SBI Q3 results: Net profit rises 24.5% YoY to ₹21,028cr
What's the story
The State Bank of India (SBI), has reported a 24.5% year-on-year (YoY) growth in its standalone net profit for the third quarter (FY26) to ₹21,028.15 crore, from ₹16,891.44 crore in the same quarter last year. The bank's net interest income for the period also witnessed a 9% YoY rise to ₹45,190 crore. The operating profit (before provisions and contingencies) grew by an impressive 39.54% YoY to ₹32,862 crore.
Record performance
Net interest margin at 2.99%
The profit reported during the quarter was SBI's highest-ever, driven by robust loan growth. The bank's net interest margin stood at 2.99% in Q3 FY26, while domestic NIM was at 3.12%. For the nine months ending December 2025, domestic NIM was recorded at 3.08%. This indicates a consistent performance across different time frames for SBI's financial health indicators.
Improvement indicators
Gross NPA ratio at 1.57%
SBI also reported an improvement in its asset quality, with the gross NPA ratio declining to 1.57%, down 50 basis points YoY. The net NPA ratio improved to 0.39%, lower by 14 basis points. The provision coverage ratio, including AUCA, stood at 92.37%, while PCR excluding AUCA was at a healthy 75.54%.
Business growth
Total business crosses ₹103L crore
On the balance sheet front, SBI's total business crossed ₹103 lakh crore, with deposits exceeding ₹57 lakh crore and advances crossing ₹46 lakh crore. The bank's advances grew by 15% YoY, driven by a domestic advance growth of 15.44%. Retail advances increased by 16%, with all sub-segments witnessing double-digit growth. SME advances grew sharply by 21%, while agricultural advances rose by 16% and retail personal loans increased by 15%. Corporate advances also witnessed healthy growth at 13%.
Deposit growth
CASA deposits grow by 9% YoY
SBI's deposits grew by 9% YoY, with CASA deposits rising by the same percentage. The CASA ratio stood at 39.13% as of December 2025, while retail term deposits grew by an impressive 14%. This demonstrates SBI's continued success in mobilizing liabilities and attracting funds from customers through various deposit products offered by the bank.