In short: SBI's Q2 FY27 net interest income rose 14.7% to ₹49,143 crore from a year earlier, and net profit rose 14.3% to ₹23,038 crore. Net interest margin (domestic) was 3.11%, up 11 bps from the previous quarter. The profit includes a ₹7,288 crore pre-tax gain on selling 6.30% of SBI Funds Management; operating profit before that gain fell 19.7% from June as other income dropped and costs rose.
What changed in SBI's Q2 FY27 results
- Net interest income was ₹49,143 crore, up 14.7% from a year earlier and up 4.6% from the previous quarter.
- Net profit was ₹23,038 crore, up 14.3% from a year earlier and up 9.1% from the previous quarter.
- Operating profit before provisions was ₹26,937 crore, down 1.4% from a year earlier and down 19.7% from the previous quarter; provisions were ₹4,217 crore, against ₹5,400 crore a year earlier.
- Net interest margin (domestic) was 3.11%, up 11 bps from the previous quarter and up 3 bps from a year earlier.
- Net advances were ₹51,54,323 crore, up 18.2% from a year earlier.
- Deposits were ₹62,77,919 crore, up 12.3% from a year earlier and up 4.5% from the previous quarter.
- Domestic CASA ratio (period-end) was 38.32%, against 39.24% in the previous quarter and 39.63% a year earlier.
- Gross NPA ratio was 1.39%, against 1.47% in the previous quarter and 1.73% a year earlier; net NPA ratio was 0.36%, against 0.38% in the previous quarter and 0.42% a year earlier. Provision coverage was 74.43% (91.83% including technical write-offs).
- Credit cost for the quarter was 22 bps, as the bank reports it.
- Capital adequacy ratio was 16.09%, against 15.67% a quarter earlier and 14.62% a year earlier.
SBI Q2 FY27 results at a glance
| Metric | Q2 FY27 | Q1 FY27 | Q2 FY26 | QoQ | YoY |
|---|---|---|---|---|---|
| Net interest income (₹ crore) | 49,143 | 46,992 | 42,847 | +4.6% | +14.7% |
| Operating profit (₹ crore) | 26,937 | 33,529 | 27,311 | −19.7% | −1.4% |
| Provisions (₹ crore) | 4,217 | 5,047 | 5,400 | −16.4% | −21.9% |
| Net profit (₹ crore) | 23,038 | 21,121 | 20,160 | +9.1% | +14.3% |
| Net advances (₹ crore) | 51,54,323 | – | 43,61,737 | – | +18.2% |
| Deposits (₹ crore) | 62,77,919 | 60,05,805 | 55,91,700 | +4.5% | +12.3% |
| Net interest margin (domestic) | 3.11% | 3.00% | 3.08% | +11 bps | +3 bps |
| Domestic CASA ratio (period-end) | 38.32% | 39.24% | 39.63% | −92 bps | −131 bps |
| Gross NPA ratio | 1.39% | 1.47% | 1.73% | −8 bps | −34 bps |
| Net NPA ratio | 0.36% | 0.38% | 0.42% | −2 bps | −6 bps |
| Capital adequacy ratio | 16.09% | 15.67% | 14.62% | +42 bps | +147 bps |
Genvest analysis
Standalone net profit was ₹23,038 crore, up 14.3% from ₹20,160 crore a year earlier and 9.1% from the June quarter. It includes an exceptional pre-tax gain of ₹7,288 crore from selling a 6.30% stake in SBI Funds Management, which runs SBI Mutual Fund, before and in its IPO; SBI's holding fell to 55.56% from 61.86%. A year earlier the exceptional item was a ₹4,593 crore gain on selling Yes Bank shares. Before exceptional items and tax, profit was ₹22,720 crore, up 3.7% from a year earlier and down 20.2% from June.
Operating profit before provisions was ₹26,937 crore in the results filing, down 19.7% from June and 1.4% from a year earlier. SBI's press release puts it at ₹34,226 crore, up 7.3%, because it counts the stake-sale gains of both years as income. Net interest income rose 14.7% from a year earlier to ₹49,143 crore, but other income excluding those gains fell 23.8% to ₹11,777 crore, even though fee income rose 9.6% to ₹9,549 crore; forex and derivatives income fell 46% to ₹529 crore. Operating expenses rose 9.6% to ₹33,983 crore: staff costs were almost unchanged from June at ₹17,452 crore, while overheads rose to ₹16,531 crore from ₹11,962 crore.
The domestic net interest margin rose to 3.11% from 3.00% in June and 3.08% a year earlier; the whole-bank margin was 2.94%. Gross advances rose 17.8% from a year earlier and 3.2% in the quarter to ₹52,08,344 crore. In India, agriculture loans grew 22.6%, small business loans 22.0%, corporate loans 16.1% and retail personal loans 14.5%, with home loans up 11.9%. Deposits rose 12.3% to ₹62,77,919 crore, but current and savings deposits grew 8.1%, so the domestic CASA ratio fell to 38.32% from 39.24% in June and 39.63% a year earlier.
Bad loans kept falling. Gross NPAs were 1.39% of advances, against 1.47% in June and 1.73% a year earlier, and net NPAs 0.36%. Fresh slippages were ₹5,227 crore, against ₹7,046 crore in June, a slippage ratio of 0.41%. Provisions for bad loans fell to ₹2,759 crore from ₹3,359 crore in June and ₹4,132 crore a year earlier, and credit cost was 0.22%. Provision coverage was 74.43%, or 91.83% counting fully provided loans moved to the advances under collection account. Capital adequacy was 16.09%, with a CET1 ratio of 13.34%.
Two other gains did not pass through profit. SBI sold 0.65% of the National Stock Exchange in its IPO on 24 September, for a post-tax profit of ₹2,410 crore, and 3.37% of ARCIL in its IPO, for ₹81 crore; under RBI's investment rules both went straight to capital reserve. And after RBI scrapped the investment fluctuation reserve in May, SBI moved the ₹11,522 crore balance to its general reserve.
On Yes Bank, in which SBI holds 10.78%, the Supreme Court in October upheld the Bombay High Court ruling against the 2020 write-down of ₹8,415 crore of Yes Bank's AT1 bonds. SBI says Yes Bank is still assessing the judgment, and it has made no provision for impairment in the meantime.
What SBI's results mean for fund investors
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SBI Q2 FY27 results: questions
When did SBI announce Q2 FY27 results?
SBI announced its Q2 FY27 results on 3 November 2026.
What was SBI's Q2 FY27 net profit?
Net profit was ₹23,038 crore, up 14.3% from a year earlier and up 9.1% from the previous quarter.
What was SBI's Q2 FY27 net interest income?
Net interest income was ₹49,143 crore, up 14.7% from a year earlier and up 4.6% from the previous quarter.
What was SBI's gross NPA in Q2 FY27?
Gross NPA ratio was 1.39%, against 1.47% in the previous quarter and 1.73% a year earlier; net NPA ratio was 0.36%, against 0.38% in the previous quarter and 0.42% a year earlier. Provision coverage was 74.43% (91.83% including technical write-offs).
What was SBI's net interest margin in Q2 FY27?
Net interest margin (domestic) was 3.11%, up 11 bps from the previous quarter and up 3 bps from a year earlier.
Why did SBI's profit rise in Q2 FY27?
Net profit rose 14.3% from a year earlier to ₹23,038 crore, but it includes a ₹7,288 crore pre-tax gain from selling a 6.30% stake in SBI Funds Management, the company that runs SBI Mutual Fund. Before exceptional items and tax, profit rose 3.7% from a year earlier and fell 20.2% from the June quarter, as other income fell and operating expenses rose.
What was SBI's operating profit in Q2 FY27?
Operating profit before provisions was ₹26,937 crore in the results filing, down 19.7% from the June quarter and 1.4% from a year earlier. SBI's press release gives ₹34,226 crore, up 7.3%, because it includes the ₹7,288 crore gain on SBI Funds Management shares and, a year earlier, the ₹4,593 crore gain on Yes Bank shares.
How much did SBI make from the SBI Funds Management IPO?
SBI sold 12.83 crore shares, a 6.30% stake, in SBI Funds Management before and in its IPO, for a pre-tax profit of ₹7,288 crore, shown as an exceptional item in its Q2 FY27 results. It still holds 55.56% of the company.
Other bank Q2 FY27 results
- RBL Bank Q2 FY27 results · 12 October 2026 · net profit +169.9% YoY
- HDFC Bank Q2 FY27 results · 17 October 2026 · net profit +4.7% YoY
- ICICI Bank Q2 FY27 results · 17 October 2026 · net profit +20.1% YoY
- Axis Bank Q2 FY27 results · 17 October 2026 · net profit +37.6% YoY
- IndusInd Bank Q2 FY27 results · 23 October 2026 · net profit against a ₹445 crore loss a year earlier
- Kotak Mahindra Bank Q2 FY27 results · 24 October 2026 · net profit +29.5% YoY
- IDFC First Bank Q2 FY27 results · 24 October 2026 · net profit +196.5% YoY
- SBI Q2 FY27 results · 3 November 2026 · net profit +14.3% YoY
All bank Q2 FY27 results in one place
Sources
- State Bank of India: Q2 FY27 standalone and consolidated results, 3 November 2026
- State Bank of India: Q2 FY27 press release, 3 November 2026
- State Bank of India: Q2 FY27 analyst presentation, 3 November 2026
- State Bank of India: prior intimation of board meeting and analyst meet, 26 October 2026
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