PSBs reported Rs.33,643 crore net profit this quarter, Check SBI, PNB, BOB and All Bank’s Profit
Public sector banks (PSBs) in India continued to perform well in the September quarter (Q2FY24), with combined net profit jumping 31% to ₹33,643 crore from the same period last year. This was driven by higher net interest income, advances growth, and lower provisions.
Leading the list was Punjab National Bank (PNB), which reported a 327% YoY rise in net profit to ₹1,756 crore in Q2FY24. Central Bank of India and Union Bank of India also posted strong profit growth of over 90% and 72%, respectively.
The gross non-performing assets (NPA) ratio of PSBs fell to 4.62% in Q2FY24 from 9.67% a year ago, while the net NPA ratio declined to 1.64% from 2.95%. This improvement in asset quality also contributed to the better financial performance of PSBs in Q2FY24.
Bank Wise Net Profit Data
| Bank Name | Q2FY24 net profit (in Rs.Crores) |
|---|---|
| Punjab National Bank | 1,756 |
| Central Bank of India | 605 |
| Union Bank of India | 3,511 |
| Bank of Maharashtra | 920 |
| Indian Bank | 1,988 |
| Bank of India | 1,458 |
| Canara Bank | 3,606 |
| Bank of Baroda | 4,253 |
| Indian Overseas Bank | 625 |
| State Bank of India | 14,330 |
| Total | 33,643 |
Bank Wise Net Profit Growth Data
| Bank Name | YoY Growth |
|---|---|
| Punjab National Bank | 327% |
| Central Bank of India | 90.25% |
| Union Bank of India | 90% |
| Bank of Maharashtra | 72% |
| Indian Bank | 62.2% |
| Bank of India | 52% |
| Canara Bank | 43% |
| Bank of Baroda | 28.37% |
| Indian Overseas Bank | 24.75% |
| State Bank of India | 8.02% |
