State Bank of India is expected to report 11.2% year-on-year net profit growth for the September quarter, alongside double-digit net interest income growth.

State Bank of India reduced inoperative Pradhan Mantri Jan Dhan Yojana accounts to 40.96 million as of 23 September 2026 from 44.73 million a year earlier, with its inoperative ratio falling to 22% from 25%, contrasting the rise at private banks, according to government data reviewed by Mint.

State Bank of India raised $2.9 billion through a qualified institutional placement facilitated by HSBC, alongside HSBC-facilitated QIPs for JSW Infrastructure and Biocon during January-September 2026.

Nomura said State Bank of India's reported Q2FY27 profit after tax is cushioned by a one-off Rs 73.5 billion stake-sale gain as hardened G-sec yields weighed on treasury income, with underlying deposit growth of 11.5% and broadly flat net interest margin.

State Bank of India Chairman C S Setty said the bank sees no deposit rate action for the next two to three months due to sufficient system liquidity, while Reserve Bank of India rate hikes should support net interest margins for the next two to three quarters. He said State Bank of India can sustain loan-book growth at 14-15%, about 2-3 percentage points above an assumed 12% nominal GDP growth, but added that sustained elevated credit growth could force some banks to raise deposit rates.