SBI's Q2 results: Net profit jumps 10% YoY to ₹20,160cr
What's the story
The State Bank of India (SBI) has reported a 10% year-on-year increase in its standalone net profit for the second quarter of FY26. The bank's net profit stood at ₹20,160 crore as against ₹18,331 crore in the same quarter last year. This figure is higher than market expectations which projected a decline of up to 17% in SBI's Q2 net profit.
Financial growth
Net Interest Income (NII) for Q2 FY26
SBI's Net Interest Income (NII) for Q2 FY26 increased by 3.3% year-on-year to ₹42,984 crore from ₹41,620 crore in Q2 FY25. The bank also reported an interest income of ₹1,19,654 crore during the quarter under review. This is a 5% increase over the same period last year when it was ₹1,13,871 crore.
Expenditure details
Interest expenditure and sequential growth
SBI's interest expenditure for the quarter under review stood at ₹76,670 crore. This is a 6% increase from ₹72,251 crore in the same quarter of the previous financial year. The bank also saw a sequential growth in its net profit by 5.5% to ₹20,160 crore as against ₹19,160 crore in Q1 FY26.
Profit margins
Net Interest Margin (NIM) and operating profit
SBI's Net Interest Margin (NIM) for Q2 FY26 stood at 2.97%, with a domestic NIM of 3.09%. For H1 FY26, the overall and domestic NIMs were 2.93% and 3.05%, respectively. The bank's operating profit also witnessed an increase of 8.9% YoY to ₹31,904 crore in Q2 FY26, further highlighting its financial performance during this period.