State Bank of India (SBI) reported strong Q2FY26 results, with net profit at ₹20,160 crores, a 9.97% YoY growth. Deposits crossed ₹55.9 lakh crore, and advances reached ₹44.2 lakh crore. The bank contained credit costs at 0.39%, with a gross NPA ratio of 1.73% and a net NPA ratio of 0.42%. Digital transactions continue to rise, with 98.6% through alternate channels and 9.35 crore registered YONO users.
Key Financial Performance
SBI’s net profit for Q2FY26 reached ₹20,160 crores, marking a 9.97% year-over-year (YoY) increase, driven by higher non-interest income. The operating profit stood at ₹31,904 crores. The return on assets (ROA) for the first half of fiscal year 2026 was 1.15%, and the return on equity (ROE) was 20.21% for the same period. The whole bank net interest margin (NIM) was 2.97% for Q2FY26, with the domestic NIM at 3.09%.
Business Growth and Advances
The total business crossed ₹100 Trillion. Whole bank advances crossed ₹44 trillion, with a 12.7% YoY growth in advances. Robust retail advances growth was led by SME (18.78%), agriculture (14.23%), and retail personal (14.09%). Whole bank deposits crossed ₹55 trillion, showing a 9.27% YoY growth in deposits and a 17.90% YoY growth in current accounts.
Asset Quality and Provisioning
The bank sustained strong asset quality outcomes. Credit cost was contained at 0.39% for the quarter. The gross NPA ratio stood at 1.73%, and the net NPA ratio was 0.42%. The slippage ratio was 0.45%. The provision coverage ratio (PCR) was 75.79%. Net NPA amounted to ₹18,460 crores, with additional provisions of ₹30,379 crores not included in the PCR.
Digital Leadership and YONO Platform
SBI reported that 98.6% of transactions are now conducted through alternate channels. There are 9.35 crore registered users on the YONO platform. In Q2FY26, 64% of savings accounts were opened through YONO.
Capital Adequacy
The capital adequacy ratio stood at 14.62%. The bank highlighted its well-capitalized position with adequate liquidity.
Subsidiary Performance
SBI noted the strong performance of its subsidiaries, including SBI Life, SBI Card, SBI Funds Management, SBI General Insurance, and SBICAPS.
Source: BSE
