Kamal Ghorui
State Bank of India (SBI) reported a 24% year-on-year record (all-time high) standalone net profit of Rs 21,028 crore for the December quarter of FY26, reflecting steady growth in core income and recovery trends.On a consolidated basis, the state-owned lender posted a 13.06 per cent rise in profit to Rs 21,317 crore during the quarter, according to a regulatory filing, PTI reported.The bank’s standalone net interest income (NII) rose 9.04 per cent year-on-year to Rs 45,190 crore from Rs 41,446 crore in the corresponding period last year. The growth was supported by 15.14 per cent loan expansion, even as domestic net interest margin saw a marginal compression of 0.03 per cent to 3.12 per cent.Non-interest income increased 15.65 per cent to Rs 8,404 crore during the quarter. Meanwhile, total expenses rose to Rs 1,08,052 crore compared with Rs 1,04,917 crore in Q3 FY25. The bank’s net interest margin (NIM) stood at 2.99% in Q3FY26, while domestic NIM was 3.12%. For the nine months ended December 2025, domestic NIM was recorded at 3.08%.Deposit growth stood at 9.02 per cent during the October–December period. Fresh slippages were reported at Rs 4,458 crore, higher than Rs 3,823 crore in the year-ago period.On asset quality, the gross non-performing assets (GNPA) ratio improved to 1.57 per cent as of December 31, 2025, compared with 1.73 per cent at the end of September. Total provisions rose to Rs 4,507 crore against Rs 911 crore in the year-ago period.Provision coverage ratio (PCR), including AUCA, stood at 92.37%, while PCR excluding AUCA was 75.54%. The slippage ratio remained contained at 0.40%, and credit cost stood at 0.29%, as per ET report. On the balance sheet front, SBI’s total business crossed Rs 103 lakh crore. Deposits exceeded Rs 57 lakh crore, while advances crossed Rs 46 lakh crore.The bank’s overall capital adequacy ratio stood at 14.04 per cent as of December 31, 2025, with core capital buffer at 10.99 per cent.Digital adoption remained strong, with more than 68% of savings bank accounts opened through Yono in Q3. Alternate channels accounted for nearly 98.6% of total transactions during the nine-month period.At a press conference, SBI Chairman C S Setty said a special dividend of Rs 2,200 crore from SBI Mutual Fund supported profit growth during the quarter, along with higher fee income, recoveries from written-off accounts and net interest income.
