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Informist, Friday, May 8, 2026

 

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--SBI Jan-Mar net profit INR 196.84 bln 
--Analysts saw SBI Jan-Mar net profit at INR 193.98 bln 
--SBI Jan-Mar total income INR 1.40 tln vs INR 1.44 tln yr ago 
--SBI Jan-Mar total income INR 1.40 tln vs INR 1.44 tln yr ago 
--SBI Jan-Mar net profit INR 196.84 bln vs INR 186.43 bln yr ago 
--SBI Jan-Mar provisions INR 28.72 bln vs INR 64.42 bln yr ago 
--SBI Jan-Mar NPA provisions INR 31.40 bln vs INR 39.64 bln yr ago 
--SBI to pay INR 17.35 per share dividend 
--SBI dividend record date May 16 
--SBI gross NPA ratio 1.49% on Mar 31 vs 1.57% qtr ago, 1.82% yr ago 
--SBI net NPA ratio 0.39% on Mar 31 vs 0.39% qtr ago, 0.47% yr ago 
--SBI Basel-III capital adequacy ratio 15.40% on Mar 31 
--SBI FY26 net profit INR 800.32 bln vs INR 709.01 bln yr ago 
--SBI FY26 total income INR 5.52 tln vs INR 5.24 tln yr ago 
--SBI provision coverage ratio 74.36% on Mar 31
--SBI Jan-Mar domestic NIM 2.93% vs 3.11% qtr ago, 3.14% yr ago 
--SBI Jan-Mar net interest income INR 443.80 bln, up 4.1% on yr 
--SBI gross advances INR 49.33 tln on Mar 31, up 16.9% on yr 
--SBI total deposits at INR 59.76 tln on Mar 31, up 11% on yr 
--SBI domestic retail personal loans INR 17.36 tln on Mar 31, up 15.2% on yr 
--SBI domestic corporate loans INR 14.25 tln on Mar 31, up 14.8% on yr 
--SBI CASA ratio 39.46% on Mar 31 vs 39.13% qtr ago, 39.97% yr ago 
--SBI Jan-Mar credit cost 0.37% vs 0.39% qtr ago, 0.38% yr ago 
--SBI Q4 domestic cumulative cost of deposits 5.04% vs 5.07% qtr ago 
--SBI Q4 fresh slippages INR 55.21 bln vs INR 42.22 bln yr ago 
--SBI Q4 recoveries, upgrades INR 15.26 bln vs INR 17.39 bln yr ago 
--SBI: Special Mention Accounts-1, 2 at INR 33.50 bln on Mar 31 

 

By Shubham Rana

 

NEW DELHI – State Bank of India's net profit for the March quarter beat analysts' expectations, primarily because of a fall in provisions. The operating profit of the state-owned bank fell on year, pulled down by lower other income.  

 

The country's largest lender reported a net profit of INR 196.84 billion for the March quarter, up 5.6% on year but down 6.4% on quarter. Analysts had estimated the bank's net profit at INR 193.98 billion. 

 

Shares of the bank fell further after the release of the financial results. At 1404 IST, the stock was down over 5% at INR 1,033.00 on the National Stock Exchange. It was down 1.3?fore the results were detailed. The bank will pay dividend of INR 17.35 per share for 2025-26 (Apr-Mar). The record date for the dividend is May 16. 

 

Despite exceeding expectations, the bank's net profit growth was the slowest in four quarters. 

 

State Bank of India's provisions fell year-on-year for the first time in eight quarters. Provisions were down over 55% in the March quarter at INR 28.72 billion. Non-performing asset provisions declined to INR 31.40 billion in the March quarter from INR 39.64 billion a year ago. The provision coverage ratio was 74.36% as on Mar. 31.

 

The bank's total income fell on year for the first time in 15 quarters, pulled down by the steepest fall in other income in nearly four years. Total income fell 2.4% on year to INR 1.40 trillion, while other income was down 29% on year at INR 173.14 billion. 

 

Interest earned rose at the slowest pace in nearly five years, up 3% at INR 1.23 trillion.

 

The bank's net interest income rose 4.1% on year to INR 443.80 billion in the March quarter. Net interest income was lower than analysts' expectation of INR 466.46 billion for the quarter. The rise in net interest income was offset by poor treasury income. Income from treasury operations fell to INR 12.59 billion in Jan-Mar from ‌INR 89.91 billion a year ago.

 

The bank's margins also took a hit in the March quarter, with domestic net interest margin moderating to 2.93% from 3.11% in the December quarter. The domestic NIM was 3.14% a year ago. 

 

Gross advances were up 16.9% on year at INR 49.33 trillion as on Mar. 31. Credit growth was broad-based but led by the agriculture, and the small and medium enterprise segment. Domestic retail personal loans were up 15.2% on year at INR 17.36 trillion as on Mar. 31. Domestic corporate loans stood at INR 14.25 trillion as on Mar. 31, up 14.8% on year 

 

The bank had total deposits of INR 59.76 trillion as on Mar. 31, up 11.0% on year. The current account savings account ratio was 39.46% as on Mar. 31, higher than 39.13% a quarter ago. The CASA ratio was 39.97% a year ago.  

 

The bank's domestic cost of deposits was 5.04% in Jan-Mar, lower than 5.07% a quarter ago.

 

ASSET QUALITY

The state-owned bank's asset quality remained stable in the March quarter. The gross NPA ratio fell to 1.49% as on Mar. 31 from 1.57% a quarter ago and 1.82% a year ago. The net NPA ratio was 0.39% as on Mar. 31, the same as a quarter ago but lower than 0.47% a year ago. The Basel-III capital adequacy ratio was 15.40% as on Mar. 31, up from 14.04% a quarter ago. 

 

The bank saw fresh slippages of INR 55.21 billion in the March quarter, higher than INR 42.22 billion a year ago. Recoveries and upgrades fell to INR 15.26 billion from INR 17.39 billion in the year-ago quarter. Special Mention Accounts-1 and 2 fell to INR 33.50 billion as on Mar. 31 from INR 38.70 billion a quarter ago. Credit cost eased to 0.37% in the March quarter from 0.39% in Oct-Dec. Credit cost was 0.38% a year ago.

 

The state-owned bank reported a net profit of INR 800.32 billion for FY26, higher than INR 709.01 billion a year ago. Total income rose to INR 5.52 trillion last financial year from INR 5.24 trillion in FY25.  End

 

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Edited by Avishek Dutta

 

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