MUMBAI : State Bank of India could nearly double its total business to around ₹200 lakh crore by 2030 if the Indian economy keeps growing at 7- 8% a year, Chairman C.S. Setty said.
The bank’s total business deposits plus loans stood at ₹110.01 lakh crore at the end of June 2026. It had crossed the ₹100-lakh-crore mark only in the second quarter of FY26. Setty made clear there is no formal target for the bank’s 75th anniversary in 2030. On the current trajectory he expects ₹170 -180 lakh crore. ₹200 lakh crore, he said, remains possible.
The June quarter numbers show why the chairman is willing to talk in those terms. Gross advances rose 18.63% year-on-year to ₹50.47 lakh crore. Deposits grew more slowly, at 9.73%, to ₹60.05 lakh crore. Net profit increased 10.23% to ₹21,121 crore. Net interest income climbed 14.41% to ₹46,992 crore, lifting the domestic net interest margin to 3% and the consolidated margin to 2.86%.
Loan growth was broad-based. Retail, agriculture and Micro, Small and Medium Enterprises (MSME) advances together rose 18.2%. Retail loans alone grew 15.2%, home loans 12.8%, and corporate advances 18.05%. The corporate pipeline stood at ₹3.58 lakh crore in August, with demand coming from infrastructure, renewable energy, battery storage and data centres.
Asset quality improved even as the loan book expanded. Gross NPAs fell to ₹74,272 crore from ₹78,040 crore a year earlier. The gross NPA ratio dropped to 1.47% from 1.83%; net NPA declined to 0.38% from 0.47%.
SBI has also been building its foreign-currency funding. The bank has already mobilised about $6 billion under the RBI’s FCNR(B) scheme and is aiming for $10 billion through the concessional swap window.
Reaching ₹200 lakh crore from today’s ₹110 lakh crore would require the bank to add nearly ₹90 lakh crore in four years. That remains a projection, not a commitment. The more probable range, on present trends, is ₹170 -180 lakh crore.
