Tag: SBI

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SBI rises above TCS to claim fourth spot in India

The State Bank of India (SBI) has overtaken Tata Consultancy Services (TCS) to become the fourth-largest listed company in India. This marks a rare moment when a public sector bank has climbed ahead of a major IT firm in market value.

SBI’s leap comes on the back of a record-breaking quarterly profit of ₹21,028 crore, a rise of nearly 25% compared to the same period last year. Strong growth in loans, higher interest and fee income, and better asset quality have helped the bank shine, even as other sectors faced pressure.

Investors responded enthusiastically. SBI’s shares surged over 3% to a 52-week high, while TCS saw a modest dip amid broader IT sector weakness. The rise in SBI’s market value to around ₹10.9 lakh crore nudged TCS, at ₹10.5 lakh crore, down a notch in the rankings.

While Reliance Industries, HDFC Bank, and Bharti Airtel continue to hold the top three spots, SBI’s climb reflects renewed confidence in the banking sector, particularly in India’s public banks. Analysts say the move signals that investors are paying closer attention to domestic financial growth, even in a market often dominated by technology companies.

Also Read: Global tech leaders gather for India AI Summit

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Corporate

SBI Q3 profit hits record, shares rise 7%

Shares of State Bank of India (SBI) surged nearly 7% on Monday, hitting a record high, after the country’s largest public sector lender posted its highest-ever quarterly profit for Q3 of FY26.

SBI reported a net profit of ₹21,277 crore for the October–December period, up 24.5% year-on-year from ₹17,073 crore in the same quarter last year. Analysts attributed the growth to strong net interest income, improved asset quality, and disciplined risk management.

The bank’s net interest income (NII), which reflects core lending performance, rose by 9% to ₹45,323 crore. Non-interest income, which includes fees and trading gains, also contributed positively, amounting to ₹12,000 crore, marking a healthy year-on-year increase.

SBI’s asset quality improved significantly, with gross non-performing assets (GNPA) declining to 3.12% from 3.35% in the previous quarter. Provisions for bad loans also decreased, allowing the bank to post stronger profitability.

On the loan growth front, SBI reported a 13% increase in advances, with broad-based growth across corporate, retail, and small-business segments. The bank’s management raised its loan growth guidance for FY26 to 13–15%, signaling confidence in sustained credit demand.

The strong results led brokerages including Jefferies, Morgan Stanley, and BofA Securities to upgrade SBI’s stock. Price targets were raised, with some suggesting a potential upside of up to 14% from current levels. Most analysts maintained a “Buy” or “Outperform” rating, citing strong earnings momentum and improved fundamentals.

Investors responded positively to the earnings announcement, driving the stock to its all-time high of ₹1,145 per share during the trading session.

Also Read: FPIs return, pump ₹8,100 cr into Indian stocks

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Corporate

SBI revises ATM charges for savings, salary accounts

State Bank of India (SBI) has revised its ATM charges, impacting savings and salary account holders. The new fee structure, effective from December 1, 2025, primarily affects withdrawals and transactions at non‑SBI ATMs. The revision comes after an increase in interbank charges, the fees banks pay each other for ATM usage.

For regular savings account holders, the first five financial and non-financial transactions at non‑SBI ATMs remain free. Beyond this, cash withdrawals will attract ₹23 plus GST, up from ₹21, while non-financial transactions, such as balance inquiries or mini statements, will cost ₹11 plus GST, up from ₹10.

Salary account holders, who previously enjoyed unlimited free transactions, will now get 10 free transactions per month at all ATMs. Post-limit transactions will be charged the same rates as above.

Basic Savings Bank Deposit (BSBD) account holders will see no changes in ATM charges. Similarly, SBI debit cardholders using SBI ATMs and cardless cash withdrawals will continue to enjoy free and unlimited transactions.

SBI has advised customers to monitor their ATM usage carefully to avoid unexpected charges. The fee revision reflects rising costs in ATM operations and interbank transactions, aiming to balance service sustainability while encouraging responsible usage.

Also Read: FPIs sell ₹3,963 cr in Indian stocks

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Corporate

SBI bets big on new YONO app

State Bank of India (SBI) is stepping up its digital push with a clear goal: to double the number of users on its YONO platform after rolling out a new and improved version of the app. From the current base of around 9.6 crore users, the country’s largest bank wants YONO to reach 20 crore customers in the coming years.

The new version of YONO has been designed to make everyday banking simpler and more intuitive. According to SBI Chairman C.S. Setty, the upgraded app brings together services across mobile phones, the web, and physical branches, offering customers a more seamless and consistent experience. Whether it is checking balances, applying for loans, or making payments, the bank wants customers to feel that digital banking is easy, reliable, and time-saving.

To ensure that customers are comfortable with the transition, SBI is not relying on technology alone. The bank plans to deploy nearly 10,000 staff members across its branches to help customers download the app, register, and learn how to use its features. This hands-on support is especially aimed at first-time digital users and customers who may be hesitant to move away from branch-based banking.

SBI believes that increasing digital transactions through YONO will also help reduce operating costs. Transactions carried out on mobile phones or online platforms are far cheaper than those handled at branches. By encouraging customers to shift routine activities online, the bank expects to improve efficiency while freeing up branch staff to focus on more complex customer needs.

The new YONO app also offers personalised insights, quicker approvals for loan limit enhancements, and the ability to handle a high volume of digital activity smoothly. These features are part of SBI’s broader strategy to strengthen its digital ecosystem and stay competitive in a fast-evolving banking landscape.

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