India’s two largest public-sector financial institutions, State Bank of India (SBI) and Life Insurance Corporation of India (LIC), delivered robust earnings for the fiscal year 2025–26. Their combined standalone net profit stood at approximately Rs. 1.37 lakh crore, driven by double-digit growth in both banking and insurance operations.
SBI Posts Record Annual Profit
SBI reported a standalone net profit of Rs. 80,032 crore in FY26, a 12.88% increase from Rs. 70,901 crore in the previous fiscal year. The bank’s net interest income rose 4.08% to Rs. 1,73,120 crore. SBI’s strong performance was supported by growth across lending segments: retail personal advances increased 15.22%, agricultural advances grew 19.68%, SME advances rose 20.99%, and corporate advances increased 14.83%. Total deposits at the end of March 2026 stood at Rs. 59.76 lakh crore, up 11.03% year-on-year.
Asset quality also improved. SBI’s gross non-performing asset ratio declined to 1.49% from 1.82% a year earlier, while the net NPA ratio fell to 0.39%. The bank’s capital adequacy ratio strengthened to 15.40%, underscoring its financial resilience.
LIC Delivers Double-Digit Profit Growth
LIC recorded a profit after tax of Rs. 57,419 crore in FY26, marking a 19.25% increase from Rs. 48,151 crore in FY25. Total premium income rose 9.80% to Rs. 5,35,984 crore. The insurer’s value of new business jumped 41.63% to Rs. 14,179 crore, and assets under management grew 5.08% to Rs. 57.29 lakh crore.
Combined Profit Highlights
Adding SBI’s Rs. 80,032 crore and LIC’s Rs. 57,419 crore gives a combined standalone profit of Rs. 1,37,451 crore (approximately Rs. 1.37 lakh crore). This figure differs from the commonly cited Rs. 1.41 lakh crore aggregate, which may include other income components. The distinction is important when comparing standalone results.
Strong Year for India’s Leading PSUs
FY26 marked a standout year for both institutions. SBI achieved its highest-ever annual profit, while LIC sustained double-digit earnings growth. Together, they reflect the strength of India’s public-sector financial ecosystem, with gains in lending, premiums, asset quality, and other key metrics.