Mumbai’s financial giant, State Bank of India (SBI), has delivered a stellar performance in the third quarter of fiscal year 2026. Announcing results that outshine expectations, the bank’s net profit surged by 24.5% year-on-year to Rs 21,028.15 crore for the October-December period. This marks a significant leap from Rs 16,891.44 crore recorded in the same quarter of the previous fiscal.
Compared to the previous quarter’s Rs 20,159.67 crore profit, this growth underscores SBI’s robust recovery and operational efficiency. Net Interest Income (NII), the lifeblood of banking profits, climbed 9% to Rs 45,190 crore, up from Rs 41,446 crore last year.
Operational profit painted an even brighter picture, rocketing 39.5% to Rs 32,862.39 crore against Rs 23,550.81 crore a year ago. This momentum from the prior quarter’s Rs 27,310.92 crore reflects strategic cost controls and revenue diversification.
Asset quality improvements are a standout feature. Gross Non-Performing Assets (GNPA) ratio dipped to 1.57% from 2.07% year-on-year and 1.73% in the previous quarter. Net NPA also improved to 0.39% from 0.53% last year and 0.42% prior quarter, signaling stronger lending portfolios.
Capital adequacy remains solid at 14.04%, up from 13.03% last year, providing a buffer for future expansions. Provisions stood at Rs 4,506.92 crore, lower than the previous quarter’s Rs 5,400.12 crore but higher than last year’s Rs 911.06 crore.
SBI’s results signal confidence in India’s banking sector amid economic uncertainties. With improving metrics across the board, the bank is well-positioned for sustained growth, benefiting shareholders and the broader economy.