State Bank of India reported a 20% year-on-year rise in consolidated net profit to ₹25,361 crore for the September quarter, helped by gains from stake sales in SBI Funds Management and NSE, while loan growth remained strong.
Mumbai, November 3 — State Bank of India (SBI) reported a 20% jump in consolidated net profit to ₹25,361 crore for the second quarter of FY27, supported by gains from stake sales in its mutual fund arm and NSE through IPOs.
On a standalone basis, India’s largest lender posted a 14% increase in net profit to ₹23,038 crore.
SBI’s core net interest income (NII) rose 14.69% to ₹49,143 crore, backed by a 17.84% increase in gross advances.
The bank’s net interest margin stood at 2.94%, while domestic NIM improved 11 basis points sequentially to 3.11%.
Chairman C S Setty said SBI expects to maintain its domestic NIM above the 3% level going forward.
The bank retained its FY27 growth targets, expecting credit growth of 14-15% and deposit growth of 10-11%.
Domestic retail advances increased 14.54%, including an 11.94% rise in home loans, while domestic corporate advances grew 16.12%.
Managing Director Ashwini Kumar Tewari said SBI currently has a corporate loan pipeline of ₹7.8 lakh crore across a diverse range of industries.
The bank’s asset quality also improved during the quarter.
Fresh slippages declined to ₹5,227 crore, while the gross non-performing assets ratio improved to 1.39% as of September 30, 2026.
Overall provisions stood at ₹4,217 crore, compared with ₹5,400 crore in the year-ago quarter.
SBI said it would need to provide around ₹19,500 crore for its transition to the expected credit loss-based system.
The quarter also included significant gains from SBI’s investments.
The lender booked a ₹7,288 crore gain from the stake sale in SBI Funds Management’s IPO and another ₹2,800 crore gain from the NSE stake sale.
Despite these gains, non-interest income declined nearly 5% to ₹19,066 crore.
SBI’s overall capital adequacy ratio stood at 16.09% as of September 30, compared with 15.67% in the previous quarter.
The bank’s shares ended Tuesday’s session 1.77% lower at ₹969.55 on the BSE.
