SBI Q2 results: India’s largest bank by assets, State Bank of India (SBI), on Tuesday, November 4, reported a 6.4 per cent year-on-year (YoY) rise in its consolidated profit at ₹21,504.49 crore for Q2FY26. The company’s profit was ₹20,219.62 crore in the same quarter last year.
On a standalone basis, the company’s profit came at ₹20,159.67 crore, up 10 per cent from ₹18,331.44 crore in the same quarter last year.
SBI Q2 earnings: Key highlights
1. Profitability
Net interest income (NII), the difference between interest earned on assets and interest paid on liabilities, came at ₹42,984 crore in Q2FY26 from ₹41,620 crore in Q2FY25, up 3.28 per cent YoY.
Domestic net interest margin (NIM) dropped 18 basis points to 3.09 per cent for the quarter under review from 3.27 per cent in the corresponding quarter of the previous financial year.
Operating profit for Q2 rose by 8.91 per cent YoY to ₹31,904 crore from ₹29,294 crore in Q2FY25.
2. Balance sheet
SBI’s whole bank advances grew by 12.73 per cent YoY, while domestic advances grew by 12.32 per cent YoY for the September quarter.
Retail Advances grew by 15.09 per cent YoY, led by SME advances growth at 18.78 per cent YoY, and by agri advances growth at 14.23 per cent YoY and retail personal advances growth at 14.09 per cent.
The bank’s total deposits grew by 9.27 per cent YoY. CASA deposit grew by 8.06 per cent YoY, while CASA ratio stood at 39.63 per cent by the end of the September quarter.
3. Asset quality
According to the bank’s exchange filing, its provision coverage ratio (PCR) improved by 13 pbs YoY to 75.79 per cent.
Net NPA ratio improved by 11 bps YoY to 0.42 per cent, while gross NPA ratio improved by 40 bps YoY to 1.73 per cent.
4. Key ratios
SBI’s capital adequacy ratio (CAR) as at the end of Q2FY26 stood at 14.62 per cent.
Slippage ratio declined by 6 basis points to 0.45 per cent, while credit cost inched up by 1 basis point to 0.39 per cent.
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