• Net interest margins: State Bank of India maintains an exit NIM guidance of 3% and expects NIM to stay at 3% or above in FY27 as Q4 NII pressure from the December 25-basis-point rate cut subsides.
• Deposit growth target: After delivering 11.4% deposit growth led by retail term deposits and savings accounts, the bank targets 11% to 12% growth this financial year, supported by roughly 3 lakh crore rupees in excess SLR.
• Credit growth guidance: Management reaffirmed its overall loan growth guidance of 13% to 15% across segments, citing strong momentum observed in April despite macroeconomic uncertainties.
• Corporate lending outlook: Corporate loan growth of 13% to 14% is expected to remain feasible, backed by a loan pipeline of about 5 trillion rupees, steady corporate capex commitments, and migration from market borrowings.