- SBI reported a net profit of Rs 21,028 crore in Q3 FY26, up 24.5% YoY
- Net Interest Income rose 9% YoY to Rs 45,190 crore, slightly beating estimates
- Gross NPA ratio improved to 1.57% from 1.73% in the previous quarter
State Bank of India reported a net profit of Rs 21,028 crore in the December quarter of the financial year ending March 2026, representing a 24.5% jump from a year ago period and beating the street estimate of Rs 17,809 crore.
It was a strong quarter for the lender, with profit and asset quality metrics beating estimates while sequential provisioning came down. Net interest margins, at 3%, were in line with street estimates.
The bank's Net Interest Income (NII) registered growth of 9% on a year-on-year basis, reaching Rs 45,190 crore. This is a slight beat compared to the street estimate of Rs 44,970 crore.
On the asset quality front, the bank showed significant improvement. The Gross Non-Performing Assets (NPA) ratio improved to 1.57% from 1.73% in the previous quarter, while net NPA improved from 0.42% to 0.39% during the same period.
The lender was able to trim its provisions 16.5% on a quarter-on-quarter basis to Rs 4,507 crore compared to Rs 5,400 crore in Q2.
State Bank Of India Q3 Highlights (Standalone, YoY)
Net profit up 24.5% at Rs 21,028 crore versus Rs 16,891 crore
- NII up 9% at Rs 45,190 crore versus Rs 41,446 crore
- Operating profit up 39.5% at Rs 32,862 crore versus Rs 23,551 crore
- Provisions down 16.5% at Rs 4,507 crore versus Rs 5,400 crore (QoQ)
- Gross NPA at 1.57% versus 1.73% (QoQ)
- Net NPA at 0.39% versus 0.42% (QoQ)
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