Overview
- SBI reported a record standalone Q3 FY26 net profit of ₹21,028 crore, up 24.5% year on year, aided by core income and a ₹2,200 crore special dividend from SBI Mutual Fund.
- Asset quality strengthened with the gross NPA ratio improving to 1.57% and net NPA to 0.39%, while whole-bank NIM held at 2.99% and domestic NIM at 3.12%.
- Management raised FY26 loan growth guidance to 13–15% and indicated NIM at or above 3% in Q4, citing a strong corporate pipeline and steady retail momentum.
- The stock hit fresh highs through February 10, lifting market capitalisation past ₹10 lakh crore to about ₹10.65 lakh crore and making SBI India’s sixth most valuable company and the second-most valuable bank by market value.
- Analysts broadly reiterated Buy ratings, with targets raised up to ₹1,300–₹1,305 and 42 of 49 tracked recommending Buy, while sector data showed PSBs posted a record ₹52,603 crore Q3 profit with SBI contributing roughly 40%.