State Bank of IndiaRecord ₹21,121 Cr Profit, NIM Held at 3%

SBI posted a record Q1 FY27 net profit of ₹21,121 Cr, with operating profit up 9.77% and domestic NIM steady at 3%, which management says supports its full-year guidance.

Total business crossed ₹110 trillion, with deposits above ₹60 trillion and advances above ₹50 trillion. Year-on-year credit growth was above 18% on a muted base, but the Chairman guided FY27 credit growth to 14-15%, anchored to nominal GDP growth of 12-12.5% plus 2-3 points. Fresh slippages rose to ₹7,046 Cr, which management called seasonal, with ₹1,400 Cr already pulled back. SBI has raised about $6 billion of FCNR(B) deposits, expects roughly $10 billion with no formal target and sees no margin impact.

Gold loans crossed ₹3.1 trillion at 8.5-8.9% yields, and a new collections vertical with about 6,000 Feet on Street is being built to open up self-employed personal loans. ECL numbers will come with Q2 results, with no major impact expected, and SBI General is the next listing candidate with no timeline.