SBI profit rises 14.28% to 23,038 crore rupees in second quarter
Key Facts
State Bank of India (SBI) reported standalone net profit of 23,038 crore rupees in the second quarter of fiscal 2026-27, up 14.28% year on year, according to its results statement issued on 3 November 2026. Profit was 20,160 crore rupees in the year-earlier period. Net interest income, the difference between lending revenue and the cost of deposits, rose to 49,143 crore rupees, up 14.69% year on year and 4.58% from the previous quarter. Operating profit also increased to 34,226 crore rupees, up 7.28% year on year and 2.08% quarter on quarter. The quarterly comparison shows continued growth in interest income and operating profit, alongside higher annual profit.
Domestic net interest margin was 3.11% for the quarter, up 3 basis points from a year earlier and 11 basis points from the previous quarter, when it was 3.00%. This came alongside growth in net interest income, which reached 49,143 crore rupees from 46,992 crore rupees in the first quarter of the current fiscal year. The trend reflects an improvement in domestic margin year on year and quarter on quarter, alongside higher interest income. The domestic margin figure alone does not describe all of the bank's margin measures. Operating figures show operating profit at 34,226 crore rupees, compared with 33,529 crore rupees in the previous quarter.
On the balance sheet, gross advances stood at 52,08,344 crore rupees on 30 September 2026, up 17.84% from a year earlier. Deposits reached 62,77,919 crore rupees, up 12.27% over the same period. Advances therefore grew faster than deposits in the bank's year-on-year comparison. This expansion in lending and deposits provides context for the scale of the bank's business at the end of September. The figures are a snapshot as of that date, while the growth rates measure change from September 2025.
Asset quality indicators improved from a year earlier: the gross non-performing loan ratio fell to 1.39% from 1.73%, and the net ratio declined to 0.36% from 0.42%. Provision coverage excluding write-offs was 74.43%, while it was 91.83% including write-offs. The fresh slippage ratio was 0.41%, and the cost of credit was 0.22% during the quarter. Loan-loss provisions also fell to 2,759 crore rupees, down 33.23% year on year and 17.86% from the previous quarter, when they were 3,359 crore rupees. The figures combine lower non-performing loan ratios with a decline in loss provisions against both the annual and quarterly comparison periods.
For the quarterly comparison, SBI had reported standalone net profit of 21,121 crore rupees in the first quarter of fiscal 2026-27, up 10.23% from 19,160 crore rupees in the first quarter of the previous fiscal year. Second-quarter results put profit at 23,038 crore rupees, with year-on-year growth of 14.28%. The results for the two periods provide a picture of quarterly profit trends and the bank's year-on-year comparisons. The available information did not include documented details of stake-sale gains that could be included in an explanation of these results. Net interest income, operating profit and asset-quality indicators therefore remain the detailed figures available here to describe quarterly performance.
On economic indicators, India's Ministry of Statistics and Programme Implementation set 30 November 2026 as the date for releasing the quick estimate of the Index of Industrial Production for October. The next release is scheduled after the quarter ended in September, but the available data do not link the index to SBI's results as a driver of earnings. The bank also scheduled its analyst meeting on second-quarter results for 3 November 2026 at 5:15 p.m. The two dates allow for tracking industrial activity data and the discussion of the bank's results after their release. The available information does not include a market reaction to the second-quarter results announcement.