State Bank of India Achieves Record-Breaking Profits Amid Strategic Expansions

The State Bank of India (SBI) announced a significant milestone, achieving its highest ever net profit of Rs 21,317 crore for the December quarter. This represents a 13% increase, aided by a Rs 2,200 crore special dividend from its asset management arm and vibrant growth in loans and deposits.

The bank's core net interest income rose by 9.04% to Rs 45,190 crore, reflecting a robust 15.14% loan growth. Encouraged by positive corporate and retail loan dynamics, Chairman C S Setty revised the loan growth target to 13-15% for FY26, up from the previous 12-14% estimate.

SBI is poised to leverage strategic developments, including new trade agreements between India and the US. Despite structural economic shifts impacting traditional savings, the bank is confident in its growth trajectory, bolstered by extensive resource reserves and a proactive deposit mobilization strategy.