SBI’s Key Ratios of Q4FY26
Margins continued to face pressure during the quarter. The Net Interest Margin for the bank came in at 2.81%, down 18 bps YoY from 2.99% in Q4FY25 and 17 bps QoQ from 2.98% in Q3FY26. Domestic NIM followed a similar trend, contracting to 2.93% from 3.14% in Q4FY25, a drop of 21 bps YoY and 18 bps QoQ from 3.11% in Q3FY26. The Cost to Income Ratio widened to 55.09% in Q4FY26, up 180 bps YoY from 53.29% and a sharp 680 bps higher QoQ from 48.29% in Q3FY26. Cost to Assets, however, showed some improvement on a YoY basis, down 31 bps to 1.84% from 2.15% in Q4FY25, though it edged up 11 bps QoQ from 1.73%.
Asset Quality
On the asset quality front, SBI continued to make quiet but consistent progress through FY26. The Gross NPA ratio dropped to 1.49% in Q4FY26 from 1.82% in Q4FY25, an improvement of 33 bps YoY. On a QoQ basis, it declined 8 bps from 1.57% in Q3FY26, continuing the steady downward trajectory seen across all four quarters of the year. Net NPA ratio came down to 0.39% in Q4FY26 from 0.47% of Q4FY25, a reduction of 8 bps YoY, and remained flat QoQ from 0.39% in Q3FY26.
Credit Growth
Credit growth was one of the brighter parts of this result. Total Whole Bank Advances crossed ₹49 lakh crore, reaching ₹49,32,627 crore as of March 2026, up 16.87% from ₹42,20,703 crore in March 2025. Within the domestic book, SME was the star performer, growing 20.99% to ₹6,12,222 crore. Agri was close behind at 19.68%, reaching ₹4,17,097 crore. Retail Personal loans grew 15.22% to ₹17,35,778 crore, while Corporate advances rose 14.83% to ₹14,24,589 crore.
Overall Domestic Advances stood at ₹41,89,686 crore, up 16.33% on an annual basis. Foreign Offices Advances also did well, growing 20.01% to ₹7,42,941 crore. In terms of the mix within domestic advances, SME's share nudged up to 14.61% from 14.05%, and Agri moved to 9.96% from 9.68%. Corporate's share eased slightly from 34.44% to 34.00%, while Retail Personal stayed broadly stable at 41.43% compared to 41.83% a year ago.
Full Year FY26 Performance of SBI
Stepping back and looking at the full year, SBI's numbers are quite decent. Net Interest Income for FY26 grew 4.08% to ₹1,73,120 crore from ₹1,66,340 crore in FY25. Operating Profit rose 11.25% to ₹1,23,015 crore, up from ₹1,10,579 crore. Net Profit for the full year came in at ₹80,032 crore, a growth of 12.88% over ₹70,901 crore in FY25; a solid outcome, especially given the NIM compression seen through the year.
On the balance sheet side, Gross Advances grew 16.87% to ₹49,32,627 crore, and Total Deposits rose 11.03% to ₹59,75,642 crore from ₹53,82,190 crore in FY25. Capital Adequacy strengthened to 15.40% from 14.25%, an improvement of 115 bps, which gives the bank a comfortable buffer heading into FY27. The whole bank NIM on an annual basis declined 17 bps to 2.91% from 3.08% in FY25, and domestic NIM narrowed 18 bps from 3.21% to 3.03%, largely a reflection of the rate environment and the competitive pressure on deposit pricing.
Dividend Declaration
The Central Board of SBI has declared a dividend of ₹17.35 per equity share for FY26, which works out to 1,735% on the face value of ₹1 per share. The record date has been fixed as May 16, 2026, and the dividend payment is scheduled for June 4, 2026.
