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The banking sector is on a roll these days. The Nifty Bank Total Return Index (TRI) is up 20.6 per cent year-to-date (YTD). The Nifty PSU Bank TRI has clocked a blockbuster gain of 55.7 per cent YTD. Actively-managed banking and financial services funds are up 10.9 per cent on average YTD.
Sound fundamentals
The improved performance of banking and financial services funds can be attributed to positivity in all the factors that drive the performance of banking stocks: growth, profitability, asset quality and balance sheet strength.
