SBI Q2 results 2026 today: State Bank of India (SBI) share price will remain in focus today as the company is all set to announce its July-September quarterly results for the financial year 2026-27 on Tuesday, 3 November.
India’s largest lender is expected to report double-digit growth in net interest income (NII), supported by strong loan growth. However, its margins are likely to remain stable in the September quarter (Q2), aided by lower FCNR(B) fund mobilisation.
Kotak Institutional Equities expects the bank’s operating profit to grow about 5% year-on-year (YoY), given that the base quarter included gains from the sale of its stake in Yes Bank. Net interest income (NII) is projected to rise 13% YoY, driven by 18% loan growth. Net interest margins (NIMs) are expected to remain flat sequentially, with negligible impact from the FCNR deposits mobilised during the quarter. The brokerage also anticipates slower growth in fee income while factoring in gains from the sale of the bank’s stake in NSE.
On the asset quality front, slippages are expected to stand at around 1.1% of loans, indicating a gradual normalisation. However, Kotak Institutional Equities does not anticipate any fresh asset quality concerns across the bank’s portfolios. Recoveries and upgrades are also likely to be lower. The key monitorable for the quarter will be the trajectory of NIMs.
Meanwhile, brokerage firm Axis Direct expects advances growth to remain strong at 17-18% year-on-year, while deposit growth is likely to be supported by FCNR(B) mobilisation. Margins are expected to remain stable quarter-on-quarter.