SBI Q3 Results: Profit Jumps 24% YoY to Rs 21,028 Crore, NII Rises 9%
India’s largest public sector lender, State Bank of India (SBI), has reported impressive results for the third quarter, showcasing robust financial growth and solid operational performance.
Key Highlights of SBI Q3 Results
– Net Profit Growth: SBI’s standalone net profit surged 24% year-on-year (YoY) to ₹21,028 crore, marking the highest profit ever reported by the bank.
– Net Interest Income (NII): NII ascended 9% YoY to ₹45,190 crore, reflecting effective management of interest earnings.
– Operating Profit: The bank’s operating profit (before provisions and contingencies) grew significantly by 40% YoY to ₹32,862 crore.
Net Interest Margins and Asset Quality
– Net Interest Margins (NIM): For Q3 FY26, SBI recorded a net interest margin of 2.99%, with domestic NIM at 3.12%. Over the nine months ending December 2025, the domestic NIM averaged 3.08%.
– Improved Asset Quality: The gross Non-Performing Assets (NPA) ratio declined to 1.57%, down 50 basis points YoY, while the net NPA ratio improved to 0.39%, lower by 14 basis points.
Loan and Deposit Growth
– Advances Growth: SBI’s total advances rose by 15% YoY, driven by a 15% growth in domestic advances. Key segments included:
– Retail advances: Up by 16%, with double-digit growth across all sub-segments.
– SME advances: Increased by 21%.
– Agricultural advances: Grew by 16%.
– Corporate advances: Up by 13%.
– Deposits: Total deposits increased by 9% YoY, with Current Account Savings Account (CASA) deposits comprising a significant part of this growth, reflecting a CASA ratio of 39.13%.
Capital Adequacy and Digital Adoption
– Capital Position: SBI maintained a strong capital adequacy ratio of 14.04%, with a Common Equity Tier 1 (CET-1) ratio of 10.99%.
– Digital Adoption: Over 68% of new savings bank accounts were opened through the YONO platform in Q3, while nearly 98.6% of total transactions during the nine-month period were conducted through alternate channels.
Conclusion
The SBI Q3 results reflect the bank’s resilience and continued growth in a competitive landscape. With a significant increase in profits and interest income, along with improved asset quality, SBI is well-positioned to maintain its leading role in the Indian banking sector. The focus on digital transformation further complements its robust operational framework, ensuring it remains a reliable and innovative player in the financial market.