AI-generated · cited to primary sources · not investment advice
SBI (500112) Feb 2026 Filing Analysis
Does management do what it says?
Recovery from AUCA accounts reached ₹2,604 crores in Q3FY26, exceeding the quarterly target of ₹2,000 crores. (1 exceeded across 1 tracked commitment)
“Recovery from AUCA accounts at ₹2,604 crores in Q3FY26”
The bank delivered an ROA of 1.15% and an ROE of 20.21% for H1FY26, both exceeding the structural targets. (3 exceeded, 2 met across 5 tracked commitments)
“I think we still stick to that 1% guidance. I do not want to jump the gun at this juncture... We want to be consistent on the ROA front. I think the guidance will remain at 1%.”
Corporate advances grew by 13.37% YoY in Q3FY26, surpassing the 10% target set for the quarter. (3 exceeded, 1 met, 1 missed across 5 tracked commitments)
“Corporate 11,76,303 13,33,564 13.37”
The bank achieved significant double-digit growth in the corporate segment during Q3, surpassing the 10% target. (2 exceeded, 2 met, 1 missed across 5 tracked commitments)
“And the credit growth advice, we had given 12% to 14% credit guidance earlier, we are revising that upwards to 13% to 15% for the current quarter.”
The bank has reached the 10.02 crore registered user milestone on YONO, marking the baseline for the 20 crore target. (1 in progress, 1 met across 2 tracked commitments)
“Scaling YONO from 10 crore registered users to 20 crores over the next 2 to 3 years is expected to support operating leverage and ROA sustainability.”
See the full cited Management analysis of SBI
How durable is the business?
The loan book is shifting slightly towards SME and Agri segments, which grew at 21.02% and 16.56% respectively, outpacing corporate growth. (1 shifted)
“SME [share] 14.36 [Dec 24] to 15.05 [Dec 25]”
See the full cited Business Model analysis of SBI
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