Mumbai, Aug 8
The country’s largest lender State Bank of India on Friday reported a 12.5 per cent increase in net profit at Rs 19,160 crore for the April-June quarter of the current financial year, compared to the corresponding figure of Rs 17,035 crore in the same quarter of the previous fiscal.
SBI’s operating profit for Q1 FY26 grew by a robust 15.49 per cent year-on-year to Rs 30,544 crore.
Net Interest Income (NII), which reflects the difference between the interest earned on loans and that paid on deposits, for the quarter remained flat at Rs 41,072.4 crore, which is around the same as the previous year's figure of Rs 41,126 crore.
SBI’s asset quality for the quarter improved by 38 basis points with gross NPAs at the end of the April-June quarter at 1.83 per cent. Net NPA improved by 10 basis points to 0.47 per cent compared to the same quarter of the previous year.
Wholesale bank deposits increased by 11.6 per cent in the first quarter from the same period of the previous year while domestic advances increased by 11.96 per cent. SBI’s foreign offices’ advances grew by 14.81 per cent year-on-year with whole bank advances now at Rs 42.5 lakh crore.
Shares of SBI were trading at around Rs 795.35 apiece on Friday afternoon.