All Public Sector Banks declares net profit ; FM hails the results of Govt efforts

New Delhi: The continuous efforts of our govt for reducing the NPAs (Non-Performing Assets) and further strengthening the health of PSBs (Public Sector Banks) are now showing tangible results, said Finance Minister Nirmala Sitharaman in a tweet today.

All 12 PSBs declared net profit of Rs 25,685 crore in the second quarter of the financial year 2023 and a total of Rs 40,991 crore in the first half of the financial year 2023, up by 50% and 31.6%, respectively (y-o-y), the Finance Minister further noted in her tweet.

In Q2 of FY23 (year-on-year)

✅ SBI reports 74 % jump in profit to Rs 13,265 cr

✅ Canara Bank reports 89% jump in profit to Rs 2,525 cr

✅ UCO Bank reports 145% jump in profit to Rs 504 cr

✅ Bank of Baroda reports 58.70% profit of Rs 3,312.42 cr