State Bank of India (SBI) reported a net profit of ₹19,160 crore for the first quarter of fiscal year 2026, marking a 12.48% year-over-year increase and a 2.78% rise from the previous quarter. This performance was driven by robust treasury gains and strong credit growth exceeding the industry average. SBI's operating profit reached ₹30,544 crore, up 15.49% year-over-year, while return on assets (ROA) stood at 1.14% and return on equity (ROE) at 19.70%. Despite a slight 0.13% decline in net interest income (NII) year-over-year and a decrease in net interest margin (NIM) to 3.02% from 3.35% the previous year, loan growth was solid at 11.6%, and gross non-performing assets (NPA) were maintained at 1.83%. Brokerages have maintained a 'Buy' rating on SBI shares with target prices ranging from ₹925 to ₹955. The positive earnings contributed to gains in Indian equity benchmarks, with the Sensex rising 520 points to 80,378 and the Nifty50 increasing by 167 points to 24,530, supported by strong performances in PSU banks and realty shares. Other companies such as Jubilant Agri and Garden Reach also posted notable earnings increases, while shares of Tata Motors and Biocon faced declines.