Mumbai
State Bank of India reported a mixed but largely steady financial performance for the fourth quarter of FY26, showing resilience in core banking operations despite pressure on margins and operating profit. The bank posted a 5.6% year-on-year rise in standalone net profit at ₹19,683.75 crore, compared to ₹18,642.59 crore in the same quarter last year.
On a consolidated basis, the bank recorded a modest 1.1% YoY increase in net profit at ₹20,161.30 crore. However, sequentially, profit declined 6.4% from the previous quarter, reflecting some slowdown in quarterly performance.
For the full financial year FY26, SBI achieved a significant milestone with net profit crossing ₹80,000 crore, reaching ₹80,032.01 crore, up nearly 13% from ₹70,900.63 crore in FY25. This growth was supported by stable credit demand and deposit expansion across its domestic operations.
Net interest income (NII) rose 4.13% YoY to ₹44,380 crore, although it saw a slight sequential dip. The bank’s domestic net interest margin (NIM) moderated to 2.93%, reflecting a year-on-year decline amid changing rate conditions and competitive lending pressures.
Operationally, SBI faced some weakness as operating profit fell 11.45% YoY and 15.7% quarter-on-quarter to ₹27,704 crore. Despite this, the bank continued to show improvement in asset quality.
Gross non-performing assets (NPAs) declined to ₹73,452 crore, with the gross NPA ratio improving to 1.49% from 1.82% a year earlier. Net NPAs also improved to 0.39%, indicating stronger recovery and write-off trends.
Following the earnings announcement, SBI shares saw pressure in the market, falling around 5.7% in late trading.
Overall, while profitability remained strong for the year, the quarter reflected margin compression and weaker operating performance, balanced by improving asset quality and steady core income growth.