Public sector banks news: Public sector banks led by State Bank of India (SBI,) made a record profit of Rs 44,218 crore in the first quarter of the current financial year. This is 11 percent higher than the same quarter of the previous financial year. In the April-June quarter of the last financial year 2024-25, all 12 public sector banks made a total profit of Rs 39,974 crore. Overall, the profit increased by Rs 4,244 crore. SBI alone contributed 43 percent to the total profit of Rs 44,218 crore.
According to data published on the stock markets, SBI alone contributed 43 percent to the total profit of Rs 44,218 crore. SBI earned a net profit of Rs 19,160 crore in the first quarter of the current financial year, which is 12 percent higher than the same quarter of the previous financial year.
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Chennai -based Indian Overseas Bank earned a net profit of Rs 1,111 crore with the highest growth of 76 percent, after which Punjab and Sindh Bank had a net profit of 48 percent to Rs 269 crore. Except for Punjab National Bank (PNB) in the first quarter of the current financial year, there has been an increase in the profits of all the 12 public sector banks.
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PNB’s net profit declined by 48 percent to Rs 1,675 crore, compared to Rs 3,252 crore in the same quarter of the previous financial year. The net profit of Central Bank of India increased by 32.8 percent to Rs 1,169 crore in the April-June quarter of the current financial year, the net profit of Indian Bank increased by 23.7 percent to Rs 2,973 crore and Bank of Maharashtra increased to Rs 23.2 percent to Rs 1,593 crore. (Language)
Edited by: Chetan Gour
