SBI Q1 FY26 results: Profit up 10% at ₹21,626 crore, NII remains flat

State Bank of India (SBI) on Friday reported a consolidated net profit of ₹21,626.64 crore for the first quarter of the financial year 2025-26 (Q1 FY26), marking a 10 per cent year-on-year (Y-o-Y) rise from ₹19,680.80 crore in the same quarter last year. On a sequential basis, the profit grew 8.5 per cent from ₹19,941.39 crore in Q4 FY25.

 

The bank’s asset quality improved, with net non-performing assets (NPAs) declining to ₹19,908.42 crore in Q1 FY26, down 7.6 per cent Y-o-Y from ₹21,554.69 crore in Q1 FY25. On a sequential basis, net NPAs rose marginally by 1.2 per cent from ₹19,666.92 crore in the previous quarter.

 

SBI's net interest income (NII) for Q1 FY26 stood at ₹41,072 crore, largely flat compared to ₹41,125 crore in the same quarter last year. On a sequential basis, NII declined by 4 per cent from ₹42,775 crore reported in Q4 FY25.

 

SBI's credit growth

 

The public lender's gross advances rose to ₹42.54 trillion in Q1 FY26, registering a Y-o-Y growth of 11.6 per cent. The momentum was led by the retail and SME segments, with retail personal loans growing 12.6 per cent, and home loans—the largest component—rising by 15 per cent. SME lending also saw a strong uptick of 19.1 per cent, while agricultural loans expanded by 12.7 per cent. Growth in corporate loans remained relatively subdued at 5.7 per cent, whereas advances from foreign offices grew 14.8 per cent over the year.

 

SBI's deposit growth

 

Total deposits increased to ₹54.73 trillion during the quarter, up 11.7 per cent from the same period last year. Growth was led by term deposits, which increased by 14.2 per cent, outpacing the 8.05 per cent growth in current and savings account (CASA) deposits.

 

SBI Q1 result highlights

 

Net interest income (NII):  ₹41,072  crore

Consolidated net profit: ₹21,626.64 crore

Earnings per share: ₹23.76 (basic and diluted)