The Financial Services Institutions Bureau (FSIB) announced on Thursday (September 11) that it has recommended Ravi Ranjan for the position of managing director at State Bank of India (SBI). The current MD, Vinay Tonse, is set to complete his term on November 30, 2025
FSIB said it interacted with nine candidates for the role and, after assessing their performance, experience, and relevant parameters, shortlisted Ranjan as the preferred choice.
#JustIn | Finance Services Institutions Bureau recommends Ravi Ranjan for the position of Managing Director in State Bank of India#Ravirijan #StateBankOfIndia #SBI #Banking pic.twitter.com/oaSzB5NdgS
— CNBC-TV18 (@CNBCTV18Live) September 11, 2025
The appointment will be finalised after the requisite approvals.
Q1 results
SBI announced its first quarter results last month.
For the first quarter of FY26, ended June 2025, SBI reported a net profit of ₹19,160 crore, marking a 15% year-on-year increase and surpassing Street expectations of ₹16,664 crore.
Other income for the quarter increased to ₹17,345 crore from ₹11,162 crore last year.
Net interest income (NII) or core income for the quarter remained flat at ₹41,072.4, which is nearly the same as the previous year’s figure of ₹41,126 crore, and marginally below the CNBC-TV18 poll figure of ₹41,650 crore.
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Shares of State Bank of India ended higher on Thursday (September 11) by 0.67% at ₹823.80 on the BSE.
