# SBIN (SBIN) — Stock analysis

> Faxioms all-in-one stock review. Canonical page: https://faxioms.com/stocks/sbin

## Current market snapshot

- Exchange: BSE
- Country: India
- Price: ₹957
- Change: +1.70%
- As of: 2026-10-13
- 1D return: +1.70%
- 5D return: -0.18%
- 1M return: -3.89%
- Latest complete quarter: fy27_q1

## Faxioms Analysis

_As of 2026-10-13_

### Technical Outlook

As of October 13, 2026, the stock exhibits a bearish trend on the daily and weekly timeframes, with price trading below key moving averages and the Supertrend indicator. This contrasts with a bullish trend on the monthly timeframe, indicating a mixed picture across different horizons. Daily trend strength is robust with an ADX of 42.25, while weekly trend conviction is weak (ADX 14.92) and monthly trend conviction is strong (ADX 71.94). The stock is positioned in the lower-middle part of its 20-day range (+30.8%) and its 252-day range (+26.4%), and near the lower end of its 50-day range (+10.4%). Recent anomalies include a daily event on September 29, 2026, with extreme volume participation (3.5x ratio) but no clear direction, and a moderate upward volume anomaly on October 13, 2026.

Participation and risk are characterized by a current drawdown of -22.1% and annualized volatility of +21.8%. The nearest support is at ₹955.37 (0.17% below current price), with further support at ₹946.63 (1.08% below). Resistance is observed at ₹969.73 (1.33% above current price) and ₹973.57 (1.73% above). A confirmed break below the ₹955.37 support level could signal further downside, while a sustained move above the ₹969.73 resistance may indicate a potential shift in short-term momentum.

- Mixed trend signals with bearish daily/weekly and bullish monthly timeframes.
- Daily trend strength is high (ADX 42.25), monthly trend strength is high (ADX 71.94), weekly trend strength is weak (ADX 14.92).
- Current drawdown stands at -22.1% with annualized volatility of +21.8%.
- Nearest support is ₹955.37 (-0.17%) and nearest resistance is ₹969.73 (+1.33%).
- A break below ₹955.37 would confirm downside, while a move above ₹969.73 could signal upward momentum.

- Bearish Engulfing Reversal
- Outside Bar
- Doji
- Harami

### News Context

SBI issued a warning to customers on October 12, 2026, regarding a 'Jumped Deposit' UPI scam. The bank explained that fraudsters trick individuals by claiming to have accidentally credited a small amount to their account to gain trust, subsequently leading to high-value payment approvals. Separately, on the same date, news reports indicated that Nifty Bank stocks, including SBI, were experiencing a decline. This broader market movement occurred amidst projections for healthy profit growth for Indian banks in Q2 FY27, driven by factors like lower credit costs and robust advance growth, though net interest margins (NIMs) were anticipated to face pressure from increased foreign currency deposits.

- October 12, 2026: SBI cautioned customers about the 'Jumped Deposit' UPI scam, detailing how fraudsters gain trust through small accidental deposits to facilitate high-value fraudulent transactions.
- October 12, 2026: Nifty Bank stocks, including SBI, experienced a decline.
- October 12, 2026: Projections for Indian banks in Q2 FY27 indicate healthy profit growth due to lower credit costs and strong advance growth.
- October 12, 2026: Net interest margins (NIMs) for Indian banks are expected to face pressure in Q2 FY27 due to significant mobilization of FCNR(B) deposits.

- [Khopde gets ‘job offer’ call, files police complaint](https://timesofindia.indiatimes.com/city/nagpur/khopde-gets-job-offer-call-files-police-complaint/articleshow/134901945.cms)
- [Indian banks set for healthy profit growth in Q2FY27, but NIMs face pressure](https://www.rediff.com/business/report/indian-banks-q2fy27-profit-growth-lower-credit-costs-drive-earnings-amidst-nim-pressure/20261012.htm)
- [SBI, IndusInd, PNB, ICICI, YES Bank shares: Why Nifty Bank stocks are falling today; targets](https://www.businesstoday.in/markets/stocks/story/sbi-indusind-icici-bank-pnb-yes-bank-shares-why-nifty-bank-stocks-are-falling-today-560975-2026-10-12)
- [Bank Can't Lodge FIR Against Home Loan Borrower Over Dues Where Builder Shelves Project & Sells Flat To Third Party: Karnataka High Court](https://www.livelaw.in/high-court/karnataka-high-court/karnataka-high-court-quashes-criminal-proceedings-against-borrower-554195)
- [SBI Warns Customers About 'Jumped Deposit' UPI Scam: How Fraudsters Trick You Into Approving High-Value Payments](https://www.news18.com/business/banking-finance/sbi-warns-customers-about-jumped-deposit-upi-scam-how-fraudsters-trick-you-into-approving-high-value-payments-10377843.html)

### What Changed

State Bank of India (SBIN) reported a half-yearly Statement of Debt Securities on October 12, 2026, for the period ending September 30, 2026. This filing disclosed outstanding bonds totaling ₹1,64,099.00 crore. The bank's share price saw an increase from ₹941.0 to ₹957.0 between the previous observation date and October 13, 2026. Separately, news reports from October 12, 2026, indicate that Indian banks, including SBIN, are projected to experience healthy profit growth in Q2FY27, driven by factors such as lower credit costs and robust advance growth. However, these projections also note potential pressure on net interest margins due to significant foreign currency non-resident (bank) deposit mobilization. In an unrelated development, a local news report mentioned an alleged SBI job scam call received by a Nagpur MLA, prompting a police complaint.

- On October 12, 2026, SBIN disclosed outstanding debt securities amounting to ₹1,64,099.00 crore as of September 30, 2026.
- SBIN's stock price increased from ₹941.0 to ₹957.0 as of October 13, 2026.
- News on October 12, 2026, projected healthy profit growth for Indian banks in Q2FY27, with potential pressure on net interest margins.
- A police complaint was filed on an unspecified date following an alleged SBI job scam call reported on October 12, 2026.

- [Khopde gets ‘job offer’ call, files police complaint](https://timesofindia.indiatimes.com/city/nagpur/khopde-gets-job-offer-call-files-police-complaint/articleshow/134901945.cms)
- [Indian banks set for healthy profit growth in Q2FY27, but NIMs face pressure](https://www.rediff.com/business/report/indian-banks-q2fy27-profit-growth-lower-credit-costs-drive-earnings-amidst-nim-pressure/20261012.htm)
- [Chapter VIII - Specifications related to ISIN for debt |SUBJECT: Chapter VIII - Specifications related to ISIN for debt](https://nsearchives.nseindia.com/content/debt/WDM/SBIN1_12102026161514_SE_Discl.pdf)

### Official Filings

State Bank of India (SBIN) has provided updates regarding its debt obligations and operational compliance. On October 12, 2026, the bank submitted its half-yearly Statement of Debt Securities for the period ending September 30, 2026. This filing reported a total issued and outstanding amount of ₹1,64,099.00 crore across various bonds, with maturities extending to August 21, 2035, and coupon rates between 6.80% and 8.34%. Additionally, on September 25, 2026, SBIN revised an interest payment date for its bonds (ISIN: INE062A08397) from September 28, 2026, to September 27, 2026. This change was due to a Ministry of Finance directive making Sunday, September 27, 2026, a working day for public sector banks, aligning with the bond's Working Day Convention. The bank also confirmed the payment of annual interest amounting to ₹302,80,00,000 on its Tier 2 bond series (ISIN: INE062A08322) on September 23, 2026. In terms of compliance, KFin Technologies Limited issued a certificate on October 5, 2026, confirming the processing of dematerialization requests for SBIN securities during the quarter ended September 30, 2026, as per SEBI regulations. SBIN also announced a trading window closure for designated persons from October 1, 2026, in anticipation of its financial results for the quarter and half-year ending September 30, 2026.

- On October 12, 2026, SBIN reported outstanding debt securities totaling ₹1,64,099.00 crore as of September 30, 2026.
- An interest payment date for SBI Bonds (ISIN: INE062A08397) was revised to September 27, 2026, from September 28, 2026, due to a directive making that Sunday a working day.
- SBIN paid ₹302,80,00,000 in annual interest on its Tier 2 bond series (ISIN: INE062A08322) on September 23, 2026.
- A certificate dated October 5, 2026, confirms KFin Technologies processed dematerialization requests for SBIN securities for the quarter ended September 30, 2026.
- The trading window for designated persons closed on October 1, 2026, in advance of the financial results for the quarter ending September 30, 2026.

- [Chapter VIII - Specifications related to ISIN for debt |SUBJECT: Chapter VIII - Specifications related to ISIN for debt](https://nsearchives.nseindia.com/content/debt/WDM/SBIN1_12102026161514_SE_Discl.pdf)
- [SBIN: State Bank of India has informed the Exchange about Newspaper Publication of Special window for re-lodgement of transfer and dematerialization of physical securities |SUBJECT: Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/SBIN_09102026154949_NewsPaper09102026.pdf)
- [State Bank of India has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 2018 |SUBJECT: Certificate under SEBI (Depositories and Participants) Regulations, 2018](https://nsearchives.nseindia.com/corporate/SBIN_08102026162654_BSE_NSE_74_5__08102026.pdf)
- [State Bank Of India has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015 |SUBJECT: Trading Window](https://nsearchives.nseindia.com/corporate/SBIN_27092026162021_TWC.pdf)
- [STATE BANK OF INDIA has informed the Exchange about Closure of Trading Window |SUBJECT: Trading Window-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/CLOSURE_TRADING_WINDOW_238_WebXMLFile_20260927_162355407.xml)
- [STATE BANK OF INDIA has informed the Exchange about Closure of Trading Window |SUBJECT: Trading Window-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/CLOSURE_TRADING_WINDOW_238_WebXMLFile_20260927_163010410.xml)
- [Confirmation of Redemption/Payment of Interest and Principal |SUBJECT: Confirmation of Redemption/Payment of Interest and Principal](https://nsearchives.nseindia.com/content/debt/WDM/SBIN1_27092026163001_BSE_NSE_INE062A08397_27092026_dsc.pdf)
- [Updates |SUBJECT: Updates](https://nsearchives.nseindia.com/content/debt/WDM/SBIN_25092026115108_SE_Dislcosure_2.pdf)
- [SBIN: State Bank of India has informed the Exchange about 27.09.2026 (Sunday) being a working day |SUBJECT: General Updates](https://nsearchives.nseindia.com/corporate/SBIN_25092026115411_SE_Dislcosure_2.pdf)
- [Confirmation of Redemption/Payment of Interest and Principal |SUBJECT: Confirmation of Redemption/Payment of Interest and Principal](https://nsearchives.nseindia.com/content/debt/WDM/SBIN_23092026123345_BSE_NSE_INE062A08322_23092026.pdf)

### Fundamentals

State Bank of India (SBIN) reported sequential growth in its top-line figures for the first quarter of fiscal year 2026-27 (Q1 FY27) compared to the fourth quarter of fiscal year 2025-26 (Q4 FY26). Total Income increased to ₹1,43,819.15 crore from ₹1,40,411.77 crore, driven by a rise in Interest Earned, which grew to ₹1,27,896.46 crore from ₹1,23,097.67 crore. However, this was partially offset by a decrease in Other Income, which fell to ₹15,922.69 crore from ₹17,314.10 crore in the prior quarter. Revenue on Investments also saw an increase, reaching ₹29,510.19 crore in Q1 FY27 from ₹28,579.05 crore in Q4 FY26. The bank's operating trajectory shows an expansion in its core lending activities, though non-interest income sources experienced a sequential decline.

- Total Income increased sequentially to ₹1,43,819.15 crore in Q1 FY27.
- Interest Earned rose to ₹1,27,896.46 crore in Q1 FY27, indicating growth in core banking operations.
- Other Income decreased sequentially to ₹15,922.69 crore in Q1 FY27.
- Revenue on Investments increased to ₹29,510.19 crore in Q1 FY27.

### Bull Case

State Bank of India (SBI) exhibits a bullish monthly trend, indicated by a strong ADX of 71.94 and a positive plus DI of 24.0 against a minus DI of 11.14. This suggests sustained upward momentum over the longer term. The stock has achieved a return of +8.4% over the past year and +20.7% since its inception, demonstrating historical growth. As of October 13, 2026, the stock is trading at ₹957.0, with key support levels identified at ₹955.37 and resistance at ₹969.73.

- Monthly trend shows bullish signals with ADX at 71.94.
- One-year return stands at +8.4%.
- Cumulative return since inception is +20.7%.
- Nearest support level is ₹955.37, with resistance at ₹969.73.

- [Khopde gets ‘job offer’ call, files police complaint](https://timesofindia.indiatimes.com/city/nagpur/khopde-gets-job-offer-call-files-police-complaint/articleshow/134901945.cms)
- [Indian banks set for healthy profit growth in Q2FY27, but NIMs face pressure](https://www.rediff.com/business/report/indian-banks-q2fy27-profit-growth-lower-credit-costs-drive-earnings-amidst-nim-pressure/20261012.htm)
- [SBI, IndusInd, PNB, ICICI, YES Bank shares: Why Nifty Bank stocks are falling today; targets](https://www.businesstoday.in/markets/stocks/story/sbi-indusind-icici-bank-pnb-yes-bank-shares-why-nifty-bank-stocks-are-falling-today-560975-2026-10-12)
- [Bank Can't Lodge FIR Against Home Loan Borrower Over Dues Where Builder Shelves Project & Sells Flat To Third Party: Karnataka High Court](https://www.livelaw.in/high-court/karnataka-high-court/karnataka-high-court-quashes-criminal-proceedings-against-borrower-554195)
- [SBI Warns Customers About 'Jumped Deposit' UPI Scam: How Fraudsters Trick You Into Approving High-Value Payments](https://www.news18.com/business/banking-finance/sbi-warns-customers-about-jumped-deposit-upi-scam-how-fraudsters-trick-you-into-approving-high-value-payments-10377843.html)
- [Chapter VIII - Specifications related to ISIN for debt |SUBJECT: Chapter VIII - Specifications related to ISIN for debt](https://nsearchives.nseindia.com/content/debt/WDM/SBIN1_12102026161514_SE_Discl.pdf)
- [SBIN: State Bank of India has informed the Exchange about Newspaper Publication of Special window for re-lodgement of transfer and dematerialization of physical securities |SUBJECT: Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/SBIN_09102026154949_NewsPaper09102026.pdf)
- [State Bank of India has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 2018 |SUBJECT: Certificate under SEBI (Depositories and Participants) Regulations, 2018](https://nsearchives.nseindia.com/corporate/SBIN_08102026162654_BSE_NSE_74_5__08102026.pdf)
- [State Bank Of India has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015 |SUBJECT: Trading Window](https://nsearchives.nseindia.com/corporate/SBIN_27092026162021_TWC.pdf)
- [STATE BANK OF INDIA has informed the Exchange about Closure of Trading Window |SUBJECT: Trading Window-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/CLOSURE_TRADING_WINDOW_238_WebXMLFile_20260927_162355407.xml)

### Bear Case

State Bank of India's (SBIN) daily technical indicators suggest a weakening trend, with a bearish supertrend direction and negative slopes for both the 20-day and 50-day moving averages. This is accompanied by a significant current drawdown of -22.1% and a maximum drawdown of -23.5%, indicating substantial price depreciation from recent peaks. The stock has also experienced negative returns across several short-to-medium term periods, including -3.9% in the last month and -7.7% over the past three months. Furthermore, the bank has issued warnings to customers regarding a 'Jumped Deposit UPI Scam,' highlighting potential operational risks and customer security concerns.

- Daily technical trend is currently bearish with negative moving average slopes.
- The stock has experienced a current drawdown of -22.1% and a maximum drawdown of -23.5%.
- Recent returns show a -3.9% decline over the last month and -7.7% over the last three months.
- SBIN has alerted customers to a 'Jumped Deposit UPI Scam,' indicating a risk of fraudulent activity.

- [Khopde gets ‘job offer’ call, files police complaint](https://timesofindia.indiatimes.com/city/nagpur/khopde-gets-job-offer-call-files-police-complaint/articleshow/134901945.cms)
- [Indian banks set for healthy profit growth in Q2FY27, but NIMs face pressure](https://www.rediff.com/business/report/indian-banks-q2fy27-profit-growth-lower-credit-costs-drive-earnings-amidst-nim-pressure/20261012.htm)
- [SBI, IndusInd, PNB, ICICI, YES Bank shares: Why Nifty Bank stocks are falling today; targets](https://www.businesstoday.in/markets/stocks/story/sbi-indusind-icici-bank-pnb-yes-bank-shares-why-nifty-bank-stocks-are-falling-today-560975-2026-10-12)
- [Bank Can't Lodge FIR Against Home Loan Borrower Over Dues Where Builder Shelves Project & Sells Flat To Third Party: Karnataka High Court](https://www.livelaw.in/high-court/karnataka-high-court/karnataka-high-court-quashes-criminal-proceedings-against-borrower-554195)
- [SBI Warns Customers About 'Jumped Deposit' UPI Scam: How Fraudsters Trick You Into Approving High-Value Payments](https://www.news18.com/business/banking-finance/sbi-warns-customers-about-jumped-deposit-upi-scam-how-fraudsters-trick-you-into-approving-high-value-payments-10377843.html)
- [Chapter VIII - Specifications related to ISIN for debt |SUBJECT: Chapter VIII - Specifications related to ISIN for debt](https://nsearchives.nseindia.com/content/debt/WDM/SBIN1_12102026161514_SE_Discl.pdf)
- [SBIN: State Bank of India has informed the Exchange about Newspaper Publication of Special window for re-lodgement of transfer and dematerialization of physical securities |SUBJECT: Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/SBIN_09102026154949_NewsPaper09102026.pdf)
- [State Bank of India has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 2018 |SUBJECT: Certificate under SEBI (Depositories and Participants) Regulations, 2018](https://nsearchives.nseindia.com/corporate/SBIN_08102026162654_BSE_NSE_74_5__08102026.pdf)
- [State Bank Of India has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015 |SUBJECT: Trading Window](https://nsearchives.nseindia.com/corporate/SBIN_27092026162021_TWC.pdf)
- [STATE BANK OF INDIA has informed the Exchange about Closure of Trading Window |SUBJECT: Trading Window-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/CLOSURE_TRADING_WINDOW_238_WebXMLFile_20260927_162355407.xml)

### FAQs

**What is the current technical trend for State Bank of India (SBIN) based on recent indicators?**

As of October 13, 2026, the daily and weekly technical trends for SBIN are indicated as bearish. The daily trend shows a negative Exponential Moving Average (EMA) 20 slope of -12.98 and a Simple Moving Average (SMA) 20 slope of -13.44. The weekly trend also shows a bearish SuperTrend direction with a negative EMA 20 slope of -25.66. However, the monthly trend is indicated as bullish, with a positive Directional Index (DI) of 24.0 compared to a DI of 11.14.

**What are the nearest support and resistance levels for SBIN as of October 13, 2026?**

As of October 13, 2026, the nearest support level for SBIN is ₹955.37, which is 0.17% below the current price. The nearest resistance level is ₹969.73, which is 1.33% above the current price.

**What recent official filings has State Bank of India made regarding its debt and securities?**

On October 12, 2026, State Bank of India submitted a half-yearly Statement of Debt Securities for the period ended September 30, 2026, reporting total outstanding bonds of ₹1,64,099.00 crore. Additionally, on October 9, 2026, the bank announced a special window from February 5, 2026, to February 4, 2027, for the re-lodgement and dematerialization of physical securities. A certificate dated October 8, 2026, from KFin Technologies Limited confirmed the processing of dematerialization requests for SBIN securities during the quarter ended September 30, 2026.

**What recent news has impacted State Bank of India?**

Recent news includes State Bank of India warning customers about a 'Jumped Deposit' UPI scam where fraudsters trick users into approving high-value payments. There was also a report of a Nagpur BJP MLA filing a police complaint regarding an alleged SBI job scam call. Additionally, a Karnataka High Court ruling stated that a bank cannot lodge an FIR against a home loan borrower for dues if the builder shelves the project and sells the flat to a third party.

- [Khopde gets ‘job offer’ call, files police complaint](https://timesofindia.indiatimes.com/city/nagpur/khopde-gets-job-offer-call-files-police-complaint/articleshow/134901945.cms)
- [Indian banks set for healthy profit growth in Q2FY27, but NIMs face pressure](https://www.rediff.com/business/report/indian-banks-q2fy27-profit-growth-lower-credit-costs-drive-earnings-amidst-nim-pressure/20261012.htm)
- [SBI, IndusInd, PNB, ICICI, YES Bank shares: Why Nifty Bank stocks are falling today; targets](https://www.businesstoday.in/markets/stocks/story/sbi-indusind-icici-bank-pnb-yes-bank-shares-why-nifty-bank-stocks-are-falling-today-560975-2026-10-12)
- [Bank Can't Lodge FIR Against Home Loan Borrower Over Dues Where Builder Shelves Project & Sells Flat To Third Party: Karnataka High Court](https://www.livelaw.in/high-court/karnataka-high-court/karnataka-high-court-quashes-criminal-proceedings-against-borrower-554195)
- [SBI Warns Customers About 'Jumped Deposit' UPI Scam: How Fraudsters Trick You Into Approving High-Value Payments](https://www.news18.com/business/banking-finance/sbi-warns-customers-about-jumped-deposit-upi-scam-how-fraudsters-trick-you-into-approving-high-value-payments-10377843.html)
- [Chapter VIII - Specifications related to ISIN for debt |SUBJECT: Chapter VIII - Specifications related to ISIN for debt](https://nsearchives.nseindia.com/content/debt/WDM/SBIN1_12102026161514_SE_Discl.pdf)
- [SBIN: State Bank of India has informed the Exchange about Newspaper Publication of Special window for re-lodgement of transfer and dematerialization of physical securities |SUBJECT: Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/SBIN_09102026154949_NewsPaper09102026.pdf)
- [State Bank of India has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 2018 |SUBJECT: Certificate under SEBI (Depositories and Participants) Regulations, 2018](https://nsearchives.nseindia.com/corporate/SBIN_08102026162654_BSE_NSE_74_5__08102026.pdf)
- [State Bank Of India has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015 |SUBJECT: Trading Window](https://nsearchives.nseindia.com/corporate/SBIN_27092026162021_TWC.pdf)
- [STATE BANK OF INDIA has informed the Exchange about Closure of Trading Window |SUBJECT: Trading Window-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/CLOSURE_TRADING_WINDOW_238_WebXMLFile_20260927_162355407.xml)
## Technical analytics

- As of: 2026-10-13
- Daily trend: Strong Downtrend
- Weekly trend: Weak Downtrend
- Pivot point: ₹946.63
- Risk regime: Price Risk Requires Attention

### Support levels
- 937.84375
- 857.25
- 755.5

### Resistance levels
- 973.5726562499999
- 1004.9875
- 1024.859375

### Return and range metrics

| Metric | Value |
| --- | --- |
| return_1 | +1.70% |
| return_10 | -0.52% |
| return_1m | -3.89% |
| return_1y | +8.39% |
| return_20 | -3.89% |
| return_3m | -7.71% |
| return_5 | -0.18% |
| return_6m | -10.02% |
| return_since_start | +20.65% |
| return_ytd | -2.82% |

### Risk and volatility metrics

| Metric | Value |
| --- | --- |
| state | elevated_risk |
| label | Price risk requires attention |
| summary | Recent drawdown or price variability is high enough to warrant closer monitoring. |
| maximum_drawdown | -23.49% |
| annualized_volatility | +21.85% |

## Quarterly financials

- Latest complete quarter: fy27_q1

# Net Profit Rises 10% as Net Interest Income Jumps 14.4%, NPA Ratio Falls

State Bank of India reported a net profit of ₹21,121 crore for the June quarter, a 10.2% increase from the same period a year ago. The improvement was driven by a 14.4% rise in net interest income, with operating expenses increasing at a slower pace. Asset quality continued to improve, with the gross non-performing asset ratio falling to 1.47%, while capital adequacy ratios strengthened.

## Net Interest Income Leads Revenue Growth

Interest earned, the bank’s primary revenue source, grew 8.4% year-on-year to ₹1,27,896 crore. Interest expended, the cost of deposits and borrowings, rose at a slower pace of 5.2% to ₹80,904 crore. The resulting net interest income — the difference between interest earned and interest expended — rose 14.4% to ₹46,992 crore, as interest income growth outpaced funding costs.

Other income, which includes fees, trading gains, and miscellaneous revenue, declined 8.2% year-on-year to ₹15,923 crore. Total income still increased 6.3% to ₹1,43,819 crore, supported by the strong net interest income growth.

## Operating Profit and Net Profit

Operating profit before provisions and contingencies rose 9.8% year-on-year to ₹33,529 crore. Total expenditure excluding provisions increased 5.2% to ₹1,10,290 crore. On a sequential basis, operating expenses declined 13.6% from the March quarter, driven by a sharp fall in other operating expenses.

Provisions other than tax and contingencies increased 6.0% year-on-year to ₹5,047 crore. This was a notable rise from the low level of ₹2,872 crore recorded in the March quarter. Tax expense climbed 11.1% to ₹7,361 crore. Net profit after tax grew 10.2% to ₹21,121 crore. Basic earnings per share rose to ₹22.88 from ₹21.47 a year earlier.

## Asset Quality

The gross non-performing asset (NPA) ratio improved to 1.47% in the June quarter, down from 1.83% a year earlier and 1.49% in the previous quarter. In absolute terms, gross NPAs stood at ₹74,272 crore, reflecting a year-on-year decline of 4.8% and a marginal sequential increase of 1.1%.

## Capital Adequacy

The Common Equity Tier 1 (CET1) ratio rose to 12.89% from 11.10% a year ago and 12.29% in the prior quarter. The Additional Tier 1 ratio declined to 1.01% from 1.35% over the year. The combined Tier 1 capital ratio (CET1 plus Additional Tier 1) stood at 13.90%, up from 12.45% a year earlier, reflecting a strengthened capital position.

## Management Commentary

State Bank of India reported a strong Q1FY27 with net profit rising 10.23% YoY to ₹21,121 crore, driven by 14.88% YoY growth in net interest income. Management highlighted that domestic NIM improved 7 bps QoQ to 3.00%, reflecting disciplined pricing and liability management. The bank's asset quality reached its best in over two decades, with gross NPA at 1.47% (down 36 bps YoY) and credit cost at 0.27%.

Loan growth remained robust at 18.63% YoY, with RAM (Retail, Agri, SME) advances growing 18.20% YoY and corporate advances up 18.05%. Management emphasized the bank's digital leadership, noting that 98.8% of transactions now occur through alternate channels, and YONO has 10.5 crore registered users. Capital adequacy improved to 15.67% CRAR, providing a strong buffer for future growth.

## Key Takeaway

The June quarter showed that core lending income grew strongly, with net interest income rising 14.4% as interest earned outpaced funding costs. Operating expenses were well contained, and asset quality continued to improve, with the gross NPA ratio falling to 1.47%. The bank’s capital ratios also moved higher. While absolute gross NPAs edged up slightly from the March quarter, the overall profitability trend remained positive.

### Ratios

## Shareholding pattern

- Quarter: FY2027-Q1
- As of: 2026-06-30
- Promoter holding: +55.47%
- FII holding: +10.81%
- DII holding: +26.52%
- Mutual fund holding: +13.61%
- Retail holding: +5.60%
- Promoter pledged: +0.00%

### Major reported shareholders

- PRESIDENT OF INDIA — +55.47%
- LIFE INSURANCE CORPORATION OF INDIA — +8.53%
- SBI MUTUAL FUND SCHEMES — +3.40%
- NPS TRUST SCHEMES — +2.22%
- HDFC MUTUAL FUND SCHEMES — +1.74%
- ICICI MUTUAL FUND SCHEMES — +1.38%
- NIPPON LIFE INDIA MUTUAL FUND SCHEMES — +1.32%
- KOTAK MUTUAL FUND SCHEMES — +1.04%

## Official filings

- 2026-10-12 — Generic Announcement: State Bank Of India — [Official attachment](https://nsearchives.nseindia.com/content/debt/WDM/SBIN1_12102026161514_SE_Discl.pdf)
- 2026-10-09 — Generic Announcement: State Bank of India — [Official attachment](https://nsearchives.nseindia.com/corporate/SBIN_09102026154949_NewsPaper09102026.pdf)
- 2026-10-08 — Generic Announcement: State Bank of India — [Official attachment](https://nsearchives.nseindia.com/corporate/SBIN_08102026162654_BSE_NSE_74_5__08102026.pdf)
- 2026-09-27 — Generic Announcement: State Bank of India — [Official attachment](https://nsearchives.nseindia.com/corporate/SBIN_27092026162021_TWC.pdf)
- 2026-09-27 — Generic Announcement: State Bank of India — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/CLOSURE_TRADING_WINDOW_238_WebXMLFile_20260927_162355407.xml)
- 2026-09-27 — Generic Announcement: State Bank of India — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/CLOSURE_TRADING_WINDOW_238_WebXMLFile_20260927_163010410.xml)
- 2026-09-27 — Generic Announcement: State Bank Of India — [Official attachment](https://nsearchives.nseindia.com/content/debt/WDM/SBIN1_27092026163001_BSE_NSE_INE062A08397_27092026_dsc.pdf)
- 2026-09-25 — Generic Announcement: State Bank Of India — [Official attachment](https://nsearchives.nseindia.com/content/debt/WDM/SBIN_25092026115108_SE_Dislcosure_2.pdf)
- 2026-09-25 — Generic Announcement: State Bank of India — [Official attachment](https://nsearchives.nseindia.com/corporate/SBIN_25092026115411_SE_Dislcosure_2.pdf)
- 2026-09-23 — Generic Announcement: State Bank Of India — [Official attachment](https://nsearchives.nseindia.com/content/debt/WDM/SBIN_23092026123345_BSE_NSE_INE062A08322_23092026.pdf)
- 2026-09-21 — Generic Announcement: State Bank Of India — [Official attachment](https://nsearchives.nseindia.com/content/debt/WDM/SBIN1_21092026132112_BSE_NSE_INE062A08454_21092026dsc.pdf)
- 2026-09-19 — Generic Announcement: State Bank of India — [Official attachment](https://nsearchives.nseindia.com/corporate/SBIN_19092026113048_Intimation19092026.pdf)
- 2026-09-19 — Generic Announcement: State Bank of India — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_238_WebXMLFile_20260919_113251684.xml)
- 2026-09-15 — Generic Announcement: State Bank of India — [Official attachment](https://nsearchives.nseindia.com/corporate/SBIN_15092026212157_BSE_NSE_Investor_Outcome15092026.pdf)
- 2026-09-14 — Generic Announcement: State Bank of India — [Official attachment](https://nsearchives.nseindia.com/corporate/SBIN_14092026190750_BSE_NSE_InvestorMeet_Intimation_15092026.pdf)
- 2026-09-09 — Generic Announcement: State Bank Of India — [Official attachment](https://nsearchives.nseindia.com/content/debt/WDM/SBIN1_09092026155722_BSE_NSE_INE062A08314_09092026dsc.pdf)
- 2026-09-08 — Generic Announcement: State Bank of India — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_238_WebXMLFile_20260908_181850374.xml)
- 2026-09-07 — Generic Announcement: State Bank of India — [Official attachment](https://nsearchives.nseindia.com/corporate/SBIN_07092026175144_BSE_NSE_Strike_07092026.pdf)
- 2026-08-31 — Generic Announcement: State Bank of India — [Official attachment](https://nsearchives.nseindia.com/corporate/SBIN_31082026175152_BSE_NSE_BKM_31082026.pdf)
- 2026-08-31 — Generic Announcement: State Bank of India — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/CIM_238_WebXMLFile_20260831_180451656.xml)
- 2026-08-28 — Generic Announcement: State Bank of India — [Official attachment](https://nsearchives.nseindia.com/corporate/SBIN_28082026134220_BSE_NSE_Investor_Outcome27082026.pdf)
- 2026-08-27 — Generic Announcement: State Bank Of India — [Official attachment](https://nsearchives.nseindia.com/content/debt/WDM/SBIN1_27082026191710_SERecordDate_27082026_dsc.pdf)
- 2026-08-27 — Generic Announcement: State Bank Of India — [Official attachment](https://nsearchives.nseindia.com/content/debt/WDM/SBIN1_27082026191710_SERecordDate_27082026_dsc.pdf)
- 2026-08-27 — Generic Announcement: State Bank Of India — [Official attachment](https://nsearchives.nseindia.com/content/debt/WDM/SBIN1_27082026191710_SERecordDate_27082026_dsc.pdf)
- 2026-08-27 — Generic Announcement: State Bank Of India — [Official attachment](https://nsearchives.nseindia.com/content/debt/WDM/SBIN1_27082026191710_SERecordDate_27082026_dsc.pdf)

## News and market events

- 2026-10-12 — Times of India: **Khopde gets ‘job offer’ call, files police complaint** — Nagpur BJP MLA Krishna Khopde reports alleged SBI job scam call to Lakadganj police; probe launched to trace caller and take action. — [Source](https://timesofindia.indiatimes.com/city/nagpur/khopde-gets-job-offer-call-files-police-complaint/articleshow/134901945.cms)
- 2026-10-12 — REDIFF.COM: **Indian banks set for healthy profit growth in Q2FY27, but NIMs face pressure** — Indian banks are projected to achieve healthy profit growth in the second quarter of financial year 2027 (Q2FY27), driven by lower credit costs, robust advance growth, and fee income. However, net interest margins (NIMs) are expected to face pressure due to significant mobilisation of foreign currency non-resident (bank) FCNR(B) deposits. — [Source](https://www.rediff.com/business/report/indian-banks-q2fy27-profit-growth-lower-credit-costs-drive-earnings-amidst-nim-pressure/20261012.htm)
- 2026-10-12 — BUSINESSTODAY: **SBI, IndusInd, PNB, ICICI, YES Bank shares: Why Nifty Bank stocks are falling today; targets** — [Source](https://www.businesstoday.in/markets/stocks/story/sbi-indusind-icici-bank-pnb-yes-bank-shares-why-nifty-bank-stocks-are-falling-today-560975-2026-10-12)
- 2026-10-12 — LIVELAW.IN: **Bank Can't Lodge FIR Against Home Loan Borrower Over Dues Where Builder Shelves Project & Sells Flat To Third Party: Karnataka High Court** — The Karnataka High Court has quashed criminal proceedings against a home loan borrower whose loan stood outstanding because the builder failed to complete the project and sold the flat to a third... — [Source](https://www.livelaw.in/high-court/karnataka-high-court/karnataka-high-court-quashes-criminal-proceedings-against-borrower-554195)
- 2026-10-12 — News18: **SBI Warns Customers About 'Jumped Deposit' UPI Scam: How Fraudsters Trick You Into Approving High-Value Payments** — 'In a Jumped Deposit Scam, scammers claim to have "accidentally" credited a small amount to your account to win your trust,' says SBI in a post on X. — [Source](https://www.news18.com/business/banking-finance/sbi-warns-customers-about-jumped-deposit-upi-scam-how-fraudsters-trick-you-into-approving-high-value-payments-10377843.html)
- 2026-10-12 — MONEYCONTROL: **Bank Nifty slides 200 points as RBI liquidity measures, rising bond yields weigh on bank stocks** — Bank Nifty, Bank Nifty today, Bank Nifty fall, banking stocks, SBI share price, ICICI Bank share price, Axis Bank share price, RBI liquidity measures, RBI bond sale, CRR maintenance requirement, government bond yields, India 10-year bond yield, bond yields three-year high, banking system liquidity, RBI forex measures, rupee appreciation, stock market today — [Source](https://www.moneycontrol.com/news/business/markets/bank-nifty-slides-200-points-as-rbi-liquidity-measures-rising-bond-yields-weigh-on-bank-stocks-14049860.html)
- 2026-10-12 — CNBC-TV18: **Explained - Here is why the Nifty Bank is witnessing pressure on Monday** — The Nifty Bank is now down 250 points, with shares of PNB, Yes Bank and SBI trading with losses of over 1% each, while Axis Bank and Canara Bank's shares are also down up to 1%. — [Source](https://www.cnbctv18.com/market/nifty-bank-index-fall-today-key-reasons-explained-rbi-crr-daily-limit-move-yes-axis-sbi-kotak-share-price-20009649.htm)
- 2026-10-11 — Mint: **Bank FD rates in October 2026: How pre- and post-tax fixed deposit returns differ across HDFC, ICICI, SBI and PNB | Mint** — Fixed deposits offer predictable returns, but taxes can reduce the interest you retain. A latest report compares FD rates across large banks and tenures. Here’s how to understand pre-tax and post-tax returns, FD taxation rules, and what a ₹5 lakh deposit could earn. — [Source](https://www.livemint.com/money/personal-finance/bank-fd-rates-in-october-2026-how-pre-and-post-tax-fixed-deposit-returns-differ-across-hdfc-icici-sbi-and-pnb-11791729146868.html)
- 2026-10-11 — The Hindu: **Banks set for mixed Q2 show as NIMs weaken despite profit growth** — India’s banks eye mixed Q2 profits with 7-17% PAT growth as NIMs face pressure from FCNR(B) deposits across lenders. — [Source](https://www.thehindubusinessline.com/money-and-banking/banks-set-for-mixed-q2-show-as-nims-weaken-despite-profit-growth/article71572229.ece)
- 2026-10-11 — Mint: **Aditya Birla unit seeks ₹14,500 crore in loans, says report; here's why it needs the funds | Company Business News** — Aditya Birla Renewables is seeking $1.5 billion in rupee loans from Indian banks including SBI and HDFC, as per a news report. Here's why it needs the funds. — [Source](https://www.livemint.com/companies/news/aditya-birla-unit-seeks-14-500-crore-in-loans-says-report-heres-why-it-needs-the-funds-11791702020254.html)
- 2026-10-10 — The Hindu: **HDFC Flexi Cap Fund: Can Its Winning Formula Survive The Scale Test?** — HDFC Flexi Cap Fund blends large-cap stability with selective mid-cap rotation, delivering strong risk-adjusted returns amid rising scale. — [Source](https://www.thehindubusinessline.com/portfolio/mutual-funds/hdfc-flexi-cap-fund-review-performance-scale-test/article71555080.ece)
- 2026-10-10 — Mint: **Private vs PSU banks face off: SBI, PNB, Union vs HDFC, ICICI, Axis, AU - Which pack could outperform in Q2 2026 results** — Analysts expect strong bank earnings, supported by business growth, FCNR (B) inflows and possible stake-sale gains. PSU banks may outpace private banks in profit growth, while private lenders are forecast to post stronger net interest income growth. Check details — [Source](https://www.livemint.com/market/stock-market-news/private-vs-psu-banks-face-off-sbi-pnb-union-bank-vs-hdfc-icici-axis-au-which-pack-could-outperform-in-q2-2026-re-11791631645257.html)
- 2026-10-10 — Mint: **SBI, HCL Tech, Eicher Motors: Top 3 stock picks by Sumeet Bagadia | Target, stop-loss, Nifty, Bank Nifty outlook** — Stock market prediction: Sumeet Bagadia believes the Nifty 50 chart pattern is signalling improving short-term sentiment, although the broader structure remains weak below key moving averages — [Source](https://www.livemint.com/market/stock-market-news/sbi-hcl-tech-eicher-motors-top-3-stock-picks-by-sumeet-bagadia-target-stop-loss-nifty-bank-nifty-outlook-11791630697637.html)
- 2026-10-10 — Mint: **Home loan rates October 2026: Compare rates starting from 7% across 12 public sector banks | Mint** — Home loan rates start at 7% at select public sector banks in October 2026. Compare rates across 12 public sector banks, including SBI, Bank of Baroda and PNB, and understand the factors that can affect your final borrowing cost before applying. — [Source](https://www.livemint.com/money/personal-finance/home-loan-rates-october-2026-compare-rates-starting-from-7-across-12-public-sector-banks-11791486253416.html)
- 2026-10-10 — NEWS.WEBINDIA123.COM: **Canara HSBC Life Insurance Reports Healthy H1 FY27 Results** — PRNewswire — [Source](https://news.webindia123.com/news/Articles/Business/20261010/4509183.html)
- 2026-10-09 — FREEPRESSJOURNAL.IN: **Mumbai: NCLT Rules SBI Entitled To Minimum Security-Linked Liquidation Value In AA Estates Insolvency Case** — The NCLT Mumbai Bench ruled that SBI, a dissenting secured creditor in AA Estates’ insolvency case, is entitled to at least the liquidation value attributable to its security interest, without a cap linked to the resolution plan’s total value. The tribunal directed the resolution professional to calculate SBI’s entitlement and confirm whether payment will be made in cash. — [Source](https://www.freepressjournal.in/mumbai/mumbai-nclt-rules-sbi-entitled-to-minimum-security-linked-liquidation-value-in-aa-estates-insolvency-case)
- 2026-10-09 — Economic Times: **Deposit rate hikes unlikely for 3 months; RBI action to help NIMs: SBI chairman C S Setty** — State Bank of India Chairman C S Setty stated there will be no deposit rate hikes for the next three months. He cited sufficient liquidity in the system as a key reason for this prediction. Setty mentioned that credit growth is expected to sustain at 14 to 15 percent over time. He emphasized that banks need to ensure positive real interest rates for depositors amid rising inflation. — [Source](https://economictimes.indiatimes.com/industry/banking/finance/banking/deposit-rate-hikes-unlikely-for-3-months-rbi-action-to-help-nims-sbi-chairman-c-s-setty/articleshow/134786143.cms)
- 2026-10-09 — Economic Times: **RBI rate hike, FCNR(B) inflows set to boost bank margins and profitability** — In light of anticipated increases in benchmark interest rates by the Reserve Bank of India, Mumbai's banking sector appears poised for advancement. An influx of foreign currency non-resident bank deposits promises enhanced liquidity, potentially boosting profits. Private banks foresee robust growth in earnings as margins widen and operational costs decrease. — [Source](https://economictimes.indiatimes.com/industry/banking/finance/banking/rbi-rate-hike-fcnrb-inflows-set-to-boost-bank-margins-and-profitability/articleshow/134611130.cms)
- 2026-10-09 — The Hindu: **State use of intrusive surveillance tools must be lawful, says Keralam Home Minister Chennithala** — Kerala Home Minister urges lawful, proportionate use of intrusive tools with oversight at c0c0n-2026, announcing Cyberdome revitalization and stronger cybersecurity emphasis. — [Source](https://www.thehindu.com/news/national/kerala/state-use-of-intrusive-surveillance-tools-must-be-lawful-says-home-minister-chennithala/article71563708.ece)
- 2026-10-08 — Economic Times: **Deposit rate hikes unlikely for 3 months; RBI action to help NIMs: SBI chairman C S Setty** — State Bank of India Chairman C S Setty stated there will be no deposit rate hikes for the next three months. He cited sufficient liquidity in the system as a key reason for this prediction. Setty mentioned that credit growth is expected to sustain at 14 to 15 percent over time. He emphasized that banks need to ensure positive real interest rates for depositors amid rising inflation. — [Source](https://cfo.economictimes.indiatimes.com/news/policy/deposit-rate-hikes-unlikely-for-3-months-rbi-action-to-help-nims-sbi-chairman-c-s-setty/134788401)
- 2026-10-08 — BUSINESSTODAY: **No deposit rate hikes for 2-3 months: SBI Chairman C.S. Setty explains why** — [Source](https://www.businesstoday.in/latest/economy/story/no-deposit-rate-hikes-for-2-3-months-sbi-chairman-cs-setty-explains-why-560451-2026-10-08)
- 2026-10-08 — MONEYCONTROL: **Deposit rate hikes unlikely for 3 months; RBI action to help net interest margins: SBI chairman C S Setty** — SBI Chairman C S Setty, SBI deposit rates, deposit rate hike, State Bank of India, SBI NIM, RBI rate hike, bank deposit rates India, SBI credit growth, FCNR(B) deposits, banking liquidity, Indian Banks Association, SBI loan growth, RBI repo rate, — [Source](https://www.moneycontrol.com/news/business/banks/deposit-rate-hikes-unlikely-for-3-months-rbi-action-to-help-net-interest-margins-sbi-chairman-c-s-setty-14047720.html)
- 2026-10-08 — Times of India: **68-year-old used only cheques, never activated ATM, yet Rs 1.59 lakh was withdrawn through AePS without his knowledge; consumer court tells SBI to refund with 9% interest** — RAJKOT: The District Consumer Disputes Redressal Commission, Rajkot, has ordered the State Bank of India (SBI) to refund Rs 1,59,999 to a 68-year-old — [Source](https://timesofindia.indiatimes.com/city/rajkot/68-year-old-used-only-cheques-never-activated-atm-yet-rs-1-59-lakh-was-withdrawn-through-aeps-without-his-knowledge-consumer-court-tells-sbi-to-refund-with-9-interest/articleshow/134779154.cms)
- 2026-10-08 — The Hindu: **SBI software denies Schedule Tribe option to Christians: Arunachal forum** — Arunachal Christians allege SBI software wrongly assigns ST status to Christians, urging fixes amid potential discrimination and regulatory questions. — [Source](https://www.thehindu.com/news/national/arunachal-pradesh/sbi-software-denies-schedule-tribe-option-to-christians-arunachal-forum/article71556178.ece)
- 2026-10-07 — Times of India: **SBI told to refund ₹1.6L deducted without account-holder’s knowledge** — Rajkot consumer commission orders SBI to refund ₹1.59 lakh with 9% interest to a senior citizen after unauthorized AePS withdrawals; ₹10,000 litigation costs. — [Source](https://timesofindia.indiatimes.com/city/rajkot/sbi-told-to-refund-1-6l-deducted-without-account-holders-knowledge/articleshow/134773324.cms)

## Business profile

**Strategic vision:** Public sector bank providing retail, corporate, and digital financial services.

### Business segments
- **Retail and Digital Banking:** Manages personal savings, housing loans, agricultural micro-credit, credit cards, and consumer digital solutions through YONO.
- **Corporate and Commercial Banking:** Provides project finance, working capital lending, trade advisory, syndicated loans, and merchant banking services to large enterprises.
- **Group Subsidiaries:** Operates through specialized subsidiaries for insurance, asset management, and credit cards.

### Competitive strengths
- Extensive branch network across rural, semi-urban, and urban areas.
- Consolidated digital platform (YONO) for customer acquisition and service delivery.
- Diversified financial services offerings through group subsidiaries.

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## Freshness and sources

- Data as of: 2026-10-13
- Source: Faxioms public stock analysis API

Canonical: https://faxioms.com/stocks/sbin
Markdown representation: https://faxioms.com/stocks/sbin?render=md