SBI posts record Q1 profit of ₹21,121 crore, up 10%

State Bank of India reported its highest-ever quarterly net profit for the first quarter of the 2026-27 financial year, driven by robust loan growth and improved asset quality. The country's largest lender announced on Friday, August 7, 2026, that its net profit rose 10.23 percent year-on-year to a record 21,121 crore rupees.

The strong performance was supported by a 14.88 percent increase in net interest income to 46,992 crore rupees, as gross advances grew 18.63 percent to surpass 50 lakh crore rupees. This expansion helped the bank's total business cross the 110 lakh crore rupee milestone for the first time, with deposits exceeding 60 lakh crore rupees. Chairman C.S. Setty, speaking after the results announcement, projected loan growth of 14-15 percent and deposit growth of 10-11 percent for the full financial year.

A key factor in the profitability was the improvement in the bank's domestic net interest margin, which reached 3 percent, reinforcing the bank's guidance to maintain that level for the year. This came despite a sharp 70 percent decline in treasury and foreign exchange income, which fell to approximately 2,500 crore rupees after the bank unwound a large net open...