Indian Public Sector Banks (PSBs) have recorded their highest-ever aggregate net profit of Rs 1.41 lakh crore in the financial year 2023-24, the Ministry of Finance said in a release on Sunday.
The Gross Non-Performing Assets (GNPA) ratio steeply declined, dropping to 3.12 per cent in September 2024. Demonstrating continued momentum, the PSBs have registered a net profit of Rs 85,5206,000 crore in the first half of 2024-25. In addition to their stellar performance, PSBs have contributed significantly to shareholder returns, paying a total dividend of Rs 61,964 crore over the past three years.
This remarkable financial growth underscores the sector's operational efficiency, improved asset quality, and stronger capital base, the Ministry said adding that this landmark achievement reflects the sector's robust turnaround, underpinned by a significant improvement in asset quality.
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