State Bank of India (SBIN) investor relations material

Executive summary

• Net profit for Q1 FY27 reached ₹21,121 crore, up 10.23% year-over-year, with operating profit at ₹33,529 crore, supported by strong operating performance and disciplined cost management.

• Consolidated net profit for the quarter was ₹24,579.04 crore, compared to ₹20,161.30 crore in Q1 FY26.

• Total business surpassed ₹110 trillion, with deposits over ₹60 trillion and advances above ₹50 trillion.

• Asset quality improved, with gross NPA at 1.47% and net NPA at 0.38%, the lowest in over two decades.

• Digital transactions accounted for 98.8% of total transactions, with over 10.5 crore registered YONO users.

Financial highlights

• Net Interest Income rose 14.88% YoY to ₹46,992 crore; operating income up 7.70% YoY to ₹62,915 crore.

• Deposit growth was 0.5% sequentially, advances grew 2.32%, and overall business grew 1.33% quarter-on-quarter.

• Fee income increased 20.83% YoY, now at 15% of total income, with potential to reach 20%.

• Cost-to-income ratio improved to 46.71% from 47.71% YoY.

• Interest on income tax refund was ₹220 crore in Q1 FY27, down from ₹1,100 crore in Q4 FY26.

Outlook and guidance

• Full-year NIM guidance maintained at 3%.

• Credit growth guidance revised to 14%-15%, anchored on nominal GDP expectations.

• Management emphasizes continued focus on digital transformation, asset quality, and sustainable growth.

• No significant NIM impact expected from FCNRB flows, either domestically or overseas.

• The bank continues to follow prudent provisioning and risk management practices.