Most of the banking stocks, including big names with NPAs under control like IndusInd Bank, Yes Bank and HDFC Bank are very much expensive. However, there are a few banking stocks in the private sector space that maybe good bets for the long term. Take a look.

Karur Vysya Bank

This stock has fallen from 52-week high levels of Rs 150 to Rs 100. The bank saw good performance for the FY 2017-18, wherein credit growth was robust at 11 per cent to Rs 45,973 crores.

The Current Account and Savings Account also grew by 11 per cent and so did the net interest income. The net interest margin also improved by 16 basis points at 3.86 per cent. On most parameters the bank did well.

However, the net profit at the bank did fall to Rs 346 crores from Rs 606 crores in the previous year ending March 31, 2017. The net NPA of the bank has shot up to 4.16 from 3.88 per cent in the previous year ending March 31, 2017. However, we do believe that the bank is adopting stringent measures for recovery and as economic momentum picks, it is in a position to reduce the NPAs.

After a sharp fall in the share price of Karur Vysya Bank, the stock looks attractive at the current levels of Rs 101. With a price to book at just 1.2 times and a likely EPS of Rs 7 for FY 2018-19, the shares are not too expensive at a p/e of 14 times one year forward earnings. Buy keeping a long term perspective in mind.

South Indian Bank

This is another good banking stock to own. The Bank had a good performance for FY 2017-18. During the period, advances at South Indian Bank rallied by a decent 17 per cent, while net profits were up 51 per cent at Rs 114 crores.

What is most interesting is that the bank has "zero" accounts in its watch list of large corporate loans.

In the coming years, the bank will increasingly lay an emphasis on retail lending. The focus would be on home loans, retail, SME and Non Resident Indians. The bank plans to granulize loan portfolio to spread out risk. It also plans to lay an emphasis on banking services for SME, Retail and Non Resident Indians.

South Indian Bank is also looking to aggressively grow its Current and Savings Account. The shares of the bank are available at a p/e of just 10 times one year forward earnings. Also, the dividend yield is at a pretty decent 3 per cent. Apart from this, the stock is now available at a 52-week low price of Rs 21.35. Buy the shares for long term gains.