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West Asia conflict impact on MSME clusters
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State Bank of India — Q4 FY26
SBI reported a record net profit of ₹8,032 crore for Q4 FY26, up 12.88% YoY, driven by strong operating profitability and improved asset quality.
bullish
high
✓ Verified against BSE filing
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SBI reported a record net profit of ₹8,032 crore for Q4 FY26, up 12.88% YoY, driven by strong operating profitability and improved asset quality. Domestic NIM stood at 3.03%, meeting the bank's guidance of above 3%. Total business crossed ₹109 trillion, with credit growth of 16.87% YoY and deposit growth of 11.03%. Asset quality improved further with gross NPA at 1.49% and net NPA at 0.39%. The bank maintained ROA above 1% and ROE at 18.5%. Management guided for FY27 domestic NIM above 3%, credit growth of 13-15%, and credit cost of 50 bps. Key risks include potential impact from the West Asia conflict on MSME clusters and the transition to ECL provisioning from April 2027, though management expressed confidence in a smooth transition.
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Gross NPA
1.49%
-33bps YoY
Industry-leading asset quality with sustained two-decade low in NPAs.
Net NPA
0.39%
-8bps YoY
Further improvement reflecting disciplined credit practices.
CASA Ratio
39.46%
+33bps QoQ
Sustains low-cost funding advantage despite competitive environment.
Yono Users
10 crore
+4 crore in 3 months
New Yono app crossed 4 crore registrations within 3 months of launch.
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Guidance and risk preview
Management reiterated guidance for domestic net interest margin to remain above 3% for the full year FY27.
Analyst raised concern about stress in MSME space due to West Asia conflict; management acknowledged impact on clusters like Morbi but said overall...
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