समाचार Samāchār · Business · 3 November 2026

SBI earned ₹23,038 crore. Before the stake sale, operating profit fell 1.4%

State Bank’s second-quarter profit rose 14.3%. A one-time gain and lower provisions did much of the lifting. Loans grew 17.84%. Deposits grew 12.27%.

State Bank of India reported standalone net profit of ₹23,038 crore for the September quarter on Tuesday, about $2.4 billion. That is 14.3% more than a year ago. The headline is correct. It is not the whole picture. Operating profit before exceptional items fell 1.4% to ₹26,937 crore from ₹27,311 crore.

Two lines made the difference. SBI booked a pre-tax exceptional gain of ₹7,288 crore from selling a 6.30% stake in SBI Funds Management. Its holding is now 55.56%. Last year’s exceptional gain was ₹4,593 crore. Provisions fell 21.9% to ₹4,217 crore. Against that, other income fell 23.8% to ₹11,777 crore and operating expenses rose 9.6% to ₹33,983 crore. A stake sale pays once.

The core lending business is strong. Net interest income rose 14.7% to ₹49,143 crore. The domestic margin stood at 3.11%. Gross bad loans fell to 1.39% from 1.73% a year ago. Net bad loans fell to 0.36%. Credit cost was 0.22% and capital adequacy 16.09%. Credit to the bank’s people. They grew the book hard and kept it clean.

Look at where the money went. Advances grew 17.84% to ₹51.54 lakh crore. SME loans grew 21.97% and agriculture 22.64%. Corporate loans grew 16.12% and personal retail 14.54%. Deposits grew 12.27% to ₹62.78 lakh crore. CASA deposits, the cheapest money a bank has, grew 8.13%, and the CASA ratio is 38.32%. A domestic credit-deposit ratio of 73% leaves room. A gap of more than five points a year does not stay open for ever.

The market read it coolly. The Sensex rose 1,225 points to 76,917.85 on Tuesday, its fourth straight gain, on easing oil and talk of a capital gains tax change. SBI was among the Nifty’s top losers. The Nifty PSU Bank index fell 0.92%.

What a founder takes from it: SME credit is growing 22% at India’s largest lender, so a founder with clean books should ask now. Deposits are growing slower than loans, and that gap will shape what the money costs next.