• SBI financial performance: State Bank of India reported a 10.23% year-on-year growth in quarterly net profit to 21,121 crore rupees, while operating profit rose 9.77% to 33,529 crore rupees with a return on assets of 1.11%. Domestic net interest margins improved sequentially, supporting management's full-year guidance of 3%.
• Balance sheet expansion: Total business surpassed 110 trillion rupees, led by deposits exceeding 60 trillion rupees and advances crossing 50 trillion rupees. Credit growth remained broad-based, with the RAM portfolio rising 18.2% and overseas advances growing 21.38% in rupee terms.
• Asset quality metrics: The bank's gross NPA ratio declined to a multi-decade low of 1.47%, with net NPA improving to 0.38% and credit costs at 0.27%. The provision coverage ratio stood strong at 74.2%, backed by comfortable capital adequacy.
• Digital banking initiatives: Nearly 99% of transactions are now handled through alternate channels, supported by new offerings such as the YONO G virtual assistant, digital re-KYC, and the MSME Dream engine covering loans up to 10 crore rupees.