SBI Q2 profit rises 14.3% to ₹23,038 crore; eyes NIM above 3%
State Bank of India reported a 14.3% increase in quarterly net profit, driven by improved asset quality and lower loan-loss provisions. The bank also disclosed a data breach involving customer information on the dark web.
Why it matters
As India's largest commercial bank, its financial health and cybersecurity status are critical indicators for the broader Indian economy.
MUMBAI State Bank of India (SBI), the country’s largest commercial bank, reported a 14.28% year-on-year (YoY) increase in net profit to ₹23,038 crore for the second quarter ended September 30, 2026, aided by lower loan-loss provisions and improved asset quality. Net interest income (NII) rose 14.69% to ₹49,143 crore, while net interest margin (NIM) improved three basis points to 3.11% from 3.08% a year ago. Loan-loss provisions declined 33.23% YoY to ₹2,759 crore. The bank’s gross non-performing assets (GNPA) fell 4.87% to ₹72,529 crore. The GNPA ratio improved 34 basis points to 1.39%. Net NPA, however, edged up 0.47% to ₹18,546 crore, although the NNPA ratio declined six basis points to 0.36%.
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