The Finance Ministry has called a meeting of the heads of public sector banks (PSBs) on August 20 to review their financial performance in the first quarter of this fiscal year.
The meeting is scheduled to be chaired by Financial Services Secretary, M Nagaraju.
Led by the State Bank of India (SBI), the PSUs have logged an impressive record profit of ₹44,218 crore in the first quarter of the current fiscal, with an 11 per cent year-on-year growth.
All 12 public sector banks together made a profit of ₹39,974 crore in the June quarter of FY25; with the increase in profit in absolute terms being ₹4,244 crore.
Of this, market leader SBI alone contributed 43 per cent to the total earnings of ₹44,218 crore, logging a net profit of ₹19,160 crore in Q1 FY26, as per the published numbers on stock exchanges.
Also Read: PSU banks log ₹44,218-cr profit in Q1
This was 12 per cent higher than the same period of the previous fiscal. In terms of size and profits, the biggest lender in the nation still controls the public banking market.
In percentage terms, Chennai-based Indian Overseas Bank reported the highest net profit growth of 76 per cent to ₹1,111 crore, followed by Punjab & Sind Bank with a 48 per cent rise to ₹269 crore.
During the quarter, all 12 public sector banks, except Punjab National Bank (PNB), reported a rise in profit.
PNB reported a 48 per cent fall in net profit to ₹1,675 crore against ₹3,252 crore in the year-ago period.
Central Bank of India recorded 32.8 per cent growth in the June quarter net profit to ₹1,169 crore, Indian Bank posted 23.7 per cent rise to ₹2,973 crore, and Bank of Maharashtra logged 23.2 per cent improvement to ₹1,593 crore.
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