SBI Chairman Lauds India-US Trade Deal, Reports Record Profit Surge

In a significant endorsement of India's recent trade policies, the State Bank of India (SBI) Chairman, CS Setty, expressed optimism about the positive implications of the India-US trade agreement and other FTAs for the Indian economy. Speaking at a press conference, Setty emphasized the absence of tariff overhangs and the strategic opportunities these deals provide for Indian corporates and MSMEs to engage with global supply chains.

Setty also commented on the Reserve Bank of India's decision to maintain the current repo rate, which was anticipated and has been well-received by the banking community. He noted the central bank's proactive stance on liquidity management as a crucial factor in sustaining banking system confidence, ensuring unabated credit growth.

Highlighting SBI's robust financial health, Setty revealed the bank's record performance metrics for Q3FY26, including a net profit of Rs 21,028 crore. The bank's advances and deposits showed marked growth, with the SME segment witnessing a notable uptick. Furthermore, SBI's asset quality improved, with declines in NPAs and an increase in digital adoption, as evidenced by over two-thirds of savings accounts opened via the YONO platform.