Balasubramanian positive on private sector banks

A Balasubramanian, CEO of Birla Sun life Asset Management is bullish on private sector banks including old private sector banks.

Balasubramanian told CNBC-TV18, "Old and large private sector banks largely focus on their retail loan book which has been growing steadily in excess of 21-22 percent with margin levels intact and hence enjoy high valuations. Public sector banks are bearing the brunt of the potential NPAs due to project delays in the infrastructure sector. Their valuations have been affected to the extent provision made for NPAs. As a fund house, we have been quite bullish on private sector banks including old private sector banks.