SBI Q1 Results: Standalone Profit Rises 10% YoY to Rs 21,121 Crore, Beats Market Estimates

State Bank of India (SBI) has reported a 10% year-over-year (YoY) increase in standalone profit to Rs 21,121 crore for the first quarter (Q1) of the fiscal year, beating market estimates.

SBI Q1 Results: Standalone Profit Rises 10% YoY to Rs 21,121 Crore

The bank’s net interest income (NII) rose 15% YoY to Rs 46,992 crore, surpassing estimates of Rs 46,214 crore. Operating profit also increased by 10% YoY to Rs 33,529 crore.

Domestic Net Interest Margin Improves

Domestic net interest margin (NIM) stood at 3%, a 7 basis points improvement from Q4FY26. Whole bank NIM improved 5 basis points sequentially to 2.86%. The margin improvement is a significant development, as analysts had expected funding cost pressure and term deposit repricing to weigh on SBI’s profitability in the quarter.

Business Crosses Rs 110 Trillion

• Total business crossed Rs 110 trillion during the quarter.
• Deposits were above Rs 60 trillion, while advances crossed Rs 50 trillion.
• Whole bank advances grew 19% YoY, while domestic advances rose 18.15%.
• Foreign office advances increased 21% in rupee terms and 10% in dollar terms.

Key Takeaways

• SBI’s standalone profit rose 10% YoY to Rs 21,121 crore, beating market estimates.
• Net interest income increased by 15% YoY to Rs 46,992 crore, surpassing estimates of Rs 46,214 crore.
• Domestic net interest margin improved 7 basis points from Q4FY26 to 3%.

FAQs

What is the significance of SBI’s margin improvement?

The margin improvement is a significant development, as analysts had expected funding cost pressure and term deposit repricing to weigh on SBI’s profitability in the quarter.

What is the current state of SBI’s business?

Total business crossed Rs 110 trillion during the quarter, with deposits above Rs 60 trillion and advances crossing Rs 50 trillion.

How did SBI’s different loan segments perform?

Growth was broad-based across retail, agriculture, SME, and corporate loans. RAM advances rose 18.20% year-on-year, with all segments growing in double digits. Agriculture advances grew 25%, followed by SME advances at 22%. Retail personal advances rose 15%, while corporate advances grew 18%.

Conclusion

SBI’s Q1 results have exceeded market expectations, with a 10% YoY increase in standalone profit to Rs 21,121 crore. The bank’s margin improvement and strong business growth are positive indicators for the financial sector. Investors and analysts will closely watch SBI’s future performance, as the bank continues to navigate the competitive banking landscape.