SBI posts robust Q1 on strong loan growth

Mumbai: State Bank of India on Friday reported a 13.73 per cent increase in its June quarter consolidated net profit at Rs 24,113 crore as core income improved and provisions declined.

On a standalone basis, the bank’s net profit grew 10.23 per cent on-year to Rs 21,121.22 crore as against Rs 19,160.44 crore in April-June 2025, as per an exchange filing. The bank’s core net interest income rose nearly 15 per cent to Rs 46,992 crore on the back of a 18.63 per cent increase in gross advances, while the domestic net interest margin contracted to 3 per cent.

The bank, however, was able to expand on the NIM when compared on-quarter, with the number widening by 0.07 per cent. Its non-interest income dropped 9 per cent at Rs 15,293 crore, largely because of a 70 per cent drop in the forex or derivatives income.

Its deposit growth came at 9.73 per cent and the share of the low-cost current and saving advances declined by 0.12 per cent on-year to 39.36 per cent.