SBI Maintains Loan, Deposit Growth Forecast

• SBI Q1 net profit up 13% YoY to ₹19,160 crore, beating estimates; NII flat.
• NIM slipped to 3.02%; slippages rose to ₹7,945 crore; asset quality stable.
• FY26 guidance maintained; SME, retail drive growth; ₹25K cr fund raise.

SBI Q1 Results Highlights: India’s largest lender, State Bank of India, reported a 13% year-on-year rise in net profit at ₹19,160 crore for the June quarter, beating analyst estimates. However, net

interest income remained flat at ₹41,072 crore.

Margin pressures persisted, with domestic NIM slipping to 3.02% from 3.15% in the previous quarter, while fresh slippages rose sharply to ₹7,945 crore from ₹4,222 crore in Q4.

SBI maintained its FY26 guidance of 12% loan growth and 10% deposit growth. Chairman CS Setty said SME, retail, and personal banking segments delivered double-digit gains, and the  ₹25,000 crore fund raise will support ₹2.5 lakh crore in loan growth.

Asset quality

remained largely stable, with gross NPAs at 1.83% and net NPAs flat at 0.47%.

Operating profit rose to ₹30,545 crore, while other income jumped significantly YoY. SBI also noted a shift in corporate borrowing behaviour, with increased repayments and pricing-led prepayments.

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