State Bank of India (SBI), India's largest lender, reported a 14.3 per cent increase in standalone net profit for the July-September quarter of financial year 2026-27 (Q2FY27). The bank's profit stood at Rs 23,038 crore, up from Rs 20,160 crore in the corresponding period of the previous financial year. The improvement in profitability was supported by strong growth in net interest income (NII) and a reduction in provisions and contingencies.
\n\nSBI also reported an improvement in its asset quality indicators, with both gross and net non-performing asset (NPA) ratios declining compared with the year-ago period as well as the preceding quarter.
\n\nSBI's net interest income, which represents the difference between interest earned and interest paid, increased 14.7 per cent year-on-year to Rs 49,143 crore in Q2FY27. The figure stood at Rs 42,847 crore in the corresponding quarter of the previous year.
\n\nThe bank also recorded sequential growth in NII, with the figure rising 4.6 per cent from Rs 46,992 crore reported in the April-June quarter (Q1FY27).
\n\nHowever, the lender witnessed a decline in other income during the September quarter. Other income fell 23.8 per cent year-on-year to Rs 11,777 crore, compared with Rs 15,463 crore in Q2FY26.
\n\nOn a quarter-on-quarter…
Original source: https://www.timesnownews.com/business-economy
