State Bank of India core net interest income rose nearly 15% to ₹46,992 crore on the back of a 18.63% increase in gross advances, while the domestic net interest margin contracted to 3%. File
| Photo Credit: The Hindu
State Bank of India on Friday (August 7, 2026) reported a 13.73% increase in its June quarter consolidated net profit at ₹24,113 crore as core income improved and provisions declined.
On a standalone basis, the bank’s net profit grew 10.23% on-year to ₹21,121.22 crore as against ₹19,160.44 crore in April-June 2025, as per an exchange filing.
The bank’s core net interest income rose nearly 15% to ₹46,992 crore on the back of a 18.63% increase in gross advances, while the domestic net interest margin contracted to 3%.
The bank, however, was able to expand on the NIM when compared on-quarter, with the number widening by 0.07%.
Its non-interest income dropped 9% at ₹15,293 crore, largely because of a 70% drop in the forex or derivatives income.
Its deposit growth came at 9.73% and the share of the low-cost current and saving advances declined by 0.12% on-year to 39.36%.
Speaking to reporters, Chairman C.S. Setty said the bank is targeting a credit growth of 14-15% in FY27, and added that a deposit growth of 10-11% should be able to fund it.
The bank has mobilised $6 billion under the FCNR(B) window since the beginning of the scheme and should be able to take the number to up to $10 billion by the time the special window closes in September, Setty said.
The fresh slippages came at ₹7,046 crore, which was lower than the ₹7,945 crore in the year-ago period, but much higher than the ₹5,521 crore in the March quarter.
Gross non-performing assets ratio improved to 1.47% as on June 30, from 1.49% on March 31 this year and 1.83% in the year-ago period.
Advances remaining unpaid for between 31-89 days but not NPA increased to ₹4,174 crore at the end of June from ₹3,350 crore in March this year.
Its provisions for non-performing assets reduced to ₹3,359 crore in June quarter from ₹4,934 crore in the year-ago period, but were higher than ₹3,140 crore in the quarter-ago period.
The bank’s overall capital adequacy ratio stood at 15.67% as on June 30, including the core buffer of 12.89%.
The SBI scrip settled at ₹1,096.05, up 1.03% on BSE.
Published – August 07, 2026 04:17 pm IST
