SBI's third quarter results were excellent
New Delhi. India's largest bank State Bank of India (SBI) on Saturday presented the financial results for the third quarter of its current financial year. Its standalone net profit in the third quarter increased 24% year-on-year to Rs 21,028 crore. Net interest income during the same period increased by 9% year-on-year to Rs 45,190 crore. At the same time, the operating profit of the bank (before provision and contingencies) increased by 40% on an annual basis to Rs 32,862 crore.
Highest quarterly profit ever
The bank made its highest ever profit in the December quarter, which was due to healthy loan growth. 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 stood at 3.08%. Asset quality continued to improve, with the gross NPA ratio falling to 1.57%, 50 basis points lower than last year. Net NPA ratio improved to 0.39%, which is 14 basis points lower.
What was the domestic advances growth?
The provision coverage ratio (PCR) including AUCA (Advance Under Collection Account) stood at 92.37%, while PCR excluding AUCA was 75.54%. Slippage ratio remained under control at 0.40% in the quarter, and credit cost stood at 0.29%. In terms of balance sheet, SBI's total business stood at over Rs 103 lakh crore, with deposits at over Rs 57 lakh crore and advances at over Rs 46 lakh crore. The bank's advances grew by 15% year-on-year, of which domestic advances grew by 15%.
How much did the advances of which segment increase?
Retail advances grew 16%, with all sub-segments seeing double-digit growth. SME advances grew sharply by 21%, while agricultural advances grew by 16% and retail personal loans by 15%. Corporate advances also registered a good growth of 13%. Deposits grew by 9% year-on-year, with CASA deposits growing by 9%. The CASA ratio as of December 2025 stood at 39.13%, while retail term deposits grew by 14%, reflecting continued momentum in liability mobilisation. The bank's capital adequacy ratio stood at 14.04% and CET-1 ratio at 10.99%. More than 68% of savings bank accounts were opened through the Yono app in Q3 and alternative channels accounted for about 98.6% of total transactions during the nine-month period.
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