FSIB Recommends Ravi Ranjan as SBI’s Next Managing Director

The Financial Services Institutions Bureau (FSIB) has recommended Ravi Ranjan for the position of Managing Director at State Bank of India (SBI). The recommendation was announced on September 11, 2025. 

Ranjan will succeed the current MD, Vinay Tonse, who is set to complete his term on November 30, 2025.

FSIB stated that it interacted with nine candidates and, after evaluating their experience, performance, and leadership potential, selected Ranjan as the preferred choice. His appointment will be confirmed after the necessary approvals are obtained.

SBI’s Q1 FY26 Performance

Alongside this development, SBI recently reported its financial results for the first quarter of FY26, ended June 2025. The bank posted a net profit of ₹19,160 crore, reflecting a 15% year-on-year growth and beating market expectations of ₹16,664 crore. Other income saw a sharp rise to ₹17,345 crore from ₹11,162 crore in the same quarter last year.

However, net interest income (NII), a key metric of a bank’s profitability, remained flat at ₹41,072.4 crore, nearly unchanged from ₹41,126 crore last year.

SBI Share Price Performance

On September 12, 2025, SBI share price (NSE: SBIN) opened at ₹824.10, touching the day’s low at ₹819.80, as of 10:23 AM on the NSE.

Also Read: Auto Sweep Limit on SBI MOD Scheme Raised to ₹50,000: Here’s All You Need to Know!

Conclusion

The FSIB’s recommendation of Ravi Ranjan as SBI’s next MD comes at a time when the bank is showcasing strong profitability and improved non-interest income. His leadership will be crucial as SBI continues to navigate growth opportunities and maintain its position as India’s largest public sector bank.

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