SBIN Q2 FY27 Guidance vs Delivery (SBIN Management Mirror)

FY27 Credit Growth Guidance Reaffirmed at 14%-15% Through Sep'26 Qtr Amid 16% YoY Corporate Expansion

In Sep'26 Qtr, State Bank of India reported 16% year-on-year corporate loan growth, though year-to-date corporate growth stayed near 1% as finer-priced refinancing was avoided. Against this, management reaffirmed the full-year FY27 credit growth guidance of 14% to 15% initiated at 13% to 15% in Mar'26 Qtr and maintained through Jun'26 Qtr. Management expects growth to be supported by a Rs 7.8 trillion corporate pipeline and steady second-half seasonality, with FY28 guidance slated for Q1 FY28.