- Explosion at the country’s largest bank!
- SBI’s profit crosses 21,000 crores
- Big news for shareholders
SBI Q1 Results: The country’s largest public sector bank, State Bank of India (SBI Q1 Results), has announced the results of the first quarter of the financial year 2026-27. In this result, the bank has got a bumper profit. The bank has seen exceptional performance in terms of earnings. Therefore, it has surpassed all market estimates in this situation. In the first quarter, SBI’s net profit increased by 10.2% year-on-year to Rs 21,121 crore. What exactly will be the benefit of this?
The bank’s profit in the same period last year was Rs 19,160 crore. These results have been well received in the stock market. SBI shares rose as soon as the results were announced. Due to heavy buying by investors, the bank’s shares rose 3.21% to Rs 1,119.80 on Friday.
Reached the milestone of Rs 110 lakh crore
In this quarter, SBI has reached a new milestone by crossing the Rs 110 lakh crore mark. Total deposits have increased by 9.73% to Rs 60.06 lakh crore. Total loans have increased by 18.6% to cross Rs 50 lakh crore. SBI has reported a significant growth of 15% in net interest income (NII) in the first quarter. The bank’s net interest income (NII) increased to Rs 46,992 crore as compared to Rs 40,907 crore in the same quarter last year. Market analysts had estimated it to be Rs 45,800 crore in the first quarter. Pre-provision operating profit (PPoP) was Rs 33,530 crore, which was higher than market expectations.
Reduction in NPAs: Improvement in asset quality
Along with bumper earnings, SBI has also strengthened its loan book and asset quality. Gross APA declined to 1.47% from 1.49% in the previous quarter. Similarly, net NPA improved to 0.38% from 0.39% in the previous quarter. But the bank’s provisions increased to ₹ 5,047 crore during the period. Credit cost remained stable at 0.27%. The bank’s domestic net interest margin (NIM) was recorded at 3%.
Big increase in retail and agricultural loans
SBI’s SME loans saw the highest growth of 22.33% and agriculture loans by 25.43%. Retail personal loans grew by 15.15% and corporate loans by 18.05%. SBI’s digital dominance in the banking sector is getting stronger. According to the bank, more than 64% of the total new savings accounts opened during the quarter were opened through the YONO app.