SBI Q2 profit rises 14% to ₹23,038 crore
What's the story
State Bank of India (SBI), the country's largest lender, has reported a net profit of ₹23,038 crore for the second quarter of FY27. The figure is up by 14.3% from ₹20,160 crore in the same period last year. The bank's net interest income (NII) also saw a significant jump during this period.
Financial growth
NII jumps by over 14% YoY
SBI's NII, which is the difference between interest earned and interest paid, rose by 14.7% year-on-year to ₹49,142 crore in Q2 FY27.
This is a significant increase from ₹42,847 crore recorded in the same quarter last year.
The bank's strong performance can be attributed to its robust lending operations and effective management of interest rates on deposits and loans.
Asset performance
GNPA ratio stood at 1.39%
On the asset quality front, SBI reported a gross non-performing assets (GNPA) ratio of 1.39% for the September quarter.
Meanwhile, its net non-performing assets (NNPA) ratio stood at 0.36%.