PSBs reported Rs.33,643 crore net profit this quarter, Check SBI, PNB, BOB and All Bank’s Profit

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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 NameQ2FY24 net profit (in Rs.Crores)
Punjab National Bank1,756
Central Bank of India605
Union Bank of India3,511
Bank of Maharashtra920
Indian Bank1,988
Bank of India1,458
Canara Bank3,606
Bank of Baroda4,253
Indian Overseas Bank625
State Bank of India14,330
Total33,643

Bank Wise Net Profit Growth Data

Bank NameYoY Growth
Punjab National Bank327%
Central Bank of India90.25%
Union Bank of India90%
Bank of Maharashtra72%
Indian Bank62.2%
Bank of India52%
Canara Bank43%
Bank of Baroda28.37%
Indian Overseas Bank24.75%
State Bank of India8.02%
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