that reported a decline in their market cap in the January-March 2025 quarter were state-owned, according to S&P Global Market Intelligence data and analysis.