New Delhi — The Department of Financial Services under the Finance Ministry has notified the appointment of Ravi Ranjan as Managing Director of State Bank of India, effective December 15, the country’s largest public sector lender said in a regulatory filing on Monday.
Ranjan was previously serving as Deputy Managing Director at SBI. His appointment has been made under the provisions of the State Bank of India Act, 1955, and he will hold office until his superannuation on September 30, 2028, or until further directions, whichever is earlier.
Before assuming his new role, Ranjan headed SBI’s Global Markets division as Deputy Managing Director for more than a year. He has also led several key strategic portfolios during his tenure as head of the bank’s Corporate Accounts Group.
Over a long career with SBI, Ranjan has held multiple senior leadership positions, including Chief General Manager of the Chennai Circle, where he was responsible for overseeing operations across Tamil Nadu and Puducherry.
The appointment comes at a time when SBI has reported steady financial performance. Earlier, the bank posted a 6.4 percent year-on-year increase in consolidated net profit to Rs 21,504.49 crore for the second quarter of FY26, compared with Rs 20,219.62 crore in the corresponding quarter of the previous fiscal year.
On a standalone basis, net profit rose 10 percent year-on-year to Rs 20,159.67 crore in Q2 FY26, up from Rs 18,331.44 crore a year earlier, supported by stable loan growth and improved asset quality.
Net interest income increased 3.28 percent year-on-year to Rs 42,984 crore from Rs 41,620 crore in the same quarter last year. However, the bank’s domestic net interest margin declined to 3.09 percent, down 18 basis points from 3.27 percent in the year-ago period, according to the filing. (Source: IANS)
