Global banking sector reports mixed Q3 2026 financial results

Major financial institutions reported diverse performance metrics for the first nine months of 2026. In India, State Bank of India (SBI) saw a 14.3% year-on-year increase in net profit, reaching ₹23,038 crore, supported by a 14.7% rise in net interest income and improved asset quality.

In Europe, Portuguese lender Novobanco reported a 4.1% decline in net profit to €585.6 million, attributed to higher operating costs related to its sale process to the French group BPCE. Similarly, Portugal’s BPI saw a 7% profit reduction to €363 million, primarily due to non-recurring accounting effects, despite a 9% growth in total credit.

In West Africa, NSIA Banque Côte d’Ivoire reported a 26.6% drop in net profit to 18.4 billion CFA francs, driven by a 19% contraction in customer loans. Société Générale Côte d’Ivoire also saw a 3.5% decline in net profit to 80.42 billion CFA francs. Meanwhile, Bank of Africa Bénin recorded a 3% decrease in net profit to 15.33 billion CFA francs.

In Brazil, Santander reported a managerial net profit of R$ 9.687 billion, a 16% decrease compared to 2025, while simultaneously reducing its workforce by nearly 6,000 positions and closing over 200 service locations.