SBI Q3 Results: Net profit rises 24% YoY to Rs 21,028 crore, beats Street estimates

SBI Q3 Results: State Bank of India, the country’s largest lender by assets, on Saturday reported a 24.49 per cent year-on-year jump in net profit to Rs 21,028 crore for the December quarter, up from Rs 16,891 crore in Q3FY25. The result comfortably surpassed analysts’ expectations of around Rs 17,760 crore, marking the bank’s highest-ever quarterly earnings.

The lender’s net interest income (NII) rose 9 per cent year-on-year to Rs 45,190 crore, compared with Rs 41,446 crore in the same quarter last year and above Zee Business research estimate of about Rs 44,800 crore. Operating profit, before provisions and contingencies, grew 40 per cent year-on-year to Rs 32,862 crore, supported by healthy loan growth and stable margins.

SBI Q3 results: Margins hold firm

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SBI’s net interest margin (NIM) stood at 2.99 per cent in Q3FY26, while domestic NIM came in at 3.12 per cent. For the nine months ended December 2025, domestic NIM averaged 3.08 per cent.

Gross non-performing assets declined to 1.57 per cent, down from 1.73 per cent in the previous quarter and lower by 50 basis points year on year. Net NPA eased to 0.39 per cent, improving by 14 basis points.

The slippage ratio stood at 0.40 per cent, while credit cost was 0.29 per cent during the quarter.

SBI Q3 Results: Provisions and coverage remain strong

Provisions stood at Rs 4,507 crore, higher than a year ago but lower than the previous quarter. The provision coverage ratio, including AUCA, stood at 92.37 per cent, while PCR excluding AUCA was 75.54 per cent. SBI’s total business crossed Rs 103 lakh crore, with deposits over Rs 57 lakh crore and advances above Rs 46 lakh crore.

Advances grew 15 per cent year on year, led by domestic loans. Retail advances rose 16 per cent, SME loans expanded 21 per cent, agriculture loans grew 16 per cent, while corporate advances increased 13 per cent.

Deposits increased 9 per cent year on year, with CASA deposits also rising 9 per cent. The CASA ratio stood at 39.13 per cent as of December 2025, while retail term deposits grew 14 per cent.

The bank reported a capital adequacy ratio of 14.04 per cent and a CET-1 ratio of 10.99 per cent. More than 68 per cent of savings bank accounts were opened digitally through Yono during the quarter, while alternate channels accounted for nearly 98.6 per cent of total transactions in the nine-month period.

In Friday's session, SBI shares fell about 0.7 per cent to close at Rs 1,066 on the NSE, underperforming the broader market, even as the Nifty 50 and Bank Nifty edged up marginally.

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