SBI Q1 results date, time, analysts expectations: All you need to know

SBI could report a largely flattish net profit growth in Q1FY26, where slippages could rise for the agri-sector but loan book may improve, or even outpace, industry growth.

Don't want to miss the best from Business Standard?

SBI Q1 results preview: State Bank of India (SBI), the country’s largest public sector bank (PSB), could report a steady set of quarterly earnings for the April-June quarter (Q1) of the current financial year 2025-26 (FY26), say analysts.

 

According to analysts' estimates, SBI could report a largely flattish net profit growth in Q1FY26, where slippages could rise for the agri-sector but loan book may improve in-line, or even outpace, industry growth.

 

SBI Q1 results date, time

According to the bank’s stock exchange filing, a meeting of the Central Board of the Bank will be held on Friday, August 8, 2025, inter-alia, to consider the financial results of the Bank for the quarter ended June 30, 2025.

 

SBI Q1 results 2025 expectations:

 

Emkay Global Financial Services

Analysts at Emkay Global expect SBI to report decent earnings growth which, along with higher treasury gains, lower opex, and contained credit cost, could help the bank clock 1 per cent return on asset (RoA).

 

It pegs the PSB’s net profit at ₹18,128.2 crore, higher by 6.4 per cent over last year’s profit of ₹17,035.2 crore. On a quarter-on-quarter (Q-o-Q) basis, it would be a dip of 2.8 per cent from ₹18,642.6 crore.

 

Operationally, the brokerage estimates SBI’s net interest income (NII) to rise around 3 per cent Y-o-Y to ₹42,313.3 crore. It would, however, mean a decline of 1.1 per cent Q-o-Q.

 

Net interest margin (NIM) is expected to contract 28 basis points (bps) Y-o-Y and 6bps Q-o-Q to 2.9 per cent.

 

JM Financial Institutional Equities

Barring Emkay, most brokerages expect SBI’s net profit to decline on both, Y-o-Y and Q-o-Q basis. Analysts at JM Financial anticipate the decline to be 2 per cent Y-o-Y and 10.4 per cent Q-o-Q at ₹16,694.4 crore.

 

On the income front, NII is seen rising 3.4 per cent Y-o-Y, but down just 0.5 per cent Q-o-Q, to ₹42,539.4 crore.

 

Similarly, pre-provision operating profit (PPOP) is projected to increase 4.4 per cent Y-o-Y, but drop 11.7 per cent Q-o-Q, to ₹27,614.4 crore.

 

Further, the brokerage pegs SBI’s loan growth at 12.2 per cent Y-o-Y and deposit growth at 11.1 per cent for Q1FY26. This, the brokerage said, could take SBI’s loan-to-deposit ratio (LDR) to 77.2 per cent at the end of the June quarter.

 

Nuvama Institutional Equities

Backed by a robust surge in Treasury gains (93.1 per cent Y-o-Y at ₹500 crore), analysts at Nuvama expect SBI’s total non-interest income to jump 47.1 per cent Y-o-Y (₹16,420 crore), resulting in total revenue zooming 9.9 per cent Y-o-Y (₹57,480 crore).

 

Factoring-in an 18.8-per cent Y-o-Y rise in opex (₹3,070 crore), Nuvama expects SBI’s operating profit to stay steady at ₹26,780 crore, up 1.3 per cent Y-o-Y, but down 14.4 per cent sequentially.

 

Further, net profit is seen flat Y-o-Y at ₹17,180 crore on the back of 16 per cent annual jump in provisions.

 

On the business front, SBI’s Q1FY26 loan growth could stand at 11.8 per cent Y-o-Y at ₹41.91 trillion, and deposit growth could be 8.7 per cent Y-o-Y to ₹53.28 trillion. NIM, however, may contract 35bps Y-o-Y/13bps Q-o-Q to 2.87 per cent.

 

Kotak Institutional Equities

KIE expects SBI’s operating profit to decline 7.7 per cent Y-o-Y to ₹ 24,410 crroe as it builds NIM compression in Q1FY26. SBI’s PPOP was ₹ 26,448.6 crore in Q1FY25 and ₹31,286 crore in Q4FY25.

 

The brokerage is building flat NII, at ₹ 41,288.4 crore, despite 11 per cent Y-o-Y loan growth due to higher cost of funds and pass-through of recent rate cuts.

 

SBI’s NII in the year-ago period was ₹ 41,125.5 crore, and ₹42,774.6 crore in Q4FY25.

 

Lower staff costs and higher contribution from treasury income could support operating income, it said.

 

“We expect slippages at ~1% of loans (normalization of slippages over time) but no fresh concerns are likely on unsecured loans for the bank. We are likely to see lower recovery and upgrades as well. Key discussions would be on NIM, RoE and CAR for the quarter,” it said.

 

It bakes in 15.6-per cent Y-o-Y and 22.9-per cent Q-o-Q decline in net profit at ₹14,381.1 crore due to a 49.4 per cent Y-o-Y jump in loan-loss provisions. NIM is projected at 2.7 per cent, down 17bps Y-o-Y and 5bps Q-o-Q.