New Delhi: Led by State Bank of India (SBI), public sector banks cumulatively logged a record profit of Rs 44,218 crore in the first quarter of the current fiscal, with a growth of 11 percent year-on-year.
All 12 public sector banks together made a profit of Rs 39,974 crore in June quarter of FY25. The increase in profit in absolute terms was Rs 4,244 crore.
Market leader SBI alone contributed 43 percent to the total earnings of Rs 44,218 crore, as per the published numbers on stock exchanges.
SBI logged a net profit of Rs 19,160 crore in Q1 FY26, 12 percent higher than the same period of previous fiscal.
In percentage terms, Chennai-based Indian Overseas Bank reported the highest net profit growth of 76 percent to Rs 1,111 crore, followed by Punjab & Sind Bank with 48 percent rise to Rs 269 crore.
During the quarter, all 12 public sector banks (PSBs) except Punjab National Bank (PNB) reported a decline in profit.
PNB reported 48 percent fall in net profit at Rs 1,675 crore as against Rs 3,252 crore in the year-ago period.
Central Bank of India recorded 32.8 percent growth in June quarter net profit to Rs 1,169 crore, Indian Bank posted 23.7 percent rise to Rs 2,973 crore and Bank of Maharashtra logged 23.2 percent improvement to Rs 1,593 crore.
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