SBI Q2 results: net profit rises 14.28% to Rs 23,038 crore, gross NPA ratio falls to 1.39%

State Bank of India reported a standalone net profit of Rs 23,038 crore for the quarter ended 30 September 2026 (Q2 FY27), up 14.28% from Rs 20,160 crore a year earlier, according to its filing with the stock exchanges on 3 November 2026. Net interest income rose 14.69% to Rs 49,143 crore, and the bank's gross NPA ratio fell to 1.39%.

What Happened

The bank's Central Board met on 3 November 2026 to consider the unaudited results, and the limited review report of the statutory central auditors contains an unmodified opinion, the filing says. Net interest income, which is interest income minus interest expenses, was Rs 49,143 crore against Rs 42,847 crore a year earlier. Net profit rose 9.07% from Rs 21,121 crore in the April-June quarter.

Operating profit grew 7.28% to Rs 34,226 crore. Provisions for loan losses fell 33.23% to Rs 2,759 crore from Rs 4,132 crore. For the half year to September, net profit rose 12.31% to Rs 44,159 crore.

Deposits stood at Rs 62,77,919 crore, up 12.27% from a year earlier, while gross advances grew 17.84% to Rs 52,08,344 crore. Home loans rose 11.94% to Rs 9,85,537 crore. The share of current and savings account (CASA) deposits fell to 38.32% from 39.63%.

What It Means

The bank's press release reports an improvement in asset quality. Gross non-performing assets (NPAs) fell 4.87% to Rs 72,529 crore, and the gross NPA ratio improved to 1.39% from 1.73%. The net NPA ratio was 0.36%, and the provision coverage ratio was 74.43%.

The bank's capital to risk-weighted assets ratio (CRAR), its capital adequacy ratio, stood at 16.09%, up from 14.62% a year earlier. Domestic net interest margin was 3.11% for the quarter.

Over the year, the figures show the bank's advances growing faster than its deposits: advances rose 17.84% while deposits rose 12.27%. Retail term deposits grew 16.74%, while CASA deposits grew 8.13%.

Source: SBI financial results filing