Noida, Aug 7 (APAC Media): State Bank of India (SBI) reported a 10% year-on-year increase in consolidated net profit at Rs 21,121 crore for the first quarter of financial year 2026-27, compared with Rs 19,160 crore in the year-ago period.
The country’s largest lender posted a strong growth in net interest income (NII), which rose 14.88% year-on-year to Rs 46,992 crore in Q1FY27 from Rs 40,907 crore in the corresponding quarter last year.
SBI said its margins and asset quality improved during the quarter. The domestic net interest margin (NIM) increased to 3% in Q1FY27, gaining 7 basis points from the previous quarter, while the whole bank NIM stood at 2.86%, up 5 basis points sequentially.
On the lending front, the bank’s whole bank advances grew 18.63% year-on-year during the quarter, while domestic advances increased 18.15%. Advances from foreign offices rose 21.38% in rupee terms and 9.97% in dollar terms.
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The bank’s Retail, Agriculture and MSME (RAM) portfolio recorded 18.20% year-on-year growth, with all three segments reporting double-digit expansion.
Agricultural advances grew 25.43%, SME advances increased 22.33%, and retail personal loans rose 15.15%. Corporate advances also registered an 18.05% annual growth.
Deposits increased 9.73% year-on-year, supported by a 9.30% rise in CASA deposits. The CASA ratio stood at 39.24% as of June 30, 2026, while retail term deposits grew 14.39% during the quarter.
Asset quality showed further improvement, with the gross non-performing asset (GNPA) ratio declining by 36 basis points year-on-year to 1.47%. The net NPA ratio improved to 0.38%, down 9 basis points from the previous year.
SBI’s provision coverage ratio (PCR) stood at 74.20%, while PCR including advances under the collection account (AUCA) was 91.82%. The slippage ratio improved by 18 basis points year-on-year to 0.57% in Q1FY27, while credit cost for the quarter was at 0.27%.
The bank maintained a strong capital position, with its Capital to Risk Weighted Assets Ratio (CRAR) at 15.67% at the end of the first quarter.
SBI reported continued momentum in digital banking adoption, with over 64% of savings bank accounts opened digitally through its YONO platform during the quarter. The share of alternate channels in overall transactions also rose to 98.8% in Q1FY27, up from 98.6% in the same period last year.
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