India's largest public lender, State Bank of India (SBI) reported a 10% year-on-year (YoY) growth in its standalone net profit at Rs 21,121 crore in the first quarter. The profit beat the Street estimate of Rs 19,052 crore. It was Rs 19,160 crore in the last year quarter.Net interest income in the reporting quarter rose 15% YoY to Rs 46,992 crore. NII was also higher than the estimates of Rs 46,214 crore.Operating profit rose 10% YoY to Rs 33,529 crore. Domestic net interest margin stood at 3%, improving 7 basis points from Q4FY26. Whole bank NIM improved 5 basis points sequentially to 2.86%.The margin improvement will be watched closely, as analysts had expected funding cost pressure and term deposit repricing to weigh on SBI’s profitability in the quarter.Business crosses Rs 110 trillionSBI said its total business crossed Rs 110 trillion during the quarter. Deposits were above Rs 60 trillion, while advances crossed Rs 50 trillion. Whole bank advances grew 19% YoY, while domestic advances rose 18.15%. Foreign office advances increased 21% in rupee terms and 10% in dollar terms.Growth was broad-based across retail, agriculture, SME and corporate loans. RAM advances rose 18.20% year-on-year, with all segments growing in double digits.Agriculture advances grew 25%, followed by SME advances at 22%. Retail personal advances rose 15%, while corporate advances grew 18%.