Mumbai: State Bank of India (SBI) reported a strong financial performance for the quarter ended June 30, 2026, with consolidated net profit after minority interest rising 13.7% year-on-year to ₹24,113 crore, compared with ₹21,201.47 crore in the corresponding quarter last year.
On a standalone basis, SBI’s net profit increased 10.2% to ₹21,121.22 crore, from ₹19,160.44 crore in Q1 FY2025.
The bank’s Central Board approved the financial results at its meeting on August 7. The results were subjected to a limited review by the Statutory Central Auditors, who issued an unmodified opinion.
SBI Standalone Revenue and Profit Rise in Q1 FY2026
SBI recorded growth across several key financial parameters during the quarter.
Standalone Q1 FY2026 Highlights
- Total Income: ₹1,43,819.15 crore, up 6.3%
- Interest Earned: ₹1,27,896.46 crore, up 8.5%
- Net Profit: ₹21,121.22 crore, up 10.2%
- Basic EPS: ₹22.88, compared with ₹21.47 a year ago
- Gross NPA: 1.47%, down from 1.83%
- Net NPA: 0.38%, down from 0.47%
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Consolidated Net Profit Rises 13.7%
SBI’s consolidated performance, which includes its subsidiaries, joint ventures and associates, also showed strong growth.
Consolidated Q1 FY2026 Highlights
- Total Income: ₹1,80,061.86 crore, up 7.8%
- Net Profit: ₹24,113 crore, up 13.7%
- Basic EPS: ₹26.12, compared with ₹23.76
- Capital Adequacy Ratio: 15.67%, up from 14.63%
The consolidated results underline the continued contribution of SBI’s broader financial services ecosystem.
SBI Gross Advances Near ₹50 Lakh Crore
SBI’s gross advances stood at ₹49,92,003.69 crore as of June 30, 2026, reflecting strong credit growth and bringing the bank’s gross advances close to the ₹50 lakh crore milestone.
The bank continues to expand lending across retail, corporate and wholesale banking segments while maintaining focus on asset quality.
Asset Quality Improves to Lowest NPA Levels in Over Two Decades
SBI reported a significant improvement in asset quality during the quarter and said its NPA ratios were at their lowest levels in more than two decades.
The bank’s:
- Gross NPA: 1.47%, compared with 1.49% in the preceding quarter and 1.83% a year earlier
- Net NPA: 0.38%, unchanged from the previous quarter
- GNPA amount: ₹74,272.06 crore
- NNPA amount: ₹19,158.49 crore
- Provision Coverage Ratio: 74.20%
- PCR including AUCA: 91.82%
The improvement in asset quality was also reflected in the bank’s credit metrics.
The credit cost declined to 0.27% from 0.47% a year ago, while the slippage ratio improved to 0.57% from 0.75%.
NPA Provisions Decline Year-on-Year
SBI’s provisions for non-performing assets stood at ₹3,359 crore in the June 2026 quarter, down from ₹4,934 crore in the same quarter last year.
However, provisions were slightly higher than the ₹3,140 crore recorded in the preceding quarter.
Capital Adequacy Ratio Stands at 15.67%
SBI’s overall Capital Adequacy Ratio (CAR) stood at 15.67% as of June 30, 2026, compared with 14.63% a year earlier.
The bank’s core capital buffer stood at 12.89%, providing a strong capital base to support future credit growth.
SBI Transfers ₹11,522 Crore IFR to General Reserve
Following the Reserve Bank of India’s May 18, 2026 directions, the requirement for maintaining an Investment Fluctuation Reserve (IFR) was discontinued.
SBI transferred its entire IFR balance of ₹11,522.30 crore to the General Reserve during the quarter.
The transfer increases the bank’s general reserves and strengthens its overall balance sheet.
Other Key Financial and Regulatory Developments
SBI disclosed several other developments in its Q1 results.
- The bank estimated a liability of ₹284.89 crore for unhedged foreign currency exposures.
- NPAs worth ₹247.98 crore were transferred to Asset Reconstruction Companies (ARCs).
- NPAs worth ₹49.60 crore were transferred to permitted transferees on an assignment basis.
- Co-Lending Arrangements stood at ₹907.53 crore, with a weighted average return on interest of 19.55%.
- SBI received 138 investor complaints during the quarter, all of which were resolved, leaving no complaints pending at the end of June.
Corporate and Retail Banking Drive Segment Performance
SBI’s corporate/wholesale and retail banking businesses remained major contributors to its segment performance.
Segment Performance
- Corporate/Wholesale Banking: Revenue ₹40,019.92 crore; Profit Before Tax ₹6,715.85 crore
- Retail Banking: Revenue ₹29,757.03 crore; Profit Before Tax ₹5,591.78 crore
- Others: Revenue ₹8,883.30 crore; Profit Before Tax ₹1,011.07 crore
Auditors Give Unmodified Review Opinion
A consortium of 11 firms led by R.G.N. Price & Co. conducted the limited review of SBI’s standalone and consolidated financial results.
The auditors issued an unmodified opinion, stating that nothing had come to their attention indicating any material misstatement or non-compliance with RBI requirements relating to income recognition, asset classification and provisioning.
For the standalone results, the auditors relied on review reports covering 30 branches, the Central Accounts Office, Global Market Unit and 20 foreign branches.
For the consolidated results, they relied on reports from other auditors covering 20 subsidiaries, five joint ventures and 12 associates.
Security Cover Certificate Submitted for Debt Securities
SBI also submitted a Security Cover Certificate for its listed unsecured non-convertible debt securities as of June 30, 2026.
Since the securities are unsecured, no security cover is required. The auditors certified that the financial covenants specified in the Debenture Trust Deed had been complied with.
What SBI’s Q1 Results Mean for Investors
SBI’s Q1 FY2026 performance reflects a combination of double-digit profit growth, improving asset quality, strong credit growth and healthy capital adequacy.
The sharp improvement in NPA ratios and lower credit costs indicate strengthening asset quality, while advances nearing ₹50 lakh crore highlight continued lending momentum. Going ahead, investors will closely track credit growth, NPA trends, margins and the performance of SBI’s subsidiaries.
About SBI
State Bank of India (SBI) is India’s largest public sector bank and one of the country’s most trusted financial institutions. Headquartered in Mumbai, SBI provides a wide range of banking and financial services, including retail banking, corporate banking, digital banking, investment services, and international banking operations.
