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

Business Standard LogoBusiness Standard1w ago

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.


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Category: BusinessFinance

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Article Type: News Report

Published On: 2024-11-12 @ 16:18:55 (1 weeks ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 529 words

Reading Time: 3 minutes read

Sentences: 17 lines

Sentence Length: 32 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Standard

News ID: 23551471

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