India's largest lender posted stronger-than-expected June quarter earnings, supported by robust loan growth
Domestic and whole-bank net interest margins improved sequentially, while credit costs remained contained at 0.27%
The results also reflected improving asset quality and healthy capital buffers
Country's largest lender State Bank of India (SBI) reported a 10.23% year-on-year increase in standalone net profit to ₹21,121 crore for the quarter ended June 30, 2026, aided by higher core income and steady loan growth, according to the bank's financial results released on Friday.
A key measure of core banking income, SBI's net interest income (NII) increased 14.88% year-on-year to ₹46,992 crore from ₹40,907 crore a year earlier.
1 August 2026
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Operating profit also rose 9.77% to ₹33,529 crore, the bank said.
SBI said its overall business crossed ₹110 trillion during the quarter, with deposits exceeding ₹60 trillion and advances crossing ₹50 trillion.
Gross advances grew 18.63% year-on-year to ₹50.47 lakh crore, while deposits increased 9.73% to ₹60.06 lakh crore, according to the SBI filing.
Growth remained broad-based across segments, with agriculture advances rising 25.43%, SME loans 22.33%, retail personal advances 15.15%, and corporate advances 18.05%.
SBI also reported an improvement in profitability ratios. Domestic net interest margin (NIM) stood at 3.00%, improving by 7 basis points over the previous quarter, while whole-bank NIM improved to 2.86% from 2.81%.
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Asset Quality Improves
Asset quality continued to improve during the quarter, SBI said. Gross non-performing assets (GNPA) ratio declined to 1.47% from 1.83% a year earlier and 1.49% in the March quarter, while the net NPA ratio improved to 0.38% from 0.47% a year ago.
Gross NPAs stood at ₹74,272 crore compared with ₹73,452 crore in the previous quarter, while net NPAs rose marginally to ₹19,158 crore from ₹18,830 crore.
The bank's provisions increased to ₹5,046.77 crore during the quarter from ₹2,872.16 crore in the preceding three months.
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Following the earnings announcement, SBI shares were trading about 2.5% higher at ₹1,111.8, extending the stock's gains to around 13% so far this year, though still below their record high of ₹1,234.
