SBI Q2 profit rises 14.28% to ₹23,038 Cr; NSE stake sale money left out
State Bank of India's quarterly profit grew, but the ₹2,850-crore NSE sale proceeds did not count towards it.
The 30-second read
- SBI's Q2 net profit was ₹23,038 crore, up 14.28% from a year earlier.
- The ₹2,850-crore NSE stake sale proceeds are not in that profit, because of how SBI classifies the holding.
- Gross bad loans were 1.39% of advances, and Chairman C.S. Setty hopes to keep margin above 3%.
IllustrationState Bank of India reported its second-quarter results on Tuesday, November 3, 2026. Net profit was ₹23,038 crore, up 14.28% year on year, as reported by Business Today and The Hindu. Net interest income was ₹49,143 crore.
The proceeds from selling a stake in NSE, ₹2,850 crore, were left out of the quarter's profit. This was first reported by CNBC-TV18, which said the reason lies in how SBI classifies that investment in its books. CNBC-TV18 also first reported an exceptional gain of ₹7,288 crore from the sale of a stake in SBI Funds Management.
The Hindu first reported the asset quality and margin data. Gross NPA stood at ₹72,529 crore, a ratio of 1.39%. Loan-loss provisions fell 33.23% to ₹2,759 crore. Net interest margin was 3.11%, from 3.08%. Gross advances were ₹52.08 lakh crore and deposits were ₹62.78 lakh crore.
On the margin outlook, C.S. Setty, Chairman of SBI, said: "In case there is any further repo action, EBLR portfolio further gets repriced quickly. This will add maybe 4-5 basis points to NIM. Even assuming that there will be some increase in the deposit rate, we hope to maintain above 3%."
Why it matters
SBI is India's largest lender, so its profit, falling bad loans and margin outlook matter to depositors, borrowers and investors in the stock. The NSE point also shows that headline profit may not capture every gain.
The data
| Metric | Value |
|---|---|
| Net profit | ₹23,038 crore, up 14.28% YoY |
| Net interest income | ₹49,143 crore |
| Net interest margin | 3.11% from 3.08% |
| Gross NPA | ₹72,529 crore (1.39%) |
| Loan-loss provisions | ₹2,759 crore, down 33.23% |
| Gross advances | ₹52.08 lakh crore |
| Deposits | ₹62.78 lakh crore |
