Equity

Net interest income rose 4.13% YoY to Rs 44,380 crore in Q4 FY26 from Rs 42,618 crore in Q4 FY25. However, NII declined 1.35% sequentially from Rs 44,987 crore in Q3 FY26.

Net interest margin for the domestic business contracted 21 bps YoY to 2.93% in Q4 FY26 from 3.14% in Q4 FY25. On a sequential basis, domestic NIM declined 18 bps from 3.11%.

Total income stood at Rs 1,40,412 crore in Q4 FY26, down 2.41% YoY from Rs 1,43,876 crore and marginally lower by 0.36% QoQ from Rs 1,40,915 crore.

Operating profit came in at Rs 27,704 crore in Q4 FY26, down 11.45% YoY from Rs 31,286 crore and lower by 15.70% sequentially from Rs 32,862 crore.

Total provisions declined 36.56% YoY to Rs 8,020 crore in Q4 FY26 from Rs 12,643 crore. Sequentially, provisions fell 32.23% from Rs 11,834 crore.

Loan loss provisions declined 20.78% YoY to Rs 3,140 crore and fell 2.34% QoQ.

Cost-to-income ratio rose 180 bps YoY to 55.09% in Q4 FY26 from 53.29%. Sequentially, it expanded 680 bps from 48.29%.

Interest income increased 3.00% YoY to Rs 1,23,098 crore, while interest expenses rose 2.37% YoY to Rs 78,718 crore.

Fee income grew 7.95% YoY to Rs 10,852 crore. However, profit/loss on sale and revaluation of investments turned to a loss of Rs 1,471 crore against a gain of Rs 6,879 crore in Q4 FY25.

Forex and derivatives income declined 55.99% YoY to Rs 1,258 crore.

Operating expenses declined 4.79% YoY to Rs 33,990 crore, while staff expenses fell 9.94% to Rs 16,215 crore.

Gross advances increased 16.87% YoY to Rs 49,32,627 crore as of 31 March 2026. Deposits rose 11.03% to Rs 59,75,642 crore.

Retail personal advances grew 15.22% YoY to Rs 17,35,778 crore, while home loans increased 13.66% to Rs 9,44,210 crore. As per latest available ASCB data, bank's market share in home loans is 28.1% and in auto loans is 18.7%.

Asset quality improved during the quarter. Gross NPA ratio declined 33 bps YoY to 1.49% from 1.82%, while net NPA ratio fell 8 bps YoY to 0.39% from 0.47%.

Provision Coverage Ratio stood at 74.36%, while PCR including AUCA stood at 91.97%.

Slippage ratio for FY26 improved by 1 bp YoY to 0.54%. Slippage ratio for Q4 FY26 stood at 0.47%. Credit cost improved to 0.37% in FY26 from 0.38% in FY25.

The bank's CET-1 ratio improved 148 bps to 12.29% as of 31 March 2026 from 10.81% a year earlier, while CRAR rose 115 bps to 15.40% from 14.25%.

For FY26, net profit rose 12.88% to Rs 80,032 crore from Rs 70,901 crore in FY25. Net interest income increased 4.08% to Rs 1,73,120 crore. Operating profit for FY26 rose 11.25% to Rs 1,23,015 crore, while total provisions increased 8.33% to Rs 42,983 crore.

State Bank of India is India's largest public sector lender with operations across retail banking, corporate banking, treasury, international banking and financial services.

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