For the first half of the year, the aggregate profit of PSBs crossed `90,000 crore for the first time

Business Desk MUMBAI

All 12 public sector banks (PSBs) together made a profit of Rs 45,547 crore in the September quarter of FY25-26. Thus, the increase in profit in absolute terms was Rs 3,909 crore as compared to the same quarter of the previous financial year. 

 The cumulative profit of Rs 49,456 crore in the second quarter of the current fiscal, reflected a 9% y/y growth despite two lenders reporting a decline.  Market leader SBI alone contributed 40% to the total earnings of Rs 49,456 crore, as per the published numbers on stock exchanges, PTI reported.

SBI logged a net profit of Rs 20,160 crore in Q2 FY26, 10% higher than the same period of the previous fiscal. In percentage terms, Chennai-based Indian Overseas Bank reported the highest net profit growth of 58 per cent to Rs 1,226 crore, followed by Central Bank of India with a 33% rise to Rs 1,213 crore.

During the quarter, all 12 public sector banks (PSBs) except Bank of Baroda and Union Bank of India reported an 8% and 10% decline, respectively, in profit. Bank of Baroda reported an 8% fall in net profit at Rs 4,809 crore as against Rs 5,238 crore in the year-ago period. Another Mumbai-based lender, Union Bank of India, witnessed a 10% decline in bottomline at Rs 4,249 crore during the quarter. During the quarter, Bank of Maharashtra and Punjab & Sind Bank reported a 23% rise in profit, while Canara Bank, Punjab National Bank and Indian Bank posted 19%, 14% and 12%, respectively. Those which recorded single-digit growth in profit are Bank of India at 8%, while UCO Bank at 3%.  

It is to be noted that the PSBs recorded a slightly higher profit of 11% on an annual basis to Rs 44,218 crore in the first quarter as compared to Rs 39,974 crore in the June quarter of FY25. Together, the PSBs have earned Rs 93,674 crore as compared to Rs 85,520 crore in the April-September period of FY25, registering nearly 10% growth.