SBI Boosts FY26 Credit Growth Outlook to 13-15% After 25% Q3 Profit Surge

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SBI Boosts FY26 Credit Growth Forecast to 13-15% After Q3 Profit Soars 25%

Brokerage firm Macquarie has upgraded State Bank of India (SBI) to 'Outperform' from 'Underperform'. The brokerage has raised its price target on SBI to ₹1,150, implying an upside of 15% from Friday's closing price.

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CNBC TV18•07-02-2026, 20:50

SBI Boosts FY26 Credit Growth Forecast to 13-15% After Q3 Profit Soars 25%

•State Bank of India (SBI) raised its FY26 credit growth guidance to 13-15% from 12-14% following a strong Q3 performance.
•Net profit jumped 24.5% year-on-year to ₹21,028 crore, exceeding market expectations, driven by broad-based loan growth.
•Corporate credit growth rebounded to 13%, while all RAM segments showed double-digit growth, reflecting holistic business expansion.
•Asset quality improved significantly, with gross NPAs falling to 1.57% and net NPAs to 0.39%; slippages remained contained.
•SBI targets 9-10% deposit growth, focusing on retail term deposits and CASA, and expects sustained growth momentum.

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