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The Listing Department, The Listing Department, BSE Limited, National Stock Exchange of India Limited, Phiroje Jeejeebhoy Towers, Exchange Plaza, 5th Floor, ‘G’ Block, 25th Floor, Dalal Street, Bandra Kurla Complex, Bandra (East), Mumbai – 400001 Mumbai – 400051 BSE SCRIP Code: 500112 NSE SCRIP Code: SBIN CC/S&B/AND/2026-27/516 07.11.2026 Madam / Sir, Disclosure under Regulation 30 of SEBI (LODR) Regulations, 2015 Transcript of Analyst Meet Pursuant to Regulation 30 read with Para A Part A of Schedule III to SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we submit the transcript of the Q2FY27 post results Analyst Meet held on 03.11.2026. Yours faithfully, (Aruna N Dak) DGM (Compliance & Company Secretary) Encl: A/a Q2FY27 ANALYST MEET TRANSCRIPT 03.11.2026 MANAGEMENT MR. C S SETTY CHAIRMAN, STATE BANK OF INDIA MR. ASHWINI KUMAR TEWARI MANAGING DIRECTOR (CORPORATE BANKING AND SUBSIDIARIES) MR. RANA ASHUTOSH KUMAR SINGH MANAGING DIRECTOR (INTERNATIONAL BANKING, GLOBAL MARKETS & TECHNOLOGY) MR. RAMA MOHAN RAO AMARA MANAGING DIRECTOR (RETAIL BUSINESS AND OPERATIONS) MR. RAVI RANJAN MANAGING DIRECTOR (RISK, COMPLIANCE AND STRESSED ASSETS RESOLUTION GROUP) MR. ANINDYA SUNDER PAUL DEPUTY MANAGING DIRECTOR (FINANCE) MR. A RAVI SHANKAR CHIEF GENERAL MANAGER (FINANCIAL CONTROL) MR. PAWAN KUMAR GENERAL MANAGER (PERFORMANCE, PLANNING & REVIEW) State Bank of India 3rd November, 2026 Mr. Pawan Kumar - General Manager (Performance, Planning and Review), State Bank of India Good evening, ladies and gentlemen. I am Pawan Kumar, General Manager, Performance, Planning and Review Department of the bank. On behalf of State Bank of India, I extend a warm welcome to our analysts, investors, colleagues, and everyone gathered here following the declaration of bank’s Q2 FY2027 results. I also welcome all the participants joining us through the LIVE webcast. It is my privilege to extend a respectful welcome to our Chairman, Shri. C.S. Setty, and our top management on the dais. • Our Managing Director, Corporate Banking and Subsidiaries, Shri Ashwini Kumar Tewari. • Our Managing Director, International Banking, Global Markets and Technology, Shri Rana Ashutosh Kumar Singh. • Our Managing Director, Retail Banking and Operations, Shri Rama Mohan Rao Amara. • Our Managing Director, Risk, Compliance and SARG, Shri Ravi Ranjan. • Our Deputy Managing Director, Finance, Shri A.S. Paul. Seated in the front rows are our Deputy Managing Directors heading various verticals and the Managing Director of our subsidiaries. We also welcome the CGMs representing various verticals and business groups, as well as other senior functionaries from the circles and various officers joining us through our LIVE webcast. Our chairman will present an overview of the Bank’s Q2 FY2027 performance and the strategic initiatives undertaken during the period. His address will be followed by a question-and-answer session. Before inviting Chairman Sir to address the gathering, I will read out the safe harbor statement. Certain statements in today’s presentation may be forward-looking statements. These statements are based on the management’s current expectations and are subject to uncertainty and changes in circumstances. Actual outcomes may differ materially from those included in these statements due to a variety of factors. Thank you. May I now invite Chairman Sir to deliver his opening remarks. Chairman Sir, please. State Bank of India 3rd November, 2026 Mr. C.S. Setty – Chairman, State Bank of India Thank you. Good evening, ladies and gentlemen. It is a pleasure to welcome you to SBI’s Analyst Meet following the announcement of our second quarter results. Thank you for joining us in this Analyst Meet. The quarter went by reflects the continued resilience of the Indian economy and the underlying strength of SBI’s franchise. While our financial results provide an immediate measure of performance, I would like to use this opportunity to focus also on the drivers that will determine the quality, efficiency, and sustainability of our growth over the medium term. The global environment remains uncertain with the geopolitical developments, shifts in trade policy, energy prices, and financial market volatility continuing to influence the outlook. India, however, remains on a strong growth trajectory. Domestic demand, investment, and sustained activity across manufacturing and services continue to support economic momentum. The RBI’s October assessment places FY2027 real GDP growth at 7.1%. For the banking sector, this provides a supportive environment for credit growth and the productive deployment of capital. At the same time, evolving liquidity conditions, funding costs, inflation, and currency movements call for a continued financial discipline. We see significant opportunities ahead, but our approach remains firmly anchored in the quality of growth, prudent underwriting, and strong risk management. At SBI, our objective is to build on the strength of our franchise, while continuously improving the way we serve customers and deploy our resources. A key priority is to enhance productivity across our extensive branch network by progressively shifting routine banking transactions to digital and self-service channels. This allows our branches and employees to devote greater attention to customer engagement, relationship building, and business generation. I had mentioned some of the initiative under Project SARAL. Two major initiatives which have undertaken – • Re-KYC Program and • Seva Sarathi. State Bank of India 3rd November, 2026 I would like to share a few thoughts on that. Our Re-KYC program illustrates the progress we are making on simplification of journeys. Since its launch in June, more than 1.2 crore, Re-KYC updates have been completed digitally reducing branch intervention by more than 50%, translating into 50,000 man-hours saved every day. These are meaningful productivity gains that can be redirected towards higher value customer engagement and business activities. We are seeing similar benefits from our Seva Sarathi initiative. More than 9,500 Seva Sarathis are now deployed across high footfall branches, helping customers access routine services and migrate progressively towards digital and self-service channels. This is reducing branch-based servicing of routine transactions while delivering meaningful savings in servicing costs. Importantly, these initiatives are being implemented at scale, and their impact is being measured through tangible operating outcomes. This gives us a replicable framework for driving productivity and efficiency across other areas of the bank. Cyber resilience is another area where we are investing for the future. The recently inaugurated SBI CyRIS, our Cyber Resilience, Integrity, and Security Center of Excellence, will strengthen our capabilities while facilitating greater collaboration and knowledge sharing across the BFSI ecosystem. Collectively, these initiatives are aimed at building a more productive, technology-led, and scalable operating model for SBI. Let me now turn to our business and financial performance. • Net Profit for the quarter was at ₹23,038 crore. • Operating Profit was ₹34,226 crore, registering a year-on-year change of 7.28%. • Domestic Net Interest Margin improved to 3.11% for the quarter. For the half year- • Return on Assets remained healthy at 1.14% and • Return on Equity stood at 18.68%, sustaining performance comfortably above our long-term guidance. • Total business aggregated ₹115 trillion, with the deposits amounting to ₹63 trillion and advances crossing ₹52 trillion. • Credit growth remained well-diversified, with the Retail, Agriculture, MSME, and corporate advances all recording double-digit growth. State Bank of India 3rd November, 2026 • Our overseas operations also recorded healthy growth in both deposits and advances. • Our liability franchise remains a core strength and a key competitive advantage. • De [Showing first 8,000 characters — download PDF for full document]