State Bank of India (SBI), the country’s largest lender’s home loan
book, has crossed Rs 10 lakh crore in October 2026 much earlier than
its target of touching the milestone by the end of the fiscal.
Speaking to reporters at the Bank’s Q2 earnings press conference, CS
Setty chairman said that the Bank is seeing strong demand for home
loans during the ongoing festive season.
“We had set a target of Rs 10 trillion home loan book by FY 27 and in
October itself we have crossed the target. We are witnessing strong
demand for home loans during the ongoing festive season,” said Setty.
The home loan book grew by 12 per cent to Rs 9.85 lakh crore as on
September 30, 2026.
The Bank is targeting an overall loan growth of 14-15 per cent and
deposit growth of 10-11 per cent, supported by surplus liquidity of Rs
3.5-4 lakh crore.
The Bank on Tuesday reported a 14 per cent growth in standalone net
profit at ₹23,038 crore for the second quarter ended September 30,
2026. The bank had earned a profit of ₹20,160 crore in the
July-September period a year ago.
On a consolidated basis, SBI Group reported a 20 per cent rise at
₹25,361 crore for the second quarter as against ₹21,137 crore in
July-September FY26.
The Bank had booked a ₹7,288 crore pre-tax gain from selling a 6.3 per
cent stake in SBI Funds Management. The company also made ₹2,410
crore, net of taxes, from selling shares in the recently concluded
National Stock Exchange (NSE) IPO. However, the profit has been
credited to capital reserves and not to the profit and loss statement.
The Bank’s Net Interest Income (NII) for Q2FY27 increased by 14.69 per
cent year on year.
Whole Bank net interest margin (NIM) and Domestic NIM stood at 2.94
per cent and 3.11 per cent, respectively, in Q2FY27, improving by 8
bps and 11 bps, respectively, over Q1FY27 year on year.
Setty said that he expects the Bank to sustain a net interest margin
above 3 per cent going forward aided by the RBI’s repo rate hike of 25
basis points as loan repricing typically happens faster than deposit
repricing.
On a question on cybersecurity concerns following a recently reported
data-related incident involving SBI, Setty said that the bank is
strengthening its cybersecurity protocols through vulnerability
assessments, patch management and application programming interface
(API) management.
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