SBI's Profits Surge: A Financial Triumph

State Bank of India (SBI) reported a 12% increase in standalone net profit for the first quarter, totaling Rs 19,160 crore. Total income and interest earned showed significant growth, while gross NPAs declined, marking improvements in asset quality. Provisions rose, and the capital adequacy ratio improved.

State Bank of India (SBI), the nation's largest lender, has announced a 12% rise in standalone net profit for the first quarter of the fiscal year, reaching Rs 19,160 crore. This marks an increase from Rs 17,035 crore in the previous year's corresponding quarter.

The bank's total income surged to Rs 1,35,342 crore during the June quarter of 2025-26, compared to Rs 1,22,688 crore in the previous year. This growth was echoed by improvements in interest earnings, which rose to Rs 1,17,996 crore from Rs 1,11,526 crore in June quarter FY25. SBI's operating profit also saw a boost, climbing to Rs 30,544 crore from Rs 26,449 crore.

SBI reported a decline in gross non-performing assets (NPAs) to 1.83% of gross advances by the end of the June quarter, down from 2.21% a year earlier. Net NPAs dropped to 0.47% from 0.57%. Despite these improvements in asset quality, provisions and contingencies increased to Rs 4,759 crore from Rs 3,449 crore the previous year. The bank's capital adequacy ratio improved to 14.63% from 13.86%. On a consolidated basis, SBI Group's net profit rose to Rs 21,627 crore, a 10% increase year-on-year.

(With inputs from agencies.)