SBI and LIC Drive Rs. 1.41 Lakh Crore in Combined Net Profit in FY26

SBI Posts Record FY26 Profit

State Bank of India reported a record standalone net profit of Rs. 80,032 crore in FY26, up 12.88% from Rs. 70,901 crore in FY25. The bank's annual net interest income rose 4.08% to Rs. 1,73,120 crore. Its strong yearly performance helped drive the combined earnings significantly higher.

LIC Reports Rs. 57,419 Crore Profit

Life Insurance Corporation of India recorded a profit after tax of Rs. 57,419 crore for FY26, marking a 19.25% increase from Rs. 48,151 crore in FY25. LIC also reported total premium income of Rs. 5,35,984 crore, up 9.80% year-on-year, showing continued growth across its insurance business.

Combined Profit Reaches Rs. 1.41 Lakh Crore

SBI's Rs. 80,032 crore profit and LIC's Rs. 57,419 crore profit together amount to around Rs. 1,37,451 crore, or Rs. 1.37 lakh crore. Therefore, the commonly cited Rs. 1.41 lakh crore figure does not match the standalone FY26 PAT reported by the two companies. The distinction matters when comparing their results.

SBI Sees Strong Credit Growth

SBI's FY26 performance was supported by growth across several lending segments. Retail personal advances increased 15.22%, while agricultural advances grew 19.68%. SME advances rose 20.99%, and corporate advances increased 14.83%. At the end of March 2026, total deposits stood at Rs. 59.76 lakh crore, up 11.03% year-on-year.

Asset Quality Improves at SBI

SBI also reported an improvement in asset quality during FY26. Its gross non-performing asset ratio declined to 1.49% from 1.82% a year earlier. The net NPA ratio fell to 0.39%. The bank's capital adequacy ratio stood at 15.40% at the end of March 2026, strengthening its financial position.

LIC Expands Premium Business

LIC recorded total premium income of Rs. 5,35,984 crore in FY26, compared with Rs. 4,88,148 crore in FY25. Its value of new business increased 41.63% to Rs. 14,179 crore. The insurer's assets under management also rose 5.08% to Rs. 57.29 lakh crore during the year.

Strong Year for Two Major PSUs

The FY26 results highlight strong earnings from two of India's largest public-sector financial institutions. SBI reported its highest-ever annual profit, while LIC delivered double-digit profit growth. Together, their standalone profits totalled Rs. 1,37,451 crore. The results also show growth in lending, premiums, assets and other key business measures.

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