Public sector banks post 18% growth in profit to record ₹52,603 cr in Q3
The Hindu
Public sector banks report 18% profit growth to ₹52,603 crore in Q3, driven by SBI's significant contribution.
Led by the country's biggest lender, State Bank of India (SBI), public sector banks logged a record cumulative profit of ₹52,603 crore in the third quarter of the current fiscal, reflecting an 18% year-on-year growth.
All 12 public sector banks (PSBs) together made a profit of ₹44,473 crore in the December quarter of FY25. Thus, the increase in profit in absolute terms was ₹8,130 crore as compared to the same quarter of the previous financial year.
Market leader SBI alone contributed 40% to the total earnings of ₹52,603 crore, as per the published numbers on stock exchanges.
SBI posted the highest quarterly net profit of ₹21,028 crore in Q3 FY26, 24% higher than the same period of the previous fiscal.
In percentage terms, Chennai-based Indian Overseas Bank reported the highest net profit growth of 56% to ₹1,365 crore, followed by Central Bank of India with a 32% rise to ₹1,263 crore.
During the quarter, all 12 public sector banks (PSBs), except Bank of Baroda, Union Bank of India, Indian Bank, and Bank of India, reported profit growth in single digits.
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