Business news · Corporate · 08 May 2026
State Bank of India reported January-March net profit of Rs 19,683.75 crore, up 5.5% year on year, but net interest income grew only 4.1% to Rs 44,380 crore against analyst expectations of 6-10%. Domestic net interest margin narrowed to 2.93% from 3.11% in the December quarter, operating profit fell 15.7% sequentially, and fresh slippages rose about 24% to Rs 5,521 crore, even as the gross NPA ratio improved to 1.49%. The shares fell as much as 7.3% to Rs 1,011.3 on the BSE.
SBI is the country's largest lender and a bellwether for state-run banks, so a margin squeeze after the 2025 rate cuts points to pressure on interest income across PSU banks, whose loans reprice faster than their deposits. A sequential jump in slippages also raises questions about credit costs at peers such as Bank of Baroda, Canara Bank and Punjab National Bank. The miss mattered for benchmark indices because SBI carries a large weight.
Reported by Business Standard — “SBI shares tumble 7% after Q4FY26 results miss Street estimates” ↗ on 08 May 2026.
NSE stocks, from the last close on or before 08 May 2026 to the close on 15 Oct 2026.
| Sector | Stocks | Median move | Up | vs all stocks |
|---|---|---|---|---|
| Financial Services | 125 | -5.3% | 42 of 125 | +0.1 pts |
| All tracked stocks | 799 | -5.4% | 310 of 799 | — |
| Company | Then | Now | Move |
|---|---|---|---|
| State Bank of India SBIN | ₹1,019.3 | ₹960 | -5.8% |
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