State Bank of India (SBI) reported a net profit of ₹19,160 crore for the first quarter of fiscal year 2026 (Q1FY26), marking a 12.48% year-over-year increase and a 2.78% rise from the previous quarter. The profit growth was primarily driven by robust treasury gains and strong credit growth exceeding the industry average. Operating profit rose 15.49% year-over-year to ₹30,544 crore. SBI's return on assets (ROA) stood at 1.14%, and return on equity (ROE) was 19.70%. Despite a slight decline in net interest income (NII) by 0.13% year-over-year and a decrease in net interest margin (NIM) to 3.02% from 3.35% last year, loan growth was recorded at 11.6%, with gross non-performing assets (NPA) at 1.83%. Analysts have maintained a 'Buy' rating on SBI shares with price targets ranging between ₹925 and ₹955. SBI's strong quarterly performance comes amid a broader trend of robust Q1 earnings among Indian firms, including notable gains by Jubilant Agri and Garden Reach.