MUMBAI — State Bank of India (SBI), the nation’s largest lender, today announced its financial results for the first quarter ended June 30, 2026 (Q1 FY27), recording its highest-ever quarterly net profit of ₹21,121 crore, up 10.23% year-on-year. The strong earnings momentum was driven by robust operating profit, which rose 9.77% YoY to ₹33,529 crore, and a 14.88% YoY growth in Net Interest Income (NII) to ₹46,992 crore. The bank maintained healthy profitability metrics with a Return on Assets (ROA) of 1.11% and a Return on Equity (ROE) of 17.87%. Domestic Net Interest Margin (NIM) stood at 3.00%, expanding by 7 basis points over Q4 FY26, while Whole Bank NIM improved by 5 basis points sequentially to 2.86%.
Achieving a historic operational milestone, SBI’s total business crossed ₹110 lakh crore, with total deposits exceeding ₹60 lakh crore and advances surpassing ₹50 lakh crore. Whole Bank Advances registered an 18.63% YoY expansion, supported by broad-based demand across sectors. The Retail, Agriculture, and SME (RAM) segments remained key drivers, growing by 18.20% YoY, led by a 25.43% surge in Agriculture advances and a 22.33% growth in SME loans. Corporate advances grew 18.05% YoY, while foreign offices’ advances expanded 21.38% YoY in rupee terms. On the liability side, Whole Bank Deposits grew 9.73% YoY, supported by a 14.39% increase in Retail Term Deposits. The bank maintained a strong CASA ratio of 39.24%, with CASA deposits growing 9.30% YoY.
The bank’s asset quality reached its best levels in over two decades, as the Gross Non-Performing Asset (NPA) ratio improved to 1.47% and the Net NPA ratio declined to 0.38%. Slippage ratio for the quarter improved by 18 basis points YoY to 0.57%, while credit costs remained benign at 0.27%. SBI’s Provision Coverage Ratio (PCR) stood at 74.20%. Capital adequacy remained well above regulatory requirements, with the Capital Adequacy Ratio (CAR) improving by 104 basis points YoY to 15.67%. On the digital front, over 64% of new savings accounts were opened through the YONO platform during the quarter, with alternate delivery channels accounting for 98.8% of total transactions. Additionally, the registered user base on the YONO platform surpassed 10.5 crore.
Commenting on the performance, Shri C.S. Setty, Chairman, State Bank of India, stated that the bank’s strategic direction remains guided by its core philosophy of "Digital First, Customer First, and Nation Always." He highlighted key digital and technological interventions, including the expansion of the SARAL process re-engineering project, the introduction of 'YONO Ji'—an Agentic AI-powered virtual assistant for commercial clients—and the extension of the MSME Dream engine to cover SME loans up to ₹10 crore. He also noted the predictive stress monitoring platform PRISM for risk management, as well as the successful listing of subsidiary SBI Funds Management Limited during the quarter as a major value-creation milestone for the SBI Group.