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SBI posts Q1 profit growth as margins and credit improve
Net interest income rose more than 14% to ₹46,992 crore, while the domestic NIM increased 7 bps to 3.0% as SBI leaned on cheaper funding.
State Bank of India reported a Q1FY27 net profit increase of 10% year on year to ₹21,121 crore, citing stronger margins and operating efficiency, according to LiveMint Markets.
The bank also said net interest income climbed over 14% to ₹46,992 crore, and its domestic net interest margin expanded 7 basis points to 3.0% after the prior quarter’s compression, with management attributing the sequential improvement largely to a lower cost of funds.
SBI noted that advances grew 19% year on year to ₹50 trillion, led by agriculture at 25% and SME lending at 22%, while overall deposits grew less than 10%. In the same period, it described deposit strategy as avoiding expensive wholesale funding in favor of a growing retail franchise.
With deposits rising slower than advances, SBI’s credit deposit ratio (CDR) expanded to 83%, while its domestic CDR was 74%, leaving room for further credit growth, the outlet reported.