SBI Q1 Net Profit Up 10% to Rs 21,121 Crore on Strong NII, Loan Growth
SBI's Q1 FY27 net profit rose 10.23% YoY to Rs 21,121 crore, with NII up 14.88% and gross NPA ratio improving to 1.47%.
State Bank of India (SBI), the country's largest lender, reported a 10.23% year-on-year increase in standalone net profit to Rs 21,121 crore for the first quarter of FY2026-27. The bank had posted a profit of Rs 19,160 crore in the corresponding quarter last year. Sequentially, profit grew 7.30% from Rs 19,684 crore in the March quarter.
The earnings were supported by a 14.88% jump in net interest income (NII) — the difference between interest earned and paid — which rose to Rs 46,992 crore from Rs 40,907 crore a year earlier. Operating profit for the quarter grew 9.77% to Rs 33,529 crore.
SBI's domestic net interest margin (NIM) stood at 3% in Q1 FY27, improving 7 basis points from 2.93% in the preceding quarter, though marginally lower than 3.01% recorded in the year-ago period.
Credit growth remained robust, with gross advances rising 18.63% year-on-year to Rs 50.47 lakh crore as of June 2026. Domestic advances grew 18.15%, while corporate advances increased 18.05%. Retail, agriculture and MSME (RAM) advances grew 18.20%, with agriculture advances up 25.43%, SME advances up 22.33%, and retail personal advances up 15.15%.
Deposits grew 9.73% year-on-year to Rs 60.06 lakh crore, with CASA deposits up 9.30%. The CASA ratio stood at 39.24% as of June-end. The bank's overall business crossed Rs 110 lakh crore during the quarter.
Asset quality improved further. The gross non-performing asset (NPA) ratio declined 36 basis points year-on-year to 1.47% from 1.83%, while the net NPA ratio improved 9 basis points to 0.38% from 0.47%.
SBI also highlighted that over 64% of savings bank accounts were opened digitally through its YONO platform during the quarter, with alternate channels accounting for approximately 98.8% of total transactions.