Led by State Bank of India, 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% 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% 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% higher than the same period of previous fiscal.
In percentage terms, Chennai-based Indian Overseas Bank reported the highest net profit growth of 76 per cent to Rs 1,111 crore, followed by Punjab & Sind Bank with 48% rise to Rs 269 crore.
During the quarter, all 12 public sector banks except Punjab National Bank reported a decline in profit.
PNB reported 48% 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% growth in June quarter net profit to Rs 1,169 crore, Indian Bank posted 23.7% rise to Rs 2,973 crore and Bank of Maharashtra logged 23.2% improvement to Rs 1,593 crore.
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