Mumbai, Nov 4 – State Bank of India (SBI), the country’s biggest lender, posted a 6.4 % jump in year‑on‑year consolidated net profit, reaching ₹21,504.49 crore for the second quarter of FY26.
The bank earned ₹20,219.62 crore in the same period a year earlier, so its profit grew by about ₹1.3 trillion.
On a standalone basis, SBI’s net profit climbed 10 % YoY to ₹20,159.67 crore, up from ₹18,331.44 crore in Q2 FY25. The lift comes from steady loan growth and better asset quality.
The bank’s net interest income (NII) – the gap between interest earned and paid – increased 3.3 % YoY to ₹42,984 crore, compared with ₹41,620 crore last year. However, its domestic net interest margin (NIM) fell to 3.09 % from 3.27 %, a drop of 18 basis points.
SBI’s operating profit hit ₹31,904 crore, up 8.9 % Year on Year from ₹29,294 crore in Q2 FY25.
Loan growth remained solid. Total advances rose 12.7 % YoY, and domestic advances grew 12.3 %. Retail loans jumped 15.1 %, powered by robust increases in SME, agriculture and personal loan segments: 18.8 %, 14.2 % and 14.1 % respectively.
Deposits also grew. Total deposits climbed 9.3 % YoY, while CASA deposits – the bank’s core current and savings accounts – rose 8.1 %. The CASA ratio stood at 39.6 % as of September.
Asset quality improved further. The gross non‑performing asset (NPA) ratio fell 40 points YoY to 1.73 %. Net NPA ratio eased to 0.42 %, down 11 points from the prior year. The provision coverage ratio (PCR) nudged up 13 points to 75.8 %.
In short, SBI continues to post solid profit growth, strong loan and deposit momentum, and cleaner asset quality this quarter.
Source: ianslive
Stay informed on all the latest news, real-time breaking news updates, and follow all the important headlines in world News on Latest NewsX. Follow us on social media Facebook, Twitter(X), Gettr and subscribe our Youtube Channel.
