SBI, SBI Life and SBI Cards report second quarter results for FY27
SBI Cards beat profit estimates while SBI Life missed expectations, according to experts reported by Mint.
State Bank of India (SBI), SBI Life Insurance Company Limited, and SBI Cards Payment Services Limited announced their second quarter results for the financial year 2026-27. According to Mint, SBI Cards outperformed expectations, while SBI Life missed street estimates.
The country's largest public sector lender, SBI, reported a 14.28 per cent annual jump in net profit to ₹23,037 crore for the quarter. Its net interest income increased by 14.69 per cent on an annual basis to ₹49,143 crore, while operating profit rose by 7.28 per cent to ₹34,226 crore.
SBI Cards reported a 75 per cent annual increase in net profit to ₹778 crore for the September quarter, up from ₹445 crore in the same quarter last year. SBI Life Insurance Company's net profit rose 11 per cent to ₹549 crore, while its net premium income increased by 8.17 per cent to ₹26,877 crore.
Abhinav Tiwari, Research Analyst at Bonanza, said SBI Cards beat profit estimates and SBI delivered an inline performance, but SBI Life missed expectations. Tiwari stated a preference for SBI over the other two entities.
Mayank Jain, Market Analyst at PhonePe Invest, said SBI demonstrates the strongest fundamental and operational outlook, followed by SBI Life. Jain noted that SBI Cards shows bottom-line recovery but faces top-line growth headwinds.
Virat Jagad, Technical Research Analyst at Bonanza, suggested a 'Buy on dip' for SBI at ₹960.00–₹968.00 with targets of ₹1,000.00 and ₹1,080.00. For SBI Life, he recommended a 'Buy on dip' at ₹1,665.00–₹1,675.00, while advising no fresh entry for SBI Cards.