Net interest income (NII) came in at Rs 41,620 crore, up 3.28% YoY but down 4.65% QoQ.

The bank’s net interest margin (NIM) for the whole bank stood at 2.97% in Q2 FY26, down 17 basis points (bps) YoY and up 7 bps QoQ. Domestic NIM was 3.09%, down 18 bps YoY and up 7 bps QoQ.

Operating income rose 10.56% YoY to Rs 62,903 crore, and 7.68% QoQ.

Operating profit grew 8.91% YoY to Rs 31,904 crore and increased 4.45% sequentially. Provisions rose to Rs 11,744 crore, up 7.14% YoY but down 3.17% QoQ.

Whole bank deposits grew 9.27% YoY, while CASA deposits increased 8.06% YoY. The CASA ratio stood at 39.63% as on 30 September 2025.

During the quarter, the cost-to-income ratio improved to 49.28% from 47.71% in Q1 FY26 and 48.51% a year ago. Cost to assets stood at 1.80%, up from 1.66% in the preceding quarter and 1.76% in the same quarter last year.

The bank’s gross non-performing assets (GNPA) stood at Rs 76,243 crore, down 2.30% QoQ and 8.55% YoY. Net NPA (NNPA) stood at Rs 18,460 crore, up 7.28% QoQ and 9.04% YoY.

On the asset quality front, the bank’s GNPA ratio reduced to 1.73% in Q2 FY26, compared with 1.83% in Q1 FY26 and 2.13% in Q2 FY25. The NNPA ratio stood at 0.42% in Q2 FY26, as against 0.47% in Q1 FY26 and 0.53% in Q2 FY25.

The Provision Coverage Ratio (PCR) improved by 13 bps YoY to 75.79%, while PCR (including AUCA) improved by 8 bps to 92.29%.

The slippage ratio for Q2 FY26 improved by 6 bps YoY to 0.45%, while the credit cost for the quarter stood at 0.39%.

The bank’s Capital Adequacy Ratio (CAR) as of the end of Q2 FY26 stood at 14.62%.

State Bank of India is engaged in providing a wide range of products and services to individuals, commercial enterprises, large corporates, public bodies, and institutional customers.

The counter rose 0.43% to Rs 954.30 on the BSE.