SBI Q1 Result Preview: What To Expect From The PSU Banking Giant On NIM, Profit, Credit Growth, NPAs, More

SBI Q1 Result Preview: Shares of State Bank of India ended higher on Thursday, a day ahead of the announcement of its first quarter result for the financial year 2026-27. The PSU lending giant is poised to deliver industry-leading credit growth driven by momentum across different segments and a healthy corporate loan pipeline, according to experts.

SBI share price closed 3.02% higher at Rs 1084 per share on BSE with a market capitalisation of Rs 10,01,383.55 crore on Thursday, August 6. The stock touched an intraday high mark of Rs 1,087.95 per share and an intraday low mark of Rs 1,053.00 per share during the trading session.

State Bank of India Q1 Result Preview

Steady growth in RAM segments, improving traction in Xpress Credit, healthy corporate loan pipeline led by infrastructure, renewables and data centres are likely to fuel State Bank of India's Q1 performance, according to experts.

State Bank of India's slippages are expected to be marginally increased sequentially and provisions to be higher sequentially, leading to higher credit costs. SBI is likely to report a double-digit growth in profit during the June quarter, as per brokerages.

SBI Q1 Result Review: NIMs to Remain Steady

SBI's Net Interest Margins (NIMs) are likely to remain at 2.84% after seeing sharp fall in the April quarter. The stable NIMs are likely to offset by improvement in corporate spreads, as per the Motilal Oswal report.

"Expect asset quality ratios to witness improvement. Credit growth at 3.1% QoQ, led by broad-based growth in SME, corp, agri and Xpress credit. Expect deposit growth to lag credit," stated the brokerage in its report.

"The QoQ advances growth to be in line with industry growth. The CoF and YoA are expected to remain stable and hence NIM are expected to be broadly stable," stated Systematix in its report.

Loan Growth

While Motilal Oswal sees SBI NIMs to remain stable in Q1FY27, Mirae Asset Sharekhan expects NIMs to improve as impact of repo rate cut was mostly absorbed in the previous quarter. The credit growth is likely to remain strong due to improvement in performance in the SME and corporate structure. "Sequentially deposits to grow higher than loans. PPoP to rise 13% QoQ aided by controlled opex (C/I ratio to decline). Overall profitability to remain broadly stable QoQ," state Mirae Asset in its report.

SBI Share Price Target

Motilal Oswal maintained a 'Buy' rating with a target price of Rs 1,300 per share.Systematix Institutional Equities also maintained a 'Buy' rating for the stock with a target price of Rs 1,250 per share. Mirae Asset Sharekhan maintained a target price of Rs 1,200.