Mumbai, Aug. 7 -- State Bank of India (SBI) reported a 10.23 per cent year-on-year rise in net profit to Rs 21,121 crore for the first quarter of FY2026-27, supported by strong growth in net interest income and advances, along with improvement in asset quality.

The country's largest lender had reported a net profit of Rs 19,160 crore in the corresponding quarter of the previous financial year. Sequentially, profit rose 7.30 per cent from Rs 19,684 crore in the March quarter.

Net Interest Income (NII), the difference between interest earned and interest paid by a bank, increased 14.88 per cent year-on-year to Rs 46,992 crore during the quarter from Rs 40,907 crore a year earlier. Operating profit grew 9.77 per cent to Rs 33,529 crore.

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