Public sector banks recorded higher commission income from insurance sales in FY26, with most lenders reporting growth in this segment.
However, earnings from mutual fund distribution showed a mixed trend, as some banks witnessed an increase while others reported a decline.
According to an analysis of annual reports by PTI, the country’s largest lender, State Bank of India, continued to lead this space, earning ₹2,795.01 crore in insurance commissions during FY26, reflecting a 19.26% rise from ₹2,345.36 crore in the previous financial year.
Commission income from mutual fund distribution at SBI also increased by 7.05% to ₹1,617.52 crore, compared to ₹1,511.06 crore in FY25.
Out of the total ₹2,795.01 crore insurance commission earned by SBI, a major portion of ₹2,384.63 crore (around 85%) came from selling policies of its life insurance arm, SBI Life Insurance.
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