business π° SBI Q1 profits jump, business growth strong
State Bank of India reported a 10.23% year-on-year rise in its standalone net profit for the June quarter (Q1FY27). This financial performance was reported by the bank on Friday, 7 August, in the June quarter. Net profit reached βΉ21,121.22 crore, while interest income grew to βΉ46,992 crore in the review period. The bank saw gross advances increase by 18.6% and total business crossed the βΉ110 lakh crore milestone. Asset quality also improved with declining GNPA and NPA ratios as the bank moves forward. π