SBI hits record net profit of $2.32b in Q3 FY2026

Operating profit rose almost 40% although NIM fell to 3.12%.

State Bank of India (SBI) achieved its highest quarterly net profit in Q3 FY2026, achieving $2.32b (INR 21,028 crores), 24.49% year-on-year (YoY) higher than a year ago.

Operating profit rose 39.54% YoY to $3.63b (INR 32,962 crores) during the same period, SBI’s latest financial highlights showed.

Net interest margin (NIM) fell 3 basis points (bp) to 3.12% in Q3 FY2026, from 3.15% in Q3 FY2025.

Net interest income rose 9.04% YoY to $4.98b (INR 45,190 crores), whilst loan loss provisions fell by 39.54% YoY to $354.38m (INR 3,216 crores).

Credit cost for Q3 FY2026 stood at 0.29%, whilst provision coverage ratio (PCR) increased 88 bps to 75.54%.

For 9M FY2026, SBI’s net profit is $6.65b (INR 60,348 crores), 15.48% YoY higher than the 9M FY2025 period.

Net interest income for the nine month period rose 4.07% YoY to $14.24b (INR 1,29,247 crores); whilst operating profit is 20.2% higher at about $10.5b (INR 95,311 crores).

Capital adequacy ratio as of the end of Q3 FY2026 stood at 14.04%.

Gross NPA ratio is at 1.57%, improving 50 bps from Q3 FY2025.

(US$1 = INR 90.75)