According to a regulatory filing by the nation’s biggest public sector lender, Ravi Ranjan has been appointed as Managing Director of State Bank of India (SBI) by the Finance Ministry’s Department of Financial Services (DFS), effective December 15. Previously, Ravi Ranjan was the Deputy Managing Director of SBI. He will continue to serve until his superannuation on September 30, 2028, or until further orders, whichever comes first, according to the announcement made in compliance with the State Bank of India Act, 1955. Before assuming the role of Managing Director, Ravi Ranjan oversaw SBI’s Global Markets for almost a year as Deputy Managing Director.
Before that, he led the bank’s Corporate Accounts Group and managed several significant strategic portfolios. Over his long career with SBI, he has held several high-level leadership positions, such as Chief General Manager of the Chennai Circle, where he was in charge of operations in Puducherry and Tamil Nadu. The biggest public sector lender in India previously revealed that its consolidated net profit for the second quarter (Q2) of FY26 increased by 6.4 percent year over year (YoY) to Rs 21,504.49 crore. According to its stock exchange statement, the bank posted a profit of Rs 20,219.62 crore during the same time in the previous fiscal year (Q2 FY25).
Due to consistent loan growth and better asset quality, SBI’s net profit increased 10% year over year to Rs 20,159.67 crore from Rs 18,331.44 crore in Q2 FY25. The difference between interest earned and interest paid, or the bank’s net interest income (NII), increased 3.28 percent year over year to Rs 42,984 crore from Rs 41,620 crore during the same period last year. However, according to its regulatory filing, its domestic net interest margin (NIM) decreased to 3.09 percent, down 18 basis points from 3.27 percent a year ago.