SBI Q1 Profit Jumps 14% to Rs 24,113 Cr; Provisions Fall

Mumbai, Aug 7 (PTI) State Bank of India on Friday reported 13.73 per cent rise in consolidated net profit at Rs 24,113 crore for June quarter as core income increased and provisions fell.

On a standalone basis, the country's largest lender's net profit grew 10.23 per cent on-year to Rs 21,121.22 crore as against Rs 19,160.44 crore in April-June 2025.

Chairman C S Setty said the bank is aiming for a 14-15 per cent rise in advances for the fiscal as against earlier expectation of 13-15 per cent.

In the June quarter, its core net interest income rose nearly 15 per cent to Rs 46,992 crore on the back of a 18.63 per cent rise in gross advances, while the domestic net interest margin contracted to 3 per cent.

Setty exuded confidence of maintaining domestic NIM at 3 per cent in FY27, and added that he does not see any changes in the broader lending and deposit rate trajectory during the remainder of the fiscal.

The bank's non-interest income dropped 9 per cent at Rs 15,293 crore, largely because of a 70 per cent drop in the forex or derivatives income.

Its deposit growth came in at 9.73 per cent and the share of the low-cost current and saving advances declined by 0.12 per cent on-year to 39.36 per cent. Setty said the bank's credit-deposit ratio has touched 74 per cent now and it can operate at 80 per cent as well.

A deposit growth of 10-11 per cent in FY27 will be sufficient to fund the advances, he said.


Managing Director Ashwini Kumar Tewari said the bank has corporate loan pipeline of nearly Rs 3.6 lakh crore coming from a variety of sectors.

The bank has so far executed three deals under the RBI's newly introduced acquisition financing framework, Tewari said, adding that the facility is helpful for the banking sector as it is able to attract clientele from sectors like the software industry which does not typically need bank finance in normal course.

The bank has mobilised USD 6 billion under the FCNR(B) window since the beginning of the scheme and should be able to take the number to up to USD 10 billion by the time the special window closes in September, Setty said.

Mopping up deposits from the diaspora will help reduce reliance on the high-cost bulk deposits domestically, he said, adding that the FCNR(B) accretion will not have any impact on the NIM trajectory for the bank.

From an asset quality perspective, the fresh slippages came at Rs 7,046 crore, which was lower than Rs 7,945 crore in the year-ago period, but much higher than Rs 5,521 crore in the March quarter.

Gross non-performing assets ratio improved to 1.47 per cent as on June 30, from 1.49 per cent on March 31 this year and 1.83 per cent in the year-ago period.

Its provisions for non-performing assets reduced to Rs 3,359 crore in June quarter from Rs 4,934 crore in the year-ago period, but were higher than Rs 3,140 crore in the quarter-ago period.

The bank's overall capital adequacy ratio stood at 15.67 per cent as on June 30, including the core buffer of 12.89 per cent.