State Bank of India (SBI) reported 24% year-on-year record (all-time high) standalone net profit at Rs 21,028 crore for the December quarter of FY26, reflecting consistent growth in core earnings and recovery trends.On a consolidated basis, the state-owned lender’s profit rose 13.06 per cent to Rs 21,317 crore during the quarter, PTI reported.The bank’s standalone net interest income (NII) grew 9.04 per cent year-on-year to Rs 45,190 crore from Rs 41,446 crore in the same period last year. Growth was supported by credit expansion at 15.14 per cent, while domestic net interest margin witnessed a marginal decline of 0.03 per cent to 3.12 per cent.Non-interest income grew 15.65 percent to Rs 8,404 crore during the quarter. Meanwhile, total expenses increased to Rs 1,08,052 crore compared to Rs 1,04,917 crore in Q3 FY25. The bank’s net interest margin (NIM) stood at 2.99% in Q3FY26, while domestic NIM stood at 3.12%. For the nine months ending December 2025, domestic NIM was recorded at 3.08%.Deposit growth during the October-December period stood at 9.02 percent. The latest slippage was recorded at Rs 4,458 crore, which is higher than Rs 3,823 crore in the year-ago period.On asset quality, the gross non-performing assets (GNPA) ratio improved to 1.57 per cent by December 31, 2025, compared to 1.73 per cent at the end of September. Total provisions increased to Rs 4,507 crore against Rs 911 crore in the year-ago period.The provision coverage ratio (PCR) including AUCA was 92.37%, while the PCR excluding AUCA was 75.54%. Slippage ratio remained limited at 0.40% and credit cost stood at 0.29%, ET reported. On the balance sheet front, SBI’s total business crossed Rs 103 lakh crore. Deposits crossed Rs 57 lakh crore, while advances crossed Rs 46 lakh crore.The bank’s overall capital adequacy ratio as of December 31, 2025, stood at 14.04 per cent, with a core capital buffer of 10.99 per cent.Digital adoption remained strong, with over 68% of savings bank accounts opened through YONO in the third quarter. The share of alternative channels in total transactions during the nine-month period was approximately 98.6%.At a press conference, SBI Chairman CS Setty said a special dividend of Rs 2,200 crore from SBI Mutual Fund supported profit growth during the quarter, along with higher fee income, recovery from written off accounts and net interest income.
