State Bank of India's standalone net profit rose 14.28% year-on-year to ₹23,038 crore, lifted by operational gains and a ₹7,290 crore exceptional gain from divesting shares in SBI Funds Management Ltd. Net interest income jumped 14.69% to ₹49,143 crore, helping domestic net interest margin widen 11 basis points sequentially to 3.11%. The lender also improved its capital position by selling a 0.65% stake in the National Stock Exchange during its initial public offering, crediting those proceeds directly to capital reserves. Despite these positive figures and an expanding loan book, the stock reversed earlier gains to finish 1.70% lower at ₹970.
Key points
Total deposits and loans continued to expand steadily, with the total loan book rising se…: Total deposits and loans continued to expand steadily, with the total loan book rising sequentially to ₹52.08 lakh crore.
Asset quality indicators improved broadly as the lender's credit costs dropped to 0.22% a…: Asset quality indicators improved broadly as the lender's credit costs dropped to 0.22% alongside a reduced slippage ratio.
Proceeds from divesting a 0.65% stake in the National Stock Exchange were allocated direc…: Proceeds from divesting a 0.65% stake in the National Stock Exchange were allocated directly to capital reserves.
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Shares of State Bank of India (SBI), the country's largest public sector lender, erased their intraday gains in Tuesday's trade on November 3, falling 1.70% to close at ₹970, even as the bank's September-quarter performance came in ahead of Street estimates.
The state-owned lender reported a 14.28% year-on-year (YoY) increase in standalone net profit to ₹23,038 crore for the second quarter ended September 30, 2026, supported by strong credit growth and a one-time gain from the sale of shares in its fund management subsidiary earlier in the year.
The bank had reported a net profit of ₹20,160 crore in the July-September quarter a year ago. Its net interest income (NII), which is the difference between interest earned on loans and interest paid on deposits, increased 14.69% YoY to ₹49,143 crore during the reporting quarter.
SBI's domestic net interest margin (NIM) expanded by 11 basis points from the preceding quarter to 3.11%.
SBI's loan book expanded 3.2% over the previous quarter to ₹52.08 lakh crore. Retail, agriculture, and MSME (RAM) advances grew 17.34% YoY, driven by 22.64% growth in agricultural loans,…
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