SBI Q2 Results Live Updates: NII grows 15%; Credit growth guidance maintained at 14-15%

SBI Q2 Results Live Updates:

India's largest lender State Bank of India (SBI) reported a 14.3% year-on-year rise in standalone net profit to ₹23,038 crore for the September quarter, beating the CNBC-TV18 poll estimate of ₹22,859 crore.

Net interest income (NII) increased 14.7% year-on-year to ₹49,143 crore, ahead of the poll estimate of ₹47,901 crore. However, operating profit came in at ₹26,937 crore, down 1.4% from ₹27,311 crore a year ago and below the poll estimate of ₹35,549 crore.

The bank reported an exceptional gain of ₹7,289 crore during the quarter, compared with a gain of ₹4,593 crore in the corresponding period last year.

On the asset quality front, gross non-performing assets (NPA) improved to 1.39% from 1.47% in the previous quarter, while net NPA declined to 0.36% from 0.38%.

Domestic net interest margin (NIM) increased 11 basis points sequentially to 3.11%. The domestic credit-deposit ratio stood at 73%, compared with 74.2% in Q1FY27. Fresh slippages stood at ₹5,227 crore, lower than ₹7,046 crore in the previous quarter, but higher than ₹4,754 crore in the year-ago period.