Company Update

State Bank of India reported its highest-ever quarterly net profit of Rs. 21,121 crore, a 10.23% year-on-year increase for Q1 FY27. Operating profit climbed 9.77% to Rs. 33,529 crore, with net interest income growing 14.88% to Rs. 46,992 crore.

Total business surpassed Rs. 110 lakh crore, driven by robust growth in advances and deposits.

Asset quality significantly improved, with Gross NPA at 1.47% and Net NPA at 0.38%, hitting two-decade lows.

The bank’s strong financial metrics and digital advancements show solid performance.