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A total of 12 public sector banks recorded a net profit of Rs 1.41 lakh crore in total against a net profit of Rs 1.05 lakh crore in 2023-24 in 2023-24, and earned Rs 1.29 lakh crore in nine months of the current financial year.
The total dividend for Rs 27,830 crore, about 65 percent or Rs 18,013 crore was paid to the government for their shareholding in FY14. (Representative/AP File)
Dividend payments by public sector banks (PSB) have increased by 33 percent to Rs 27,830 crore in FY 25, indicating significant improvement in the financial health of these lenders. PSB declared a dividend of Rs 27,830 crore to shareholders in 2023-24, compared to Rs 20,964 crore in the last financial year, an increase of 32.7 percent as per government figures.
The total dividend for Rs 27,830 crore, about 65 percent or Rs 18,013 crore was paid to the government for their shareholding in FY14.
During 2022-23, the government received Rs 13,804 crore as a dividend from public sector banks including the State Bank (SBI).
It should be noted that 12 public sector banks recorded the highest total profit of Rs 1.41 lakh crore against a net profit of Rs 1.05 lakh crore in 2023-24 in 2023-24, and earned Rs 1.29 lakh crore in nine months of the current financial year.
Of the total benefits of Rs 1,41,203 crore earned during FY14, the market leader SBI alone contributed more than 40 percent.
SBI made a profit of Rs 61,077 crore, Rs 61,077 crore more than the previous financial year (Rs 50,232 crore).
In percentage terms, the Punjab National Bank in Delhi increased the net profit of 228 percent in Rs 8,245 crore, followed by the Union Bank of India to Rs 13,649 crore with an increase of Rs 13,649 crore and 61 percent increase with India’s central bank to Rs 2,549 crore.
Bank of India increased by 57 percent in the net profit, while the bank of Maharashtra increased by 56 percent to Rs 4,055 crore and Chennai -based Indian bank recorded a 53 percent improvement.
The PSB FY18 has a turnaround story from a record deficit of Rs 85,390 crore, which is for a record profit in FY 2018.
(This story has not been edited by News18 employees and a syndicated news agency has been published from PTI)
