PSBs show robust performance in H1 with 26% net profit growth: FinMin

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PSBs show robust performance in H1 with 26% net profit growth: FinMin - Business Standard

Quick Summary:

The aggregate business of 12 public sector banks (PSBs), including State Bank of India and Punjab National Bank, stood at Rs 236.04 lakh crore during the April-September period, registering an 11 per cent year-on-year (YoY) growth.

The finance ministry on Tuesday said public sector banks (PSBs) have shown robust performance in the first half of the current fiscal year with a 26 per cent growth in net profit, increase in business and decline in non-performing assets (NPAs).

During the first six months of FY25, credit and deposit portfolio grew 12.9 per cent and 9.5 per cent YoY, and stood at Rs 102.29 lakh crore and Rs 133.75 lakh crore, respectively.