SBI Enters USD 100 Billion Market-Cap Club

State Bank of India (SBI), the country’s largest public sector lender, has joined the elite USD 100 billion market-cap club following a remarkable rally in its share price. With this milestone, SBI becomes the sixth Indian company to achieve this feat, reaffirming its dominant position in the financial sector.

Record Market Performance

SBI’s stock surged over 1 per cent on Thursday, closing at ₹959.85 per share on the National Stock Exchange (NSE). This propelled its market capitalisation to ₹8.87 lakh crore (approximately USD 100 billion). The bank now stands behind Reliance Industries, HDFC Bank, Bharti Airtel, Tata Consultancy Services, and ICICI Bank in market valuation. Over the past month, SBI shares have risen by 10 per cent and over 23 per cent in the last six months, reflecting strong investor confidence.

Q2FY26 Results Drive Momentum

The recent surge follows SBI’s robust second-quarter performance for FY26, announced on Wednesday. The bank reported a 10 per cent year-on-year increase in net profit to ₹20,159.67 crore, aided by a one-time gain of ₹4,593 crore from selling a 13.18 per cent stake in Yes Bank. Its total business also crossed ₹100 lakh crore, marking another historic achievement.

Key Financial Indicators

SBI’s net interest income (NII) for Q2FY26 rose 3.28 per cent to ₹42,985 crore, while pre-provision operating profit (PPOP) stood at ₹27,310.92 crore, reflecting a 6.8 per cent decline year-on-year. The bank maintained a stable net interest margin (NIM) of 2.97 per cent, with its domestic NIM at 3.09 per cent. These results underscore the lender’s resilience amid fluctuating global and domestic market conditions.

Exam Oriented Facts

• SBI became the sixth Indian company to cross the USD 100 billion market-cap milestone in November 2025.
• Its Q2FY26 net profit rose 10% year-on-year to ₹20,159.67 crore.
• The bank’s total business surpassed ₹100 lakh crore for the first time.
• Other companies in the USD 100 billion club include Reliance, HDFC Bank, Airtel, TCS, and ICICI Bank.

Outlook and Market Significance

Analysts view SBI’s achievement as a sign of the banking sector’s continued strength and India’s growing financial depth. The milestone reflects not only SBI’s profitability and operational scale but also increasing investor optimism in public sector enterprises. With stable margins and expanding retail growth, SBI’s market cap surge reinforces its pivotal role in India’s economic and financial landscape.