SBI Q1FY26 results: Net profit up 10.2% to ₹21,121 crore on strong loan growth
Mumbai: State Bank of India (SBI) reported a 10.2% year-on-year increase in standalone net profit for the first quarter of fiscal 2026. The country’s largest lender posted a profit after tax of ₹21,121 crore for Q1FY26, compared to ₹19,160 crore in the same quarter last year.
The profit growth was driven by a healthy rise in core income. SBI’s net interest income jumped 15% YoY to ₹46,992 crore in the reporting quarter. Net interest margin, however, saw a marginal dip of 1 basis point to 3%. One basis point is equal to one-tenth of a percentage point.
Loan growth remained robust for the public sector bank. Gross advances rose 18.6% YoY to ₹50.5 lakh crore, reflecting strong demand across retail and corporate segments. On the liabilities side, deposits stood at ₹60 lakh crore, registering a growth of 9.7% YoY from ₹54.7 lakh crore in Q1 of the previous fiscal. The growth in advances outpaced deposit growth during the quarter.
Overall, SBI’s Q1 numbers indicate steady earnings momentum backed by higher interest income and credit expansion, even as margins remained largely flat.
