SBI's Quarterly Profit Soars Amid Forex and Treasury Gains

State Bank of India reported a 9.71% increase in consolidated net profit for the June 2025 quarter, driven by strong treasury and forex income. Despite challenges in net interest margins, the bank's non-interest income surged, contributing to profit growth. Loan growth remained a focus for FY25.

State Bank of India (SBI) announced a 9.71% rise in its consolidated net profit, reaching INR 21,201 crore for the June 2025 quarter. This surge in profits was largely attributed to impressive performances in treasury and forex income.

On a standalone basis, SBI's net profit grew to INR 19,160 crore compared to INR 17,035 crore during the same period last year. Despite an 11.6% increase in total advances, core net interest income saw a minor decline due to falling net interest margins, which were affected by the RBI's rate cuts and the slow repricing of deposit rates.

SBI's chairman, CS Setty, noted the bank's aim for a 3% net interest margin for FY26, despite anticipated challenges. Non-interest income rose by 55% to INR 17,346 crore, helping to bolster profits, supported by a significant rise in forex income and profits from investment sales.

(With inputs from agencies.)