According to the CNBC-TV18 poll, SBI’s Net Interest Income is likely to grow by 11.5% from last year to ₹45,800 crore. On a sequential basis, the figure is likely to grow by 3.2%
SBI’s profitability though is likely to remain flat at ₹30,000 crore, which, on a sequential basis, would be higher by 8.3%. A high base and lower treasury gains are likely to result in no significant change in SBI’s bottomline.
Pre-Provisioning Operating Profit for the quarter is also likely to remain flat at ₹19,145 crore, according to the CNBC-TV18 poll.
Indian lenders have see mixed margin trends during the quarter, while some of them have seen an expansion, some of them have seen a contraction as well compared to last year.
For SBI, its Net Interest Margins (NIMs) are likely to be stable or see a marginal drop, while some estimates also expect improvement driven by better deposit repricing and a better retail / MSME mix.
Loan growth for the lender is likely to be between 15% to 18%, or 1% to 2% higher sequentially. Asset quality is also likely to remain stable with no major deterioration expected in slippages or credit costs.
Although Credit Costs are expected to remain benign, seasonal agri-related stress on slippages will also be monitored.
Among other key triggers to watch for SBI, deposit growth and CASA trends will remain a key focus point amidst funding competition. What the street will also be watching for will be the FCNR deposit inflows and their impact on funding costs.
At the end of financial year 2026, SBI had guided for credit growth to be between 13% to 15%, while domestic NIMs are seen higher than 3% for the year, while credit costs could be around 50 basis points.
Shares of State Bank of India ended 2.9% higher on Thursday at ₹1,085.6. The stock is up 5% over the last one month, and up 10% so far this year.
