SBI joins global top 100 in net profit, becomes third Indian firm to achieve the milestone

State Bank of India (SBI), which entered the global top 50 banks by assets following its landmark merger with five associate banks nearly a decade ago, has now set a new benchmark — this time in profitability. With a net profit of $9.2 billion (₹77,561 crore) in FY25, the country’s largest lender has joined the ranks of the world’s most profitable companies, alongside global heavyweights such as Alphabet, Apple, NVIDIA, and JPMorgan Chase, according to data compiled by Bloomberg.

Alphabet, the parent company of Google, leads the list with an impressive $111 billion in annual income, followed by Saudi Aramco at $105 billion, underscoring the sustained strength of the energy sector in global earnings. Tech giants such as Apple, Microsoft, NVIDIA, and Meta also feature in the top 10, highlighting how digital innovation continues to shape corporate profitability worldwide. SBI ranks 98th on the list, just behind Netflix and Cisco Systems.

The data also reveals a strong geographic skew, with US-based companies dominating the list with 43 entries. China follows with 19 companies, while Germany ranks third with five firms making the cut.

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While this is a first for SBI, it’s not the first time an Indian company has broken into the global top 100 profit-makers. In 2009, state-run Oil and Natural Gas Corporation (ONGC) ranked 71st globally in net profit and maintained its position among the top 100 in subsequent years. Reliance Industries Ltd, India’s most valuable company, also made the list in 2021, ranking 98th.

SBI’s climb up the profit ladder comes on the back of a strong 31% compound annual growth in net profit over the last five years. Jefferies, which has a “Buy” rating on SBI with a price target of ₹960, noted that the bank’s Q4 earnings outperformed estimates, supported by stronger recoveries and forex gains despite elevated operating costs. The brokerage highlighted the need for a pickup in deposit growth but noted that loan growth at 12% now appears sustainable. Importantly, asset quality has remained resilient, even in the unsecured loan segment.

According to Bloomberg, of the 51 analysts tracking SBI, 41 have a “Buy” rating, nine recommend a “Hold,” and only one has a “Sell” rating. Shares of SBI have climbed 9.3% in the past three months, outperforming the Nifty50’s 8.2% gain during the same period.

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