State Bank of India’s board will consider its September-quarter and half-year results Tuesday, as brokerage forecasts point to double-digit net interest income growth but sharply different profit outcomes, putting margins and deposit growth in focus.
SBI’s Oct. 26 filing schedules the board meeting in Mumbai for Nov. 3. It also says an analyst meeting will follow the results declaration.
The Economic Times reported that Motilal Oswal Financial Services (MOFSL) forecast net interest income (NII) of ₹47,850 crore, up 11.3% year over year. Dolat Capital estimated ₹48,020 crore, up 12%, while JM Financial projected ₹48,562.5 crore, up 13%. SBI reported NII of ₹42,984 crore in Q2FY26.
Profit after tax (PAT) estimates in The Economic Times report range from ₹20,378 crore at JM Financial, up 1.1%, to ₹25,250 crore at MOFSL, up 25.2%. Dolat Capital projected ₹23,760 crore, an 18% increase. SBI’s PAT in the year-earlier quarter was ₹20,160 crore.
TradeBrains separately attributed a different outlook to MOFSL: NII of ₹47,770 crore, up 11.1%, and PAT of ₹19,620 crore, down 2.7%. The figures differ from those the brokerage was reported as forecasting by The Economic Times.
The Economic Times also reported MOFSL’s forecast for a net interest margin (NIM) of 2.83%, three basis points below the June quarter. Dolat Capital projected a 2.81% margin, down five basis points. MOFSL estimated deposits of ₹62.7 lakh crore, up 4.4% quarter over quarter, and loans of ₹51.8 lakh crore, up 3.8%.
SBI’s Q1FY27 release reported NII of ₹46,992 crore and PAT of ₹21,121 crore for the quarter ended June 30. Advances grew 18.63% year over year, compared with 9.73% growth in deposits. The Economic Times connected deposit gathering with the bank’s ability to expand lending while managing its funding costs; SBI’s June-quarter loan and deposit trends provide recent context. The analyst meeting is scheduled for after the September-quarter results are declared.
