The bank’s net interest margin (NIM) for the whole bank stood at 2.90% in Q1 FY26, down 10 basis points sequentially and 32 basis points YoY. Domestic NIM came in at 3.02%, down 13 bps QoQ and 33 bps YoY.

Non-interest income surged 55.4% YoY to Rs 17,346 crore but declined 28.35% from the March quarter. Operating income rose 11.73% YoY to Rs 58,418 crore, though it slipped 12.79% QoQ.

Operating profit grew 15.49% YoY to Rs 30,544 crore but fell 2.37% sequentially. Provisions rose to Rs 11,384 crore, up 20.93% YoY but down 9.96% QoQ.

Whole bank deposits grew by 11.66% YoY. CASA deposit grew by 8.05% YoY. CASA ratio stood at 39.36% as on June 2025 compared with 39.97% in March 2025 and 40.70% in June 2024.

Cost-to-income ratio improved to 47.71% from 53.29% in Q4 FY25 and 49.42% a year ago. Cost to assets stood at 1.66%, down from 2.15% in the preceding quarter and 1.67% in the same quarter last year.

SBI’s asset quality remained largely stable in Q1 FY26, with gross non-performing assets (GNPA) at 1.83%, marginally higher than 1.82% in Q4 FY25 but lower than 2.21% in Q1 FY25. Net NPA was steady at 0.47%, unchanged sequentially and down from 0.57% a year earlier.

Provision coverage ratio (PCR) with Advances Under Collection Accounts (AUCA) stood at 91.71% versus 92.08% in the preceding quarter and 91.76% a year ago, while PCR without AUCA was at 74.49% compared to 74.42% in Q4 FY25 and 74.41% in Q1 FY25.

Slippage ratio rose to 0.75% from 0.42% in Q4 FY25 but was lower than 0.84% in Q1 FY25. Credit cost came in at 0.47%, up from 0.39% sequentially, but almost flat compared to 0.48% in Q1 FY25.

Following the result, the SBI stock rose 0.17% to Rs 806.65 on the BSE.