Core Insights - State Bank of India (SBI) has revised its credit growth target for the year from 12-14% to 13-15% based on current quarter trends, indicating a secular growth pattern with expectations of continued double-digit corporate credit growth into Q4 [4][6] - SBI reported a standalone net profit of Rs 21,028 crore for Q3FY26, marking a 24.5% year-on-year increase and the highest quarterly profit in its history, attributed to multiple factors including fee income and broad-based credit growth [4][6] - Net interest income increased by 9% year-on-year, driven by loan growth and lower funding costs, with a one-off special dividend of Rs 2,200 crore from SBI Mutual Fund contributing to profitability [4][6] Credit Growth and Segments - Growth has been broad-based across all components of RAM (Retail, Agriculture, and SME), with corporate credit rebounding and growing by 13.4% [5][6] - The higher credit growth guidance is supported by robust performance across all segments, including new-economy sectors such as data center financing and a strong focus on renewable energy [5][6] - SBI's green portfolio has reached Rs 1 lakh crore, reflecting its commitment to sustainable financing [5][6]
As sentiment improves, SBI raises credit growth target
The Times Of India·2026-02-08 19:19