State Bank of India reports 20 per cent jump in Q2 consolidated net profit at ₹25,361 crore
Under the Emergency Credit Line Guarantee Scheme 5, the bank has extended loans of Rs 28,000 crore, which has been introduced to protect sectors impacted by the West Asia war
State Bank of India reported a 20 per cent jump in consolidated net profit to ₹25,361 crore for the September quarter of FY27, bolstered by gains from stake sales in its mutual fund subsidiary and the NSE through IPOs. On a standalone basis, the bank registered a 14 per cent rise in net profit alongside a 14.69 per cent increase in core net interest income. Management highlighted stable domestic net interest margins and consistent credit growth targets while asset quality witnessed a significant improvement with a lower gross NPA ratio.
State Bank of India reported a 20 per cent jump in consolidated net profit to ₹25,361 crore for the September quarter of FY27, bolstered by gains from stake sales in its mutual fund subsidiary and the NSE through IPOs. On a standalone basis, the bank registered a 14 per cent rise in net profit alongside a 14.69 per cent increase in core net interest income. Management highlighted stable domestic net interest margins and consistent credit growth targets while asset quality witnessed a significant improvement with a lower gross NPA ratio.
State Bank of India reported a 20 per cent jump in consolidated net profit to ₹25,361 crore for the September quarter of FY27, bolstered by gains from stake sales in its mutual fund subsidiary and the NSE through IPOs. On a standalone basis, the bank registered a 14 per cent rise in net profit alongside a 14.69 per cent increase in core net interest income. Management highlighted stable domestic net interest margins and consistent credit growth targets while asset quality witnessed a significant improvement with a lower gross NPA ratio.
State Bank of India (SBI) reported a 20 per cent jump in consolidated net profit of ₹25,361 crore for the September quarter of FY27, which was supported by gains through a stake sale in its mutual fund arm and NSE through IPOs.
On a standalone basis, SBI reported a 14 per cent rise in net profit at Rs 23,038 crore. The core net interest income too saw a hike of 14.69 per cent to Rs 49,143 crore on the back of a 17.84 per cent growth in gross advances and a slight compression in the net interest margin at 2.94 per cent.
According to PTI, Chairman C S Setty expressed contentment at the bank's ability to push up domestic NIMs by 0.11 per cent on-quarter to 3.11 per cent, and added that SBI will keep it above the 3 per cent mark going ahead as well. RBI's rate hikes alone will benefit the margin by 0.04-0.05 per cent. Setty said the bank is retaining its credit and deposit growth targets for FY27 at 14-15 per cent and 10-11 per cent, respectively.
SBI mobilised USD 10.9 billion of deposits under RBI's FCNR(B) concessional swap facility and gave loans of USD 8.83 billion to the diaspora depositors under the scheme's leverage facility. Domestic retail advances too grew 14.54 per cent during the quarter, including 11.94 per cent acceleration in home loans, while the domestic corporate advances grew 16.12 per cent.
Under the Emergency Credit Line Guarantee Scheme 5, the bank has extended loans of Rs 28,000 crore, which has been introduced to protect sectors impacted by the West Asia war, a senior official said, adding that it also includes some of the domestic airlines.
The non-interest income declined by nearly 5 per cent to Rs 19,066 crore during the quarter despite a Rs 7,288 crore gain from the stake sale in SBI Funds Management's IPO. Setty said the treasury operations had a major impact on the hardening yields.
It also booked a gain of Rs 2,800 crore on the NSE stake sale, and the IPO also helped through a revaluation of its investment value.
The fresh slippages came down to Rs 5,227 crore during the quarter, and gross non-performing assets ratio improved to 1.39 per cent as of September 30, 2026.
(With PTI inputs)