Mumbai: State Bank of India (SBI) reported a 14% on-year increase in net profit to Rs 23,038 crore in the September quarter, beating consensus estimates of analysts on Bloomberg, as the country's largest lender by assets offset bond yield-induced treasury income shrinkage through robust loan growth, lower cost of funds, and falling provisions.
A Bloomberg poll of analysts expected net profit to be Rs 22,619 crore at India's most-valued government company, which outclassed its private sector rivals to log an expansion in domestic net interest margins (NIM), or core profitability, while credit demand surged. Profit was Rs 20,160 crore in the year-ago quarter.
Chairman CS Setty said the Indian economy remains on the growth path despite global challenges spawned by fuel supply chokeholds and regional geopolitics, highlighting the efficiency of an economic engine harnessed largely to domestic consumption.
"The economy continues to be on a consistent growth path, supported by consumption, investment and sustained activity across manufacturing and services. Available indicators suggest the underlying momentum remains healthy," Setty said.
"We remain watchful of developments in food and energy prices, currency markets and the broader global environment."
The ongoing rabi season needs to be watched due to El Niño concerns, availability of water, and their impact on the rural economy, Setty said.
State of the Bank
| Indicator | Sept '25 | Sept '26 | Change |
| Net Profit (₹ Cr) | 20,160 | 23,038 | Up 14% |
| Net Interest Income (₹ Cr) | 42,847 | 49,143 | Up 15% |
| Non-interest Income (₹ Cr) | 20,056 | 19,066 | Down 5% |
| Net Interest Margin (%) | 2.96 | 2.94 | Down 2 bps |
The Economic Times
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