State Bank of India's ratings reaffirmed by ICRA and CARE, outlook stable

State Bank of India (SBI) has had its credit ratings reaffirmed by ICRA Limited and CARE Ratings Limited as of October 13, 2025. ICRA reaffirmed the [ICRA]AA+ (Stable) rating for Basel III Tier I bonds worth ₹19,500 crore and [ICRA]AAA (Stable) for Basel III Tier II bonds, infrastructure bonds, long-term bonds, and fixed deposits. CARE Ratings also assigned a 'CARE AAA; Stable' rating for Tier II bonds worth ₹7,500 crore and reaffirmed existing 'CARE AAA; Stable' and 'CARE AA+; Stable' ratings for other instruments.

The ratings reflect SBI's majority sovereign ownership (55.03% by the Government of India post-QIP in July 2025), its status as a Domestic Systemically Important Bank (D-SIB), and its dominant market position with a 22.8% share in advances and 23.7% in deposits as of March 31, 2025. SBI's capital adequacy remained strong, with a CET I of 11.10% and CRAR of 14.63% as of June 30, 2025.

SBI reported a total income of ₹5,24,172 crore and a profit after tax of ₹70,901 crore for FY2025. Asset quality improved, with gross NPAs at 1.83% and net NPAs at 0.47% as of June 30, 2025. The bank's liquidity profile remains superior, with a liquidity coverage ratio of 136.67% and a net stable funding ratio of 129.55% as of June 30, 2025.