State Bank of India shares rose 3.5% on Friday following a stronger-than-expected June quarter performance, with net profit surpassing analyst expectations and asset quality improving, signalling resilience amid market uncertainties.
State Bank of India shares rose 3.5% on Friday after the lender reported a stronger-than-expected June quarter performance, with standalone net profit climbing 10.23% year on year to ₹21,121 crore. The stock touched ₹1,123 before easing to ₹1,111 on the National Stock Exchange by 1:55pm, as investors responded to the bank’s latest earnings update.
According to the bank’s quarterly figures, net interest income increased 14.88% to ₹46,992 crore, while operating profit advanced 9.77% to ₹33,529 crore. Asset quality also improved, with the gross non-performing assets ratio falling to 1.47% and net NPAs holding steady at 0.38%, signalling continued stability in the lender’s loan book.
The results add to a generally firm run for the broader SBI group. SBI Life Insurance reported a 22% rise in quarterly profit, helped by stronger premium collections and higher new business value, while SBI Cards and Payment Services also posted profit growth in the same period, reflecting resilient consumer demand across parts of the group’s financial services franchise.
For SBI, the latest numbers point to steady earnings momentum at a time when large banks are being judged not only on profit growth but also on how well they protect margins and keep bad loans in check. The combination of higher income, improved operating profit and cleaner assets helped underpin the market’s positive reaction.
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