SBI Posts Record Q1FY27 Net Profit of Rs. 21,121 Crore
Mumbai, Aug. 7 (TNT): State Bank of India (SBI) on Friday reported its highest-ever quarterly net profit of ₹21,121 crore for the quarter ended June 30, 2026 (Q1 FY27), registering a 10.23 per cent year-on-year growth, driven by higher operating profit and lower credit costs.
In a release, the country’s largest lender said its operating profit rose 9.77 per cent year-on-year to ₹33,529 crore, while Net Interest Income (NII) increased 14.88 per cent to ₹46,992 crore during the quarter. Domestic Net Interest Margin (NIM) improved to 3.00 per cent, while Whole Bank NIM stood at 2.86 per cent.
SBI said its total business crossed ₹110 lakh crore, with deposits exceeding ₹60 lakh crore and advances crossing ₹50 lakh crore.
Whole Bank advances grew 18.63 per cent year-on-year, led by strong growth in the Retail, Agriculture and MSME (RAM) segments, while deposits increased 9.73 per cent. Retail term deposits rose 14.39 per cent and the CASA ratio stood at 39.24 per cent as on June 30, 2026.
Asset quality improved further during the quarter, with the Gross NPA ratio declining to 1.47 per cent and the Net NPA ratio to 0.38 per cent, the lowest level in more than two decades, it said.
Credit cost stood at 0.27 per cent, while the Provision Coverage Ratio (PCR) was 74.20 per cent.
The Capital Adequacy Ratio (CAR) improved to 15.67 per cent, up 104 basis points year-on-year.
Commenting on the results, SBI Chairman C.S. Setty said the bank continued to pursue its strategy of “Digital First, Customer First and Nation Always.”
He said SBI expanded its SARAL process re-engineering initiative, introduced YONO Ji, an AI-powered virtual assistant for YONO Business, and extended its MSME Dream platform to cover SME loans up to ₹10 crore for faster credit decisions.
The Chairman said the bank has strengthened its risk management framework through PRISM, a predictive stress monitoring platform, while the successful listing of SBI Funds Management Ltd marked a key milestone for the SBI Group.
Highlighting its digital growth, SBI said more than 64 per cent of savings bank accounts were opened digitally through YONO during the quarter, while alternate channels accounted for 98.8 per cent of total transactions. YONO has over 10.5 crore registered users, and registrations on the newly launched YONO platform crossed five crore within six months of launch.
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