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State-owned banks post record profit of Rs 1.29 lakh cr in Apr-Dec period |
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| 6-2-2025 | |||
New Delhi, Feb 6 (PTI) Public sector banks (PSBs) have posted highest-ever net profit of Rs 1.29 lakh crore in the April-December period of the current fiscal year, marking an annual increase of 31.3 per cent. In a statement, the finance ministry said the performance of PSBs has shown significant improvement on key financial parameters, like record net profit growth, improved asset quality, and build-up of adequate capital buffers, during the period under review. The 12 state-owned banks recorded net profit growth of 31.3 per cent (year-on-year) to achieve highest-ever aggregate net profit of Rs 1,29,426 crore and aggregate operating profit of Rs 2,20,243 crore in the nine months of the financial year. Further, improved asset quality is also visible from significantly low net NPA ratio at 0.59 per cent (aggregate net NPA outstanding of Rs 61,252 crore), the finance ministry said in a statement. They posted aggregate business growth of 11 per cent (year-on-year), with improved aggregate deposit growth at 9.8 per cent. Total aggregate business of PSBs reached Rs 242.27 lakh crore during the period. The banks also reported robust credit growth of 12.4 per cent, led by retail credit growth of 16.6 per cent, agriculture credit growth of 12.9 per cent and MSME credit growth of 12.5 per cent. The build-up of adequate capital buffers, with aggregate capital to risk weighted assets ratio of 14.83 per cent, was significantly above the minimum requirement of 11.5 per cent. "PSBs are adequately capitalised and well poised to meet credit demands of all sectors of the economy, with special thrust on agriculture, MSME and infrastructure sector," the ministry said. The finance ministry further said the policy and process reforms have resulted in enhanced systems and processes for credit discipline, recognition and resolution of stressed assets, responsible lending, improved governance, financial inclusion initiatives, and technology adoption. These measures, it emphasised, have led to a sustained financial health and robustness of banking sector as a whole that is reflected in the current performance of the PSBs. The PSBs are Bank of Baroda, Bank of India, Bank of Maharashtra, Canara Bank, Central Bank of India, Indian Bank Indian Overseas Bank, Punjab National Bank, Punjab & Sind Bank, State Bank of India, Union Bank of India, and UCO Bank. PTI NKD TRB Source: PTI |
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