Public sector The net profit of 12 banks was increased by 31.3 percent to Rs 1,29,426 crore on an annual basis in the first nine months of FY 2024-25. This is the highest total net profit in this period so far. The Finance Ministry said in a statement that public sector banks got a total operational benefit of Rs 2,20,243 crore during the period under review. According to the statement, the net profit growth and asset quality of these banks have been quite good. Also there is enough capital buffer.
242.27 lakh crore rupees were total business
The ministry said that a much less pure NPA ratio of 0.59 percent shows better asset quality. Public sector banks have registered a total commercial growth of 11 per cent annually with a better total deposit of 9.8 per cent. During the period under review, the total business of public sector banks reached Rs 242.27 lakh crore. These banks also recorded a strong debt hike of 12.4 percent. Retail debt hike was 16.6 percent, agricultural loan hike was 12.9 percent and MSME loan hike was 12.5 percent.
Government banks are in better position
According to the statement, the construction of a sufficient capital buffer with a ratio of 14.83 percent risk -loaded assets was much higher than a minimum requirement of 11.5 percent. The ministry said, “Public sector banks are adequate capitalized and are in good position to meet the loan demands of all sectors of the economy, which has given special emphasis on agriculture, MSME and infrastructure sector.” Said that due to policy and procedural reforms, debt discipline, identification and solution of crisis -affected assets, better operations, financial inclusion initiatives and better systems have been encouraged to adopt technology.
(With PTI/language input)
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