Finance Minister Nirmala Sitharaman. (File photo)
Nearly all public sector banks have declared their quarterly results. Now the Finance Ministry is going to have an important meeting with the heads of public sector banks. The purpose of this meeting is to review the quarterly results of these banks. The meeting will be chaired by Financial Services Secretary M Nagaraju. According to the agency report, there will be a review meeting with public sector banks on August 20 to assess the first quarter performance of 2025-26.
Which bank earned so much
Talking about the quarterly results, the country’s largest government bank SBI recorded a net profit of Rs 19,160 crore, which is 12 percent more on a annual basis. At the same time, Idian Overseas Bank has made the most profit. During the June quarter, the profit of Idion Overseas Bank has registered a rise of 76 percent. During this time the profit of the bank has been Rs 1,111 crore.
Performance of public sector banks
Public sector banks led by State Bank of India (SBI) earned a record profit of Rs 44,218 crore with a total annual increase of 11 per cent in the first quarter of the current financial year. In the June quarter of 2024-25, all 12 public sector banks had recorded a total profit of Rs 39,974 crore in a total of Rs 39,974 crore. Punjab National Bank’s profit decreased by 48 percent during the June quarter. During this time, the profit of this bank was Rs 1,675 crore, while it was Rs 3,252 crore in the same quarter of the last financial year.
Whose profits
Why is this meeting important
Actually, all government banks give dividend to the government. From the Reserve Bank of India to the small bank, some of their earnings give some part to the government as dividend. The Reserve Bank of India has given Rs 2.69 lakh crore to the Central Government as a dividend for the financial year 2024-25. Talking about SBI, the largest government bank of the country, this bank has given a dividend of 8O76 crore to the government.