State Bank of India (SBI) announced its Q3 FY26 results on 7 February 2026, delivering the strongest quarterly performance in its history. The SBI Q3 FY26 Results marked an all-time high profit, a sharp improvement in asset quality, and sustained credit growth across retail, SME, and corporate segments. The performance triggered a strong rally in SBI shares and reinforced the bank's position as the backbone of India's credit system.
The SBI Q3 Results are particularly relevant for long-term investors, banking analysts, and market participants tracking PSU bank recovery, credit cycle trends, and digital banking leadership. This SBI Q3 FY26 results analysis explains what drove the numbers, how sustainable the performance is, and what it means for investors evaluating SBI quarterly results in 2026.
Table of Contents:
- SBI Q3 FY26 Results: Key Financial Highlights
- SBI Q3 Results 2026: Profit Drivers Explained
- SBI Loan Book and Credit Growth Performance
- SBI Asset Quality and NPA Trends in Q3 FY26
- SBI Margins, Deposits and Liability Profile
- SBI Share Price Reaction and Brokerage Views
- SBI Digital Banking Leadership and YONO Growth
- What SBI Q3 FY26 Results Mean for Investors
- Conclusion
- FAQs on SBI Q3 Results 2026
The SBI Q3 FY26 Results reflect strong core income growth, disciplined risk management, and a sharp improvement in asset quality.
A key highlight of this quarter was the 24.5% year-on-year jump in net profit, underlining the strength of SBI's operating performance and balance sheet recovery. Operating leverage and lower credit costs played a critical role in boosting profitability.
SBI Quarterly Results Snapshot
| Metric |
Q3 FY26 |
Q3 FY25 |
| Net Profit |
₹21,028 crore |
₹16,891 crore |
| Net Interest Income (NII) |
₹45,190 crore |
₹41,446 crore |
| Operating Profit |
₹32,862 crore |
₹23,551 crore |
| Gross NPA Ratio |
1.57% |
2.07% |
| Net NPA Ratio |
0.39% |
0.53% |
| Capital Adequacy Ratio |
14.04% |
13.03% |
These SBI quarterly results show strong year-on-year improvement, led by a 24.5% rise in net profit, healthier asset quality, and a stronger capital base compared to the previous year.
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The 24.5% year-on-year growth in net profit in the SBI Q3 Results was primarily supported by robust core operating performance, led by steady growth in net interest income and a sharp improvement in asset quality.
However, the quarter also benefited from one-off gains, including proceeds from stake sales, which provided an additional boost to reported profitability. Importantly, the underlying earnings strength in the SBI Q3 FY26 Results remains evident, with lower NPAs and stable margins reinforcing the sustainability of core profits.
Key contributors to SBI Q3 FY26 Results:
- Healthy growth in interest income supported by steady loan expansion
- Operating leverage benefits, helping profits grow faster than income
- Sharp reduction in bad loans and provisioning requirements, aiding the 24.5% YoY profit jump
- Stable margins despite intense competition for deposits
For investors analysing SBI Q3 Results 2026 latest news, the combination of strong profit growth and improving balance sheet quality makes this quarter more significant than the headline numbers alone.
SBI's total advances grew by 15.14% year-on-year, crossing ₹46 lakh crore. The growth was broad-based and aligned with India's economic recovery.
Credit Growth Mix in SBI Q3 FY26 Results
| Segment |
YoY Growth |
| SME Loans |
21% |
| Retail Personal Loans |
15% |
| Corporate Credit |
13.4% |
| Agriculture Loans |
16.6% |
A key highlight of the SBI Q3 FY26 Results is the revival in corporate credit, supported by a project pipeline of nearly ₹8 lakh crore. Management also raised full-year credit growth guidance to 13 to 15%, signalling confidence in demand conditions.
To understand how SBI’s performance fits into broader banking sector trends, track movements in Nifty Bank for index-level insight on market sentiment.
Asset quality improvement remains the most important long-term takeaway from SBI quarterly results.
Highlights from SBI Q3 Results:
- Gross NPA at 1.57%, the lowest in over two decades
- Net NPA at 0.39%, reflecting strong recovery and resolution
- Credit cost is contained at just 0.29%
- Fresh slippages of ₹4,458 crore, manageable for SBI's balance sheet size
For investors who track PSU banks based on risk metrics, the SBI Q3 FY26 results analysis confirms that SBI has moved into a structurally low-stress phase.
Despite industry-wide pressure on deposits, SBI managed its margins effectively in Q3.
Key margin and liability indicators:
- Domestic Net Interest Margin at 3.12%
- Deposit growth of 9.02% year-on-year
- Total deposits crossed ₹57 lakh crore
- Credit-Deposit ratio at 72.98%, providing lending headroom
The SBI Q3 Results show that the bank has sufficient balance sheet flexibility to fund growth without aggressive deposit repricing.
Following the SBI Q3 FY26 Results, the stock rallied nearly 7% and touched a fresh record high of ₹1,137 on the NSE.
Brokerage commentary on SBI Q3 Results 2026:
- Nomura retained a Buy rating with a target of ₹1,235
- Jefferies and Motilal Oswal raised targets to ₹1,300, citing strong RoE and subsidiary value
- Nuvama upgraded the stock to Buy with a target of ₹1,250
Brokerages highlighted that SBI latest quarterly results strengthen the investment case based on earnings visibility and capital strength.
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To assess how the market has priced in SBI’s record quarterly performance, check the latest SBI share price along with updated charts and key valuation ratios.
A key differentiator in the SBI Q3 FY26 Results is digital adoption at scale.
Digital performance highlights:
- Over 68% of new savings accounts opened via YONO
- 98.6% of transactions executed through digital channels
- Improved cost efficiency due to reduced branch dependency
These metrics show SBI operating closer to a technology-led private bank while retaining PSU scale advantages.
The SBI Q3 FY26 Results represent a rare combination of growth, profitability, and balance sheet strength.
Investor takeaways from SBI Q3 Results:
- Strong earnings driven by core banking operations
- Sustainable asset quality improvement
- Comfortable capital adequacy supporting future growth
- Exposure to India's infrastructure, retail, and SME credit cycle
For long-term investors, SBI quarterly results reinforce the bank's position as a core portfolio holding in the Indian financial sector.
The SBI Q3 FY26 Results mark a clear inflection point in the bank's long-term journey. What stands out this quarter is not just record profitability, but the durability of earnings backed by low NPAs, strong capital buffers, and disciplined growth. As India enters a multi-year credit expansion phase, SBI is structurally well placed to capture scale-led growth while keeping risks under control.
For investors, SBI Q3 Results strengthen the case for steady, long-term value creation rather than short-term performance-driven gains.
1. When were SBI Q3 FY26 results announced?
SBI Q3 FY26 results were announced on 7 February 2026.
2. What was SBI's net profit in Q3 FY26?
SBI reported a standalone net profit of ₹21,028 crore in Q3 FY26, the highest quarterly profit in its history.
3. How did asset quality perform in SBI Q3 Results?
Gross NPA declined to 1.57% and Net NPA to 0.39%, marking multi-decade lows.
4. What drove the SBI Q3 Results 2026 profit growth?
Profit growth was driven by higher net interest income, lower credit costs, improved recoveries and stable margins.
5 How did the market react to SBI latest quarterly results?
SBI shares rallied nearly 7% percent after the results and touched a new lifetime high on the NSE.