Mumbai: State Bank of India (SBI) reported a standalone net profit of Rupees 19,684 crore for the quarter ended March 31, 2026, compared with Rupees 18,643 crore in the corresponding quarter last year, registering a year-on-year increase of 5.58 percent. Sequentially, however, profit declined 6.39 percent from Rupees 21,028 crore reported in Q3 FY26. Total income for Q4 FY26 stood at Rupees 1,40,412 crore compared with Rupees 1,43,876 crore in Q4 FY25.
Net interest income during the quarter rose 4.13 percent year-on-year to Rupees 44,380 crore, although it declined marginally from Rupees 44,987 crore in the previous quarter. Operating profit for Q4 FY26 came in at Rupees 27,704 crore against Rupees 31,286 crore in Q4 FY25. Total provisions declined sharply by 36.56 percent year-on-year to Rupees 8,020 crore, helping support bottom-line growth during the quarter.
FY26 Profit Hits Record High
For the full financial year FY26, SBI posted its highest-ever annual net profit of Rupees 80,032 crore, up 12.88 percent from Rupees 70,901 crore in FY25. Annual operating profit rose 11.25 percent to Rupees 1,23,015 crore, while total income increased 6.12 percent to Rupees 5,56,241 crore. Net interest income for the year stood at Rupees 1,73,120 crore compared with Rupees 1,66,340 crore in the previous financial year.
The bank’s gross advances grew 16.87 percent year-on-year to Rupees 49.33 lakh crore, while total deposits increased 11.03 percent to Rupees 59.76 lakh crore during FY26. Retail personal advances rose 15.22 percent, SME loans grew 20.99 percent, and agriculture advances increased 19.68 percent, reflecting broad-based credit growth across segments.
Asset Quality Improves Further
SBI continued to strengthen its asset quality metrics during FY26. Gross NPA ratio improved to 1.49 percent as of March 2026 from 1.82 percent a year earlier, while net NPA ratio declined to 0.39 percent from 0.47 percent. Provision coverage ratio stood at 74.36 percent, and the bank maintained additional non-NPA provisions of Rupees 29,713 crore, equivalent to nearly 158 percent of net NPAs.
The bank also reported strong traction in digital banking operations, with 98.7 percent of transactions conducted through alternative channels. SBI’s YONO platform crossed 10 crore registered users during FY26, while around 66 percent of savings accounts were opened digitally through the platform during the year.
Disclaimer: This article is based solely on SBI’s FY26 analyst presentation and financial disclosures filed by the bank. It is not investment advice or a recommendation to buy or sell securities.
