SBI Q4 Results 2026 Highlights: PAT jumps 5.6% YoY to ₹19,684 crore, ₹17.35 dividend announced; PSU stock crashes 7%

Following Q4 results, SBI stock ended the day at ₹1018.05, down 6.75% on the BSE. Meanwhile, on NSE, the stock closed at ₹1,018.40, down 6.74%.

State Bank of India reported a mixed consolidated performance in Q4 FY26, where healthy business growth, stronger balance sheet metrics, and continued improvement in asset quality were partly offset by margin compression and weaker operating profitability, resulting in earnings coming below market expectations.

— Seema Srivastava, Senior Research Analyst at SMC Global Securities

SBI retains 3% margin guidance for FY27: chairman at press conference.

SBI chairman says

• Expect banking system deposit growth at 11-12% in the next fiscal
• Credit growth of 13-15% expected in FY27

SBI chairman says the lender remains mindful of geopolitical risks. He highlighted strong credit demand for Q1.

According to a Reuters report, rising bond yields weighed on treasury income as higher yields reduce the value of banks' bond holdings. The Reserve Bank of India's curbs on forex arbitrage also weighed on trading income, though some of the restrictions were later eased.

• Gross NPA Ratio at 1.49% improved by 33 bps YoY.

• Net NPA Ratio at 0.39% improved by 8 bps YoY.

• Provision Coverage Ratio (PCR) stands at 74.36% while PCR (incl. AUCA) stands at 91.97%.

• Slippage Ratio for FY26 improved by 1 bp YoY and stands at 0.54%. Slippage Ratio for Q4FY26 stands at 0.47%.

• Credit Cost for Q4FY26 stands at 0.27%.

• Net Profit for FY26 stands at ₹80,032 crores, witnessing a growth of 12.88% YoY.
• Operating Profit for FY26 grew by 11.25% YoY to ₹1,23,015 crores.
• Bank’s ROA and ROE for FY26 stand at 1.12% and 18.57%, respectively.
• Net Interest Income (NII) for FY26 increased by 4.08% YoY.
• Whole Bank and Domestic NIM for the FY26 stand at 2.91% and 3.03%, respectively.
• Whole Bank NIM for Q4FY26 is at 2.81% and Domestic NIM is at 2.93%.

Shares of SBI declined almost 6% following the Q4 results announcement.

Loan loss provisions declined by 20.78% to ₹3,140 crore in Q4FY26 from ₹3,964 crore in the same period a year ago.

The net interest margins took a hit, down 21 bps to 2.93% from 3.14% in the year ago period. Even on a sequential basis, the figure was down from 3.11% posted as of Q3FY26.

SBI posted a moderation in its gross NPA ratio to 1.49% from 1.57% on a QoQ basis. However, net NPA ratio remained unchanged at 0.39%.

Pursuant to Regulation 30 (6) and Regulation 43 (1) of SEBI (LODR) Regulations, 2015, the Central Board of the Bank, has declared a Dividend of ₹ 17.35 per equity share (1735%) for the financial year ended 31.03.2026. The record date for determining the eligibility of members entitled to receive dividend on equity shares is 16.05.2026 and dividend payment date is 04.06.2026.

NII, or the net interest income, jump 4% YoY to ₹44,380 crore during the said period.

SBI reported a 5.6% YoY increase in its standalone net profit for the March quarter of FY26 at ₹19,683.75 crore. The figure stood at ₹18,642.59 crore in the same period last year.

Systematix expects SBI's Q4 NII could rise 9.3% to ₹46754.3 crore while its PAT may grow 4.9% to ₹19548.4 crore.

The QoQ advances growth to be in line with industry growth. The CoF is expected to remain stable and more than offset the decline the YoA resulting in marginal NIM improvement.

Slippages are expected to increase sequentially. Further, provisions are expected to be higher sequentially leading to higher credit costs, said Systematix Securities.

Kotak Equities expects SBI’s net profit in Q4FY26 to fall 12% YoY to ₹16,474 crore, while its NII to increase 6% YoY to ₹45,361.4 crore. NIM is expected to contract 9 bps YoY to 2.70%. Pre-Provision Operating Profit is seen declining 11% YoY to ₹27,743.5 crore, led by lower treasury income.

Strong growth, healthy margins, and contained costs to help deliver healthy profitability for SBI; slippages to remain range bound, said Emkay Global.

Brokerage firm Motilal Oswal expects SBI’s net interest margins (NIMs) to sustain at 3% amid yield repricing and offset by CoF reduction. Asset quality is estimated to witness improvement, and credit growth is seen at 3% QoQ, led by broad-based growth in SME, corporate, and Xpress credit. Credit cost is likely to remain steady and RoA to sustain at 1.1%.