State Bank of India Ltd on August 8 reported 12% rise in net profit at Rs 19,160 crore for the June quarter as compared to Rs 17,035 crore a year ago.
SBI's Q1 net profit has beat estimates as a Moneycontrol poll pegged its bottom line at Rs 17,166 crore.
Total income for the quarter rose 10.31 percent to Rs 1.35 lakh crore from Rs 1.22 lakh crore a year ago.
Net interest income stood almost flat at Rs 41,072 crore, down 0.13 percent year-on-year, as the whole-bank net interest margin (NIM) declined 32 basis points to 2.90 percent, while the domestic NIM fell 33 bps to 3.02 percent.
Operating profit rose 15.49 percent to Rs 30,544 crore, aided by higher non-interest income, which surged 55.40 percent to Rs 17,346 crore.
Return on assets improved to 1.14 percent from 1.10 percent a year earlier, while return on equity moderated slightly to 19.70 percent from 20.98 percent.
The cost-to-income ratio improved to 47.71 percent from 49.42 percent in Q1FY25.
On the business front, gross advances rose 11.61 percent year-on-year to Rs 42.55 lakh crore, driven by growth across segments. Retail personal loans grew 12.56 percent, SME loans 19.10 percent, agricultural loans 12.67 percent, and corporate loans 5.70 percent.
Total deposits increased 11.66 percent to Rs 54.73 lakh crore, with current account deposits jumping 30.69 percent and savings bank deposits up 4.71 percent. The CASA ratio stood at 39.36 percent, slightly lower than 40.70 percent a year ago.
Asset quality continued to strengthen, with the gross non-performing assets (NPA) ratio improving to 1.83 percent from 2.21 percent in Q1FY25 and the net NPA ratio falling to 0.47 percent from 0.57 percent. The provision coverage ratio (PCR) was 74.49 percent, or 91.71 percent including accounts under collection, while the credit cost was steady at 0.47 percent.
SBI’s capital position remained strong, with the capital adequacy ratio (CRAR) at 14.63 percent as of June 30, 2025, and the common equity tier-1 (CET-1) ratio at 11.10 percent. Including the Q1FY26 profit, the CRAR improves to 15.16 percent and the CET-1 ratio to 11.63 percent.
At 1:18 pm on August, SBI shares were trading 0.4% lower at Rs 802 apiece.
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